Burnet Municode #RFP 2026-008

City of Burnet Banking Depository and Treasury Management Services RFP

The City of Burnet, Texas, is seeking proposals from qualified banking institutions to serve as its Bank Depository and provide comprehensive banking services for a five-year term. - Government Buyer: - City of Burnet, Finance Department - Eligible Vendors: - Federally or State of Texas chartered banks with physical facilities within Burnet city limits - Products/Services Requested: - Comprehensive banking and depository services for City and Burnet Economic Development Corporation (BEDC) accounts - Treasury management - Cybersecurity protections and fraud prevention controls - Implementation and transition support - Online banking, wire transfers, ACH services - Collateral management (pledged securities at 102% of deposits) - Reporting and business continuity programs in line with FFIEC guidance - Notable Requirements: - Must demonstrate experience serving Texas local governments - Service quality, financial stability, and competitive pricing are key evaluation criteria - Administration of a Concentration Account (avg. $2.7M) and BEDC account (avg. $320K) - Contract governed by Bank Depository Contract and additional agreements (e.g., Custodial, Safekeeping, ACH) - Physical presence required within Burnet city limits - No specific OEMs or vendors are named; opportunity is open to all qualified banking institutions meeting requirements

Description

The City of Burnet is requesting proposals from qualified financial institutions to serve as the Bank Depository for the City and provide banking services, including administration of the Burnet Economic Development Corporation accounts. The services will be governed by a Bank Depository Contract and attachments. The objective is to select a banking institution that offers the highest overall value, including service quality, treasury management, cybersecurity, fraud prevention, financial stability, and competitive pricing. Proposals must demonstrate the ability to meet qualifications and provide the outlined services, with a contract term of five years starting September 1, 2026.

View original listing