Agenda, closed session, second session — City Council / Local Redevelopment Authority / Public Financing Authority, December 10, 2024 (part 4 of 7)

CC/LRA 12/10/2024
CC Resolution 2024-xxx

CITY OF RIVERBANK
RESOLUTION 2024-XXX

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERBANK, CALIFORNIA, ACCEPTING THE FISCAL YEAR 2023-24 ANNUAL AB 1600 REPORT

OF SYSTEM DEVELOPMENT FEE ACTIVITY

THE CITY OF RIVERBANK CITY COUNCIL (HEREAFTER REFERRED TO AS THE “CITY COUNCIL”) DOES HEREBY RESOLVE THAT:

WHEREAS, the City of Riverbank imposes fees to mitigate the impact of development pursuant to Government Code Section 66000 et seq.; and WHEREAS, said fees collected are deposited into special and separate capital funds for each type of improvement funded by development fees; and WHEREAS, the City maintains separate funds for Streets/Public Works development, Water, Waste Water, Storm Drainage, Recreation & Parks, and Police & General Government fees; and
WHEREAS, the City is required within 180 days after the last day of each fiscal year to make available to the public information for the fiscal year regarding these fees under Government Code Section 66006; and
WHEREAS, the Finance Department has prepared a report (“AB 1600 Report”) that contains the information required by Government Code Section 66006, a copy of which is attached hereto as Exhibit “A”; and
WHEREAS, there were no refunds of development impact fees collected pursuant to Government Code Section 66001(e), nor were there any allocations of unexpended revenues collected pursuant to Government Code Section 66001(f); and WHEREAS the AB 1600 Report was made available for review on October 25, 2024 which is at least fifteen (15) days prior to the date that the Council considered the AB 1600 Report; and
WHEREAS, interested persons have requested notice of the AB 1600 Report consequently notices of the availability of the AB 1600 Report were mailed/emailed.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Riverbank hereby resolves as follows:

ATTACHMENT 1

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CC/LRA 12/10/2024
CC Resolution 2024-xxx
Section 1:

A. In accordance with Government Code Section 66006, the City has conducted an annual review of its development impact fees and capital infrastructure programs and the City Council has reviewed the AB 1600 Report attached hereto as Exhibit “A” and incorporated herein by this reference.

B. The City Council hereby approves, accepts, and adopts its AB 1600 Report for Fiscal Year 2023-24.

C. The AB 1600 report is available for public review on the City’s internet website, and upon request.

Section 2. Effective Date. The resolution shall take effect immediately upon adoption.

Section 3: Severability. If any section, subsection, sentence, clause, phrase, or portion of this Resolution is for any reason held invalid or unconstitutional, such decision shall not affect the validity of the remaining portions of this Resolution.

Section 4: The City Council hereby authorizes the Finance Department to continue maintaining separate funds for Streets/Public Works, Water, Waste Water, Storm Drainage, Recreation & Parks, and Police & General Government System Development Fees.

PASSED AND ADOPTED by the City Council of the City of Riverbank at a regular meeting held on the 10
th day of December, 2024; motioned by Councilmember
__________, seconded by Councilmember __________, and upon roll call was carried by the following City Council vote of ______:

AYES:

NAYS:

ABSENT:

ABSTAINED:

ATTEST: APPROVED:
________________________________ __________________________ Gabriela Hernandez, CMC Rachel Hernandez
City Clerk Mayor
Attachments:

Exhibit A: FY 2023-2024 Annual AB 1600 Report of System Development Fee Activity FY 2023-2024
ANNUAL AB 1600

