1995-44
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AGREEMENT FOR BANKING SERVICES
THIS AGREEMENT, made and entered into this 1 day of l'bvember , 1995 by and
between the City of CIArmont (herein after referred to as "the City"), and Sun Bank,
National Association, a federally chartered banking institution (hereinafter referred to as the
"Bank").
WITNESSETH
WHEREAS, the City is desirous of renewing a contractual agreement with SunBank, National
Association to continue to provide the primary banking services for the City and
WHEREAS, the City previously solicited proposals from qualified banking institutions to
provide the primary banking services for the City; and
WHEREAS, the City reviewed and evaluated all proposals received and recommended the
selection of the Bank to provide said banking services, which recommendation was agreed to
by the City;
NOW THEREFORE, in consideration of the premises and of the mutual covenants and promises
herein contained, the parties hereto agree as follows:
1.
This Agreement shall commence on
O('.tohAr ~ 1 1998.
NoVAmhAr 1
1995 and shall terminate on
2.
The Bank states that it fully understands the scope, nature, quantity and quality of
services to be provided under this Agreement. The Bank agrees to provide banking
services in accordance with the terms and conditions set forth in the following which
are incorporated herein by reference and made a part hereof:
A ttachment A Banking Services Proposal for the City of Clermont, dated
September 1, 1995.
3.
The Bank agrees to credit interest on the overnight Repurchase Agreements to each
of the respective accounts, the first banking day following the initiation of the
investment.
4.
Except as modified herein, SunBank agrees to provide the services specified, with the
employees specified, and at the fees and costs specified in its proposal to the --.Cibt,
said Banking Services Proposal incorporated herein by this reference and made a part
hereof as fully as if set forth herein.
PAGE 1
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5.
The Bank will be compensated monthly with a combination of account balances, If
any, and direct fees; based on the volume of activity.
6.
SunBank agrees to make its best effort to provide any additional banking services not
covered by this Agreement which may be requested by the City, at such cost and
under such terms as may be agreed upon by the parties and such additional services
shall then be subject to all the terms and conditions of this Agreement as fully as if
set forth herein.
7.
The City may terminate this Agreement by giving ~ months advance written
notice to the Bank at the address listed below. The Bank may terminate this
Agreement jointly with the City by giving ---4- months advance written notice
to the City at the address listed below.
Sun Bank, N,A.
Post Office Box 3833
Orlando, Florida 32897
Attention: Corporate Cash Managemant
City of Clermont
Office of City Manager
Post Office Box 120219
Clermont, Florida 34712-0219
8.
In addition, with respect to all claims or controversies raised by third parties, the
City agrees to reimburse, indemnify and hold the Bank harmless for any loss or
liability of any kind arising out of the performance by the Bank of its duties and
obligations under this service, as well as the reasonable cost and expense, including
but not limited to reasonable attorney's fees, or defending against any claim or
liability arising out of or related to this service and not due to the gross negligence
on the part of the Bank or the failure to exercise ordinary care. The City
expressly agrees that in no event will the Bank be liable for consequential damages
which may arise in connection with the services contemplated by the service. The
Bank shall not be responsible for delays or failures in performance caused by events
beyond the Bank's reasonable control.
9.
The Bank shall in no event have any liability in connection with the Zero Balance
Account Service provided to the City hereunder due to reasonable interruption
or failure of communications or data processing facilities or systems, emergency
conditions, or any other cause beyond the control of the Bank. The City agrees
to indemnify and hold the Bank harmless from any and all penalties, charges,
assessments, claims, liabilities, reasonable costs or expense, including reasonable
attorneys' fees, incurred by or assessed against the Bank in connection with the Zero
Balance Account Service, except such amounts as may result from the Bank's gross
negligence or willful misconduct.
10. Except as specifically provided in paragraphs 6, 7, and 8, the Bank shall indemnify
and hold harmless the City and its agents and employees, from and against all
claims, financial losses and expenses, arising out of our resulting from the Bank's
intentional or gross negligent acts, errors, or omissions.
¡;'AGE 2
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11. Representatives of all parties are hereby authorized to meet for the purpose of
drafting any detailed plans and procedures of operation necessary to effectively
implement this Agreement. Said plans and procedures of operation shall be subject
to change upon mutual agreement and consent of the parties.
12. The Agreement and the provisions contained herein shall be construed, controlled,
and interpreted according to the laws of the State of Florida.
14. This agreement constitutes the entire agreement and understanding between the
parties hereto and supersedes all previous discussion, representations, and
understandings made with respect to the matters herein contained. Modifications to
the provisions herein shall be made by the parties in writing.
IN WITNESS WHEREOF, the parties hereto, by and through their duly authorized officials, have
executed this Agreement as of the day and year first above written.
B~:$¿J p~
(Signature)
Rd:Jert A . Poo 1
Name (Print)
Mayor
(TItle)
SUN BANK, NATIONAL ASSOCIATION
By: (l7wv. :J 1r~ ,
(Signature)
Donna F. Ryan
Name (Print)
Vice President
(TItle)
PAGE 3
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ATTACHMENT A
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Banking Services Proposal
for
(Ç~W CQ)~ (Çl~~~CQ)~u
Office of City Manager
Post Office Box 120219
Clermont, Florida 34712-0219
Presented by:
Sun Bank, National Association
200 South Orange Avenue
Orlando, Florida 32801
Q
Representing Sun Bank:
Donna F. Ryan
Vice President
Corporate Cash Management
SunBank Center Tower
Phone: (407) 237-5737
Brian Hofer
Vice President
Business Banking
SunBank/C/ermont Office
Phone: (904) 326-4592
Heather N. Jones
Cash Management Analyst
Corporate Cash Management
SunBank Cents, Towe,
Phone: (407) 2374714
September 1, 1995
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TABLE OF CONTENTS
I.
EXECUTIVE SUMMARY ....................................1
II.
CITY OF CLERMONT'S RELATIONSHIP WITH SUNBANK ...........
3
What are ,the keys to a successful banking relationship?
Sun Bank's Financial Stability.
SunBank's Convenience and Service.
SunBankos Team of Professionals
Sun Bank's Expertise
SunBank's Full Portfolio of Services
III.
CITY OF CLERMONT'S BANKING REQUIREMENTS. . . . . . . . . . . . . . .. 12
. Current Cash Management Services
Cash Flow Diagram - Current System
What does City of Clermont want to accomplish?
IV.
CASH MANAGEMENT RECOMMENDATIONS. . . . . . . . . . . . . . . . . . .. 16
What services does SunBank recommend?
Cash Flow Diagram - Recommended System
Account'Reconcilement Services
Automated Clearing House (ACH)
Automated Balance Reporting Services
SunWires
Stop Payments
Data Capture Lockbox Service
Cash Management Sweep
Controlled Payment Disbursement Service
Electronic Data Interchange (ED )
Customer Service
Why is SunBank the right choice?
V.
PROFORMA ...........................................32
Cost Proforma -- Current Services
Cost Proforma -- Recommended Services
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I. EXECUTIVE SUMMARY
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EXECUTIVE SUMMARY
SunBank, National Association in Florida (hereinafter referred to as "SunBank" or the "Bank") is
pleased to have the opportunity to participate in City of Clermont's (hereinafter referred to as n City
of C/ermontn or the "City") bid process, and it is with great pleasure that we submit our response
to your Request for Proposal for Cash Management Services.
