Specifications include, but are not limited to: General Banking Services to identify a financial institution that possesses the capability and expertise to provide high quality banking services at a competitive price. The successful proposer shall maintain the City’s general fund account as follows: • Automatic transfers shall be made from the general fund account to cover checks or electronic transfers issued from zero balance accounts. • Electronic transfers of deposits to and withdrawals from this account shall be made periodically. • Daily online access shall be available to view the collected and ledger balances and to transfer between accounts. • Deposits to the general fund account shall be retained until funds become available at which time they will be considered collected balances. Any collected balance, including electronic transfers received, remaining in the account, after the daily transfers from that account, shall earn interest.