REPORT OF SYSTEM DEVELOPMENT FEE ACTIVITY

CITY OF RIVERBANK

EXHIBIT A
CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600

TABLE OF CONTENTS
Letter of Transmittal………………………………………………………………………………………………………………………………………………3 Legal Requirements……………………………………………………………………………………………………………………….………………………5 Description of Active System Development Fees…………………………………………………………………………………………………7 System Development Fee Reports
System Development Bridges/Roads Fund 140…………………………………………………………….…… …… ….…… 10 System Development Overpasses Fund 145……………………………………………………………….………….……………12 System Development Railroad Crossing Fund 146……………………………………………………….……….…………….14 System Development Streets/Public Works Fund 205…………………………………………………..……….……………16 System Development Water Fund 206…………………………………………………………………………….…….…………….18 System Development Waste Water Fund 207…………………………………………………………………...….………….…20 System Development Storm Drainage Fund 208……………………………………………………………….….…………….22 System Development Parks & Recreation Fund 209………………………………………………………….….…………….24 System Development Police & General Government Fund 210………………………………………….….……………26 System Development Crossroads Streets/Public Works Fund 214…………………………………….….……………28 System Development Crossroads Storm Drainage Fund 217………………………………………………………………30 System Development Crossroads Police & General Government Fund 219…………..……….……………….…32

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CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600

LETTER OF TRANSMITTAL
1) To provide an adequate and constant method for the financing of the unfunded portion of needed systems development costs throughout the city, reasonably related to projected community growth. 2) To promote the orderly and efficient expansion of public improvements to adequately meet the domestic and economic needs of the community and to minimize adverse fiscal and environmental impacts of new development.
3) To insure the continuation of necessary services including, but not limited to, police and general administrative services.
4) To establish equitable methods for minimizing public facility and service costs to the city associated with new development.

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October 24, 2024
The Honorable Mayor, Members of the City Council, and Residents of the City Riverbank City of Riverbank
Riverbank, CA 95367
Dear Mayor, Members of the City Council, and Residents of the City of Riverbank:

California Government Code requires reporting of the usage of Development Fees (also known as System Development Fees). Therefore, in accordance with the provisions of the State of California and Government Code Section 66006(b) and 66001(d), as amended by AB 518 and SB 1693, I hereby submit the Annual AB 1600 System Development Fee Report for the City of Riverbank, CA for the fiscal year ended June 30, 2024.

Development Fees, otherwise known as System Development Fees (SDF), are a monetary exaction, other than a tax or special assessment, which is charged by a local governmental agency to an applicant in connection with approval of a development project. The purpose of these fees is to defray all or a portion of the cost of public facilities related to the development project. The legal requirements for enactment of a system development fee program are set forth in Government Code section’s 66000-66025 (the “Mitigation Fee Act”), the bulk of which was adopted as 1987’s Assembly Bill (AB) 1600 and those are commonly referred to as “AB 1600” requirements.

The System Development Fee program has been in effect in Riverbank since 1967. Riverbank Municipal Code §150.30, titled “System Development Fees”, establishes the authority for imposing and charging system development fees. §150.31 (b) of the Municipal Code states the following as reasons for adopting said fee:

CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600
Fees are collected at the time a building permit is issued; unless a developer, through a development agreement, is allowed to defer payment until a certificate of occupancy is granted, for the purpose of mitigating the impacts caused by new development on certain public facilities. They are used to finance the acquisition, construction and improvement of public facilities needed as a result of this new development. A separate fund has been established to account for the impact of new development on each of the following types of public facilities: Streets/Public Works, Water, Waste Water, Storm Drainage, Parks/Recreation, and Police/General Government.

State law requires the City prepare and make available to the public an annual report for each fund established to account for System Development fees. The report must include the beginning and ending balances by system development type for the fiscal year as well as any changes. The report must also present the amount of fees, interest, and other income, expenditures and the amount of any required refunds made during the fiscal year.

The City Council must review the annual report at a regularly scheduled public meeting not less than fifteen days after the information is made available to the public. This report was filed with the City Clerk’s office and available for public review on October 24, 2024.

Respectfully submitted,
Tammy Alcantor
Tammy Alcantor
Assistant City Manager

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CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600

LEGAL REQUIREMENTS
A. REQUIREMENTS FOR SYSTEM DEVELOPMENT FEES
State law (California Government Code Section 66006) requires each local agency that imposes AB 1600 system development fees to prepare an annual report providing specific information about those fees.

