1. Primary Services. The following are major services that the Township anticipates using: a. Operating accounts: i. Checking Accounts. Each Respondent shall submit the unit costs, minimum required balances, and/or interest rates earned in maintaining the following accounts: * Operating Account. This account is currently used to pay most bills; account balances are derived from deposit of tax receipts and other budgeted revenue sources. (2025 budgeted revenues estimated at $71 million with approximately 4,400 checks issued and 2,400 direct deposit transactions from this account in 2025.) * Payroll Account. This account is currently used to pay employees and certain payroll related items. Payroll is processed on a biweekly basis. Annual payroll for 2025 approximates $35 million with an estimated 620 checks issued and 10,000 direct deposit transactions. Funds are transferred from the General account in total on a biweekly basis...
