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<br />1. Account Analysis: The City requires that a monthly account analysis be <br />presented to the City within 15 business days of the end of the month. The <br />account analysis must show a minimum of the following information. <br />a. Account number <br />b. Period covered <br />c. Average ledger balance <br />d. Average collected balance <br />e. Services rendered (include type of service and quantity) <br />f. Per unit cost of each service <br />g. Total cost per service <br />h. Total cost of all services rendered <br /> <br />Agree. <br /> <br />2. Direct Deposit: Direct deposit of payroll checks is required of all employees, <br />currently there are 412 employees with 392 with direct deposit, 7 using payroll <br />cards and 13 that use regular checks. The bank will be required to produce <br />bi-weekly payroll transfers from an uploaded file furnished by the City in ACH <br />format for transfer of funds directly to the employees' bank, savings, or credit <br />union account. Please state the Bank's procedure for this service and list <br />appropriate cut-off times that would apply. (Item 0 on Quotation Form) The <br />City's net payroll is approximately $480,000 each pay period. <br /> <br />3. Direct Draft: The City currently makes available to customers the ability to pay <br />utility bills by direct bank draft. Please state the Banks procedures for this <br />service (Item E on Quotation Form). <br /> <br />4. Positive Pay: The City currently uses positive pay. The positive shall be fully <br />automated and web based. Check information will be transmitted electronically <br />to the bank on each check run. Please describe the complete process, data <br />transmission requirements, the options available, any time deadlines, and the <br />pricing. (Item H on Quotation Form). <br /> <br />5. Online Banking: The City currently completes the majority of banking <br />functions online. These functions include, but are not limited to, account <br />inquiry, initiation of outgoing wire transfers, interaccount transfers, uploading <br />ACH files. Please state the Banks ability to provide online services (Item I on <br />Quotation Form). <br /> <br />6. Credit Card Merchant Services Provider: The City accepts credit cards for <br />the payment of several City services in person, on the telephone and online. <br />Please state the Bank's ability to provide this service and the associated <br />procedures. The city would require several merchant accounts. The city <br />expects 2,600 credit card transactions per month, with an average monthly <br />transaction value of $580,000. Please confirm the capability of your bank to <br />provide this service, the options available, the type of major credit cards <br />accepted (Le. Visa, MasterCard, Discover, American Express), the type of <br />equipment available, and the pricing. (Item J on Quotation Form). <br /> <br />7. Certificates of Deposit: Certificates of Deposit purchased for the City shall be <br />non-negotiable, and shall be registered in the name of the City. CD's shall be <br />fully insured by the FDIC or collateralized by fully guaranteed Federal <br />obligations that are pledged to the City and that have market value equal to or <br /> <br />18 <br />