NOTICE AND SPECIFICATIONS:
In accordance with Sections 165.211, RSMo, and The Board of Education Policies of the Marshfield R-1 School District (F-135-P and F-150-P), the Marshfield R-1 School District of Webster County, Missouri, will accept sealed bids for the purpose of selecting a bank depository contract commencing on July 1, 2026. Bids to be forwarded by U.S. Mail should be mailed at least five working days prior to the scheduled proposal opening date to assure delivery in time for the bid opening. The district will not be responsible for late arriving bids due to mail service delays. Bids are to be prepared at no cost to the Marshfield R-1 School District and will remain the property of the Marshfield R-1 School District. Bids must be delivered sealed and marked “Bank Depository Services Bid” in the lower left hand corner of the envelope.
The Marshfield R-1 School District reserves the right to reject any and all bids, and to waive any irregularities. Bidders are asked to respond to all items. Clarification or questions may be addressed to the Marshfield R-1 School District’s Superintendent.
I. Procedures for Receiving and Awarding Depository Contract
A. Bids are to be submitted to the Superintendent’s office of the Marshfield R-1 School District, 170 State Hwy DD, Marshfield, Missouri, on or before 2:00 p.m. Monday, May 4, 2026. Bids will be opened at that time in the Superintendent’s office. Envelopes containing bids are to be marked : Bank Depository Services Bid. The District and the Board of Education reserves the right to reject any and all bids and to waive any irregularities.
B. Once submitted to the District in sealed form, bids cannot be altered.
C. After all written bids are open and have been read each will be reviewed by the District’s Executive Administration and financial staff. The Board of Education will review bids during the regularly scheduled May meeting.
D. The district may choose to interview any or all of the bidders to obtain an accurate understanding of each bid received.
E. A certified check in the amount of two thousand five hundred dollars ($2,500) payable to the Marshfield R-1 School District will be submitted by each banking institution participating in the bidding process as required by Section 165.221, RSMo. The check will be returned to unsuccessful bidders immediately upon action by the Board, and will be returned to the successful bidder upon verification of pledged securities by law.
II. General Conditions
A. The minimum length of the agreement will be for one year. Bids will include rates for an agreement length of three years and five years as well. The district will select the length of agreement that best meets the district’s needs.
B. It will be the responsibility of the depository to adhere to all state and federal laws applicable to public school districts, including the furnishing of securities. Funds deposited must be fully secured as required by law. Each proposal must include the type of security to be used as collateral for the account(s) and the name of the trustee for securities pledged.
C. District’s operating and reserve funds, as designated by the District, shall be included in the depository agreement. This agreement is not exclusive. District reserves the right to deposit surplus funds in the Missouri Securities Investment Program (MOSIP) or other depositories.
D. Responsibilities of the depository, aside from normal banking procedures, include:
1. Serve as depository for federal withholding deposits.
2. Render a statement on each account by the thirteenth day of each month with checks listed in numerical order.
3. Furnish printed deposit books.
4. Furnish night depository bags and accept overnight deposits.
5. Furnish necessary coin (silver) bags and accept deposits in bulk.
6. Furnish cashiers checks.
7. Allow stop payment orders.
8. Obtain permission from a district designee to change deposits by $5.00 or more.
9. Furnish printed checks at no cost to the district.
10.Permit and facilitate wire transfers of certain state and federal funds coming into the district.
11. Provide on-line balance reporting.
12.Provide direct deposit of payroll.
13.Provide fee structure for returned checks.
14.Provide controlled disbursement checking.
15.Provide on-line or secured internet banking (w/ multifactor authentication) 16.Provide a purchasing card program.
17.Provide automatic deposit scanners for each office (6 offices).
18.Provide verification of transactions through Positive Pay (or a like service) for checks and ACH payments.
19.Additional services provided by the bidder may be listed on an addendum page.
E. Bids must include a completed “Marshfield R-1 School District Depository Bid Sheet”, a one or two paragraph Executive Summary highlighting the providers qualifications, and a Letter of Transmittal introducing and discussing the providers ability to meet the conditions of the RFP.
II. District Financial Information
A. District’s current financial records are available for examination by interested bidders during the business hours of 8:00 a.m. to 4:00 p.m. on regular working days at the Office of the Superintendent, 170 State Hwy DD, Marshfield, MO.
B. The school district’s budget for the 2026-2027 school year is in excess of $35,000,000.
C. District receives state aid payments each month of approximately $1,500,000. Major local revenue is received in January and February in the amount of approximately $9,500,000. During the 2026-2027 school year the District will make approximately 3,700 deposits.
D. Payroll checks are issued on the last business day of each month through direct deposit to approximately four hundred (400) employees. Accounts payable checks are issued after the regular monthly Board meeting held on the third Monday of each month. During the 2026-2027 school year the District will issue approximately four thousand (4,000) checks and five thousand (5,000) direct deposit payment stubs.
E. It is the intention of the District that surplus funds be invested for a period of one month to twelve months. The district expects to maintain an average excess fund balance of at least $10,000,000. The interest rate paid on the excess fund account would be indexed at a percentage above or below the most recently publicized 91-day Treasury Bill “discount rate” as published in the Wall Street Journal. (Financial institutions should specify in their bid proposal the rate above or below the 91-day Treasury Bill “discount rate” they would allow for the period of the contract agreement. The District reserves the right to deposit excess funds in the Missouri School Investment Program (MOSIP) or other depository selected by the district.
