Specifications include, but are not limited to: The firm awarded the contract will be the Utility’s primary cash management partner. This firm will process deposits (both electronic and paper), handle payroll direct deposit, and be the central point for cash management. The Utility has eight (8) bank accounts with one (1) primary banking partner, which includes 3 ZBA sub-accounts and a savings account. The Utility also maintains an investment account and a Money Market account. The Utility uses an overnight sweep and sweeps all funds over $40 MM into its investment account. The Utility does not guarantee that it will hold any minimal account balances at the selected firm. Amounts held at the bank will depend on the rate paid by the bank compared to other liquidity alternatives and security of deposit/investment options. The Utility currently uses the following platforms which may require banking platform integrations: • Current ERP: SAP • Future ERP: An implementation to a new ERP, NISC, is underway. The Utility will require support during this banking implementation to integrate to NISC.
