ACH Collection - The City currently offers automatic account payment for collecting utility bills. There are approximately 550 utility bill accounts that pay via ACH bank draft. 1.2 Availability of Funds Deposited - The City desires to know the collected funds' availability schedule for its deposits. These deposits include checks, money orders, cash, ACH credits, and wires from local, regional, and out of state banks. The City requires updates as the schedule changes. 1.3 Credit Cards - The City receives credit card payments for various services totaling approximately per month. Government Window is used to process these transactions. Please detail your charges to accept these payments following Government Window processing. 1.4 Online Treasury Workstation - Describe in detail your online communications capabilities for balance inquiry including immediate and delayed clearing balances, item image retrieval, wire and ACH transfer initiation, Positive Pay and any other online information that would be available to the City. 1.5 Stop Payment Process - The City will require the bank to issue stop payments including stale dated check stop payments upon on-line communications from authorized City personnel. Describe how your process operates and associated costs. 1.6 Daylight Overdrafts - Please provide details on any daylight overdraft issues that may concern your bank. It is likely that in managing the external investment program of the City that payment for an investment purchase may occur before the receipt of funds from an investment sold or matured or from other sources. This could cause an occasional daylight overdraft that will be cured before the end of the banking day 1.7 Positive Pay and Automated Account Reconciliation - The City requires the use of a positive pay account reconciliation and fraud prevention program. As checks are disbursed, the City will provide the bank with a computer readable record detailing the check number, date, and dollar amount of each item. Currently the City uploads this file in online banking. Only those items reported by the City will be allowed to clear the account. The bank shall provide the City a daily list of exception items for payment approval or rejection. At the end of the month the account reconciliation consists of outstanding items. The City requires information provided electronically to reconcile its accounts. Information is expected within three business days of the month-end. Responding banks should describe their systems and how stale dated checks will be handled
