Specifications include, but are not limited to: A. Bank Accounts: It is preferred that the bank maintain a concentration/zero-balance account
system as the account structure specified above in Section 3.0.
B. Controlled Disbursement: The accounts payable/vendor payment and payroll accounts are
controlled disbursement accounts. Banks should indicate available bank locations and
estimated clearing times for controlled disbursement checking accounts. The daily check
presentment for the current day must be available by the bank’s computer system by 8:30
a.m. (first presentment) and 10:00 a.m. (second/final presentment).
C. Bank Account Reconciliation and File Transfer Information: Full account reconciliation
services for the Payroll account only. BOARD will electronically transmit an issue file to the bank.