Agenda Item
Meeting Date: 4/27/2017 - 6:30 PM
Category: Consent Agenda
Type: Action
Subject: Bank Depository Bid - Renewal
District Goals:
Enclosure:
File Attachment:
ISD Depository Extension Form.pdf
Summary: This is on the agenda per the Board Master Calendar and should be reviewed every two (2) years. We are able to renew our current agreement with our current depository, JP Morgan Chase Bank, for another two-year period through 2019. This is our final renewal option. We will be required to perform a new RFP in 2019.
We have been pleased with the services received from Chase Bank and feel a renewal is in the best interest of the District. There are several ancillary costs associated with changing depository banks such as the cost of new checks, bank cards, etc. With our service level and level of satisfaction being high, we recommend exercising our ability to renew for another two-year term.
Budgetary Impact: There is no fiscal impact to the District.
Recommendation: Action Item - Recommend approval to extend our Depository Bank contract for an additional two years as presented.
Approvals:
Recommended By:
Signed By:
Dwayne Jones - Executive Director Business Services
Signed By:
Patricia Linares - Interim Superintendent
Vote Results:

Original Motion
Member Ryan Ray Moved, Member Thedrick Franklin seconded to approve the Original motion 'Action Item - Recommend approval to extend our Depository Bank contract for an additional two years as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0.
The motion Carried 6 - 0
   
June Davis     Yes
Ryan Ray     Yes
Thedrick Franklin     Yes
Mia Hall     Yes
Gary Grassia     Yes
Lyndsae Benton     Yes