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Meeting Date:
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6/14/2021 - 6:30 PM
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Category:
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New Business
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Type:
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Action
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Subject:
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Bank Depository Services
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Board Goals:
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Enclosure
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File Attachment:
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Background & Rationale:
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In accordance with 165.211, RSMo, the Board shall select depositories of money and funds of the District. Depositories may be selected annually or the District and depository may enter into a one to five year contract or agreement for the deposit of the District's moneys or funds.
Following Board approval of the request for proposal for bank depository services, a notice was published in the Jackson County Advocate fulfilling legal requirements. The RFP deadline for submission was April 16, 2018, at 2PM.
UMB submitted the RFP in full. The recommendation is to accept the bid from UMB, incumbent for depository services. The bid would be with an option to renew this Agreement up to four (4) additional one-year terms through July 1, 2023.
Historically the district has awarded the Depository Contract and Pledge Agreement from the Board-approved Bid for Banking Services for the minimum length of one (1) year, with an option by the District to renew for up to four (4) additional years upon satisfactory annual renew.
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Budget to be Charged:
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Depository Fees are within the Business Office Budget
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Motion:
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I move that the Board approve the annual renewal for Depository Contract and Pledge for Banking Services by UMB for the period beginning July 1, 2021 for one (1) year, with an option to renew for up to one (1) additional year upon satisfactory annual review.
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Approvals:
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Recommended By:
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Signed By:
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Jacqueline Vernon - Finance Supervisor
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Signed By:
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Dr. Steve Shelton - Associate Superintendent of Operations
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Signed By:
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Dr. Allan Markley - Superintendent
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