Specifications include, but are not limited to:. Consolidated Account Structure with Sweep Mechanism We are interested in earning at then-current interest rates available at all times. We want the option to use an automated, daily sweep to a money market mutual fund or depository alternative account (if competitive) to reach our full investment goal. Our current account structure is listed as Attachment B, District’s Current Account Structure. We do not guarantee that we will maintain the balances at these same levels. You must clearly describe your most cost-effective account structure (interest bearing accounts, zero balance accounts [ZBAs], or sweep, etc.).. Automated Cash Management Information We are interested in automated balance and detail information. Minimum automated services must include the following: prior-day summary and detail balance reporting on all accounts intraday detail and summary balances (on local main and payroll accounts) initiation and monitoring of stop payments positive pay exception transactions initiation and monitoring of internal and wire transfers image access controlled disbursement presentment totals. Deposit Services We require standard commercial deposit services for all accounts. We expect all deposited checks to clear based on your current published availability schedule, but please note any options for expedited availability in your proposal. For all cleared deposits you receive by your established deadline, you must process them for same-day ledger credit. If you fail to credit our accounts in a timely fashion, you must pay interest to us at the then-current effective federal funds rate.
