Laserfiche WebLink
2. Describe the LAIF transfer process. Are the transfers done by telephone, fax, <br />wire ACH, e -mail, etc.? <br />3. What is the charge per transfer to LAIF? From LAIF? <br />4. Is it possible to set up the transfers in advance? If so, how far in advance <br />can a transfer be set up? <br />5. Describe the method used by the Bank for processing State of California <br />apportionment payments. <br />F. Cash Management. The Treasury & Customer Services Manager manages the <br />City's $309 million dollar investment portfolio. The portfolio consists of mostly <br />fixed income type securities, such as federal agency securities, certificates of <br />deposits, etc. In the event the City releases wire transfers in amounts greater <br />than the current Bank balance in anticipation of receiving funds either by a <br />maturing investment or deposits, the City would have the need for a daylight <br />overdraft to accommodate its cash management activities. The amount of the <br />daylight overdraft may be as high as $5 million. The bank should have the <br />capitalization necessary to accommodate the City's depository and cash flow <br />needs. <br />1. What is the Bank's policy regarding Daylight Overdrafts (DOD)? If there is a <br />charge for DOD, how is it calculated? <br />2. Will the Bank guarantee that all items drawn on City accounts be paid <br />regardless of the balance in the funding account? Please be comprehensive in <br />your response. <br />G. Full Account Reconciliation. The City utilizes full account reconcilement <br />services for the General Demand Deposit account and the Jail Commissary <br />account. The City transmits "checks issued" information to the Bank daily <br />utilizing its current banking system. The Bank provides a daily detailed report, by <br />account, of checks paid, and a monthly detailed report of checks outstanding. A <br />paid check file is transmitted to the City on a daily basis via secure transmission. <br />Paid checks are also imaged and provided on a monthly compact disc (CD). <br />The Bank must provide electronic monthly account reconcilement reports, bank <br />statements, account analysis statements, confirmations, and other report related <br />features. From the Pooled Account City currently issues approximately 1,570 <br />checks monthly. In addition, City issues 130 checks monthly from the <br />Commissary Account. In addition, the Bank must be able to provide full account <br />reconciliation services and positive pay check protection services for both the <br />City's pooled account and the Commissary account. <br />1. Describe the account reconciliation services offered by the Bank. <br />2. Describe when the Bank makes reports available after the last day of the <br />month. <br />City of Santa Ana — Banking Services Page 7 <br />