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Meeting Date:
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6/22/2023 - 6:00 PM
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Category:
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Consent Agenda
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Type:
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Action
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Subject:
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Depository Services Bid Renewal
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District Goals:
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Goal 1 Thriving Students Goal 2 Engaged Community Goal 3 Empowered Staff
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Enclosure
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File Attachment:
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Summary:
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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 June 30, 2025. This is our first of three renewal options. We will be required to perform a new RFP in 2029.
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.
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Budgetary Impact:
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There is no fiscal impact to the District.
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Recommendation:
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Recommend approval to extend our Depository Bank contract for an additional two years as presented.
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Approvals:
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Recommended By:
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Signed By:
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Stacey Adrian - Chief Financial Officer
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Signed By:
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Anthony Kirchner - Chief Communications Officer
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Signed By:
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Michael McFarland - Superintendent
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Vote Results:
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| Original Motion | | Member Mia Hall Moved, Member June Davis seconded to approve the Original motion '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: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | June Davis | Yes | | Mia Hall | Yes | | Gary Grassia | Yes | | LaTonya Mayfield | Yes | | Nedra Robinson | Yes | | Kelicia Stevenson | Yes | | Daryl Davis | Yes | |
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