Project Information

Bid Title

Request for Proposals for Banking Services

Issuing Agency

Warrensburg city

Location

Missouri

Published Date

May 26, 2026

Closing Date

Jun 23, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Bid Title:	Request for Proposals for Banking Services
Category:	Finance
Status:	Open

Publication Date/Time: 5/26/2026 10:00 AM Closing Date/Time: 6/23/2026 2:00 PM Related Documents: 2026 Banking Services RFP 5426 - Final

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REQUEST FOR PROPOSALS

FOR BANKING SERVICES

MAY 26, 2026

SPECIFICATIONS OF THE CITY OF WARRENSBURG

REQUEST FOR PROPOSAL

I. GENERAL INFORMATION

The City of Warrensburg, Missouri, is soliciting proposals for banking services from

qualified financial institutions that are eligible to fulfill the City’s banking needs. To be

considered in the review process, proposals must be received by June 23, 2026 at 02:00

PM; in the office of the City Clerk at 102 South Holden Street, Warrensburg, Missouri,

64093. Envelopes containing proposals are to be sealed and prominently marked:

“Banking Services Proposal – Do Not Open”. Interested parties must submit one original

document and six copies.

Current financial records are available for examination by interested bidders. Please

contact the finance department by June 2, 2026 for information.

E-mail: finance@warrensburg-mo.com Phone: 660-262-4680

The City receives sales tax revenue by direct deposit around the tenth of each month. The

City also receives property taxes, the bulk of which is received in January. Payroll checks

are direct deposited on a biweekly basis. Accounts payable checks are generally issued on

a weekly basis. The number of accounts payable checks and the amount of the payments

vary.

The banking institution selected as the depositary shall be offered a depositary contract for

a maximum of two years.

II. SELECTION AND CRITERIA FOR EVALUATION

The following instructions shall be utilized:

1. Upon receipt, all proposals will be taken under advisement. The City may

interview bidders to obtain an accurate understanding of each bid. Any informal,

defective or irregular proposal may be rejected. All proposals shall comply with the

stated specifications or noted exceptions. The attached Bank Depository Proposal

must be submitted.

2. All proposals remain valid for sixty days to give City Council and staff

adequate time for review. The City reserves the right to reject any and all proposals

for any reason deemed material and to accept any proposals deemed most

advantageous to the City.

3. The Depository will be selected to receive and disburse all funds of the City,

except funds invested by competitive bid at the discretion of the City. The

Depository must be chartered under existing federal and State of Missouri laws.

Funds deposited must be fully secured as required by law.

III. SCOPE OF SERVICES

The successful bidder shall be required to enter into a written contract with the City

containing provisions for the following items:

1. The Depository shall at all times maintain securities as pledged collateral in

an amount to equal 110% of the amount on deposit with the Depository, less the

amount which is an insured deposit pursuant to the Federal Deposit Insurance Act,

as amended.

2. The Depository shall maintain such collateral with a disinterested banking

institution chartered under existing federal and State of Missouri laws. The

Depository and the disinterested banking institution must agree to execute a

Collateral Pledge Agreement which provides that the disinterested banking

institution would immediately surrender the pledged collateral to the City and the

City shall have the right to convert such collateral into cash and dispense it in the

event the Depository shall fail to pay any City deposit, or part thereof.

3. If at any time pledged securities are not satisfactory to the City for deposits

made as provided by law the City many require additional or substitute securities be

pledged as are satisfactory to it.

4. Pledged securities may from time to time be withdrawn and other securities

of like kind and character may be substituted with the consent of the City prior to the

action. The custodian bank shall confirm in writing the receipt, substitution and

release of securities to and from the custodial account.

5. Securities pledged as collateral shall be evidenced with safekeeping receipts

to be received by the City. The City will release safekeeping receipts by signing

same and forwarding to the banking institution upon request and receipt of

confirmation that the substitute securities have been received by the disinterested

banking institution.

6. The City may maintain four interest-bearing accounts and have the option of

creating additional accounts as required.

7. Idle funds may be invested by competitive bid in investment vehicles outlined

in the Missouri Constitution, Art. IV Section 15, as the City deems advisable.