Within the AB 1600 legal requirements, it stipulates that fees imposed on new development have the proper nexus to any project on which they are imposed. In addition, AB 1600 imposes certain accounting and reporting requirements with respect to the fees collected. The fees, for accounting purposes, must be segregated from the general funds of the city and from other funds or accounts containing fees collected for other improvements. Interest on each development fee fund or account must be credited to that fund or account and used only for the purposes for which the fees were collected.

Current California Government Code Section 66006(b) requires that for each separate fund the local agency shall, within 180 days after the last day of each fiscal year, make available to the public the following information for the fiscal year:
• A brief description of the type of fee in the account or fund. • The amount of the fee.
• The beginning and ending balance of the account or fund. • The amount of the fees collected and interest earned. • An identification of each public improvement on which fees were expended and the amount of expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees.
• An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement.
• A description of each inter-fund transfer or loan made from the account or fund, including the public improvement on which the transferred or loaned fees will be expended, and in the case of an inter-fund loan, the date on which the loan will be repaid and the rate of interest that the account or fund will receive on the loan.
• The amount of refunds made due to sufficient funds being collected to complete financing on incomplete public improvements, and the amount of reallocation of funds made due to administrative costs of refunding unexpended revenues exceeded the amount to be refunded.

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CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600

LEGAL REQUIREMENTS
California Government Code Section 66001(d) requires the local agency make all of the following findings every fifth year with respect to that portion of the account remaining unexpended, whether committed or uncommitted:
• Identify the purpose to which the fee is to be put.
• Demonstrate a reasonable relationship between the fee and the purpose for which it is charged. • Identify all sources and amounts of funding anticipated to complete financing on incomplete improvements.
• Designate the approximate dates on which the funding is expected to be deposited into the appropriate account or fund.
• In any action imposing a fee as a condition of approval of a development project by a local agency, the local agency shall determine how there is a reasonable relationship between the amount of the fee and the cost of the public facility or portion of the public facility attributable to the development on which the fee is imposed.

B. ADDITIONAL NOTES
The State of California Government Code Section 66002 requires local agencies that have developed a fee program to adopt a Capital Improvement Plan (CIP) indicating the approximate location, size and timing of projects, plus an estimate for the cost of all facilities or improvements to be financed by fees. A formal CIP is recommended, at a minimum, as a five-year plan. The City annually produces a five-year CIP which helps to maintain and update the City’s General Plan. The CIP serves to identify situations where infrastructure is needed to accommodate the planned development.

The CIP relates the City’s annual capital expenditures to a long-range plan for public improvements. By relating the plan for public improvements to the City’s capacity for funding, and scheduling expenditures over a period of years, the CIP helps to maximize the funds available. This type of fiscal management is important during periods, such as the current one, that are typified by budgetary demands exceeding financial resources.

C. ESTABLISHING A REASONABLE RELATIONSHIP BETWEEN THE FEE AND THE PURPOSE FOR WHICH IT IS CHARGED The City of Riverbank’s current program, the City of Riverbank Nexus Fee Study, was adopted March 24, 2015. The program sets forth the relationship between contemplated future development, facilities needed to serve future development and the estimated costs of those improvements based on the current General Plan for build-out.

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CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600

LEGAL REQUIREMENTS
The City’s CIP projects are financed in part by the capital improvement fees outlined in the System Development fee program. The City’s capital improvements provide infrastructure to the residents and businesses in Riverbank in order to keep pace with ongoing development in, and adjacent to, the community. Estimated project costs and, the summary of fee apportionment to each development fee type, are detailed within Section 4 of the Nexus Fee Study.

D. FUNDING OF INFRASTRUCTURE
The 2022-2027 CIP identifies all funding sources and amounts for individual projects through 2027.