As you know, we recently announced a change in our name to SunTrust. Currently, SunTrust
Banks, Inc. operates in four (4) southeastern states: Florida, Georgia, Tennessee and Alabama,
with combined assets of over $42 billion. SunTrust subsidiaries throughout the four states have
been operating under seven different names. With the evolution of the banking industry on the
horizon, we felt the time was right for unifying under one common name. As SunTrust enters Its
seventh decade, it will continue to grow and serve its communities as Su,nTrust Bank. The decision
to operate under one name is one that we believe will benefit our customers throughout the four-
state region. SunTrust's commitment to take full advantage of interstate banking will result in an
expanded banking region and the eventual expansion of products and services while, at the same
time, never diminishing the importance of customer service or our credo, "Build your community
and you build your bank."
In an effort to provide banking services on a mutually-beneficial basis, Sun Bank has outlined Cash
Management Services pertinent to City of Clermont's current needs. In addition, the Bank has
detailed its capabilities to meet City of Clermont's future banking needs. SunBank values its
relationship with City of Clermont and is committèd to strengthen its partnership with you.
Sun Bank welcomes the opportunity to meet with City of Clermont on an ongoing basis, to
determine service capabilities in greater detail and/or clarify any unclear areas. In addition, we will
gladly conduct tours of our facilities, make introductions to the appropriate Bank personnel, and
provide any additional information as needed to assist you in the evaluation process and on a
continuing Sun Bank/City of Clermont partnership basis.
Banking Services Proposal for City of Clermont
September " 1995
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II. CITY OF CLERMONT RELATIONSHIP WITH SUNBANK
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What are the keys to a successful banking relationship"
Cash Management is a collaborative process between a bank an its client. Sun Bank offers a unique
combination of strengths that are key to a strategic banking relationship, including:
.
.
Financial stability
Convenience and service
A team of þanking professionals
Expertise
A full portfolio of banking services
.
.
.
SunBank has the answers to the critical questions on what is important in a banking relationship.
What makes a strategic banking relationship?
Financial
Stability
Convenience
(0 Service
Full Portfolio
of Services
Expertise
. Asset Size
. Capitalization
. Market Ratings
. Assigned officer
. Cash management team
. Responsive service
. Accessible locations
. Convenience
. Quality control
. Community leadersh~p
. Cash Management
. Traditional banking
services
. Trust/Investment
services
. Mutual Funds
. Discount Brokerage
. Corporate Finance
. Investment Banking
. Mortgage banking
. Corporate Lend~ng
. Merchant Bankcard
service
. Proven expertise
. Market
specialization
. Consultat~ve
sales
. Added value
Banking Services Proposal for City of Clermont
September " 1995
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SunBank's Financial Stability
SunBank offers its clients the security of one of the most highly rated financial institutions in the
region. SunBanks, Inc., the Florida subsidiary of SunTrust Banks, Inc., is one of the largest regional
banking organizations in the Southeast and is ranked among the world's top banks in assets and
capitalization. Sun Bank, N.A. is the lead subsidiary bank of Sun Banks, Inc.
Assets
Size
Capitalization
Ratings
Non-performing
loans
.
SunTrust Banks Inc. has combined assets of $42.7 billion, making
it one of the largest banking organizations in the Southeast.
SunBanks, Inc., the Florida subsidiary of SunTrust, has
approximately $20.4 billion in assets.
.
.
SunBanks, Inc. has 15 subsidiary banks, with 379 banking offices
in 37 Florida counties.
SunBank, N.A. maintains an offshore branch in the Cayman Islands,
British West Indies, for international banking purposes.
Trust Company of Georgia joined SunBanks, Inc. in July, 1985, to
form SunTrust Banks, Inc., the first southeastern regional, interstate
banking corporation.
Third National Bank of Tennessee joined SunTrust Banks, Inc. in
1986, to further strengthen the partnership.
.
.
.
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Total 1994 shareholder's equity of $3.45 billion. (Capital Ratios far
exceed all regulatory requirements, and are within the FDIC
Improvement Act's range of "well capitalized" institutions.)
1994 Tier 1 Capital of 7.95%.
1993 risk adjusted total capital ratio of 10.05%, 50% higher than
regulatory guidelines.
1994 Tier 1 Leverage of 6.68%.
Total 1 994 net income of $ 5 22. 7 million.
1994 return on equity was 17.66 % - above average for the
industry.
The 1994 return on average assets was 1.32%.
.
.
.
.
.
.
.
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Rated A 1 by Moodys.
Rated A 1 + by Standard and Poors.
.
1994 Non-performing loans only .66% of total -- better than the
industry average.
Banking Services Proposal for City of Clermont
September 1, 1995
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SunBank's Convenience and Service
Cash Management
Team Support
Responsive Service
Accessible locations
Convenience
Quality control
Community leadership
.
A team specially designated to serving City of Clermont They are familiar
with City of Clennont'. requirements, account structure, and serVices, and
are "on call" to answer your questions or help with problems.
.
Our team approach ensures not only knowledge of your needs and
requirements, but continuity and cross-training. If one person IS
unevallable, another member of the team cen Immediately take over
research of a problem, answer a question, and/or follow up a request to full
closure.
.
SunBanks, Inc. has almost 400 banking offices in 37 Florida countias.
SunBank's Florida offices serve approximately 92 percent of the state's
population.
.
Benking services end reports with e renge of commUnicetlon options
including Electronic Deta Interchenge (ED ).
.
Continuous monitoring and proactive problem-solving. The team approech
has allowed for møre consistent regulation of City of CI.rmont'. accounts
and service..
.
For over 60 year. SunBenk has funded the development of local businesses,
supported local charities and municipal governments, and encouraged and
supported our employees to take an active role in their commUnities.
Banking Services Proposal for City of Clermont
September 1, 1995
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Sun Bank's Team of Professionals
SunBank has designated a team of experienced professionals to better serve you. We have
provided a list of team members and any additional personnel who may serve as contacts for City
of Clermont. Brief biographical sketches of all the members of the SunBank team are included as
well.
Relationship Management
Brian Hofer
Vice President
Business Banking
Phone: (904) 326-4592
Responsibilities: Relationship management within BuslOess Banking at SunBank
Clermont. He serves as City of ClaImant's designated Account Offlcar and
coordinates other banking resources as well as the maintenance and
administration of City of Clølmont's banking activities within SunBank.
Business Experience: Jomad SunBank in 1990. Has lived and worked In
Clermont for the past five years. Brian is a board member on the Clermont
Chamber of Commerce, partIcipates as an advisory member for the Lake County
Va-Tech D.A.W.N. Program (smgle parents and displaced homemakers!. IS a
member of the S~uth Lake Kiwanis Club, an advisory member of the Clermont
Elementary School Advisory Committee, e volunteer instructor for Junior
Achievement Project Business and the Economics of Staying In School, and
chairperson for the Chamber's Partner 10 Education Committee
Education: 1984 - BBA from Statson University in Deland, Florida.
