REQUEST FOR PROPOSAL (RFP) 27-16

BANKING SERVICES

THE UNIVERSITY OF SOUTHERN MISSISSIPPI

September 18, 2026

Opening Date and Time:

October 8, 2026

2:00 PM CDT

TABLE OF CONTENTS

PART I - INFORMATION FOR VENDORS

1. 1. Introduction

1. 2. Required Services

1. 3. Vendor Responsibility

1. 4. Contract Information

1. 5. Term of Contract

1. 6. Volume Estimates

1. 7. Termination of Agreement

1. 8. Oral and/or Written Presentations

1. 9. Reservation

1. 10. Anticipated Schedule of Events

PART II - PROPOSAL REQUIREMENTS

2. 1. Introduction

2. 2. Services Agreement

2. 3. Interested Parties

2. 4. Service Philosophy

2. 5. Transition Assistance

2. 6. Terms and Conditions

2. 7. Investment Return

2. 8. Cost of Services

PART III - PROPOSAL PROCEDURES

3. 1. Proposal Format

3. 2. Proposal Submission

3. 3. Proposal Opening

3. 4. Addenda and Interpretations

3. 5. Proprietary Information

3. 6. Caution to Vendors

PART IV - EVALUATION AND SELECTION PROCESS

4. 1. Proposal Evaluation

4. 2. Evaluation Criteria

APPENDIX A - DESCRIPTION OF PRESENT OPERATIONS

A. 1. Background

A. 2. Operation

A. 3. Interest

A. 4. Reporting

A. 5. Key Vendor Relationship

A. 6. Other………………………………………………………………………... 16

Exhibit 1 - Present Bank Account Structure

Exhibit 2a - Analysis of Electronic Deposit Account Activity

Exhibit 2b - Analysis of Remote Deposit Account Activity

Exhibit 2c - Analysis Disbursement Account Activity

APPENDIX B - PAYROLL DIRECT DEPOSIT (ACH) PROCESSING

B. 1. Background

B. 2. Processing Procedures

B. 3. Costs

APPENDIX C - REQUIRED FORMS AND DOCUMENTATION

Exhibits - Bank Services Price Schedules

APPENDIX D - OTHER INFORMATION FOR VENDORS

Exhibit 1 - Bank Reconciliation File Layout……………………………………. 30

Exhibit 2 - Positive Pay File Layout…………………………………………….. 32

1 PART I - INFORMATION FOR VENDORS

1.1 INTRODUCTION - It is the intent of The University of Southern Mississippi (USM) to issue a contract to one bank service provider for the products outlined in PART I, Paragraph 1.2 - REQUIRED SERVICES. In seeking these services, USM's goals are to receive, at a reasonable cost, accurate depository and account maintenance services, enhanced collections and funds availability, effective use of disbursement float, maximization of investment income and prudent banking advice.

1.2 REQUIRED SERVICES – Vendors must agree to provide the following services. USM recognizes that technological advancement may provide options for operational enhancements.

A. Accounts - A series of interest-bearing demand deposit accounts as required by

USM. The number of accounts and specific configuration to be flexible and determined over the contract life and based on actual and anticipated USM business requirements. At the initial contract date (01/01/2027) the envisioned account structure would be similar to that described in Appendix A -

DESCRIPTION OF PRESENT OPERATIONS.

B. Statements - Monthly statements for each active account as of the last day of each month. Deposit numbers must be provided for all account credits and listed by ascending dollar value by date. A listing of checks and wires cleared in numeric order must be provided along with an electronic file transmission to be used for USM reconciliation (Appendix D Exhibit 1). The physical cleared checks, or a legally and USM acceptable alternative (imaging) must be sorted in numeric order and returned.

C. Daily Electronic Deposit Notification – Daily automatic notification through the Fed EDI program via the Federal Reserve of all funds deposited by ACH, including complete addenda records. Email notification of all funds received by wire transfer. This information must be supplied within 24 hours of receipt of funds.

D. Local Depository - Vendor must have a full service, staffed branch within 10 miles of the USM campuses in Hattiesburg, Long Beach, and Ocean Springs capable of providing USM coin, check or deposit needs or demonstrate equivalent service capabilities acceptable to USM.

E. Online Banking System – A dynamic online system is required by the University to expedite and simplify banking functions. The online banking system should include, at a minimum, the following:

• Internal Account Transfers

• Direct Deposit (ACH)

• Positive Pay or similar fraud prevention

• Wire Transfers

• Account balance and activity inquiry with downloadable data

• Online statements including check images and downloadable data

• Stop payments

F. Wire Transfers (International and Domestic) – Secure system for wire transfer of funds by authorized USM personnel to include ability to transfer funds in foreign currency. Bank should preferably have its own SWIFT code. Vendor should provide a unique identifier for each wire transaction to facilitate accurate and efficient reconciliation. USM requires a downloadable file of wire payments each month to aid in reconciliation of the General and Payroll Accounts. This file should be compatible with the layout specified by USM (see Appendix D Exhibit 1)

G. Positive Pay – The vendor must be able to receive and process USM’s Positive

Pay files for both Accounts Payable and Payroll. They should also confirm their system can accommodate USM’s required file layout (Appendix D Exhibit 2)

H. Return Items - Any returned items to be debited to the account of original deposit. Items and appropriate debit slips to be scanned and emailed to appropriate USM personnel. Electronic notification of returns of large items ($2,500.00 or more) must be presented to USM within 24 hours of the contract bank’s receipt of the intent to return item.

