Bank Depository Services

The government authority in Saint Joseph, Missouri is seeking a vendor to provide bank depository services for a two-year contract period. Services required include management of the primary operating account, which handles general deposits and transactions. Additional accounts such as Food Service and Student Activity Accounts use zero balance arrangements, with daily deposits automatically transferred to the primary operating account at day’s close.

The scope also incorporates a controlled disbursement account, a Hillyard credit card account, and a Debt Service Account. The Debt Service Account entails mainly interest from investments and periodic transfers involving the primary operating account. These accounts also manage transactions related to bond sales from the District's capital projects improvement program. Typically, no checks are issued from the debt service account.

The vendor will be responsible for ensuring smooth and compliant transfer and deposit operations across all listed accounts, optimizing banking services for the authority's operational and financial needs.