Corporate Cash Management
Donna F. Ryan
Vice President
Corporate Cash Management
Phone: (407) 237-5737
Responsibilities: Sales and marketing of Cash Management services to
Institutional and Governmental bodies and corporate customers withm the state
of Florida.
Business experience: More than eight years Cash Management experience
mcluding two years 10 Cash Managament,sales at a major Boston bank and five
years as a Corporate Cash Manager for a large New England-based
manufacturing company.
Education: B.S. in English and Art; B.S. In Education, louisiana State University
in Baton Rouge.
Robart W. Pledger
Senior Vice President
Business Services
Phone: (4071237-4015
Responsibilities: Manages the Bank's Business Services depertment, which is
comprised of Cash Manegement, marketing, consultmg, corporate customer
service and product development.
Business experience: More than 22 years experience In the banking industry,
including 13 yeers with SunBank.
Education: Bachelor of Industrial Engineering, Georgia Institute of Technology
(1967); Graduete work 81: the UniversIty of Tennessee and the Stonier Graduate
School of Banking.
Banking Services Proposal for City of Clermont
September 1, 1995
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Letitie B. Gevin
Fir.t Vice Pre.id.nt/Sel..
Meneger
Corporete Ca.h Menegement
Phone: (4071 2374977
Heether N. Jones
Cash Management Anelyst
Corporete Cash Menegement
Phone: (4071 2374714
Wende E. Bowmen
Admini.tretiv8 As.i.tent
Corporet. Ca.h Manegement
Phone: (4071237-2451
Corporate Customer Service
Jo Ann Feeney
Corporate Customer Service
Repre.entetive
Corporate Cu,tomer Service
Phone: (407) 237-5207
Use W. Jodlow.ki
Corporate Cu,tomer Service
Repre.entative
Corporate Cu,tomer Service
Phone: (40712374213
Rapon8Íbilitie8: Managing the Corporete Ca.h Menagement Sale. and Support
department of SunBar.k, N.A.
Bu8Íneaa experien08: More than 18 year, of banking experience In the areas of
operations, merketing and eutomated customer services, including 13 years of
direct Cash Management responsibility. Prior to JOining SunBank In 1981,
MI. GIlVin wee fesponllble for the development of e Cesh Management program
for a major regional bank in Virginia.
Education: Univerlity of Peril; Old Dominion Univerllty,
Re,pon.ibilities: Provide. analytical support to Cash Management Sales staff,
prepares proposals and bids, long-term forecasts, spreadsheets, flow charts,
cost proformas and anists the Cash Management Sales Officer in consulting
services to corporate customers.
Bu.ine.. experience: Joined SunBank in 1992 and has three years banking
experience including administrative and customer service support In addition to
five years administrative experience.
Education: Attended Hutchinson Community College with a business related
curriculum. Currently enrolled at the Valencia Community College pursUIng
Associates in Science Degree.
Reapon8Íbilitle8: Provid.. edministrative support to the Cash Management team
hendling Institutional and Governmentel and Florida-based corporate customers.
Bu8Íneaa experien08: More than 6 years benking experience including four years
with SunBank's telephone customer service.
Education: Currently pursuing Associate Degree, and American Institute of
Banking (AIBI cour,e,.
Re.pon.ibllitie.: Provide. customer service to Sun Bank's Corporete Cash
Management clients throughout Florida. She serve, a. a backup to Lisa
Jodlowski.
Bu8Ín888 experÏen08: More than 18 years banking experience including customer
service, ACH processing, product development and item proce88lng
Education: Six years, Institute of Financial Education, Chicago, Illinois
Responsibilities: Provide, cu,tomer service to SunBank's Corporate Cash
Management clientl throughout Florida. She serve as primary customer service
contact for City of Clermont.
Bu8Íneaa axperien08: Thirteen years banking experience with Sun Bank, including
five ye.. in Corporate Customer Service and eight years In the SunTrust Service
Corporation Ca,h Vault.
EduClltion: Bachelor of Science, Cumberland College, Williamsburg, Kentucky.
Banking Services Proposal for City of Clermont
September " 1995
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SunBank's Full Portfolio of Services
SunBank's Expertise
SunBank uses a consultative approach to help you select and maintain the best mix of banking
services. This approach succeeds because of the quality of our specialists, our focus on the
customer's business needs, and the range of services from which to choose.
Expenise in corpórate
account management
Market specialization
Consultative sales
Adding value
.
Training ee Highly-trainad professionals in corporata banking and Cash
Management. We attract the best because of our size and strength, our
comprehensive training program, end opportunities for growth.
Experience -. SunBank's Business Services staff has many years of
banking experience that we put to work for you.
Product development -- We are committed to developing state-of-the-ert
products and services. SunTrust has an entIre department devoted to
Cash Management product development, including enhancement of
current products and design of new services. In addition, there IS a staff
of experts assigned to new product development for the Bank's corporate
lending group.
Client-centered thinking -- We do not develop banking services in a
vacuum environment. Our Product Development group hold focus group
sessions to get feedback from clients before wa introduca any new
sarvica.
.
.
.
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Unique need. of Florida -- Sun Bank is one of the few full-service banks in
Florida wIth local executive management, local customer support groups,
and local loan decIsions.
Industry segment. ee We have organizational structures and experts
devoted to the industries that have made Florida the vibrant economic
force it is today: Haalthcare, Governmental Bodies, Non-Profit
Organizations, Utilities, Hospitality, Agribusiness, Manufacturing,
Retailing, Construction, Entertainment, Transportation, Distribution, and
Communications.
.
.
SunBank considers the sales proce.. to ba a collaborative effort. City of
CI.,mont'e Relation.hip Officer, Bill Hofer and Cash Managament Officer,
Donna Ryan, will listen to your idees, problems, end goe's, and then
move forward to accomplish what is nece88ary. They have acce88 to
SunBank spacialists in the necessary areas such as Trust, Investments,
and/or International Banking and work. together to build the optimal
combination of .ervice. for your .peciflc needs.
.
SunBank's unique blend of stringent quality control, excellent customer
service, expert Cash Management, and consultative specialists give you
edded value for you banking dollar. This, coupled with our financIal
strength and stability, makes SunBank a solid choice for the most cost-
effective overall .olution to your corporate banking needs.
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Investment Banking
.
SunBank's Investment Banking Division, along with our affiliate,
SunTrust Securities, Inc., can respond to all your corporate Investment
needs, such es traditional SeCUrities, a corporate investment menagement
account, and business retirement plan opportunities.
.
SunTrust Public Finance provides investment banking and flnencial
advisory 8erVlce8 to munJclpel governments and education, heelth and
housing authoritle8 throughout Florida. Through SunTrust effllietes, we
can offer access to the leedlng underwriter end trader of general
obligation bonds In the Southeast.
Merchant Bankcard
Services
.
We can supply e variety of processing options to electronically authorize
end record MasterCard end Vise trensectlon8 for your busine8s and credit
the deposits directly to City of Cle,mont'" SunBenk checking account.
Banking Services Proposal for City of Clermont
September 1, 1995
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III. CITY OF CLERMONT BANKING REQUIREMENTS
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Current Cash Management Services
City of Clermont's current Cash Management system consists of:
.
