The Collection Account (“Concentration Account”) shall be the depository for all monies received by the County. The County’s agencies deposit funds directly into the County’s collection account using local banking offices, via armored car services, and desktop deposit services into the bank’s cash vault. The County’s lockbox collections for property taxes as well as Emergency Transport Service Fees are deposited into the Collection Account. Each morning, the Contractor shall be required to have available by 7:00 a.m. (EST) the current balance and transaction information for the Collection Account to be accessed by the County as indicated in Section 3.4.5. The Contractor shall produce a monthly statement for the Collection Account, in both paper and electronic formats, which shall include an itemization of transfers to each of the zero balance disbursements accounts (General and Payroll Disbursements) and detailed debit and credit memoranda. Occasionally, the County has the need to obtain duplicate copies of deposit slips, deposited checks, and debit/credit memoranda. The Contractor shall provide electronic images via the Internet of all debit/credit memoranda by mail within one (1) day of the memorandum being issued. For images not available electronically, the Contractor shall provide these copies within five (5) working days of the County’s request. The County requires automatic redeposit of returned items. Items returned a second time must be provided to the County within five (5) days of return.
