Proposal Request for Banking Services for Asheboro City Schools

Background
Asheboro City Schools (ACS) is seeking proposals from qualified and interested banking institutions that operate within the legal jurisdiction of Asheboro City. The goal of this contract is to secure banking services that meet the financial needs of the school system, ensuring compliance with North Carolina General Statutes and providing efficient management of funds.

Work Details
The selected bank will provide a range of banking services including:

- Management of fourteen (14) accounts such as Current Expense Account, Payroll Clearing Account, Child Nutrition Account, Non-Interest-Bearing Account, Money Market Account, and nine separate school accounts.
- Compliance with North Carolina General Statute 159-30 for cash balance investments and utilization of the Pooling Method for collateralization of public deposits exceeding FDIC coverage.
- Provision of necessary banking supplies (deposit slips, night deposit bags).
- Remote deposit capabilities and processing procedures for deposits with same-day credit for certain transactions.
- Wire transfer facilities, ACH capabilities, and direct deposit services for payroll.
- Monthly statements with detailed transaction analysis and online banking access for authorized personnel.
- Positive pay services for fraud prevention, along with timely notifications regarding returned items and secure internet-based banking solutions.

Period of Performance
The contract will commence upon award and is expected to continue for a period determined by the successful proposal's terms. It must remain valid for at least one year from submission.

Place of Performance
Services will be performed at Asheboro City Schools located at 1126 S. Park Street, Asheboro, NC 27203.