229-20250408111201 JCSD.pdf
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- Attached to
- 229-20250408111201 JCSD
- Solicitation number
- 3170032521
- Issued by
- Jasper County, Mississippi
About this file
This document is a School Depository Bid Form for the Jackson County School District (JCSD), soliciting banking services for a three-year contract period from July 1, 2025, to June 30, 2028. The bid form requests comprehensive financial services including checking and savings account management, with specific service requirements such as same-day ledger credit for deposits, no-charge services for various banking transactions, direct deposit payroll services, internet banking access, and remote check deposit capabilities. The bid covers multiple account types including activity funds, clearing accounts, and special purpose savings accounts with average monthly balances ranging from approximately $15,950 to $34,089,159.
The financial institution bidder must meet specific qualifications, including being FDIC insured, maintaining a primary capital to assets ratio of at least 5.5%, and agreeing to provide interest rates based on the U.S. Target Federal Funds Rate. The bid form requires detailed information about local branch presence, employee count in Jackson County, and willingness to provide services like positive pay, ACH transactions, and reconciliation. The document includes an exhibit (Exhibit A) detailing the school district's current account types, average monthly balances, and service usage, which potential bidders can use to understand the scope of banking services required. The bid emphasizes transparency, with requirements for monthly statements, annual reports, and cooperation with district audits.
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SCHOOL DEPOSITORY BID FORM
We (Financial Institution) (The Bidder) submit the following bid proposal for serving as the depository for the Jackson County School District for the period beginning July 1, 2025, and ending June 30, 2028, and thereafter until new arrangements shall be made according to law.
The Bidder has branches located in Jackson County, Mississippi. Please attach in response a list of all branches located in the county the school district is located in. Include address of each branch.
The Bidder has _________ employees located in Jackson County, Mississippi.
The Bidder certifies the following:
• The Bidder is insured by the Federal Deposit Insurance Corporation or any successors to such insurance corporation.
• The Bidder has met the primary capital to assets ratio of five and one- half percent (5 1/2%) or more as of June 30,2025 and has received certification of such from the State Treasurer. Please attach commission in response.
• The Bidder agrees to place on deposit for the Jackson County School District as security with the State Treasurer any of the securities eligible for securing of state funds as provided in Section 27-105-5, Mississippi Code Ann. (1972) in an amount at least equal to one hundred five percent (105%) of the maximum sum to be placed on deposit in such financial institution at any one time exclusive of that portion of accounts insured by the Federal Deposit Insurance Corporation or any successors to such insurance corporation. Or is a public funds guaranty pool member under sections 27-105-5 and 27-105- 6, Mississippi Code Ann. (1972). The qualified financial institution shall secure those deposits by placing qualified securities on deposit with the State Treasurer as provided in section 27-105-5.
• The Bidder agrees to execute a Collateral Security Agreement with the District in the form recommended by the State Treasurer of the State of Mississippi for the purpose of complying with Section 1823(e) of FIRREA as necessary to ensure that the district will possess a preferred claim to pledged securities in the event of default by the depository bank. All Collateral Security Agreements will be executed prior to July 1, 2025.
• The Bidder agrees to monitor monthly deposits of the district in order to ensure adequate securities are pledged and to provide the district with an annual report listing accounts reported to the State Treasurer.
• The Bidder agrees to prepare monthly statements beginning with the first day of the month and ending with the last day of the month, showing debits, credits, balances, and sequential listing of cashed checks within five (5) business days of the statement closing date.
• The Bidder agrees to, if requested, offer advice on cash management and investment strategies necessary to properly utilize the School District’s assets.
• The Bidder agrees to provide the requested information necessary for the completion of the annual audit at no charge to the district or its auditors.
• The Bidder agrees to provide ledger credit on the same day as deposits occur (holidays and weekends excluded). This includes same day credit on wire transfer of funds from the federal and state government, and same day credit on deposits made by the district prior to 2:00 P.M. CST.
• The Bidder agrees to allow the district to establish or maintain checking or savings accounts for no charge or minimum charges/fees for deposits credited, checks paid, incoming wire transfers, or returned deposit items. In addition, The Bidder agrees to provide the services listed on the following page at no charge or minimum charge to the district based on account data provided by the school district listed in Exhibit A.
COST OF SERVICES PROVIDED
Completed By School District Financial Institution’s Response
Account Services
Services
Utilized?
(Yes/No/ Interested)
Monthly Average Volume
Provided at No Charge
(Yes or No)
Direct Fee or Service
Charge (Indicate
Fee or Charge)
Stop Payments Yes <1
Outgoing Wire Transfers Yes
Incoming Wire Transfers Yes
Night Depository Services Yes
Locking Bank Bags Yes 73 bags total
Keys for bank night drop Yes 3 Keys total
Deposit Slips Yes 400 - 500
Checks Yes 300 - 400 Re-deposit of returned deposit items at least once
Yes <5
Research/Statement Reproduction
Yes
Payroll Direct Deposit Services Yes 1,350
Transactions handled via phone No Cash in to be counted by teller at time of deposit
Yes
Internet Banking Access Yes
Overdraft Fees and Penalties No
Positive Pay Yes 300 - 400 Reconciliation Yes
Controlled Disbursements Yes
Stored Value (Payroll) Cards No
Lockbox Services No
Check to ACH Conversion
Balance and Transaction Services
Yes
Outgoing ACH Yes 4 - 6
Incoming ACH Yes 10 - 20
Mobile App Interested
Remote Check Deposit Yes 5 – 10
Rates
The Bidder agrees to pay interest on the District’s accounts based on a fixed rate or variable rate.
