Specifications include, but are not limited to: A. ACCOUNT MAINTENANCE 1. Account Balances: Transactional data and the ending account balance for each business day are to be available online by 8:30 a.m. the following business day. This information must be viewable online for at least 180 days. 2. Bank Statements: Month end bank statements for all accounts including zero balance accounts with documentation supporting all entries on the statement is required within two banking days after calendar month end. 3. Check Printing: The bank will provide MICR information to the Town and Board of Education for printing to be done in house. 4. Check Imaging: The bank will provide the ability to view the front and back of all paid and cancelled checks online for a minimum of 180 days. In addition, the imaging must be saved for a minimum period of seven years. Please discuss options and costs for long-term storage of the images (such as memory sticks, USB devices, or long-term storage with the bank which the Town and Board of Education could access as needed through a secure portal or encrypted messaging). 5. Deposited Items: The bank will provide the ability to view all deposited items online for a minimum of 180 days. In addition, the imaging must be saved for a minimum period of one year. Please discuss the options and costs for long-term storage and retrieval as requested for check imaging above. B. DEPOSIT SERVICES C. LOCKBOX SERVICES The Town currently does not use lockbox services for its tax payments or its Wastewater Program assessments and would like to consider this service as part of this proposal. These payments come due in July, November, December, January and May. The Town processes approximately 23,000 tax bills and 1,700 sewer use bills each year. The Town prefers an Old Saybrook post office box for lockbox remittances. Courier service will be provided daily to and from Town Hall and the post office during lockbox operation periods. This will be a new service. Respondents shall indicate if there will be an additional charge for this service. In addition, the Town requires the ability to search payment details online for at least one year and the ability to print a copy of selected checks from the online database. Proposal shall detail lockbox options, including the following key items: • Time and frequency of pickups. • Turn-around processing time. • Deposit deadlines. • Acceptance criteria for payments. • Rejection criteria for payments.