A master concentration account and two subsidiary accounts linked by the Zero Balance
Account (ZBA) system.
.
The master pccount receives deposits in the form of ACH credits, wire transfers, cash and
checks.
.
Payroll and Accounts Payable accounts utilize the check sort service.
.
Wire Transfers are initiated manually.
The current Cash Management system is illustrated in the Cash Flow Diagram presented on the
following page.
Banking Services Proposal for City of Clermont
September " 1995
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Cash Flow Diagram - Current System
A"CH
~
Pooled Cash Account
(Master lBA)
WIRE 4
TRANSFERS
/
~
Fund. Tr nsferred Via
Zero ealance Account System
Payroll Account
(Subsidiary lBA)
~ ~-:~
~ -.
CHECK SORT
Banking Services Proposal for City of Clermont
September 1, 1995
DEPOSITS
~
Accounts Payable
Account
(Subsidiary lBA)
f-~~
-: .
CHECK SORT
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What does City of Clermont want to accomplish?
The City of Clermont is accepting proposals from lùcal qualified public depositories to enter into
a Master Banking Services Agreement. We are interested in entering into a total servIces
agreement to satisfy our operational needs and short-term investment goals.
If you are interested, please respond by September " 1995 with full details concerning services
to be provided, interest rates and services fees.
The following is a description of our cash management program and details:
.
Schedule of Accounts
.
.
Accounts Payable Checking Account
Payroll Checking Account
Pooled Cash Account
.
.
Description of Cash Management Program
Ali cash shall be deposited to the Pooled Cash Account. Transfers from the Pooled Cash
Account to the Accounts Payable and Payroll Checking Accounts shall be made automatically
as checks are presented for payment. Funds remaining in the Pooled Cash Account will be
swept into the Overnight Repurchase Agreement to provide maximum utilization of idle
balances. The Repurchase Agreement shall be collateralized by securities issued by the United
States Government or its agencies. Daily confirmation notices indicating the description,
interest rate and amount of securities collateralizing the Repurchase Agreements shall be
provided to the City.
.
Terms of Agreement
The Master Agreement shall be entered into between the selected bank and the City for a
period of three (3) years, effective November 1, 1995. However, the Agreement may be
canceled by either" party if a four (4) months notice of such cancellation is tendered.
.
Interest
The interest rate schedule applicable to the Repurchase Agreement shall be identified as to
basis, method of rate calculation and amount of invested funds.
.
Service Fees
A. complete sch~dule of service fees shall be presented along with a equivalent minimum
balance comparison. The method of calculation of minimum balances shall be identified.
Banking Services Proposal for City of Clermont
September 1, 1995
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IV. CASH MANAGEMENT RECOMMENDATIONS
Banking Services Proposal for City of Clermont
September " 1995
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What Services does Sun Bank Recommend?
SunBank is pleased to have the opportunity to review City of Clermont's Cash Management
services and provide recommendations for an improved system. The products and services
detailed herein are designed to augment the control and efficiency of City of Clermont's cash
resources and provide a secure and automated banking environment. In addition, they are designed
to reduce in-house processing requirements, trim the time required to process payables and
receivables, maxilT)ize the funds available for investment, and provide current cash management
Information directly to City of Clermont's desktop via a PC.
The following is a description of the City of Clermont's cash management program and details:
.
Schedule of Accounts
. Accounts Payable Checking Account
. Payroll Checking Account
. Pooled Cash Account
SunBank recommends that the City of Clermont maintain the current account structure which
consists of the following accounts.
.
.
Pooled Cash Account - Master Account
Payroll Checking Account - Subsidiary Account
Accounts Payable Checking Account - Subsidiary Account
.
.
Description of Cash Management Program
All cash shall be deposited to the Pooled Cash Account. Transfers from the Pooled Cash
Account to the Accounts Payable and Payroll Checking Accounts shall be made automatically
as checks are presented for payment. Funds remaining in the Pooled Cash Account will be
swept into the Overnight Repurchase Agreement to provide maximum utilization of idle
balances. The Repurchase Agreement shall be collateralized by securities issued by the United
States Government or its agencies. Daily confirmation notices indicating the description,
interest rate and amount of securities collateralizing the Repurchase Agreements shall be
provided to the City.
SunBank recommends that the City maintain the existing account structure which allows funds
to be transferred via the Zero Balance Account System to each subsidiary account for
disbursement. Utilization of this automated account structure, enables the City's excess funds
to be swept at the end of each day into an overnight Repurchase Agreement via Cash
Management Sweep Service. Funds are invested in an overnight Repurchase Agreement
collateralized a minimum of 100 percent with U.S. Government securities and agencies. Daily
confirmation and a monthly statement is provided detailing each day's investment, interest rate,
and interest earned on the account.
Banking Services Proposal for City of Clermont
September 7, 7995
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.
Terms of Agreement
The Master Agreement shall be entered into between the selected bank and the City for a
period of three (3) years, effective November 1, 1995. However, the Agreement may be
canceled by either party if a four (4) months notice of such cancellation is tendered.
Sun Bank understands that the Master Bank Services Agreement shall be entered into between
the selected Bank and the City for a period of three (3) years, effective November 1, 1995.
However, the Agreement may be canceled by either party if a four (4) month notice of such
cancellation is tendered.
.
Interest
The interest rate schedule applicable to the Repurchase Agreement shall be identified as to
basis, method of rate calculation and amount of invested funds.
SunBank will invest all available funds for the City in a Repurchase Agreement. The interest
rate paid on the Repurchase Agreements is equal to the daily opening Federal Funds Rate, less
35 basis points.
( Opening Federal Fund, Rate (deCImal funn) mlnul .0035 ) X Dally Inveltment Amount
360
.
Service Fees
A complete schedule of service fees shall be presented along with a equivalent minimum
balance comparison. The method of calculation of minimum balances shall be identified.
SunBank will provide the City on a monthly basis with a comprehensive Account Analysis
Statement providing a clear picture of all account activity which details the services rendered.
Payment for charges reflected on the Account Analysis Statements may be made to the Bank
via compensating balances, direct fees, or a combination of both. The compensating balance
is based on the averaged collected balance maintained in the City's accounts over the cycle
period. The Bank's standard method of calculating the required compensating balance is based
on the Earnings Credit Rate and a Reserve Requirement of ten percent (10%).
Recommendations include:
.
Maximize investment returns on your excess cash balances automatically "sweeping" the
cash at the end of each day into an overnight Repurchase Agreement via Cash Management
Sweep Service.
.
Automate your current wire transfer system by initiating wires via in-house PC.
.
Utilizing a direct data transmission for ACH items origination/initiation and receipt of
reconcilement reports.
Banking Services Proposal for City of Clermont
September 1, 1995
18
8
8
.
Streamline your account tracking process by utilizing SunBank's Account Reconcilement
Service.
.
Through the use of SunBank's Data Capture lockbox Service, the Bank directly collects,
processes, and deposits customer remittances reducing mail, processing and checks
clearing.
New service options:
.
Electronic Data Interchange (EOn
.
Employ Controlled Payment Disbursement Service to increase control of payables and deter
check fraud.
The new Cash Management system is illustrated in the Cash Flow Diagram presented on the
following page.