The CIP is updated annually to reflect the current infrastructure & equipment needs of the City. As a CIP project is identified, the project is evaluated to determine the portion of the project that will service existing residents and businesses versus new development. Once the determination of use is made, the percentage of use attributable to new development is then funded by the appropriate development fee, based on the type of project. The percentage of use associated with existing residents or business are funded from other appropriate sources as identified on the CIP. All future planned infrastructure needs are outlined in the System Development Fee program. The funding and commencement dates for projects are adjusted, as needed, to reflect the needs of the community.

DESCRIPTION OF ACTIVE SYSTEM DEVELOPMENT FEES
Transportation Improvement Fee – Formerly known as Streets/Public Works. The purpose of this fee is to finance the improvements needed for the street and traffic safety needs of the citizens.

Water Fee - The purpose of this fee is to finance the water improvements needed for the citizens.

Waste Water Fee - The purpose of this fee is to finance the waste water improvements needed for the citizens.

Storm Drainage Fee - The purpose of this fee is to finance the storm drain improvements needed for the citizens.

Parks & Recreation Fee - The purpose of this fee is to finance the park improvements needed for the citizens.

Police & General Government - The purpose of this fee is to finance the public safety and general government improvements needed for the citizens.

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CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600

Page 8 ends

CITY OF RIVERBANK FISCAL YEAR 2023-2024 AB 1600

SYSTEM DEVELOPMENT

FEE REPORTS

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For Purposes of compliance with Government Code Section 66006 (b) (1), the following information regarding AB 1600 fees is presented:
(A) A brief description of the type of fee in the account or fund:
(B) The Amount of the current System Development Fee:

This System Development Fee is no longer actively collecting revenue. (C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

See Attached Financial Report
(F) An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete the financing on an incomplete public improvement, as identified in paragraph (2) of subdivision (a) of Section 66001, and the public This Fund is now inactive and no new revenues are anticipated. Existing funds will be allocated towards future ADA Projects.
including the public improvement on which the transferred or loaned fees will be expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan.

No interfund transfers or loans were made during the 2023-24 fiscal year. (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any No refunds were made during the fiscal year.

System Development Bridges/Roads Fund - The purpose of this fee was to finance the construction of bridges and roads and improvements needed to maintain traffic movement and safety on City streets. These fees provide the above described project funding to accommodate traffic generated by future development within the City.

Fund 140
System Development Bridges/Roads Fund

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FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 35,090.76 35,673.66 35,835.00 35,946.05 36,624.03 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 0.00 0.00 0.00 0.00 0.00
Interest 582.90 161.34 111.05 677.98 1234.67
Total Revenues 582.90 161.34 111.05 677.98 1,234.67
Expenditures
Projects 0.00 0.00 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Administration 0.00 0.00 0.00 0.00 0.00
Total Expenditures 0.00 0.00 0.00 0.00 0.00
Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 35,673.66 35,835.00 35,946.05 36,624.03 37,858.70 Total Activity
Cost
% Funded
with Fee
Fund 140
Total
Fund 140
System Development Bridges/Roads Fund
No Activity Noted.

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This System Development Fee is no longer actively collecting revenue. (C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

See Attached Financial Report
(F) An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete the financing on an incomplete public improvement, as identified in paragraph (2) of subdivision (a) of Section 66001, and the public No Projects are anticipated at this time. Additional funding for the second crossing is being collected via the Streets/Public Works System Development Fee. including the public improvement on which the transferred or loaned fees will be expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan.

No interfund transfers or loans were made during the 2023-24 fiscal year. (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any No refunds were made during the fiscal year.

System Development Overpasses Fund - The purpose of this fee was to finance the construction and improvements needed to provide a second crossing over the railroad tracks at Kentucky Ave. These fees provide the above described project funding to accommodate the needs generated by future development within the City. Council has determined that a second crossing at Kentucky is no longer feasible, therefore the funds have been re-allocated to a second crossing at Santa Fe Street.