I. Reconciliation – USM requires a downloadable file of cleared checks each month for aid in reconciliation of the General and Payroll Accounts. This file should be compatible with the layout specified by USM (see Appendix D Exhibit1)

J. Account Analysis - An account analysis statement for each active account and a consolidated analysis detailing the entire banking relationship with USM at month end, preferably retrievable online.

K. Direct Deposit (ACH) Processing - Software or secure Internet site for transmission of computer file to process direct deposit of payroll disbursements, accounts payable disbursements, student refunds (not currently used, but want the ability to add in the future if needed), and travel disbursements. Immediate notification of returned ACH items via Fed EDI email notification system. USM ACH files are provided in NACHA format. If there are any file specific requirements or unique formatting elements, the bank will need to adjust it’s mapping as necessary to accept and process USM’s NACHA files.

L. USM has entered into a contract with Transact Payments to accept online credit card and ACH payments on student accounts. USM would like the ability to accept ACH transactions for payment of student accounts in the future, if needed.

M. Remote Deposit Capture – Ability to make deposits to designated USM accounts by scanning checks on desktop equipment located in various USM offices.

N. Fraud Prevention and Cybersecurity – Vendor shall provide fraud prevention and cybersecurity measures to protect accounts, transactions, banking systems and confidential information. Services shall include monitoring, notification of suspicious activity, and controls designed to mitigate fraud, unauthorized access, and cyber threats.

O. Business Continuity and Disaster Recovery – Vendor shall maintain documented

Business Continuity and Disaster Recovery plans to ensure the timely recovery of critical banking services and the continued protection of customer funds and data during disruptions.

P. Other - In addition to the above specific services the vendor must agree to provide the following miscellaneous services on an "as needed" basis.

• Night Depository access and locked night depository bags.

• Rolled Coins

• Coin and Money wrappers

• Deposit Slips in Book Form (to USM specifications)

• Bank Checks

• International Check Collection

1.3 VENDOR RESPONSIBILITY - Vendor must agree to the following stipulations

A. The vendor shall be financially responsible for obtaining all permits, licenses and bonding requirements to comply with all applicable city, county, state and/or federal laws and regulations and assumes liability of all applicable taxes.

The vendor agrees to observe and comply with federal and state laws, local laws, ordinances, orders, and regulations existing at the time of or enacted subsequent to the execution of the contract which in any manner may affect the completion of the work. The vendor shall indemnify and save harmless The University of Southern Mississippi and all its officers, representatives, agents and employees against any claim or liability arising from or based upon the violation of any such law, ordinance, regulation, order, or decrees by an employee, representative or subcontractor of the vendor.

C. The vendor must be designated by the Mississippi State Treasurer as a Qualified State Depository and remain in good standing throughout the contract term, including compliance with all collateralization reporting, and public funds protection requirements of Mississippi law. The vendor shall provide documentation of its collateral pledging, safekeeping, and reporting processes upon request.

D. The vendor agrees to permit USM designated representatives and auditors access to all records pertinent to USM's relationship and transactions on an as needed basis and at mutually acceptable times.

E. The vendor agrees to provide a team of customer support for USM to resolve any problems reported as soon as possible. It further agrees to provide a representative to attend a meeting on-site at USM for problems in which vendor action does not commence within five (5) business days of reporting by USM, or if vendor progress is not satisfactory to USM.

F. Vendor agrees that it will not subcontract any of the services covered by the contract without prior written permission from The University of Southern Mississippi.

Vendor agrees to disclose in their proposal any services to be subcontracted at contract initiation.

1.4 CONTRACT INFORMATION - This RFP, any amendments to it, the vendor's proposal and any other official documents and correspondence will become part of the contract.

Vendors will be asked to submit a sample of their proposed terms and conditions with their proposal. Vendors should take note of the following regarding the State's contracting authority and amend any documents accordingly.

A. The State of Mississippi may not contract with another party where it is required:

1. To pay any penalties or charges for late payment or any penalties or charges which in fact are penalties for any reason.

2. To indemnify, defend, or hold harmless the party for any liability and damages.

3. Upon default, to pay all sums to become due under the contract.

4. To pay damages, legal expenses, or other costs and expenses to any party, unless so ordered by a court of competent jurisdiction.

5. To agree to any provision of a contract which violates the laws and

Constitution of the State of Mississippi.

B. A party wishing to contract with The University of Southern Mississippi must:

1. Remove any language from its contract which grants to it any remedies other than:

a. The right to possession.

b. The right to accrued payment.

2. Include in its contract that the laws of the State of Mississippi shall govern the contract.

3. Acknowledge in its contract that contracts become effective when awarded by The University of Southern Mississippi.

1.5 TERM OF CONTRACT - This agreement shall be for a period of five (5) years beginning on January 1, 2027 and ending on December 31, 2031.

1.6 VOLUME ESTIMATES - The volume of transactions listed in the appendices of this RFP represent either historical data or are estimates. They in no way represent either a minimum or maximum volume commitment on the part of The University of Southern Mississippi.

1.7 TERMINATION OF AGREEMENT - Either party may terminate the agreement at any time without cause by giving the other party not less than one hundred eighty (180) days prior written notice of its intent to terminate.

1.8 ORAL AND/OR WRITTEN PRESENTATIONS/DEMONSTRATIONS - In the event USM deems it necessary to have the bidder further explain or demonstrate various portions of a proposal, the vendor shall make oral and/or written presentations to comply with the requirement. USM will schedule the time and location of each presentation. All presentations are subject to being recorded.

