Depositories

This contract is for depository services for Cleveland Metroparks, with PNC Bank being awarded the contract for a six-year period with an option to renew for an additional five years. The contract includes services such as active, inactive, or interim depository services, and PNC Bank was chosen based on their combination of qualitative and quantitative offerings, including their commitment to Cleveland Metroparks' Core Values. The key aspects of the contract include: • Estimated annual account analysis fees of $32,364 • Estimated six-year account analysis fees of $194,184 • Earnings credit rate of 3.5% • Presence of local dedicated account management team to assist in the transition process and to proactively manage the ongoing relationship • Sophistication, usability, and reporting capability of online portals • Demonstrated commitment to Cleveland Metroparks' Core Values