1. Deposit Account – This account is used for all deposits received by the City by check, ACH, or wire transfer. 2. Accounts Payable account (ZBA-zero balance account linked to Deposit Account) – This account is used to pay all of the City’s bills, via check, ACH, or wire transfer. 3. Payroll Account (ZBA-zero balance account linked to Deposit Account) – This account is used to pay all of the City’s Payroll checks via check or direct deposit, as well as all Payroll related taxes via check or ACH. 4. Workers’ Compensation Account – This account is used to pay all Workers’ Compensation related expenses and payments to employees. Checks on this account are written by a third-party administrator. 5. Two small accounts, both with under $10,000 each, one for City of Turlock Charities/Crisis and one for Turlock Regional Sports Complex Foundation. These accounts have very little activity with no deposits and only periodic withdrawals. The scope of work includes, but is not limited to, the following: DEPOSIT SERVICES The City deposits approximately $175,000 in currency (bills and coins) and approximately 1,100 checks each month with almost all City check deposits made through remote deposit. The City would require armored transport of cash and occasional check deposits Monday through Friday from City Hall located at 156 S. Broadway, Turlock to the bank. The City receives approximately 300 ACH deposits each month for a variety of reasons, including merchant bankcard settlements, county payments, and state apportionments. RETURN ITEM PROCESSING The City requires an online banking application for daily reconciliation. The City will need same day notification of returned items. The City will need access to front and back of images on return items with reason for return, date of return, payer(s) name, depositing location, and type of item returned. LOCKBOX/ELECTRONIC SERVICES The City receives a combination of approximately 4,000 payments electronically and via check for utility service payments through a bank-managed lockbox. The bank shall provide daily CSV file transfer of payments to the City's New World ERP. The bank will need to have the capability to process payment stubs (see attached Exhibit A) with a barcode that is printed and mailed by a third-party processor or accessed via the customer’s online account. PAPER DISBURSEMENT SERVICES The City will need the awarded bank to clear approximately 650 paper checks per month, typically issued once a week, between the City’s Accounts Payable, Payroll and Workers’ Compensation accounts.