Presentations may, at the discretion of USM, include visits to the physical locations where requested services will be provided.

A Vendor’s refusal to honor the request for oral presentation may result in rejection of the proposal.

1.9 RESERVATION - This RFP does not commit USM to award a contract, to pay costs incurred in the preparation of a proposal in response to this request, or to procure or contract for services or supplies. USM reserves the right to accept or reject all or any part of any proposal received as a result of the RFP, if it is in the best interest of USM to do so.

1.10 ANTICIPATED SCHEDULE OF EVENTS - The following represents a tentative list of important dates concerning this RFP. Deviations from this schedule will be disseminated to potential vendors as described in PART III, Paragraph 3.4 - ADDENDA

AND INTERPRETATIONS.

Release RFP September 18, 2026

Deadline for Submitting Questions September 28, 2026

Response to written questions (Addendum, if needed) October 1, 2026

Proposal Submission Deadline October 8, 2026

Contract(s) Award Decision (approx.) October 15, 2026

Contract Negotiations Finalized October 29,2026

New Contract(s) Activation January 1, 2027

2 PART II - PROPOSAL REQUIREMENTS

2.1 INTRODUCTION - Vendors must provide the following information and completion on or before the stated closure date. Failure to comply with this stipulation may result in the rejection of the submitted proposal.

2.2 SERVICES AGREEMENT - Vendor must provide a brief narrative stating its agreement to provide, at a minimum, the services detailed in PART I, Paragraph 1.2 – REQUIRED SERVICES and to meet the terms stipulated in PART I, Paragraph 1.3 - VENDOR

RESPONSIBILITY.

2.3 INTERESTED PARTIES - Vendor must provide, for its Hattiesburg location and its parent corporation, a list of senior executive officers, any significant shareholders (over 10%), and the Board of Directors of the firms. Include a statement describing any significant current relationships between these persons and The University of Southern Mississippi. In this context a significant current relationship would be defined as one through which a disinterested party may feel that the involved individual could directly or indirectly influence the RFP selection process.

2.4 SERVICE PHILOSOPHY - USM considers it essential that the selected vendor be progressive in their business approach and committed to quality and customer service.

To provide USM insight into the corporate mission of its organization, the vendor must provide the following:

A. Corporate Structure and Credentials

1. Number of years of experience

2. Organizational chart

3. Provide a summary of the vendor’s financial condition, including capital ratios, liquidity position credit ratings (if applicable), and recent regulatory examination results. Describe any material regulatory actions, consent orders, or significant operational events during the past five years.

4. Provide three public higher education or governmental clients comparable in size and complexity to the University, two customers who have achieved a successful transition to your institution within the past two years and contact information for each. USM reserves the right to specifically discuss service quality, responsiveness, implementation, and issue resolution.

5. Describe the dedicated service team that will support USM throughout the contract term. Identify the primary Relationship Manager, Treasury Management Officer, Operations Support Contact, and backup personnel.

Include years of experience the approximate number of institutional relationships each individual supports, their physical location, and the process for escalation of urgent operational issues.

B. Operations and Ability to Perform

1. Provide operation plan. This should include, but not be limited to, acknowledgement and agreement with all requirements as well as explanations, where applicable, of the intended plan to achieve the requirements.

2. Describe how banking services will be delivered to USM, including staffing, service support, and account management.

3. Provide samples of any reports that will be available to provide all necessary information to USM

4. Describe your standard process for resolving significant operational issues, including failed ACH transmissions, delayed wire transfers, fraud events, system outages, and reconciliation discrepancies. Include escalation procedures, executive involvement, and expected resolution timelines.

5. Describe your institution’s service level standards, including expected response times for routine inquiries, wire transfer requests, ACH exceptions, online banking issues, fraud events, and after-hours emergencies. Identify whether these service standards are contractually supported.

C. Describe how your institution views long-term banking relationships with higher education clients. Discuss how your institution supports evolving treasury needs, capital projects, financing opportunities, and other banking services beyond traditional depository accounts.

D. A brief description of any local clearinghouse or international collection arrangements the vendor has which may affect USM transactions. Indicate other organizations which participate in these relationships.

E. Describe briefly the procedures used to resolve overdrafts caused by funding failures as a result of improper funds or wire transfer failure. Indicate under what conditions the vendor would be willing to cover any unfunded checks presented.

F. Describe your online treasury management platform. Finalists may be requested to provide a live demonstration of the system, including wire initiation and approval, ACH processing, Positive Pay, reconciliation reporting, fraud monitoring, account reporting and mobile functionality. Describe planned enhancements to your treasury management platform over the next five years. Include anticipated improvements in payment technology, fraud prevention, reporting capabilities, automation, artificial intelligence, and digital banking functionality.

G. Describe the fraud prevention and cybersecurity services available to USM including fraud detection and prevention tools, user authentication controls, account monitoring capabilities, incident response procedures, and customer notification processes.

H. Describe the business continuity and disaster recovery capabilities, testing practices, recovery objectives, and procedures for maintaining operations and restoring services in the event of a natural disaster, system outage, cybersecurity incident, or other business interruption.

