Lockbox Services

The City of Lee's Summit is seeking proposals from qualified banking institutional firms/providers to provide lockbox services for the City's Water Utilities Support Services Division. The selected firm will be responsible for processing and depositing water utility payments, providing daily electronic reports, and maintaining a high level of customer service. The City expects to generate over $50 million in revenue from its water and wastewater operations in Fiscal Year 2026, with approximately 40,000 water utility invoices distributed monthly. The proposal should include the firm's experience and qualifications, proposed approach and methodology, and pricing and cost information. Key points to consider: • The City reserves the right to make on-site audits of the lock box operations • The respondent shall pickup receipts a minimum of once daily at an agreed upon Post Office Box • The respondent shall be responsible for the safe keeping of all mail and items taken into its custody or that of its agents • All receipts are to be processed, balanced and deposited daily • Daily activity shall be electronically transmitted to the City complete with Date, Sequence number, system generated receipt number, customer account number, and the amount