NIGP 94949: Principal on Other Indebtedness

NIGP 94949 Principal On Other Indebtedness, an Item code, covers banking services procurement by state and local governments, including comprehensive deposit, cash management, and related financial services for county boards, clerk offices, and other municipal entities. State and local governments soliciting under this code seek banking institutions capable of managing large public deposits, providing technology-enabled treasury management, fraud protection, and compliance infrastructure at competitive rates. Issuing bodies include county governments and municipal finance offices managing significant cash positions and multiple independent fund accounts. The scope of work encompasses account management, liquidity services, wire transfer capabilities, automated clearing house processing, and cybersecurity protections required to safeguard public funds.

Pinellas County, Florida, posted RFP 26-0180 Banking Services (Board and Clerk) on March 11, 2026, with responses due February 19, 2026, seeking a single banking institution to execute two separate Master Banking Services Agreements serving the Pinellas County Board of County Commissioners and the Pinellas County Clerk of the Circuit Court and Comptroller. The county required proposers to hold Federal Reserve System membership and Qualified Public Depository status with capacity to hold balances exceeding $350 million, maintain at least five full-service branches in Pinellas County, carry $100 million cyber liability coverage and $100 million professional liability coverage, and provide evidence of prior service to Florida local governments with populations exceeding 300,000. The contract term spans 120 months with potential for two additional 24-month extensions. Evaluation criteria emphasized Team/Firm Qualifications and Financial Strength (250 points), Scope of Services (250 points), User Experience and Transition Methodology (250 points), and Information Technology, Fraud Protection, and Security (150 points), with proposed fees valued at 100 points.