2.5 TRANSITION ASSISTANCE - Realizing that changing banking relationships can be very costly for USM, vendor must provide a detailed description of the services that will be provided to assist in the transition. Identify the implementation manager who will oversee the conversion and describe their experience transitioning comparable higher education institutions the anticipated project timeline, key milestones, on-site support provided during implementation, and post conversion support available during the first twelve months. This should include but not be limited to discussion of ACH debits and credits, outstanding disbursement checks, etc. Costs for this service should be listed on pricing schedule (Appendix C. Exhibit 1a-1h). In addition, USM seeks financial assistance from new vendors to offset transition costs incurred by USM should a new vendor be selected to provide banking services.

2.6 TERMS AND CONDITIONS - Vendor must supply samples of any proposed agreements required to initiate the contract(s). These should be modified to reflect the requirements stated in PART I, Paragraph 1.4 - CONTRACT INFORMATION.

2.7 INVESTMENT RETURN - Using the following table, the vendor must indicate the interest rate which USM will earn on available balances. Describe the methodology used to determine proposed deposit interest rates and earnings credit rates. Indicate whether the proposed pricing reflects standard relationship pricing, promotional or introductory pricing, or any assumptions regarding future relationship expansion.

Explain how pricing will be adjusted over the contract term.

Vendor must also provide an illustrative example of the computation.

Available Balance Interest Rate

$ 1 - 5,000,000

$ 5,000,000 - 10,000,000

$10,000,000 and Over

2.8 COST OF SERVICES - Vendor must supply a comprehensive listing of prices for services that may be incurred by USM. Appendix C, Exhibits 1a – 1h must be completed for that purpose. Any requested pricing that is not applicable may be marked N/A. Any potential additional costs not requested should be added to the form. This pricing will remain effective for the length of the original contract.

3 PART III - PROPOSAL SUBMISSION PROCEDURE

3.1 PROPOSAL FORMAT- All paragraphs of PART II, PROPOSAL REQUIREMENTS, of this RFP must be responded to by the vendor. Vendors must address each of the requirements of this RFP by the same paragraph number sequence, stating the requirement and providing a response. Vendor responses should contain sufficient information and/or detail for USM to determine the vendor has met ALL aspects of the requirement and for USM to further evaluate the merit of the vendor's response.

In cases where specific forms or documents are necessary to fulfill the requirements, copies of these items have been provided in Appendix C and may be copied for use in proposal submission.

3.2 PROPOSAL SUBMISSION - Vendors must submit one (1) signed original, one (1) copy and one (1) electronic copy (preferably scanned to a flash drive) of their proposal to the address listed below prior to the deadline established in Part III, Paragraph 3.3, PROPOSAL OPENING. Documentation and/or forms requiring additional original signed copies as specified in PART II must be submitted in the quantity and format designated to one of the addresses below.

In order for your bid to be considered, it must be received and time stamped in our office by 2:00 P.M. of the bid opening date. It is the responsibility of the vendor to ensure their bid is received within the appointed time. If your bid package is not received in Bond Hall, Room 214, by 2:00 P.M. of the bid opening date, it will not be considered.

If you are delivering your bid, you need to hand carry the bid package to:

The University of Southern Mississippi Procurement Services Bond Hall, Room 214 Hattiesburg, Mississippi RFP 27-16 Banking Services

If you are mailing your bid package via U.S. Postal Service, mail to: The University of Southern Mississippi Procurement Services 118 College Drive #5003 Hattiesburg, MS 39406-0001 RFP 27-16 Banking Services

If you are express mailing your bid package via Federal Express or UPS, or any other delivery service which requires the use of a physical address, deliver to:

The University of Southern Mississippi

Receiving Department 2609 West 4th Street Hattiesburg, MS 39401 RFP 27-16 Banking Services

As an alternative to traditional sealed bids in envelopes, USM is capable of receiving electronic bid responses. While this option is available, it is not required and we ask that all potential respondents keep in mind that with any electronic system there could be delays or glitches with the submission process; therefore, the University highly encourages traditional, sealed proposals that are either mailed or submitted in person. Should a vendor choose to submit their response electronically, please follow the instructions below using the following website:

https://www.ms.gov/dfa/contract_bid_search/Home/Sell. On this site you will find helpful links to procurement opportunities, as well as a link to supplier registration. If not already registered in this system, potential bidders will first need to click on ‘Supplier Registration’ and follow the steps outlined (a one-time process). Once registered, they can return to the original website and click on ‘Procurement Opportunities’ where they can either search by keyword for the bid they desire to respond to or leave the search box blank and click ‘Search’ for a listing of all current bids and proposals for the various State of Mississippi offices.

PLEASE NOTE: USM does not operate the online submission portal. If you experience any problems with submitting your response through M.A.G.I.C. please email the M.A.G.I.C. IT Helpdesk at mash@dfa.ms.gov. USM is not responsible for bids missing the deadline due to system issues or other delays in delivery.

3.3 PROPOSAL OPENING - Proposals MUST be received prior to 2:00 PM CDT, October 8, 2026, at which time they will be opened. Proposals must be received prior to the date and time set for opening. The officer whose duty it is to open the proposals will announce when the opening time has arrived and no proposal received thereafter will be considered. The officer will assume no for the premature opening of a proposal that was not properly addressed and identified.

3.4 ADDENDA AND INTERPRETATIONS - No interpretations of the meaning of this RFP, specifications, or other pre-proposal documents will be made to any vendor orally.

