Laserfiche WebLink
� Finance and Management Services <br /> www.santa-ana.org/finance <br /> Item # 19 <br /> r <br /> City of Santa Ana <br /> 20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br /> August 5, 2025 <br /> TOPIC: Depository Banking Services <br /> AGENDA TITLE <br /> Resolution and Second Amendment to Agreement with J.P. Morgan Chase Bank, N.A. <br /> (General Fund) <br /> RECOMMENDED ACTION <br /> 1. Adopt a Resolution designating J.P. Morgan Chase Bank, N.A. as the official <br /> depository for the City of Santa Ana for two (2) additional years commencing January <br /> 1, 2027 through December 31, 2028. <br /> RESOLUTION NO. 2025-XXX entitled A RESOLUTION OF THE CITY COUNCIL OF <br /> THE CITY OF SANTA ANA DESIGNATING JP MORGAN CHASE BANK, N.A., AS <br /> THE DEPOSITORY FOR CITY OF SANTAANA FUNDS, FOR TWO (2)ADDITIONAL <br /> YEARS THROUGH DECEMBER 31, 2028, AND DESIGNATING SIGNATORIES <br /> AUTHORIZED FOR THE PURPOSE OF WITHDRAWAL OF SAID FUND <br /> 2. Authorize the City Manager to execute a second amendment to agreement with J.P. <br /> Morgan Chase Bank, N.A. ("JPMC")to provide additional banking and related services <br /> in the amount of $225,000, for a total agreement amount not to exceed $787,500 <br /> (Agreement No. A-2025-XXX). <br /> GOVERNMENT CODE §84308 APPLIES: Yes <br /> DISCUSSION <br /> The Treasury and Customer Service Division ("Treasury") of the Finance and <br /> Management Services Agency ("FMSA") is responsible for maintaining all banking related <br /> services and transactions for the City, Successor Agency, and Housing Authority. <br /> Banking related services include, but are not limited to: daily deposit processing <br /> (electronic/physical checks, currency, and coin), check clearing, Automated Clearing <br /> House (ACH), gateway services, wire services, and account reconciliation. <br /> The term of the current agreement with J.P. Morgan Chase Bank, N.A. ends December <br /> 31, 2026. The recommended action would extend that term to December 31, 2028. <br />