In general, it is the intent of the University to establish and operate a system of banking services, which will provide for: (1) the immediate, secure deposit and transfer of funds; (2) the availability of funds to meet the obligations of the University; (3) the accurate and satisfactory collateralization of all funds; (4) the immediate and adequate accounting for all funds; (5) electronic banking; (6) repository services; (7) positive pay services; (8) compliance with all applicable laws, rules and regulations of federal and state governing bodies; (9) satisfactory customer service evidenced through prompt and complete responses to requests as well as customer references at the time of proposal review; and (10)assurance of data security and support to ensure data integrity and continuity. In addition, it is the intent of the University to operate the system so that float is eliminated to the maximum extent possible on the Fee Agency Account.