Every request for answers to questions or an interpretation should be in writing and delivered or submitted by email (preferred) to the following:

bids@usm.edu Subject Line: Banking Services RFP 27-16 Question(s)

To be given consideration, the request must be received on or before 4:00 PM CST September 28, 2026. "Interpretation Requested" or “Questions” and the RFP number must be clearly written in the subject line of the email. Any and all such interpretations and any supplemental instructions and/or answers may be issued in mailto:mash@dfa.ms.gov mailto:bids@usm.edu the form of a written addenda to the RFP if applicable to all proposers, and, if issued, all prospective vendors will be notified via email who have notified USM of their intent to bid not later than October 1, 2026. Failure of any vendor to receive such addendum or interpretations shall not relieve such vendor from any obligation under his proposal as submitted. All addenda so issued shall be posted on USM Procurement’s Bid Calendar, and will become part of the RFP documents.

3.5 PROPRIETARY INFORMATION - Proprietary information submitted in response to this RFP must be clearly identified as proprietary, then packaged and sealed as a separate component of the proposal. Proposals and documents pertaining to the RFP become the property of USM and shall be open to public inspection after award, excluding proprietary information as exempted by law. Notwithstanding the foregoing, USM is an agency of the State of Mississippi and is subject to the Mississippi Public Records Act, Miss. Code Ann. § 25-61-1, et seq. No party to this agreement shall be liable to the other party for disclosures of information required by court order or as required by law.

3.6 CAUTION TO VENDORS - USM reserves the right to accept or reject in part or its entirety, any proposal received as a result of the RFP if it is in the best interest of the University to do so. Proposals may be rejected for one or more of, but not limited to, the following reasons:

A. Failure of the vendor to adhere to one or more of the provisions established in this

RFP.

B. Failure of the vendor to submit its proposal in the format specified in PART III, Paragraph 3.1, PROPOSAL FORMAT.

C. Failure of the vendor to adhere to generally accepted ethical and professional principles during the proposal and selection process.

D. Failure of the vendor to respond to a request for oral or written demonstrations or presentations.

E. Failure of the vendor to comply with the intent of any statement in this document which has the word "must", "should" or "shall" in it.

F. Failure of the vendor to have an authorized officer sign the proposal cover sheet.

4 PART IV - EVALUATION AND SELECTION PROCESS

4.1 PROPOSAL EVALUATION - Banking Services proposals will be evaluated by committee membership where the final decision will be based on a consensus scoring of the committee.

4.2 EVALUATION CRITERIA AND AWARD PROCESS

A. USM reserves the right to conduct discussions with any or all respondents, or to make an award of a contract without such discussions based only on evaluation of the written proposals, and/or to solicit Best and Final Offers from respondents. USM reserves the right to contact and interview anyone connected with any past or present projects with which the respondent has been associated. USM likewise reserves the right to designate a review committee to evaluate the proposals according to the criteria set forth under this section. USM may make a written determination showing the basis upon which the award was made and such determination shall be included in the procurement file.

B. USM reserves the right to award this contract in whole or in part depending on what is in the best interest of USM with USM being the sole judge thereof.

C. The evaluation factors set forth in this section are described as follows:

• Service team, responsiveness and relationship coverage (30%)

• Operational capabilities, technology, and controls (25%)

• Financial Value: earnings, fees and pricing sustainability (20%)

• Implementation and transition plan (10%)

• Relevant Higher Education experience and references (10%)

• Financial strength and long-term institutional capacity (5%)

D. BEST AND FINAL OFFER. The University reserves the right to solicit Best and

Final Offers (BAFOs) from respondents, principally in situations in which proposal costs eclipse available funding, or the University believes none of the competing proposals presents a Best Value (lowest and best proposal) opportunity. Because of the time and expense incurred by both the respondent community and the University, BAFOs are not routinely conducted.

Respondents should offer their best pricing with the initial solicitation.

Situations warranting solicitation of a BAFO will be considered an exceptional practice for any procurement. Respondents that remain in a competitive range within an evaluation may be requested to tender Best and Final Offers, at the sole discretion of the University. All such Respondents will be provided an equal opportunity to respond with a BAFO under a procedure to be defined by the University that encompasses the specific, refined needs of a project, as part of the BAFO solicitation. The University may re-evaluate and amend the original project specifications should it be deemed necessary in order to improve the opportunity for attaining Best Value scenarios from among the remaining competing Respondents. All BAFO proceedings will be uniformly conducted, in writing, and be subject to solicitation by the University and receipt from the Respondents under a precise schedule.

E. Upon intent of award of the contract(s), successful respondent(s) will be asked to provide a transition plan and timeline, and obtain USM’s input and concurrence before moving forward in finalizing a contract.

APPENDIX A - DESCRIPTION OF PRESENT OPERATIONS

BACKGROUND – The University of Southern Mississippi currently operates a cash management system consisting of nine (9) bank accounts. A graphic representation of the interaction of these accounts is provided as Appendix A, Exhibit 1. Accounts may be added or closed as necessitated by USM business requirements.

OPERATION - Most of the activity within the current system takes place in nine (9) accounts.

Main Account General Account Payroll Account

Payment Card Account Business Services Operating Account

Student Loan Account Student Liability Insurance Account

Loan Fund Cash Account Student Wire Account

The following transfers occur automatically each night:

• The General, Payment Card, Payroll, and Student Wire Accounts sweep daily from the Main

Account to maintain zero balances.

Potential Additional Accounts:

• Football Travel Account

• Women’s Basketball Travel Account

• Men’s Basketball Travel Account

INTEREST - All USM accounts which are interest bearing earn a floating interest rate of Fed Funds Target minus 1.00% with a floor of .05%.

