Bank agrees to establish and maintain such Account(s) and sub-account(s) as are necessary to accommodate the Treasurer/CFO. Said Account(s) are to be in the form of Demand Deposit Accounts (DDA). Following are the required accounts: 1. General account 2. Payroll account (zero balance account) – funds are transferred daily from the general account to cover inclearing items each day 3. School Depository Account - funds are swept into the general account each day 4. Online Payment Account - funds are swept into the general account each day 5. Wellness Account 6. Self-Insurance Account 7. Donations Account 8. HSA / FSA Account 9. Credit Card Processing Fees Account; ACH Services 1. Treasurer/CFO shall transfer ACH files via file transfer protocol (FTP) or via on- line banking services. 2. Bank shall provide to the Treasurer/CFO, on the effective date of an ACH transaction, detailed confirmations of all ACH credits and debits received for Board’s account. These confirmations shall include, at a minimum, amount, customer name and customer identification. Should the Bank be unable to furnish such detail on the effective date of the transaction, the Bank shall provide to the Treasurer/CFO, the total amount deposited to the Accounts through the ACH network. Detailed confirmations may be delivered on the morning following credit or debit to the Accounts. 3. Bank shall notify Treasurer/CFO of any ACH return on Accounts no later than 8:00 a.m. next business day. 4. Treasurer/CFO and Bank agree to follow NACHA required security procedures for verification and authenticity of ACH fund transfers. 5. Treasurer/CFO may request the cancellation of an ACH debit and credit transaction file. Any such communication shall indicate the name of the person initiating the cancellation...
