2015/09/09 Council Agenda Packet

CA Z ■ Acknowledgement of ability to secure insurance amounts and types stipulated. A list of current and former clients in the Pacific Northwest and in particular those in close proximity to the City of Everett for whom you have provided similar services in the past five (5) years, including: o Name, address and phone number of client contact person. o Number of years of service with the client. o Brief description of the scope of work provided. IV. BANKING SERVICES REQUIREMENTS Each proposer shall submit a comprehensive list of service prices by completing the service cost section of the RFP. This list will be considered all-inclusive. The prices shown on the list shall be incorporated into the agreement and will be effective for the duration of the Banking Services Contract. A. Main Operating Account The City will require a normal demand deposit type account through which most deposits will be made, Treasurer's checks will be written, and ACH and wire transfer transactions will take place. 2. The City will require two separate zero -balance checking accounts (ZBA) for processing accounts payable and payroll checks. These "zero balance" accounts should be cleared against the main operating account. The City of Everett currently issues approximately 450 accounts payable checks per week and 1,200 payroll checks/ACH deposits every two weeks. Deposits consist primarily of checks, with some image cash letter, currency, coin, credit card, ACH, and wire transactions. 4. Disbursements from the main account will be mainly through transfers to ZBA accounts, wire transfers, ACH transfers, and, occasionally, Treasurer's checks. 5. The daily net usable balance of funds after allowing for uncollected funds shall receive interest overnight. 6. Deposited checks returned for insufficient funds will automatically be resubmitted for collection. 7. Deposits accepted and/or received by 4:00 p.m. will be credited to the account on the same day. 8. The Financial institution will provide checks and deposit slips printed (MICR encoded) and endorsement stamps printed to the City's specifications. 9. The Financial institution will provide either pre -numbered plastic deposit bags or lockable bank bags as requested by the City. 10. The Financial institution will provide the City with electronic imaging of cancelled/processed Checks.