Frederick County Public Schools Opengov #318464

FCPS banking, payroll direct deposit, treasury management, and optional merchant services

Frederick County Public Schools is seeking banking proposals covering payroll, public funds, school activity accounts, and optional card processing. - Government buyer: Frederick County Public Schools (FCPS), Purchasing Department. - OEMs and named vendors: No OEMs, banks, or other service vendors are identified in the available materials; this is a banking-services procurement, not a branded-product request. - Requested services: Public-funds depository and disbursement services; payroll direct deposit and ACH; cash management, sweeps, investments, collateral and custody; reconciliation and reporting; Student Activity Funds banking; and optional merchant/card processing. FCPS prefers an integrated primary-bank solution but may award service categories separately. - Scale and volumes: Approximately 8,000 active payroll employees, about 7,900 using direct deposit, and up to 24 semi-monthly pay periods annually. The direct-deposit schedule estimates 14,800 originated ACH PPD credits per month. Student Activity Funds cover approximately 70 school or location accounts. Other direct-deposit schedule volumes range from 1 to 6 monthly transactions or accounts. - Notable requirements: Bidders must be qualified FDIC-insured banks and address Maryland public-funds collateralization, security and disaster recovery, 24/7 emergency payroll support, and support for PeopleSoft HR 9.2 payroll-file transmission. Initial-term prices must be firm; proposed renewal increases are capped at the lesser of the applicable CPI-U measure or 2.5%, subject to FCPS approval. Optional merchant services require PCI-DSS Level 1 compliance, transparent pricing, and next-day or competitively proposed settlement with gross-settlement reporting. - Public banking cost schedule: Includes account maintenance and reporting, deposits and returned items, checks and stop payments, ACH and wire transfers, reconciliation and positive pay, online information services, municipal and next-day sweeps, investment and custody, and a blanket surety bond or posted collateral. The schedule also requests earnings-credit analysis and pricing for mandatory services not otherwise listed. - Student Activity Funds: Proposals should support deposits, disbursements, accessible branch or remote deposit services, and start-up cash withdrawals in requested denominations. Checks drawn on FCPS activity-fund accounts must be cashed without fees, including for payees who do not bank with the selected provider. - Estimated public-banking schedule quantities: Individual line-item quantities are shown as 1 where the schedule assumes one; the available material does not provide the underlying activity estimates for those items. Direct-deposit monthly estimated quantities and public-banking service codes are listed below.

Description

Frederick County Public Schools is soliciting sealed technical and cost proposals from qualified firms to provide banking services. Services include depository, disbursement, payroll direct deposit, investments, and custodial services. FCPS may award the services in whole or in part and seeks productive cash use, lower operating costs, asset safeguards, and flexibility in cash management. Proposals are due November 20, 2026, and must be submitted electronically through OpenGov Procurement.

View original listing