Service Group 1 – General Banking, Lockbox, and Armored Car Services A. General Requirements for Operating Accounts & Bank Balances All depository financial institutions of the State are selected by the Office of the General Treasurer. The Office of the General Treasurer reserves the right, at its sole discretion, to withdraw its approval of any depository institution at any time, without notice. There will likely be multiple vendors awarded the contract for this service group. All awarded firms will be expected to process deposits (electronic, paper, and cash), maintain deposit accounts, handle disbursements, and serve as the central point for the State’s cash management activities. The State’s Investment Policy Statement is provided as Appendix A – Investment Policy Statement.