8. The Bank must provide the following banking services:

Make notation whether you can or cannot comply with each of the following

requirements; Describe the process and any proposed changes, deviations or

any additional features that would be included. Please reference your

responses to the corresponding items in this section.

i. Account Analysis: The cut-off date for statement purposes for these

accounts will be the last banking business day of each month. A monthly

statement as well as a formal account analysis statement shall be provided.

The monthly bank statement will list cancelled checks in numerical order if

the check number is noted on the check by magnetic character numbers.

The City also requires on-line access to account information.

ii. Pledged Collateral: Furnish a report within ten days of the close of each

month a list of collateral pledged and its market value at the time.

iii. Deposit Slips: The Bank under this contract shall provide imprinted deposit

slips for each account.

iv. Coin Bags: The Bank will provide coin bags as requested.

v. Safe Deposit Box: The Bank will furnish one large safe deposit box

vi. Wire Transfers: The bank agrees to handle the City's requests for Wire

transfers of funds in an expeditious manner, regardless of whether the

request is in writing, by telephone, or via terminal access. The City prefers to

utilize an electronic system to initiate wire transfers. The Bank is to notify the

City of the transfer with a credit or debit memorandum. The Bank shall

provide secure wire transfer controls including dual authorization, out-of-band

verification, user entitlements, approval workflows, and wire templates.

vii. ACH Transfers: The Bank will accept and initiate ACH transfers on behalf of

the City.

viii. Direct Deposits: Payroll direct deposit is a service provided to our

employees processed through the automated clearinghouse via the Bank.

The City offers direct payroll deposit and has approximately 200 ACH

transactions per semi-monthly payroll. The data for direct deposit shall be

electronically transmitted to the bank from the City’s computer on a biweekly

basis.

ix. Overdrafts: The bank will pay all checks issued against the account even if

payment creates an overdraft to the account. The Finance Officer or

designee will be notified about any overdrafts within 24 hours of occurrence,

at which time the City agrees to cover the overdraft. The City does not

expect to be charged for overdrafts. The City does understand that the

overdrafts will reduce the average daily balance that will affect the interest

earnings.

x. Stop Payments: The City requires the ability to initiate on-line stop

payments through “Internet access” or a personal computer with a modem.

The City requires immediate acknowledgment that the stop payment was

accepted to the Bank's system. The City does not expect to be charged for

stop payments.

xi. Availability of Funds: The City desires that any deposit that gets to the

bank at or before 3:00 p.m. Central Standard Time will be credited on that

day's business. Any cash or checks drawn on the Bank, which are deposited

into the City's account prior to 3:00 p.m. Central Standard Time, must show

up as collected funds on that same day. If a situation occurs where the bank

fails to give the City same day credit, the City expects to be compensated at

a rate equal to that which the funds would have earned in the account.

xii. Coin Counting Services: The City desires that the Bank accept coin

deposits in bulk and count loose coins and credit them to the City's account

on an occasional basis.

xiii. Check Reconciliation File: The Bank shall provide the City with a CSV file

that lists checks that have cleared for the month. The file must be received

by the 5th business day of each month.

xiv. Returned Checks: The City requires that all items returned for insufficient

funds be presented for payment two (2) times.

xv. Account Detail: The Bank shall provide the City a software package or

online Internet access that will enable the City to obtain daily balances and

perform stop payment and wire activity. This software must allow the City to

contact the Bank via internet access, in order to download data from the

Bank's file on the City's bank account.

xvi. Account Reconciliation: It is preferred that The City have access to

cancelled check images online for storage and retrieval, however, if this is

not available, checks can be written to a CD. Reporting shall be provided,

listing all cleared items. The City will expect to work with the Bank’s data

processing staff to coordinate the production of a check issue file to match to

the cleared items file for an account reconciliation procedure that will be

compatible and allow upload to the City accounting software.

xvii. Interest Rate Earnings: Interest will be earned monthly on the average

available balance. Please include an analysis of how the interest amount

was derived (state yield basis).

Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services

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