1 PURPOSE The County of Prince George, Virginia, along with Prince George County Schools, (hereafter referred to as County) is requesting proposals from qualified financial institutions to provide banking and depository services. The County intends to enter into a multi-year contract for banking and depository services with a qualified offeror. The overall purpose of this process is to obtain high quality requisite depository and banking services at a competitive price. The offeror must be qualified, having the required experience in banking and depository services per the scope of services included in this RFP. The services shall include, but are not limited to: ACH Origination Services; Demand Deposit; Image Cash Letter; Remote Deposit; Citizen Bill Pay Services at local branches; Account Statements (electronic files preferred) - to include deposit and canceled check images Positive Pay (Enhanced with Payee Match); ACH Fraud Control / ACH Filter Blocks; EDI Reporting Services; Wire Transfer; Overdraft Protection; Excel export capabilities (or .csv); Monthly transaction summaries with account analysis and fees; The County currently maintains one main checking account (General, Capital Projects, Enterprise and Schools Funds) and two zero-balance sweep accounts that are utilized in collection of utility and tax payments and District 19 Community Services Board revenue activity. On an operational basis, the majority of all deposits will be made into one account. All disbursements will be made from this same account. Different check number sequences are used for accounts payable checks and payroll checks. The County also maintains additional checking accounts primarily to isolate and identify specific deposit activity. The Treasurer’s office makes deposits daily, in-person at a local branch in Prince George County. Wire Transfers/ACH Transfers are used where practical, especially for large payments or revenue items. The County offers direct deposit of payroll checks, and Tyler Munis Financial software is used to create an ACH file for direct deposits. The County is exploring ACH vendor payments using a similar process. The County initiates various financial transactions through online account access. There are multiple user accounts with access and permissions determined on a by-user basis. The County’s current banking services include processing of citizen’s tax and utility payments which are made at bank branches. These payments are deposited in the County’s account and deposit slips are forwarded to the Treasurer’s office no later than the next business day. Remittance includes a copy of taxpayer bill and two deposit slips for the total amount collected. The County institutes the practice of investing part or all its surplus or excess funds outside the depository agreement which arises from this RFP. 2.3 Required Banking Services: 2.3.1. Full-service bank branch located in or near Prince George County, VA with depository facilities conveniently located near County and School operations. 2.3.2. Main Checking Account and two zero-balance sweep accounts • Main Bank Account o District #19 - zero-balance sweep account o Utility/Tax Payment Clearing - zero-balance sweep account 2.3.3. Six (6) accounts for various departments. These accounts are maintained separately from the main bank account. • Fire & EMS – checking account • Mobile App – checking account • Special Welfare Fund – checking account • Farmers Market – checking account • Cafeteria – checking account • Performance Bond accounts – multiple savings accounts 2.3.4. Fraud Prevention Services – • Check protection (“Positive Pay”) services for the main bank account that matches check number, payee name, and check amount. We currently transmit positive pay data in a comma delimited (.csv) file format and we can make pay/return decisions online for exceptions.
