City of Bastrop

The buyer is seeking proposals from financial institutions to serve as its primary banking services depository. The contract will cover deposit of certain City funds and provision of banking functions for designated funds. The buyer aims to minimize banking costs, improve operational efficiency, and maximize earnings through this contract. Services will commence February 1, 2025 and extend through December 31, 2029, pending City Council approval.

• 12/18/2024 - RFP Issue Date
• 1/15/2025 - Proposal Due Date
• 2/1/2025 - Contract Commencement

• Must be insured through the Federal Deposit Insurance Corporation (FDIC)
• Must be located inside the City limits
• Must demonstrate capacity to meet City's requirements as stated in RFP

• Provide depository services for City funds
• Provide banking functions for designated City funds
• Offer automated cash management services and daily balance reporting
• Provide standard deposit and disbursing services
• Implement positive pay services with fraud protection
• Offer funds transfer and wire services
• Provide ACH services for vendor transactions
• Manage collateral requirements for City deposits
• Deliver monthly account analysis and statements
• Assign dedicated account executive for City banking needs