Award
Florida State University ITN 6831-6
Custodial Banking Services for University Investments
Recipient
U.S. Bank
Awarded
July 23, 2026
Identifier
ITN 6831-6
The buyer is Florida State University, a public higher education institution in Florida. The award is for custodial banking services to support the university's investment activities, including safekeeping of assets, reporting, internal controls, cash management, and coordination with external investment managers and internal treasury operations. The awarded vendor is U.S. Bank. The contract involves custodial banking services, with no specific quantities or part numbers provided. The contract is effective starting July 23, 2026, and suppliers are cautioned not to begin work or incur costs before this date. The procurement office is led by Chief Procurement Officer Rosey Murton, located at A1400 University Center, Tallahassee, FL. The award aims to establish a long-term partnership that enhances fiduciary oversight, safeguards assets, supports liquidity needs, and manages financial resources efficiently with competitive and transparent pricing.
Description
The objective of this ITN is to enable FSU to solicit responses from qualified financial institutions to provide comprehensive custody services in support of the investment activities of FSU. The selected provider will deliver secure, efficient, and transparent safekeeping of assets, high-quality reporting, robust internal controls, and responsive client service. The custodian should support a diversified portfolio, ensure accurate valuation, income collection, performance reporting, efficient cash management, timely settlement, and coordination with external investment managers and internal treasury operations. The focus includes strong risk management, compliance with Florida statutory and regulatory requirements, and support for financial reporting obligations. Technology capabilities and integration with treasury and accounting platforms are emphasized. The University intends to establish a long-term partnership that enhances fiduciary oversight, safeguards assets, supports liquidity needs, and manages financial resources efficiently with competitive and transparent pricing.