REPORTING - Bank statements on all accounts are received monthly with a month end cutoff date.

The bank statements should be broken into sections of: Deposits and Other Credits, Checks (General and Payroll accounts), Other Debits, and DR and CR transfer Activity.

Monthly bank statements listing checks in numerical order for Disbursements and Payroll accounts are received by USM. Check images of the cleared checks are included with each statement. A separate file is made available to USM Controller’s Office which includes all the checks that cleared for the month. This is downloaded into USM’s bank reconciliation system and matched to checks written. All activity is available for a period of time of at least 6 months on the internet banking system. Direct Deposit (ACH) processing is discussed separately in

Appendix B. A separate file is also made available for all cleared wires.

Daily bank transactions are available via the Internet for all University of Southern Mississippi accounts (represented in Appendix A, Exhibit 1). This includes information on incoming wire transfers and/or miscellaneous deposits. Detailed Automated Clearing House (ACH) activity is made available to USM daily.

A.5 KEY VENDOR RELATIONSHIP – In August 2011, USM entered into a relationship with Transact Payments to support e-commerce processing for incoming payments. All credit card and student ACH transactions are processed through the off-site Transact Payments system and no credit card information is stored on any system at USM at any time.

OTHER - The following statements cover other miscellaneous bank related activity.

• Stop Payments - Check stop payments are issued by completing the bank’s Stop/Pay Order form and faxing it to the bank. Once completed, the bank faxes a confirmation to the appropriate personnel.

• Transfers - All manual (non-sweep) transfers are made via the internet by authorized Finance and Administration Division personnel.

• Wire transfers – Outgoing wire transfers are initiated by authorized Finance and Administration Division personnel and released by separate authorized Finance and Administration Division personnel.

• Return Items - Any returned items are debited to the account of original deposit. These are received in person from the local branch when incurred and include the appropriate documentation.

APPENDIX A

EXHIBIT 1

EXHIBIT 2a

ANALYSIS OF ELECTRONIC DEPOSIT ACCOUNT ACTIVITY

JANUARY 1, 2025 THROUGH DECEMBER 31, 2025

GENERAL ACCOUNT

PAYMENT CARD

ACCOUNT

MONTHLY AVERAGE 495 661

Accounts that receive incoming wires: General Account, Payroll Account, Student Wire Account

Accounts that receive ACH credits: General Account, Payroll Account, Direct Loans, Student Loans

EXHIBIT 2b

ANALYSIS OF REMOTE DEPOSIT ACCOUNT ACTIVITY

REMOTE DEPOSITS

AVERAGE PER MONTH 12

EXHIBIT 2c

ANALYSIS OF DISBURSEMENT ACTIVITY

GENERAL

ACCOUNT

PAYROLL

ACCOUNT

TOTAL

ACCOUNTS

AVERAGE

MONTHLY

DISBURSEMENTS 1,148 199

1,346

APPENDIX B - DIRECT DEPOSIT (ACH) PROCESSING

B.1 BACKGROUND – The University of Southern Mississippi currently offers payment by direct deposit for payroll disbursements, accounts payable disbursements, and travel advances and reimbursements.

Currently a computer file (in approved NACHA format) is created for each of the disbursement types described above.

Payroll direct deposit files are processed biweekly with an effective posting date of the Thursday before Friday of each biweekly pay week and monthly with an effective posting date of the day before the last business working day of the month. The files are currently imported into the internet banking system of USM’s current banking services provider and released to be processed. This takes place two days prior to the effective date of the payroll direct deposits.

Files for the accounts payable disbursements and travel disbursements are created Monday through Thursday. The ACH payment file is imported into the internet banking system of USM’s current banking service provider and released to be processed prior to 4:00 p.m., with 4:00 p.m. being the deadline for release of next-day effective files.

B.2 PROCESSING PROCEDURES – Describe in detail how a USM ACH file would be processed.

Include a description of any bank required software and applicable file verification techniques. Specifically address the following issues.

A. Describe any vendor-imposed limitations as to accessible financial institutions, geographical locations, etc.

B. Indicate the latest time at which ACH information may be transmitted to or received by the contract bank to ensure next day availability at the receiving bank.

C. Describe the processing controls in place to ensure that all ACH activity has been processed and released by authorized USM personnel and transmitted to the appropriate banks and accounts in the appropriate time frame.

D. Describe the vendor’s ability and/or limitations in “warehousing” transmitted ACH files until the appropriate submission date.

B.3 COST – Costs that would be associated with your institution processing USM’s Direct

Deposit (ACH) activity should be listed on the pricing schedule (Appendix C, Exhibits 1a,1f). This should include any set up, per item and/or per transmission costs.

