Bank Services RFP

Agency:	City of Newnan
State:	Georgia
Type of Government:	State & Local
NAICS Category:	561720 - Janitorial Services
Posted Date:	Apr 28, 2026
Due Date:	Jun 19, 2026
Original Source:	Please Login to View Page
Contact information:	Please Login to View Page
Bid Documents:	Please Login to View Page

Bid Title:	Bank Services RFP
Category:	Request for Proposals
Status:	Open

Description:

The City is soliciting proposals from qualified, experienced, financially sound and responsible financial institutions to provide banking services for the City. The selected financial institution will assign the City’s Master Depository Account, and other accounts and requirements, to a specialized governmental unit with a dedicated team of experienced staff to service these accounts. In addition to these accounts, the City also requires a dedicated customer service representative to be assigned to the City to assist with the day-to-day activity on these accounts.

For more information, contact Ronda Helton, Finance Manager, by email or phone .

Publication Date/Time:

4/28/2026 2:00 PM

Closing Date/Time:

6/19/2026 11:00 AM

Contact Person:

Ronda Helton, Finance Manager

Attachment Preview

Ricardo Cornejo

First Vice President

Public Finance

515 East Crossville Road

Suite 380

Roswell, Georgia 30075

(404) 865-4040

rcornejo@investdavenport.com

City of Newnan

Douglas Gebhardt

Senior Vice President

Public Finance

515 East Crossville Road

Suite 380

Roswell, Georgia 30075

(404) 825-9467

dgebhardt@investdavenport.com

April 27, 2026

Request for Proposal – Banking Services

Table of Contents:

1. Objectives and Bank Account Structure

2. Scope of Work

3. Instructions to the Financial Institutions

4. Financial Institutions to Review City Operations

5. Format of Proposal and Submittal

6. RFP Estimated Timetable

7. Selection Criteria

8. Terms and Conditions

9. Additional Requirements

Attachments

Exhibit A – Banking Services Proposal Form

Exhibit B – Cost Proposal

Attachment A – Immigration and Security Form

Attachment B – Vendor Declaration

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Page 1

City of Newnan, Georgia

RFP for Banking Services

1. Objectives and Bank Account Structure

In our capacity as Financial Advisor to the City of Newnan, Georgia (the “City”), Davenport & Company LLC

(“Davenport”) is issuing this Request for Proposals (the “RFP”) on behalf of the City to solicit proposals from

qualified, experienced, financially sound and responsible financial institutions to provide banking services for

the City. The selected financial institution will assign the City’s Master Depository Account, and other accounts

and requirements, to a specialized governmental unit with a dedicated team of experienced staff to service

these accounts. In addition to these accounts, the City also requires a dedicated customer service

representative to be assigned to the City to assist with the day-to-day activity on these accounts.

CITY OF NEWNAN FINANCIAL INFORMATION

Council employs a city manager to manage the daily operations of city government. The City Manager and his

administrative staff prepares the city’s annual budget, negotiate intergovernmental agreements, implements

Council’s policies, appoints department directors, serves as City liaison to other government agencies, citizens,

businesses and visitors, and supervises all city employees. Administrative staff is based at 25 LaGrange Street

in Newnan. The City currently employs 343 people - organized into five (5) functions: General Government, Public

Safety, Public Works, Community Development and Other Services. Total headcount includes 15 part-time

employees and 7 elected officials. Other city-wide positions appointed by Council include the municipal court

judge, city attorney and assistant municipal court judges. Detailed information regarding the operating budget

and audited financial statements for the City of Newnan may be found on the online website: https//

www.https://www. https://www.newnanga.gov/169/Finance following the link to the Finance Department.

Bank Account Structure:

Proposals are requested for banking services for the City’s operating and money market accounts within the

scope of the following descriptions. The City proposes to operate utilizing the following eighteen (18) bank

accounts for the City. These accounts are from March 2026 Analyzed Statements. Please see Chart below:

Account Number

Type Fund

Interest Bearing

Account Type - Current

*Acct Type Recommendation

Average Balance

4174

Impact Fee

YES

Public Fund

Money Rate

Savings

2266

2255

2530

9901

Grant - NSP

Grant -

NSP3

Grant - NSP1

Ins Fund - Group

Program

Insurance

Income

YES

Basic Public

Funds

Checking

Basic Public

Funds

Checking

Public Fund

Money Rate

Savings

Public Fund Money

Rate Savings

5259

Fund 602

Workers

Comp

YES

Public Fund

Checking

1609

9727

8446

Main Acct -

SPLOST - 2025

Master

SPLOST - 2019

Depository Acct

YES

Public Fund

Money Rate

Savings

Public Funds

Interest Checking

(Main Operating)

Public Fund

Money Rate

Savings

$1,572,668.32 $ 2,670.44 $

2.10 $562,705.10 $ 879,615.59 $278,016.76 $6,461,882.71 $ 2,813,418.85 $5,840,068.62

