Specifications include, but are not limited to: . The Offeror shall maintain a Concentration Account which will be a demand deposit account for receipt of all City deposits. The Schools’ deposits will be made to the Schools’ Zero Balance Depository Account (ZBA) first, and will be transferred daily into the Concentration Account. All balances are maintained in the Concentration Account. Incoming and outgoing wire transfers are made in this account principally for investment purchases, to fund debt payments, to fund other ZBA disbursement accounts, other disbursements, receive Federal/State agencies monies, and to clear the ZBA depository account. There are also Automated Clearing House Transactions (ACH) processed in this account. Deposits are made by various City departments, which use deposit tickets with MICR encoding that identifies each department. The Offeror shall indicate the ability to provide this service and any costs related to the printing of the encoded deposit tickets. The Offeror shall provide detailed deposit information including date, amount, department name and code, and a description for the daily deposits. The Offeror shall provide information for adjustments to this account for deposits (debit and credit advices). This adjustment information shall provide the date of the original deposit, amount, indicate department name and code, and a description. A monthly bank statement shall be required for this account. Provisional credit shall be given for all deposits received by 6:00 p.m.; the City will be given credit for the deposits that same day.
