229-20250408111201 jcsd

The Jackson County School District (JCSD) is seeking a banking institution to serve as its official depository for a three-year contract period from July 1, 2025, to June 30, 2028. The procurement solicits comprehensive financial services, including management of checking and savings accounts across multiple account types such as activity funds, clearing accounts, and special purpose savings accounts. Required banking services encompass same-day ledger credit for deposits, no-charge transactions, direct deposit payroll services, internet banking access, and remote check deposit capabilities. Potential bidders must be FDIC insured and maintain a primary capital to assets ratio of at least 5.5%, with interest rates tied to the U.S. Target Federal Funds Rate. The bid requires detailed information about local branch presence, employee count in Jackson County, and willingness to provide services like positive pay, ACH transactions, and account reconciliation. The proposal is due by April 30, 2025, with the solicitation originally posted on April 9, 2025, giving potential respondents approximately three weeks to prepare and submit their comprehensive bid package.

While the document does not explicitly outline specific set-aside designations or restrictions for disadvantaged enterprises, it does indicate a preference for local financial institutions with established presence in Jackson County. The current account types have average monthly balances ranging from approximately $15,950 to $34,089,159, suggesting a significant financial opportunity for the selected depository institution. The bid includes an extensive Exhibit A detailing the district's current account structures and service usage, which will help potential bidders understand the full scope of required banking services. Although specific award values are not disclosed, the comprehensive nature of the services and the substantial account balances indicate a potentially lucrative contract for the selected financial institution. The procurement emphasizes transparency, with requirements for monthly statements, annual reports, and cooperation with district financial audits, suggesting a thorough and rigorous selection process.