Account Number

Type Fund

Interest Bearing

Account Type - Current

*Acct Type Recommendation

Average Balance

9425

5442

4549

Sanitation -

Fund 540

Grant - ARP

Grant - Chip 2021 Fiscal

Recovery

YES

Public Funds

Interest Checking

Basic Public

Fund

Checking

YES

Public Funds

Interest

Checking

2150

Custodial

Fund - PD

Pending

Seized

YES

Public Funds

Interest

Checking

2371

1490

5450

General Fund

Conf Assets-

Other/Local

Seizures

Grant - Fund

223 EDI CPF

Grant

YES

Public Fund Money

Rate Savings

YES

Public Funds

Interest

Checking

Basic Public Fund

Checking

0323

Grant -NSP3

Program Inc

YES

Public Fund

Money Rate

Savings

3614

FLOST

YES

Public Fund

Money Rate

Savings

$1,526,613.47 $

- $18,413.31 $ 55,032.43 $ 13,701,153.06 $171,442.67 $ 1,456.00 $ 504,418.67 $1,816,280.59

*Note: The City is open to changing the designation of these accounts if it is advantageous to the City.

Member NYSE | FINRA | SIPC

Page 2

City of Newnan, Georgia

RFP for Banking Services

Description:

To enable the City to have maximum cash availability an account structure as outlined below. The structure will

be comprised of a Master Depository Account, interest bearing public funds checking account, interest bearing

money market accounts and non-interest-bearing accounts. The City is open to financial institutions

recommending different account types if it is advantageous to the City. The City reserves the right to open or

close additional non-interest-bearing public funds accounts, or interest-bearing public funds accounts during

the term of this agreement at no additional cost, should it be deemed necessary.

Depository Account:

The purpose of the concentration account is to concentrate on the City’s cash balances for more effective cash

management and investment. All deposits under this agreement shall be made into these concentration

accounts. Funds deposited into these accounts shall be considered as collected as soon as funds are available

to the bank. Incoming and outgoing wire transfers will be made from this account principally for investment in

purchases and sales. This account will be titled Master Depository Account.

Interest - Bearing Public Funds Accounts:

The awarded financial institution will incorporate these new accounts into this system as if they were a part of

the original RFP and will not penalize the City for adding or deleting accounts which are a part of the original

proposal.

Non-Interest-Bearing Public Funds Accounts:

The awarded financial institution will incorporate these new accounts into this system as if they were a part of

the original RFP and will not penalize the City for adding or deleting accounts which are a part of the original

proposal.

Operation of the System:

It is the intent of the City of Newnan to operate the system so that the City’s float is eliminated to the maximum

extent possible from all accounts. The accounts that are a part of the system shall be operated in accordance

with the following provisions:

▪ Funds collected by the various departments will be deposited into the appropriate accounts. The City

shall receive credit for all funds when collected funds are available to the financial institution, but

no later than the next business day following receipt of the deposit.

▪ All checks, warrants, and drafts drawn on the awarded Institution and all City checks (U.S., State,

and local) will be deposited into the appropriate account for credit as collected funds on the day of

deposit.

▪ All incoming wire transfers shall be made available for immediate credit.

▪ Transfers between the accounts will be charged to the City only as transfer, not also as items

deposited and checks paid.

Member NYSE | FINRA | SIPC

Page 3

City of Newnan, Georgia

RFP for Banking Services

2. Scope of Work

The services required to accommodate the City’s current and future needs major service categories are

described below. In the Banking Services Proposal, please describe the financial institution’s ability to perform

each Scope of Work. (Response Requirements included Banking Services Proposal Form)

A. Wire Transfers. The successful financial institution shall enter a wire transfer agreement with the City. The

terms of this agreement will be mutually negotiated and agreed upon. Transfers may be in the form of repetitive,

non-repetitive, internal, ACH, or EFT. The bank must be a member of the Federal Reserve System and have direct

wire capabilities. The bank must be a member of an automated clearinghouse association and be in compliance

with all rules and relations set by the National Automated Clearing House Association (NACHA), local ACH

associations, and ACH operators. The City shall have the ability to initiate all types and amounts of wire transfers

electronically. Confirmations of all incoming and outgoing wires will be made available daily by the bank.

The successful financial institution agrees to execute any orders for outgoing wire transfers on a timely basis.

Transfers ordered by noon local time and not received by the destination party by 5:00 p.m. local time that are

reported to the City will be traced by the successful financial institution from origin to destination to ascertain

the party responsible for the delay.

B. Direct Deposit and Payroll System. The City currently outsources payroll processes for approximately 343 full

and part-time/seasonal City employees on a bi-weekly basis City employee are paid on Friday.

