Specifications include, but are not limited to: The intent of this contract is to provide Beaufort County School District with a “Nonexclusive” use contract. Banking services, such as investment banking, may be obtained from other institutions as deemed necessary. Banks submitting proposals must be capable of meeting the minimum requirements and services as outlined in the sections below: • The banking institution must have three (3) branches, preferably four, located within the boundaries of Beaufort County (one, preferably two, on the north side of the Broad River and two, preferably three, on the south side-Hilton Head and Bluffton). ATMs alone will not meet this requirement. In the absence of three branches withing the boundaries of Beaufort County, courier services must be provided. • The banking institution will serve as the central depository for the District and will provide four (4) checking accounts: an operating (or concentration) account, a student activities account, a food service account, and a workers’ compensation account. Any money in excess of a target balance would be invested overnight in an insured investment.
