Specifications include, but are not limited to: Primary Checking Account (Concentration Account) - The purpose of the concentration account is to concentrate the City’s cash balances for more effective cash management and investment. With the exception of the City’s grant funding, all remaining deposits under this agreement shall be made to the concentration account. Funds deposited into this account shall be considered collected as soon as funds are available to the financial institution. Incoming and outgoing wire transfers will be made from this account. Zero-Balance Disbursement Accounts – Three zero-balance disbursement accounts will be required by the City to be utilized for Accounts Payable disbursement (1), Payroll disbursement (1), and Solid Waste (1). Additional zero-balance disbursement accounts must be made available upon request. The City’s zero-balance disbursement accounts will be utilized for all City issued checks and ACH items. They will operate on the following basis: • Disbursements – As checks are presented for payment, the zero-balance accounts will be debited. A debit total will accumulate during the regular business day. At the end of the business day, the total amounts debited will be transferred from the concentration account and debited to the zero-balance disbursement accounts. • Deposits – There will be no deposits to the zero-balance disbursement accounts. • Transfers – The transfer debits between the zero-balance accounts and the concentration account will represent the total of disbursements. • Both the accounts payable and payroll disbursement accounts currently use a positive pay feature. A positive pay feature must be provided by the selected financial institution. Temporary, Limited Transaction Processing Accounts - Stand-alone accounts for grant processing (1), Tax Escrow (1), Hotel/Motel (1), SPLOST (1), E 911 (1) and Confiscated assets (2) will be required by the City in order to satisfy legal requirements for funding.