Fund 145
System Development Overpasses Fund

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FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 184,771.04 188,600.59 189,660.55 190,390.10 194,844.40 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 0.00 0.00 0.00 0.00 0.00
Interest 3,829.55 1,059.96 729.55 4,454.30 8,111.73
Total Revenues 3,829.55 1,059.96 729.55 4,454.30 8,111.73 Expenditures
Projects 0.00 0.00 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Administration 0.00 0.00 0.00 0.00 0.00
Total Expenditures 0.00 0.00 0.00 0.00 0.00
Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 188,600.59 189,660.55 190,390.10 194,844.40 202,956.13 Total
Activity
Cost
% Funded
with Fee
Fund 145
Total
Fund 145
System Development Overpasses Fund
No Activity Noted.

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This System Development Fee is no longer actively collecting revenue. (C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

See Attached Financial Report
(F) An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete the financing on an incomplete public improvement, as identified in paragraph (2) of subdivision (a) of Section 66001, and the public Funds have been appropriated towards the Patterson/Roselle Traffic Signal Project. (G) A description of each interfund transfer or loan made from the account or fund, expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan. (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any allocation pursuant to subdivision (f) of Section 66001.

No refunds were made during the fiscal year.

System Development Railroad Crossing Fund - The purpose of this fee was to finance the improvements needed for the railroad crossing safety needs of the citizens. These fees provide the above described project funding to accommodate needs generated by future development within the City.

System Development Railroad Crossing Fund
Fund 146

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FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 398.89 398.89 398.89 398.89 398.89 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 0.00 0.00 0.00 0.00 0.00
Interest 0.00 0.00 0.00 0.00 0.00
Total Revenues 0.00 0.00 0.00 0.00 0.00
Expenditures
Projects 0.00 0.00 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Administration 0.00 0.00 0.00 0.00 0.00
Total Expenditures 0.00 0.00 0.00 0.00 0.00
Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 398.89 398.89 398.89 398.89 398.89
Total Activity
Cost
% Funded
with Fee
Fund 146
Total
Fund 146
System Development Railroad Crossing Fund
No Activity Noted.

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Land Use Dev. Unit* Fee Per Unit
DW $4,983
DW $4,186
DW $3,688
DW $3,139
DW $4,983
Sq. Ft $7.81
Sq. Ft $8.12
Sq. Ft $8.08
Sq. Ft $4.92
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

See Attached Financial Report
(E) An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees. (F) An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds as identified in paragraph (2) of subdivision (a) of Section 66001, and the public improvement remains incomplete.

Oakdale Rd Improvements - MID Canal to North of Westgate 1/1/2026 Signal Patterson @ Roselle/Ped Crossing 2025/2026
Roselle & Morrill Intersection Improvements 2025/2026
RR Xing - & Intersection Improvements First near Patterson 2026/2027 RR Xing Improvements Third Street near Patterson 2027/2028 RR Xing Improvements Eighth Street near Patterson 2027/2028 RR Xing Improvements near Terminal Ave. 2027/2028
(G) A description of each interfund transfer or loan made from the account or fund, expended, and in the case of an interfund loan, the date on whch the loan will be The Sewer Fund borrowed $608,542.57 from the Streets/PW System Development Fee Fund in accordance with Resolution 2011-021. The Sewer Fund paid $72,760.45 FY 2023-24 towards this loan.

An interfund transfer of $23,457.99 was made to the General Fund for Management Fee expenses.
(H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any allocation pursuant to subdivision (f) of Section 66001.

No refunds were made during the fiscal year.

System Development Streets/Public Works Fund - The purpose of this fee is to finance the improvements needed for the traffic safety needs of the citizens. These fees provide the above described project funding to accommodate needs generated by future development within the City.

