1. Bank accounts. The District currently uses interest bearing checking accounts for A/P disbursements (zero balance), payroll disbursements (zero balance), depository (investment repo sweep), debt service checking, section #125 checking, self-insurance disbursements (zero balance), and self-insurance depository (checking). The Depository must accommodate these account types. 2. Supplies. The Depository needs to provide the following supplies to the District: a) 2 night deposit locked bank bags for each school or department (about 110 total) b) 4-part deposit slip forms 1-white, 2-yellow, 3-blue, 4-pink (7,250 per year) c) Bulk coin deposit bags upon request (limited need) d) Money straps and cash deposit envelopes upon request e) Check stock for disbursements (about 7,500 per year) f) Cashier checks upon request (limited need) g) One large safe deposit box 3. Debit transactions and reporting. The District needs the following services: a) The District disburses money by various means including check, ACH disbursements, ACH payroll direct deposits, and wire transfers. The Depository agrees to pay out of the accounts of the District such sums as the District may draw by check, ACH, wire transfer or account withdrawals against the balances of said accounts and free of any expense to the District. b) Zero-balance disbursement accounts. The Depository will provide zero-balance disbursement accounts. c) Two signature verification for check disbursements d) ACH filter controls to only allow specified vendors debit District accounts via ACH e) Stop payments f) Facilitate wire transfers by phone, fax, and internet banking g) Process credit transactions, accept bulk coin deposits, and overnight deposits h) Secured internet banking (ACH, wire transfer, bill pay, stop pay, account transfers, account transaction detail, account statements, etc.….) i) Daily transaction statement. A daily statement of transaction detail for the main depository account is available for the following day by 1 pm for pick up by a District courier (statement descriptions may have more detail than on-line descriptions) j) Bank statements or reports must be provided by the Depository showing the daily balance, account activity or other relevant information regarding the District accounts, and should be made available by internet the first business day after the calendar month-end, and hard copy statements available the second business day after the calendar month-end.
