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<br /> RFP 24-06-01 BANKING SERVICES 21 <br /> <br />G. Information Reporting <br /> <br />1. The Proposer shall describe the types of information reporting their internet-based <br />treasury management system provides (i.e. cash balances, ACH debits and credits, <br />wire transfers, reconciliation, positive pay decisions, stop payments, account activity, <br />etc.). <br /> <br />2. The Proposer will provide details regarding how far back data is warehoused, how <br />many business days the data is stored in the reporting system and available for the <br />City to access for the types of data listed above. <br /> <br />3. The Proposer will provide a sample of their daily online reporting format. <br /> <br />H. Bank Account Statements and Reconciliation <br /> <br />1. Bank statements for all City accounts will be provided monthly at the end of each <br />calendar month. Statements shall be delivered no later than seven (7) banking days <br />after the end of each calendar month, preferably in an electronic format. Statements <br />will contain images of the front and back of the cleared checks, sorted by check <br />number. All the information shown in the statement will be accessible through an <br />internet-based treasury management system and be able to be downloaded into an <br />Excel or csv format. In addition, the City requires that cancelled check images (front <br />and back) be provided on CD-ROM in a searchable format. <br /> <br />2. The City requires the bank to provide a full account reconciliation program for the <br />Accounts Payable account. The information provided should include the check <br />number, amount of the check, and date the check was paid. This information should <br />be available immediately at the month-end in excel or text file format. <br /> <br />3. Debit and credit advices are to be issued for deposit discrepancies within 24 hours of <br />deposit. <br /> <br />I. Overdraft <br /> <br />If the total amount of checks and/or other payments exceeds the available balance of the <br />Operating Account or any other non-linked City account, the Proposer agrees to pay all checks <br />presented for payment. The Proposer will notify the Finance Director or City Manager <br />immediately so that corrective action may be taken. Proposers must provide information <br />regarding overdraft protection as well as any assessment of fees. <br /> <br />J. Stop Payments <br /> <br />1. The bank agrees to accept stop payment orders online utilizing an internet-based <br />treasury management system. If the respective check is unpaid, the bank will provide <br />online confirmation of the stop payment order as well as follow up with written <br />confirmation. The Bank shall be responsible for any item cashed if the item was <br />confirmed as a stop payment as of a specific date and is subsequently cashed by the