Banking Services Proposal for City of Clermont
September 1, 1995
19
8
8
. '
Cash Flow Diagram - Recommended System
DEPOSITS
.I
"I.~. "" .11,.
...W"..
.... ..,--
ACH
~ Pooled Cash Account
- - - -
(Master ZBA)
~ INVESTMENTS
LOCKBOX DEPOSITS
~ ~8
Funds Transferred Via ~
Zero Balance Account System
I
ACH
~ Payroll Account
I (Subsidiary ZBA)
Accounts Payable
Account
(Su bsldlary ZBA)
..
Acco unt A.eo neillatlon
PI.n
~~~
- -"I -
~ '~.M"'.'.. ~~~
PI.n "'I.
CHECK SORT
CHECK SORT
Banking Services Proposal for City of Clermont
September " 1995
20
8
8
Account Reconcilement Services
The Account Reconciliation Plan (ARP) is a computerized system designed to reconcile checking
account transactions. The system offers a wide variety of reconcilement services, ranging from
simple serial sorting of checks to full reconcilement. Hard copy reconcilement reports are provided,
along with monthly bank statement(s) and returned checks and/or microfilm. Reconcilement output
is also available via direct data transmission or on magnetic tape.
Full Reconcilement
Partial Reconcilement
Fine Sort (Check Sort)
City of Clermont supplies the Bank with check issue data in
machine-readable form (direct data transmission or magnetic
tape). Upon receipt of the file, the Bank matches the issued
items to the paid items and produces reports of matched,
outstanding, and exception items. Features:
.
.
.
Accelerated reconcilement process and reduction of internel costs
Provides a permanent, detailed record and increased eudit control
Reports are produced within ten business deys of the receipt of the Issue
file by the Bank
May be produced dally (al with Control Pay), weekly, or monthly
Information il provided in lerlal number, dollar amount, paid date, or
issue date order
.
.
Provides a complete check listing, of paid items to complete
the reconcilement process. Features:
.
Provides serial number, dollar amount, paid date, and total amount paid
during the reconcilement period
Output supplied in sarlal number, amount paid, date paid, or issue data
order
Output format options include hard copy report, magnetic tape, or direct
data transmislion
Stop payment item. are identified al thole not presented and those
prelented and returned, thereby furnllhlng an addltlonel method of
tracking stop paymentl
.
.
.
This service sorts checks are in serial number order to simplify
review of specific checks. Features:
.
.
Can supplement Partial or Full Reconcilement servlcel
Sorial number ¡I imprinted on back of paid check to facilitate research
Banking Services Proposal for City of Clermont
September 1, 1995
21
8
8
Check Microfilming
This service offers a quick and easy retrieval method for
companies who issue large volumes of checks each month. It
eliminates the need to sort and store checks in numerical
order. Features:
.
Checks are filmed and assigned a reference number corresponding to a
number evidenced on the reconciliation report.
Items may be retrieved by entering the reference number In a 16mm
programmable Viewer, which eutomatically locates the Item.
Front and back of the check is filmed to provide all the Information found
on the actual check.
.
.
Check Storage
Eliminates the hassles of storing canceled checks. Features:
.
Actual checks are stored for 90 days. After 90 days, checks are
microfilmed and destroyed.
MIcrofilm is ,retained at the Bank for a period of seven year.
.
Reconcilement with
with Controlled
Payment Disbursement
Service
Daily reconcilement of matched, outstanding and exception
items included in service.
Banking Services Proposal for City of Clermont
September 1, 1995
22
8
8
Automated Clearing House (ACH)
A variety of services to electronically transfer funds using the National Automated Clear House
Association (NACHA) network for credit and debit transactions. Applications include Direct Deposit
of Payroll, Pre-Authorized Debits (for donations or payments), Vendor Payments, Deposit
Concentration, and Federal Tax Payments.
What advantages does
Sun Bank's service
offer?
Applications
e
e
Convenience and low cost
Direct transmission of ACH file to simplify delivery to SunBank
Electronic transfer increases security and confidentiality of information
and eliminates wire, postal, and peper transaction costs.
ACH simplifies Direct Deposit of Payroll to employee accounts and Pre-
Authorized Payments from approved accounts.
Voice Access Confirmation ensuras incraased sacurlty for City of.
CI.rmont'. ACH file.
Electronic Payment Authorization protects your ACH transfers against
fraud or errors by restricting debits to spaclfic amounts or accounts.
e
e
e
e
Sun Bank offers a full spectrum of services for initiating,
processing and protecting ACH transfers. Applications
include:
e
Direct Debit. - Direct Dabits are pre-authorized electronic peyments
transferred directly to your account from a payer's account. City of
CI.rmont provides a file of the authorized debits and Sun8ank will
process them through the ACH.
Direct Depo.it of Payroll - Employees paychecks can be deposited
directly to their account at any participating financial institution. A
paycheck advice i. stili provided to tha employee.
Depo.lt Conoentration -- This service provides deposit information by
location and consolldatas funds from multiple deposit accountl via ACH
transfer.
Vendor Peymentll -- Payments may be made electronically to vendors
quickly and easily with ACH credit items.
e
e
e
Banking Services Proposal for City of Clermont
September 1, 1995
23
8
. Automated Balance Reporting
8
Provides account information in summary or detail by approximately 8:30 a.m. each day for
previous day's information or 10:30 a.m. for current day information. All reports may be
customized to specific Company requirements.
Previous Day Reports:
Intra-Day Reports
.
Summery Balance Report (MRV) -- Gives a capsule view of the prevIous
day's account activity. TYPical Information may include ledger, opening
availabla, or collected balances, 1 - and 2-day float, and total debits and
credits.
.
Statement Report (STMTI -- Provides summary and detail information on
Company accounts. Items are distinguished and identified by standard
BAI transaction code.
.
Stetement-to-Dete Report (STaD) -- Allows City of CI.,mont to view
actual transaction data on a roiling forty-five business day basIs, through
the previous business day. InformatIon Includas data postad, cradlt or
debit designation, deposit ticket serial numbers (if encoded within the
check MICA-linel, check numbers, and transaction datall,
.
Tepe Report (TAP) - Provides the specified summary and detail
information to City of CI.,mont'ø PC in machine-readable format tBAI
Version 21. This Information may be processed, interfaced into a
spreadsheet, or uploaded to City of CI.,mont'ø mainframe.
.
Cuatomer Activity Aeport (CAR) -- Provides previous-day ACH
transaction data, including deletions, reversals, returns, chargebacks and
notifications of chañge.
.
Statement Today Report (STMT-Today) - Provides information on
currant-day controlled disbursement clearing totals and/or detail. This
information, combined with that obtained through the MAV or STMT
report furnishas City of CI.""ont with its dally cash position.
.
ACH Memo Poet Activity -- Provides activity received in the Bank's
morning ACH Fed file (5:30 a.m. window I. Any activity received In the
late (or afternoon) Fad is evidenced the following business morning
through next day balance reporting.
Banking Services Proposal for City of Clermont
September 1, 1995
24
8
8
PC Wire Transfers (SunWire)
With SunWire, City of Clermont's computer becomes a direct link into the FedWire System, without
time-consuming, third-party intervention.
Features
.
.
