Description
The Ocean Springs School District is seeking proposals from financial institutions to provide depository services for the district's funds. The selected institution will be responsible for providing a range of services, including account management, statement preparation, and direct deposit services. The district is looking for a single financial institution to serve as the lead bank, but may also consider multiple institutions to share a percentage of the deposits. The contract will be for a period of three years, from July 1, 2026, to June 30, 2029.
• The selected institution must provide separate bank statements for each account, with front and back images of all checks.
• The institution must provide electronic statements by the 3rd working day of the month.
• The institution must provide direct deposit services for the district's monthly payroll.
• The institution must agree to execute a Collateral Security Agreement and a Custodial Agreement with the district.
• The institution must provide a range of other services, including account management, statement preparation, and investment services.