J.P. MORGAN CHASE BANK-2016 - Laserfiche WebLink

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111. SCOPE OF SERVICES The following banking services will be required and the inability to provide these services, except when stated within the service description as desired rather than being required, will eliminate the proposal from consideration. A. Collateraliaation. All balances are to be fully collateralized through the pool collateral system required under the State of California Financial Code Section 53630 et seq. B. Exemption. Bank shall obtain exemption for the City from large cash transaction reporting requirements. C. Interest Earnings. Bank must be able to provide interest earnings on the Cash Balance in excess of required compensation balances. Please provide options for excess balances. As part of the proposal, the bank shall provide the proposed formula to calculate interest earnings. All interest earnings shall be credited to the Operating Account, D. Deposit Activity. The City currently utilizes a variety of methods to process daily deposits. Most all of the City's deposited funds are brought to City Hall and an armored car service is used for currency and coin deposits five days a week (Monday- Friday) with the exception of alternate Fridays when City Hall is closed. The City's parking meter coin deposits are counted, separated, and bagged by coin denomination. The City currently scans and electronically transmits most checks for deposit. The City also has third parties who make deposits on behalf of the City for collection of parking citations and paramedic billing. The armored car service is paid by the City on a monthly basis. The City would prefer this service be charged through Account Analysis. Total monthly deposits consist of approximately $14,000,000 in checks and $900,000 in currency and $105,000 in coin. The City requires the ability to use a local branch to make occasional deposits, get change, allow employees to cash payroll checks, and offer banking services to City employees, and for other miscellaneous activities. 1. Provide the location of the branch closest to Santa Ana City Hall (20 Civic Center Plaza, Santa Ana, CA 92701) that can be used for large dollar deposits that missed the courier, emergency cash withdrawals, supplies, etc. 2. What time is the same -day ledger credit cut -off for over -the counter deposits? Is there a later deadline at other branches or processing centers? Where is the Processing Center /Cash Vault located? Will the City deal directly with the Cash Vault on deposit adjustments or with a local representative? 3. Describe the Bank's deposit requirements, including coin, currency and check deposits. Who Is responsible for the cost of deposit supplies (bags, deposit slips, etc.)? City of Santa Ana — Banking Services Page 5