Permits same-day availability of collected funds and a clean audit trail.
Computer-initiated wires offer more cost-effective money movement and
immediate confirmation.
The Fedwire and SWIFT systems offer built-in security.
Batch Proceuing available.
Wire transfer requests accepted 9 a.m. to 3:30 p.m.. Monday through
Friday.
.
.
.
On-line Check Inquiry and Stop Payments
Provides an efficient means of inquiring, placing, and confirming stop payment instructions through
a personal computer.
Features
.
Authorized personnel may place stop payments through the terminal as
late as 4:30 p,m.
Paid check data for the preceding 45 business days may be reviewed by
City of Clermont and, upon placing a stop payment instruction, an
immediate on-line confirmation is available; thereby, eliminating the
necessity of supplying wrinen confirmations.
All stop payment instructions remain In effect for six months.
The confirmation reports provide a trace number of each stop payment
to facilitate research.
In addition, reports detailing the status of effective instructions can be
generated enabling City of Clermont to review stop payment requests
and re-enter extensions into the system.
.
.
.
.
Banking Services Proposal for City of Clermont
September 1, 1995
25
8
8
Orlando Data Capture Lockbox
The Inform Lockbox Service collects, processes, ?nd deposits corporate-to-corporate payments,
reducing mail, processing, and check clearing times. It also facilitates the process of applYing
payments to an account receivables system.
Benefits
How does SunBank's
Inform Lockbox Service
work?
Banking Services Proposal for City of Clermont
September " 1995
.
.
.
Use of unique nine-digit zip codes reduces mell float time.
Frequent mall pickups speed processing.
Multiple shifts, six days a week, matching staffing level8 to peak
mail receipt times ensures 8ame-day proce8slng.
Same-day dep08its let8 money start working for you sooner.
Saturday proceuing decreases weekend check clearing float. Funds
are assigned availability as though deposited on Friday.
Quality control programs ensure a low processing error rate.
SunBank's large market share In Florida means you receive Improved
availability on many checks.
SunBank's professionals handle all the processing, eliminating your
staffing needs.
Daily reports give you late8t account information for improved
management control.
Separating receivables processing from invoice creation provides
audit control through separation of duties.
Lets you use lockbox Information to completely update an accounts
receivable systems.
Provides information retrieval from non-scannable remittance
documents or checks.
Lets you specify the Information required.
Allows you to custom-design the reports and data transmission files
to meet your specific needs.
Enables you to set up references to internal company general ledger
accounts.
.
.
.
.
.
.
.
.
.
.
.
.
.
SunBank's trained personnel handle the data entry from your
remittance documents or checks, according to your data
requirements.
Data entry screens, reports, and data transmission files can ell be
customer designed to you specific needs.
You can even set up features like group remitters or references to
internal company general ledger accounts.
The data entered will be transmitted to update the company
accounts receivables system,
You receIve two sets of daily reports:
. Master set lists ell Items proce88ed for deposit.
. Exception set lists items that did not meet your processing
specifications to segregate Items that require research.
Six types of reports - ell customized -- ere available as a croll
reference to the file tran8misslon:
. Individual payments by remitter.
. Payments by group code.
. Unidentified cash receipts.
. Summary data of all payments.
. Individual payments exceptions,
. Exceptions by group code.
.
.
.
.
.
26
8
8
Cash Management Sweep
A service to maximize investment returns on excess cash balances by automatically "sweeping"
any excess cash available at the end of the day into an overnight Repurchase Agreement.
Collateral is assigned from an available pool of government securities.
Benefits of the Cash
Management Sweep
Features of the Cash
Management Sweep
.
Daily Uquidity -. The Bank automatically moves funds into e Repurchase
Agreement Investment and Interest and principle is credited back to the
account on the following business day.
Cash Flow Flexibility -. No maximum Investment balance is required
enebling investments throughout the month regardless of cash flow
fluctuations.
Safety -. Funds ere invested in an overnight Repurchase Agreement
colleteralized a minimum of 100 percent with U.S. Government
securities and agencies.
Attractive Rate. -. SunBank seeks bids from numerous primary
Repurchase Agraement dealers daily to obtain the most competitive rate.
Interest is generated dally based on tho return paid on the Repurchase
Agreement less the market value fee.
Flexibility -. .The Cesh Management Sweep is incorporated into City of
Clermont's total cash management banking relationship,
Confirmation - Repurchase Agreements are confirmed dally and a
monthly statement is provided detailing each day's investment, interest
rate, and interest earned on the account.
.
.
.
.
.
.
End-of-Day Procèssing - SunBank proce..es all debit and credit
transactions in tho account to determine City of CI.,mont'. ending
collected balance available for Investment.
Automatio Processing.. No Company intervention IS necessary.
Optional Targ.t Balance - May be maintained In the account to offset
banking service fees. This target balance IS totally at City of C/e,mont'.
control and may be adjusted at any time to reflect changes In the level of
banking services provided and the earnings credit on analysIs.
Repurchas. Agreement Inve.nnent -- Excess funds are invested in
$ 1,000 increments. There is a minimum investment amount of
$100,000. Interest is calculatad using a 360-day basis and is credited
back to the account on the following business day.
.
.
.
Banking Services Proposal for City of Clermont
September 1, 1995
27
8
8
Controlled Payment Disbursement Service
Due to the growing instances of check fraud and the desire of Sun Bank customers to obtain more
timely and accurate bank information, the Bank re-engineered the traditional payment process to
create the Controlled Payment Disbursement service,
Features
Benefits
.
Matching of items presented to issue file is done prior to checks posting
to account,
The serial number and dollar amount of presented Items must exactly
match the items in the issue file.
Unmatched item information is transmitted back to City of Clermont
each day for 'resolution,
City of Clermont notifies SunBank of any corrections or rejections,
System utilizes a modulus, or "mod" check digit in the check's senal
number to ensure accurate capture of the check sequence number.
Companion PC program is provided with the system to Input stop
payments, file changes, and checks not Included on the issue file.
.
.
.
.
.
.
Eliminates the need for additional reconcilement services because the
account IS receiving e full reconcilement each day.
The Bank maintaIns absolute control of the check &enal number and only
posts fully reconciled Items to City of Clermont'. account.
Reduced processing costs.
Stop payments presented on the isaue file are permanent end at no cost.
.
.
.
Banking Services Proposal for City of Clermont
September 1, 1995
28
8
8
Electronic Data Interchange (EDt)
Sun Bank offers a full array of financial EDI services, including payment origination and receipt and
financial reporting services. Through its team of dedicated EDI and communication specialists,
Sun Bank supports these technical applications with experience, expertise and a proven track record
of providing high quality customer oriented services.
Payment Origination
The Bank's EDI system accepts customer files for payment
origination. Files are directed to the Automated Clearing
House (ACH), wire transfer system, or check printing system
based on:
.
.
Payment method instructions contained In the customer Input file.
The EDI capebilities of the bank designated for the receIpt of the
payment.
Pre-determined instructions for Individual trading partners which are
maintained in the SunBank EDI database.
.
Payment Receipt
Payment summary data is available through the Bank's
balance reporting system by 8:30 a.m. on the day of
settlement. Payment detail is also available on a same-day
basis through the Elèctronic Window or a printed report faxed
or mailed to City of Clermont.