Variable rates shall be equal to the prior month-end U.S. Target Federal Funds Rate plus or minus (3 Year Contract) ____ (2 Year Contract) basis points.
Current U.S. Target Federal Funds Rate is _ .
CURRENT RATES BASED ON ABOVE CALCULATIONS
3 Year Contract Variable Fixed
DDA Checking Accounts % %
Money Market / Savings Accounts % %
2 Year Contract
DDA Checking Accounts % %
Money Market / Savings Accounts % %
Note: Interest shall be earned on the average daily investable balance.
The Bidder agrees to provide earnings allowance on daily District account balances that offset bank service charges. The earnings credit rate (ECR) shall be %
Financial Institution Name:
Address:
Phone Number:
Primary Contact:
Email Address:
Printed Name & Title:
Authorized Signature:
Date:
Exhibit A
Accounts Type Average Monthly Balance*
JCSD 16TH Section Account Savings 4,305,846.38 JCSD Child Nutrition Savings 3,653,077.93 JCSD District Account Savings 34,089,159.42 JCSD EEF FOR CTE - 2022 SENATE BILL 3011 Savings 4,115,832.91 JCSD EEF FOR CTE - 2023 HB 603 Savings 8,952,186.57 JCSD EEF FOR SMH - 2023 HB 603 Savings 947,381.66 JCSD East Central Activity Fund Savings 426,658.81 JCSD St. Martin Activity Fund Savings 513,531.41 JCSD Vancleave School Activity Fund Savings 307,666.51 JCSD Technology Center Activity Fund Savings 15,949.17 JCSD FAB LAB Activity Fund 124,578.80 VHS SB 2468 Savings 126,392.00 JCSD AP Clearing Account Checking 234,585.28 JCSD PR Clearing Account Checking 1,974,714.40
Service (all accounts) Average Monthly
Count* Account Maint 10 Account Debits 257 Deposit Credits 481 On_Us Items Deposited 11 Transit Items 565 Stop Payment Charges 3 Return Item Fee 2 Coin Incoming Roll 169 Currency Incoming 73 ACH Basic Monthly 1 ACH Excess Trans 2 ACH Return Item/Reversal Fee 2 Positive Pay Service 11
* Average based on April 2024 to March 2025 Data
Savings
| Exhibit A.pdf |
| Sheet3 |
| branches located in Jackson County Mississippi Please: |
| employees located in Jackson County Mississippi: |
| Direct Fee or Service Charge Indicate Fee or Charge1: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_2: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_3: |
| Direct Fee or Service Charge Indicate Fee or Charge73 bags total: |
| Direct Fee or Service Charge Indicate Fee or Charge3 Keys total: |
| Direct Fee or Service Charge Indicate Fee or Charge400 500: |
| Direct Fee or Service Charge Indicate Fee or Charge300 400: |
| Direct Fee or Service Charge Indicate Fee or Charge5: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_4: |
| Direct Fee or Service Charge Indicate Fee or Charge1350: |
| Direct Fee or Service Charge Indicate Fee or ChargeNo: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_5: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_6: |
| Direct Fee or Service Charge Indicate Fee or ChargeNo_2: |
| Direct Fee or Service Charge Indicate Fee or Charge300 400_2: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_7: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_8: |
| Direct Fee or Service Charge Indicate Fee or ChargeNo_3: |
| Direct Fee or Service Charge Indicate Fee or ChargeNo_4: |
| Direct Fee or Service Charge Indicate Fee or ChargeCheck to ACH Conversion: |
| Direct Fee or Service Charge Indicate Fee or ChargeYes_9: |
| Direct Fee or Service Charge Indicate Fee or Charge4 6: |
| Direct Fee or Service Charge Indicate Fee or Charge10 20: |
| Direct Fee or Service Charge Indicate Fee or ChargeInterested: |
| Direct Fee or Service Charge Indicate Fee or Charge5 10: |
| 3 Year Contract: |
| 2 Year Contract basis points: |
| undefined: |
| undefined_2: |
| undefined_3: |
| undefined_4: |
| undefined_5: |
| undefined_6: |
| undefined_7: |
| undefined_8: |
| undefined_9: |
| undefined_10: |
| Financial Institution Name: |
| Address: |
| Phone Number: |
| Primary Contact: |
| Email Address: |
| Printed Name Title: |
| Date: |
| Financial Institution: |
| Dropdown1: [YES] |
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