General Requirements Overview (Service Group 1) OST is seeking competitive proposals from qualified financial institutions to serve as the State’s primary cash management provider. This institution will process electronic and paper deposits, handle disbursements, and serve as the central point for cash management for the State of Maine. Firms responding to this RFP must comply with . Operating Accounts and Bank Balances: The State of Maine currently has approximately 30 Demand Deposit Account (DDA) accounts to collect deposits and disburse funds. The State uses a zero-balance account (ZBA) structure to concentrate funds automatically into the master depository account. There are 2 ZBA master accounts and approximately 20 ZBA subsidiary accounts. The awarded Bidder will be required to provide a similar account structure to allow the State to maintain their current account architecture and reconciliation capabilities. The State also uses approximately five (5) controlled disbursement accounts with only one presentment time at 9 am ET. Some accounts are grouped to maximize the State’s balances, while other accounts remain standalone for reconciliation, budgeting, and/or legislative reasons.