.
SunBank accepts ASC X12 820, ASC X12 835, NACHA or proprietary
formats.
SunBank offers full disbursement outsourcing to its corporate
customer,.
EDI is an economically altarnative to internal processing and offers
enhanced sec:urity end control.
Report file is delivered through the Bank', Electronic Window.
Printed reports are delivered via U.S. Mail or facsimile.
.
Features and Benefits
.
.
.
Banking Services Proposal for City of Clermont
September 1, 1995
29
8
8
Customer Service
SunBank's commitment to providing the highest level of customer service is why we developed the
"team" approach to servicing our customers. City of Clermont's banking team, comprised of a
relationship officer, his support staff, a Cash Management officer, and her group of specialists, are
all experienced in dealing with customers such as yourself. Cross-training within the team assures
City of Clermont o.f continuity and prompt response to your questions or concerns.
In addition, we are committed to being proactive in our relationship with City of Clermont.
Procedures have been implemented to assure you that your Account Analysis statements are
accurate and your concerns or questions are resolved quickly. Your accounts and services are
monitored on a regular basis and we are always open to any suggestions from City of Clermont
that will help us to serve you better.
Banking Services Proposal for City of Clermont
September 1, 1995
30
8
8
Why is SunBank the right choice?
.
SunBank, N.A. is locally-based, financially stable, and has convenient locations throughout
the state.
.
Proven community leadership.
.
A specialized "team" of individuals assigned to City of C/Brmont with experience dealing
with the special needs of utility organizations.
.
A designated customer service representative assigned to deal with City of C/Brmont's day-
to-day needs.
.
A proactive approach to our relationship with City of C/Brmont.
.
Continuous development of state-of-the-art products and services to better serve our
customers.
.
Competitive pricing.
.
Full-service banking and a complete portfolio of banking services.
Banking Services Proposal for City of Clermont
September 1, 1995
31
. .
8
8
V. COST PROFORMAS
8
, .
COST PROFORMA - CURRENT PRICING
8
I
¡I
CITY OF CLERMONT 8
BANKING SERVICES COST PROFORMA -- SUNBANK, N.A.
CURRENT PRICING
8
1 ESTMA TED:
MONTHL 'Ii COLLECTED¡
UNIT COMPENSA TING,
SERVICES VOLUME 3 CHARGE BALANCfj
I
BASIC SERVICES
FDIC INSURANCE 2 207 $0 1597 $33.07 $7.922.68
ACCOUNTM~NTENANCE 3 $10 0000 $30.00 $7,188.15
DEPOSJIORY SER~ $1,425.65 i
DEPOSITS (1-15) 17 $0 3500 $5.95
ITEMS DEPOSITED-UNENCODED 2,377 $0 0700 $166.39 $39,867.89
DEPOSITED ITEMS RETURNED !
REPRESENTMENTS 6 $0 0000 $0.00 $0.001
CHARGE BACKS 3 $0 0000 $0.00 $0.00
~l.!1is.EM.E.N T S E R V, C E S
ITEMS PAID (1-4999) 638 $0.1000 $63.80 $15,286.80
ACCOUNT RECONCILIA TlON SERVICES
FINE SORT
BASE RATE 1 $15,0000 $15.00 $3,594.08
WITHOUT ARP - PER ITEM ($20 MTHL Y MIN) 638 $0 0250 $15.95 $3,821.70
~~
ITEMS RECEIVED-DEBITS/CREDITS 2 $0,0000 $0.00 $0.00
WlBE TRANSFER SERVICES
MANUAL
INCOMING - DOMESTIC 2 $0.0000 $0.00 $0.00
INTERNAL TRANSFER 2 $5 0000 $10.00 $2,396.05
TELEPHONE NOTIFICATION 2 - $3.0000 $6.00 $1,437.63
ZERO BALANCE ACCOUNT SYSTEM $8,386.18!
lBA MASTER ACCOUNT 1 $35 0000 $35.00
lBA SUBSIDIARY ACCOUNT 2 $10.0000 $20.00 $4.792.10
I
I
TOTAL ESTIMATED MONTHLY SERVICE CHARGE: $401.16 I
TOTAL ESTIMATED COLLECTED COMPENSATING BALANCE:
I
$96,118.91,
FOOTNOTES:
1 Banking se"'lce fees may be olbet by direct debit, compenutlng balances, or a comblnatJon of both. The compensating balance indicated was calculated
using the July, 1995, Eamlngs Credit Rate of 5,460".
2 The $ 1597 charge for FDIC Insurance is applied to each $1,000 Increment of the average ledger balance. Actual fees for FDIC Insurance WIll
vary according to the ledger balance maintained in the account(s). Sun Bank r...",es the nght to Increaae the charges associated WIth the
maintenance of FDIC Insurance, as they are levied by the FDIC.
3 Volume IS based on , . and IS Intended tor illustration purposes only. Actual volume may vary.
4 Fees tor other requested seMces not a~dressed at this time, WIll be prOVIded at the tJme ot request.
City of Clermont Cost Proforma (cclerPF wk4)
08/30/95 (1)
, .