APPENDIX C – PRICING SCHEDULE

APPENDIX C

EXHIBIT 1a

BANK SERVICES PRICING SCHEDULE

GENERAL ACCOUNT

Estimated

Monthly

Per Unit

Per Month

Service Provided Volume Cost Cost

Monthly Bank Statement 1

Average Monthly Balance * $ 63,096,566

Other Charges (please itemize):

Total Monthly Fees $

EXHIBIT 1b

STUDENT LOAN ACCOUNT

Per

Average Monthly Collected Balance $ 16,835,233

EXHIBIT 1c

PAYMENT CARD ACCOUNT

Per Month

Average Monthly Collected Balance $ 5,223,437

EXHIBIT 1d

BUSINESS SERVICES ACCOUNT

Per

Service Provided Cost Cost

EXHIBIT 1e

STUDENT WIRE ACCOUNT

EXHIBIT 1f

PAYROLL ACCOUNT

EXHIBIT 1g

STUDENT LIABILITY INSURANCE ACCOUNT

Per Unit Per Month

EXHIBIT 1h

STUDENT LOAN FUND ACCOUNT

APPENDIX D -OTHER INFORMATION FOR VENDORS

APPENDIX D

EXHIBIT 1

Wire Bank Transaction File Specification

File Format

• Type: Comma-Separated Values (CSV)

• Delimiter: Comma (,)

• One transaction record per line

Record Layout

Field Name Length Format Required Notes

Date 8 MMDDYYYY Yes Example: 08282026

Routing Number 10 Numeric Yes

Account Number 10 Numeric Yes

Description 30 Text Yes Example: THE UNIVERSITY OF SOUTHERN MIS

Transaction Type 11 Text Yes Example: WIREOUT/WIREIN

Payment Status 6 Text Yes Example: PAID

Debit/Credit Indicator 8 Text Yes Valid values: DEBIT OR CREDIT

Amount 23,2 Numeric Yes Format: 500.00

Bank Reference 10 Numeric Yes Example: 2800002200

Customer Reference 10 Numeric/Text Yes Example: 2800002200

Sample Record – CSV Format

"08282026",xxxxxxxxxx,xxxxxxxxxx,THE UNIVERSITY OF SOUTHERN MIS,WIREOUT,PAID,DEBIT,2000.00,2800002200,"2800002200"

Validation Requirements

1. Date must be a valid date in MMDDYYYY format.

2. Amount must contain two decimal places.

3. Bank Reference must be exactly 10 characters.

4. Customer Reference must be exactly 10 characters.

5. All required fields must be populated.

General and Payroll Bank Transaction File Specification

File Format

The Bank must provide a Check Reconciliation file containing cleared/paid check activity for the designated checking account(s).

The file must be provided in a comma-delimited (CSV) format. Each transaction must be provided as a separate record, with fields appearing in the order and format specified below.

The Bank's file must support the reconciliation of check activity against the University's internal check records.

Record Layout

Field Name Length Format Required Notes

Date 8 MMDDYYYY Yes Example: 08212026

Routing Number 10 Numeric Yes

Account Number 10 Numeric Yes

Description 30 Text Yes Example: GENERAL

Transaction Type 11 Text Yes Example: DDA CHECK

Payment Status 6 Text Yes Example: PAID

Debit/Credit Indicator 8 Text Yes Valid values: DEBIT OR CREDIT

Amount 23,2 Numeric Yes Format: 500.00

Bank Reference 10 Numeric Yes Example: 0000016090

Customer Reference 10 Numeric/Text Yes Example: 0000016090

Sample Record – CSV Format

“08212026”,xxxxxxxxxx,xxxxxxxxxx,GENERAL ,DDA CHECK,PAID,DEBIT ,5,886.83,0000016090,”0000016090”

APPENDIX D

EXHIBIT 2

Payroll Positive Pay File

The Payroll Positive Pay file should contain the following fields:

Field Format/Length

Bank Account 10 digits

Paycheck Number 6 digits

Net Pay 23 digits, including 2 decimal places

Check Date MM/DD/YYYY

Paycheck Status F

Name Up to 50 characters

Example:

999999999,723423,3084.60,08/31/2026,F,Jane Doe

Accounts Payable Positive Pay File

The Accounts Payable Positive Pay file should contain the following fields:

Field Format/Length

Account Number 10 digits

Field Format/Length

Payment ID/Reference 10 digits

Payment Amount 23 digits, including 2 decimal places

Payment Date YYYYMMDD

Status IS

Name Up to 50 characters, enclosed in quotation marks

Example:

9999999999,0007054360,3000.00,20260625,IS,"DOE,JOHN"

APPENDIX E – USM GENERAL TERMS AND BIDDERS INSTRUCTIONS

1.) Failure to examine any drawings, specifications, and instructions will be at bidder’s risk.

2.) Samples of items when called for must be furnished free of expense and if not destroyed in testing, will, upon request, be returned at the bidder’s expense. Request for the return of samples must be made within ten (10) days following opening bids. Each individual sample must be labeled with bidder’s name and manufacturer’s brand name and number.

3.) As a public entity of the state, we use sealed bidding to ensure “fair and open competition” to ensure no one in the buying organization can influence the bidding process or steer the selection of a particular company by sharing competitive bid information during the solicitation process.

Generally, all bids must remain sealed until they are opened publicly at the time stated in the notice—advance disclosure of the terms of a bid may be cause for rejection of said bid. Bidders should never send advanced copies of a sealed bid via email or screenshots of electronic bids.

Bidders must submit sealed bids to be opened at the time and place stated in the solicitation for the public opening of bids and must not be revealed to the buyer before that time. Bids must be signed and sealed with bidder’s name and address on the outside of the envelope, and the date and time of the bid opening and the bid file number shown in the lower-left corner of the packages, envelopes, express mailing labels, boxes, etc.

4.) In order for your bid to be considered, it must be received and time stamped in our office by 2:00

P.M. of the bid opening date. It is the responsibility of the vendor to ensure their bid is received within the appointed time. If your bid package is not received in Bond Hall, Room 214, by 2:00

P.M. of the bid opening date, it will not be considered.