C. Tax Payments. Currently the City outsources withholding of tax payments. However, it may in the future utilizes

the Electronic Federal Tax Payment System (EFTPS) for Federal/FICA/Medicare withholding payments and the

State of Georgia’s Electronic Tax Payment System for State withholding payments.

D. Positive Pay. The City uses a positive pay system for disbursements and needs continued access to this

security system. Online banking must allow for import of a positive pay file. Positive Pay will need to apply to

both disbursement and sweep investment accounts.

E. Integrated payables services. The City currently does not use third-party check issuance ACH payments, and

virtual credit card payments integrated with the City accounting software Tyler Tech. The City processing ACH

payments via Nacha files uploaded in the online banking system. However, the City may be changing its

accounting software. Therefore, the City would like to know what accounting software the financial institution’s

online platform is compatible with. In addition, the City would like to have this service from the selected financial

institution.

F. Collateralization. The financial institution will maintain a portfolio of investments, safe kept by a third party

(i.e., The Federal Reserve Bank) and pledged to the City, sufficient to collateralize all deposits of the City in

excess of FDIC coverage in accordance with applicable OCGA §45-8-11 through §45-8-15 and §50-17-59. The

successful financial institution will enter into a written collateral agreement with the City at the time such

collateral is pledged. When changes in deposited funds mandate a change in collateral, said collateral will be

pledged within three working days. The pledged collateral cannot be substituted without written consent of the

City. The collateral will be reviewed daily and priced by a third party on a monthly basis to ensure proper

collateralization of funds on deposit. The City will receive a monthly written report detailing all collateral pledged.

The successful financial institution, in lieu of the above collateralization requirements, may utilize the Georgia

Bankers Association (GBA) State of Georgia Pledging Pool, as allowed by the State of Georgia. However, if this

means of collateralization is used, the City will require a monthly report from GBA that lists the total public

deposits of the successful financial institution and the total securities pledged for those deposits. This report is

Member NYSE | FINRA | SIPC

Page 4

City of Newnan, Georgia

RFP for Banking Services

to be provided within three working days of the end of each month at no cost to the City and should the collateral

be less than 110 percent, the financial institution will have five working days from the end of the month to

ensure required collateralization. Failure to provide this report on a timely basis or failure to provide adequate

collateralization on a timely basis may result in termination of any contracts.

G. Reporting Services and Statements of Advice. All accounts will run on a calendar month basis. The financial

institution must provide monthly statements, account reconciliation reports, account analysis statements,

confirmation tickets, cancelled checks, and other report-related features normally associated with commercial

accounts. The City preference is that monthly statements and account analysis statements shall be received by

the 1st working day of the month. However, if the financial institution cannot meet this timeframe please provide

when monthly statements and accounts analysis statements will be received. Provide a sample bank statement

in your proposal to the City.

All advices affecting a debit or credit memo transaction must be provided daily and electronically. Confirmation

of all wires should be provided electronically on a daily basis. Bank coding errors should be corrected within 72

hours after notification by the City at no cost to the City. The financial institution will be expected to provide

custom, specialized reports from time to time.

A paid item file including check number, check amount, and date paid for all items paid in the preceding month

should be available for the City to download within five business days after month-end for the payroll and general

disbursement accounts. All paid item data for the City shall be maintained by the bank after download for a

period of one year. Unpaid items data would also be helpful.

H. Check Cashing. The successful financial institution shall honor all payroll, accounts payable, and petty cash

checks that are on the positive pay listing provided by the City and presented by payees at any of its offices when

accompanied by appropriate identification, without charge to the payee.

I. Online Banking Services. Online banking shall be compatible with the City’s operating system Tyler

Technologies. Online banking shall include cash management support. The financial institution must be capable

of providing balance, float, and activity figures electronically on a daily basis. Online inquiry, transaction

initiation, and reporting systems shall be accessed via internet to include at a minimum:

1. Daily reporting of account balances, collected and available,

2. Account detail for current month and, at minimum, eleven prior months (Electronic Statements)

3. Wire transfer initiation and authorization,

4. City-originated stop payments of checks,

5. Returned items charged against accounts,

6. Bank reconciliation files,

7. Online check images (front and back) for all accounts, and,

8. Records of all account activity must be accessible (online). It is preferred these records be available

for eighteen months but required for twelve months for audit purposes.

9. Additional reports to be accessible on the online platform; ACH Controls, Positive Pay, Wire Reports,

Stop Payment, Account Transfer, Image Retrieval and ability to customize reports.

Member NYSE | FINRA | SIPC

Page 5

This page summarizes the opportunity, including an overview and a preview of the attached documents.

* Disclaimer: This website provides information about bids, requests for proposals (RFPs), or requests for qualifications (RFQs) for convenience only and does not serve as an official public notice. Individuals who wish to respond to or inquire about bids, RFPs, or RFQs should contact the relevant government department directly.

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Bank Services RFP

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