,
8
COST PROFORMA - PROPOSED PRICING
8
*** FOR INTERNAL USE ONL Y *** 8
CITY OF CLERMONT
SUNBANK N.A. COST VS. PRICE PROFORMA
PROPOSED PRICING
MONTHL ESTAfATE
UNIT M"NTHL BANK BAN MOHTHL
~ VOLUME I CtIßBGE Clt kQH
ß,4&J~~Çfi
FDIC INSURANCE) 207048 $0.15970 $33.07 $015970 $3307 $0.00
ACCOUNT MAINTENANCE 3 $7 00000 $21.00 $1916970 $5751 $36.61
0 ~...œi JLQBX_~.EB-'{JÇ fi
DEPOSITS (1-15) 17 $0 20000 $3040 $1 61030 $27 38 $23.98
ITEMS DEPOSITED-ENCODED 2,377 $0.06000 $142.62 $006003 $14269 $0.07
DEPOSITED ITEMS RETURNED
REPRESENTMENTS 6 $000000 $0.00 $0 57790 $347 $3A7
CHARGEBACKS 3 $0 00000 $0.00 $249100 $747 $7.47
RETURN ITEM SPECIAL HANDLING
ADVICE COPIES $000000 $0,00 $038600 $000 $0,00
ADDRESS CHANGES $0 00000 $0.00 $0 32700 $000 $0.00
BRANCH SENDS $0 00000 $0.00 S'!]21oo $000 $.0.00
FAX COpy SO 00000 $0.00 S.O 72100 SO 00 SO,OO
KEY MAKER NAME $0 OQOoo f~oo SO 00200 $000 $0,00
ORIGINAL ADVICES $000000 $0,00 $000000 SO 00 $0.00
RETURN ITEM PHONE CALLS $0.00000 $0,00 $072100 $000 $0.00
RETURN ITEM PHOTOCOPIES $0 00000 $0,00 $011600 SO 00 $0.00
~B~ENT SERVI.Cfi
ITEMS PAID (1-4999) 638 $0.05000 $31.90 $0 02760 $17 61 $14.29
STOP PAYMENT - MANUAL $2500000 $0.00 $21 07660 $000 $0,-00
STOP PAYMENT. ON LINE (VIA EW) $10.00000 $0.00 $1 27850 $000 $0.00
ACCOUNT a.E~I.lAI1QN~.EB-'{JÇfi
PARnALRECONC~EMENT
BASE CHARGE 1 $0 00000 $0.00 $1532697 $1533 $15.33
PER ITEM 638 $0 04000 $26,62 $0 03701 $23 61 $1.91
ARP OUTPUT
TRANSMISSION $1000000 $10.00 $0 69397 $069 $9.31
PER ITEM $0 00000 $000000 SO 00 $000
FINE SORT
BASE RATE 1 $0 00000 $0,00 $1245118 $1245 $12.46
WITH ARP - PER ITEM ($15 MTHLY MIN) 638 $0.02500 $16.96 SO 00650 $415 $11,80
CONTROLLED PAYMENT SERVICES
MAINTENANCE $50.00000 $0.00 $703000 $000 $0,00
ITEMS PAID $007000 $0.00 $006500 $000 $0.00
MISMATCHES $5,00000 $0.00 $000000 $000 $_0.00
PC INPUT FILES $2 00000 $0.00 $0 00000 $000 $0.00
STOP PAYMENT (ON ISSUE FILE) $0 00000 $0.00 $0 00000 $0.00 $0.00
$50.00000 $60.00 $1429550 $1430 $35.70
~Vl~
ITEMS RECEIVED-DEBITS/CREDITS 2 $0,00000 $0,00 $0 04900 $0,10 $0.10
ITEMS ORIGINATED-DEBITS/CREDITS 50 $0,06000 $3.00 $0 04290 $2,15 $0.86
INPUT. TRANSMISSION 4 $10,00000 $40.00 $763010 $3052 $ 9.48
PER ITEM $0 00000 $0,00 $000060 $000 $0.00
ACH INPUT CHANGES $1 00000 $0.00 $2.21450 $.Q..Q.Q $0.00
ACH RETURNS/CHARGEBACKS $300000 $0.00 $003540 $000 $0.00
ACH REPRESENTMENTS $3,00000 $0.00 $003540 $000 $0.00
~jMANA~
CASH MGMT SWEEP INVESTMENT SERVICE $0 00000 $0.00 $10.48000 $1048 $10.48
I.QÇKÐ.QlLSER'll~
INFORM LOCKBOX
MAINTENANCE $50 00000 $0.00 $104 94880 $000 $0,00
ITEMS PROCESSED $0.28000 $0.00 $026100 $000 $0.00
UNPROCESSABLEITEMS $0,28000 $0,00 $026100 $000 $0.00
DATA TRANSMISSION $6 00000 $i).00 $5.43710 $000 $0,00
PER ITEM $0 00000 0.00 SO 00620 $0.00 $0.00
WlF~FER SERVICES
MANUAL
INCOMING - DOMESTIC $0,00000 $0.00 $5 90734 $591 $5.91
OUTGOING - REPETITIVE $9.00000 $0.00 $503310 $000 $0,00
OUTGOING. NON-REPETITIVE $11,00000 $0.00 $543596 $000 $0.00
OUTGOING - INTERNATIONAL (U.S. CURRENCY) $25.00000 $0.00 $25 67840 $000 $0.00
INTERNAL TRANSFER 2 $5 00000 $10.00 $4 76940 S954 $0.46
SUNWIRE - ON LINE WIRE TRANSFERS
REPETITIVE $6 00000 $0.00 $..4 73939 $O..QO '-~.o
NON-REPETITIVE $7 00000 '-~O!I $5 18322 $000 $0.00
BALANCE INQUIRY $1 00000 $0.00 SO 00000 $000 $0,00
WIRE REPORT $0 00000 .00 $0 00000 $000 $0.00
INTERNAL TRANSFER $2.00000 $å.oo $439721 $000 $~~O
TELEPHONE NOTIFICATION 2 $3 00000 $6.00 S154227 $308 $2,92
CITY OF CLERMONTCost vs Pnc8 Proforma (CCLER2CP.wk1)
$7,922.68
$6031,71
$814,66
$34"::::J
~
---¡
$0,00
$0.00
$oJïõ
$000
$0,00
SO °°
SO.OO
$0,00
$7,643AO
$0,00
$0.00
$0,00
$6,114,72
$2,396.05
$0,00
$O~~
$3,821,70
$000
$0,00
$0.00
$000
$0,00
$119a"õ25
$0.00
$718.82
$9,5~~
$0 ~O
$~~
$0.00
$000
$0,00
$0.00
~O o.~
$000
S(lÖlf
$0,00
$0,00
$0.00
$O,-°!l
$000 I
$2,396,051
I
$0,00
S'Õ-:ÕÕ
SO":"oo
SO.O-O
SO:OO
$1,437 63
10104/95 (1>
.... FOR INTERNAL USE ONL Y""
1
2
$20,00000
$5 00000
$300000
$3 00000
$5 00000
$20.00
$10.00
$0.00
$0.00
$0.00
8 2 EST1MATEQ
MONTHL ESTMA COLLEC~
BANK BAN MONTHL COMPENSA TIN
CQll f!.
$1 83132 $1.83 $18.17 $4,792.10
$1.83132 $3.66 $6.34 $2,396.05
$0.00000 $000 $0.00 $0.00
$2,20420 $000 $0,00 $0,00
$168224 $0.00 $0.00 $0.00
8
~E$.'
~B!J.BAl.Nl.CE ACCOUNT SYSTEM
ZBA MASTER ACCOUNT
ZBA SUBSIDIARY ACCOUNT
QIHEBLQP.11Q~
RESEARCH (PER QUARTER HOUR)
PHOTOCOPIES
ADDITIONAUINTERIM STATEMENT (W/OUT ITEMS)
VOLUME,
UNIT
~
MONTHL
TOTAL ESTIMATED MONTHLY SERVICE CHARGE~
$422.46
TOTAL ESTIMATED MONTHLY BANK COST:
$426.99
ESTIMATED MONTHLY BANK PROFIT:
$4.53
ESTIMATED COMPENSATING BALANCE:
$101,222.50
PERCENT MARK-UP:
-1.06%
PROFIT MARGIN:
.1.07"1.
FOOTNOTES:
t Volume IS ba.ed on
and ,. Intended for IIlultrallon purpolos only Actual volume may vary
2 Banking SO/VICO cnorgos may bo offset by dlroct dob«. componsanng balanco.. or a combination of both Tho componsallng balanco IndiCalod was calculated uSIng tho Juno, 1995, Earnongs Crod4
Rato ot 5 460%
3 Tho $ 1597 chargo for FDIC Inluranco IS applood 10 oach $1.000 Incromonl of tho Avorago Ledger Balanco and Is balld on tho auumpllOn thai tho compensating balanco reqwomonl Indated IS
malntalnod 10 offsel monthly SO/VlCe tees SunBank rosorves the nghlto Incr.all tho charg.. associated wltlltho maintenance or FDIC insurance as they aro levied by tho FDIC
CITY OF CLERMONTCost vs. Price Proforma (CCLER2CP.wk1)
10/04/95 (2)