A. General Requirements: Requirements include: 1. The bank must be a Federal or state-chartered banking institution, 2. Be a Qualified Public Depository per Chapter 280, Florida Statute, 3. The bank must be "Well Capitalized" as defined by the Federal Deposit Insurance, and 4. Have five (5) consecutive years of experience with at least three (3) similarly sized public entities immediately prior to the date set for receipt of proposals in providing banking services for public agencies. B. Deposit Services: Required services include: 1. Process the deposit of checks at a local branch, vault location or by remote deposit capture, 2. Process the collection of currency and coin per month at a local branch or vault location, 3. Image deposited items, and 4. Provide online access for deposit reconciliation including images of deposited items. C. Disbursement Services: Required services include: 1. Provide positive pay services, 2. Provide online stop payment services and void check capabilities, 3. Be able to upload files to bank to clear payroll checks, and accounts payable checks. 4. Provide CD-ROM or alternative electronic archival of cleared checks (images of front and back), and 5. Provide online access to cashed check images (front and back of check). D. Electronic Transfer of Funds: Required services include: 1. Accept and send ACH transactions, 2. Provide ACH debit blocking services, 3. Provide a secure electronic method for initiating wire transfers, 4. Provide dual process to approve wire transfers, and 5. Provide a secure electronic method to initiate intra-bank transfers. E. Reporting: The District requires access to daily reports of balances and transaction information, including prior day reporting of ledger balance, available balance, and summary and details of credits/debits posted. Current day and prior day reporting of wire activity and ACH receipts is also needed.