If you are delivering your bid, you need to hand carry the bid package to:

The University of Southern Mississippi Procurement Dept. (Bid) Bond Hall, Room 214 Hattiesburg, Mississippi

If you are mailing your bid package via U.S. Postal Service, mail to:

The University of Southern Mississippi Procurement Dept. (Bid) 118 College Drive #5003

If you are express mailing your bid package via Federal Express or UPS, or any other delivery service which requires the use of a physical address, deliver to:

The University of Southern Mississippi Procurement Dept. (Bid) 2609 West 4th Street Hattiesburg, MS 39401

5.) Bids or proposals shall not be modified, corrected, altered, or amended after the specified closing time and the opening of such bids, unless otherwise noted in the request for bids or proposals.

6.) The University of Southern Mississippi reserves the right to reject any and all bids, to waive any informality in bids, and unless otherwise specified by the bidders, to accept any items on the bid. If the bidder fails to state the time within which bids must be accepted, it is understood and agreed that The University of Southern Mississippi shall have 60 days to accept. The University of Southern Mississippi reserves the right to make an award to this bid on an all or none basis, or on a line by line basis, whichever serves the best interest of The University of Southern

Mississippi.

7.) Contracts and purchases will be made or entered into with the lowest, responsible bidder meeting specifications.

8.) A written purchase order or contract award mailed or otherwise furnished to the successful bidder within the time of acceptance specified in the Invitation for Bid results in a binding contract without further action by either party. The contract shall not be assignable by the vendor in whole or in part without the written consent of The University of Southern Mississippi.

9.) Bid files may be examined during normal working hours by bid participants. Non-participants will be prohibited from obtaining any information relative to the bid until the official award has been made.

10.) If purchase orders or contracts are canceled because of the awarded vendor’s failure to perform or request for price increase, that vendor shall be removed from our bidders’ list for a period of

24 months.

11.) No addendum will be issued within a period of two (2) working days prior to the time and date set for the bid opening. Should it become necessary to issue an addendum within the two-day period prior to the bid opening, the bid date will be reset giving bidders ample time to answer the addendum.

12.) Alternate bids, unless specifically requested or allowed, will not be considered.

13.) Bid openings will be conducted open to the public. However, they will serve only to open the bids. No discussion will be entered into with any vendor as to the quality or provisions of the specifications, and no award will be made either stated or implied at the bid opening. After the close of the bid opening meeting, the bids will be considered to be in the evaluation process and will not be available for review by bidders. Proposal openings are not required to be open to the public; however, the resulting award is open for public inspection.

14.) Prices quoted shall be firm for the term of the contract or for the stated time of acceptance.

15.) The bidder understands that The University of Southern Mississippi is an equal opportunity employer and, therefore, maintains a policy which prohibits unlawful discrimination based on race, color, creed, sex, age, national origin, physical handicap, disability, or any other such discrimination; and the bidder, by signing this bid, agrees during the term of agreement that the bidder will strictly adhere to this policy in its employment practices and provision of products or services.

16.) Bidders must upon request of The University of Southern Mississippi furnish satisfactory evidence of their ability to furnish products or services in accordance with the terms and conditions of these specifications. The University of Southern Mississippi reserves the right to make the final determination as to the bidder’s ability.

17.) Questions or problems arising from bid procedures should be directed to the Buyer listed on the solicitation at:

The University of Southern Mississippi 118 College Drive #5003

Phone: (601) 266-4131

18.) All items must equal or exceed the specifications listed. The absence of detail specifications or the omission of detail description shall be recognized as meaning that only the best commercial practices are to prevail and that only first quality materials and workmanship are to be used.

19.) It is the intent of the specifications to obtain a product that will adequately meet the needs of the user while promoting the greatest extent of competition that is practicable. It is the responsibility of the prospective bidder to review the entire Invitation to Bid packet and to notify The University of Southern Mississippi if the Specifications, Instructions, General, or

Special Conditions are formulated in a manner which would unnecessarily restrict competition.

20.) It shall be incumbent upon the bidders to understand the specifications. Any requests for clarifications shall be in writing and shall be submitted to our Procurement Services office at least five (5) days prior to the time and date set for the bid opening, unless otherwise noted in the bid or proposal specifications.

21.) The minimum specifications are used to set a standard and in no case are used with the intention to discriminate against any manufacturer. Bidders should note the name and the manufacturer and model number of the product they propose to furnish and submit descriptive literature.

22.) Trade names, brand names, and/or manufacturer’s information used in these specifications are for the purpose of establishing quality, unless otherwise noted. Bids on products of other qualified manufacturers are acceptable, provided they are demonstrated as equal to those specified in construction, design and suitability. Each bidder shall submit with his bid a complete brochure with pictures on each item and shall point out specifically any deviations from the specified items.

Failure to do so may disqualify any bid. Please bid as specified or an approved equal.

23.) A copy of the manufacturer’s standard guarantee/warranty shall accompany and become a part of this bid.

24.) There are no federal or state laws that prohibit bidders from submitting a bid lower than a price or bid given to the U.S. Government. Bidders may bid lower than U.S. Government contract price without any liability as The University of Southern Mississippi is exempt from the provisions of the

Robinson-Patman Act and other related laws. In addition, the U.S. Government has no provisions in any of its purchasing arrangements with bidders whereby a lower price to The University of

Southern Mississippi must automatically be given to the U.S. Government.

25.) All invoices, unless…