Clustered Rural (RR)
Lower Density (LDR)
Fund 205
System Development Streets/Public Works
Community Commercial (CC)
Mixed Use Commercial (MU)
Office
Transportation Improvements
Medium Density (MDR)
Highter Density (HDR)
Mixed Use (MU)
Industrial/Business Park

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FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 3,262,224.33 3,399,543.54 3,559,249.16 3,612,875.40 3,360,142.46 Adjust Beg. Balance
Per Auditors 37,435.84 42,668.61 -8,732.65 -61,475.89 28,830.51 Revenues
Developer Fees 35,810.53 97,137.88 320,825.53 50,093.96 564,730.73 Interest 49,192.42 30,080.29 21,564.46 38,096.25 71,009.81 Loan Repayment 71,319.99 71,677.41 72,036.62 72,397.63 72,760.45 Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Revenues 156,322.94 198,895.58 414,426.61 160,587.84 708,500.99 Expenditures
Projects 30,022.00 52,625.00 328,540.00 327,445.23 599,619.67 Miscellaneous 0.00 5.65 0.00 0.00 0.00
Administration 0.00 0.00 0.00 0.00 0.00
Total Expenditures 30,022.00 52,630.65 328,540.00 327,445.23 599,619.67 Transfers In/(Out) -26,417.57 -29,227.92 -23,527.72 -24,399.66 -27,457.99 Ending Fund Balance 3,399,543.54 3,559,249.16 3,612,875.40 3,360,142.46 3,470,396.30 *Revised
Total Activity
Cost
% Funded with
Fee
Fund 205
Total
FY 2017-18 Activity
Patterson & Roselle Traffic Signal 1,849,541.00 0.4% 7,758.58 Claribel & Roselle Traffic Signal 2,387,815.00 8.3% 198,851.64 FY 2019-20 Activity
Patterson & Roselle Traffic Signal 1,849,541.00 1.6% 30,022.00 FY 2020-21 Activity
Oakdale Rd-Morrill to Westgate 267,700.00 19.7% 52,625.00 FY 2021-22 Activity
Oakdale Rd-MID Canal to Northerly limits 1,904,914.00 17.2% 328,540.00 FY 2022-23 Activity
Oakdale Rd-MID Canal to Northerly limits 1,904,914.00 17.2% 327,445.23 FY 2023-24 Activity
Oakdale Rd-MID Canal to Northerly limits 2,231,030.15 16.6% 370,769.14 Oakdale Rd-Morrill to Westgate 400,000.00 12.0% 47,827.42 Claus Road Improvements Developer Reimbursement 183,000.00 98.9% 181,023.11 Fund 205
System Development Streets/Public Works

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Land Use Dev. Unit* Fee Per Unit
DW $18,927
DW $9,858
DW $9,463
DW $6,861
DW $6,861
Sq. Ft $2.90
Sq. Ft $2.92
Sq. Ft $2.89
Sq. Ft $2.85
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

Test Well #13 Completed 6/30/2024
Land for future Well #13 3/1/2025
including the public improvement on which the transferred or loaned fees will be expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan.

No interfund transfers or loans were made during the 2023-24 fiscal year. (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any No refunds were made during the fiscal year.

Fund 206
System Development Water
Highter Density (HDR)
Office
System Development Water Fund - The purpose of this fee is to finance the water improvements needed for the citizens. These fees provide the above described project funding to accommodate needs generated by future development within the City.

Clustered Rural (RR)
Lower Density (LDR)
Medium Density (MDR)
Mixed Use (MU)
Community Commercial (CC)
Mixed Use Commercial (MU)
Industrial/Business Park

Page 18 ends

FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 598,413.61 193,332.74 328,795.37 879,312.00 981,226.76 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 69,676.84 163,227.99 549,659.45 98,149.78 933,098.85 Interest 4,460.29 1,241.96 857.18 5,175.98 9,425.98
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Revenues 74,137.13 164,469.95 550,516.63 103,325.76 942,524.83 Expenditures
Projects 479,218.00 29,007.32 0.00 1,411.00 235,347.21
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Administration 0.00 0.00 0.00 0.00 0.00
Total Expenditures 479,218.00 29,007.32 0.00 1,411.00 235,347.21 Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 193,332.74 328,795.37 879,312.00 981,226.76 1,688,404.38 Total Activity
Cost
% Funded
with Fee
Fund 206
Total
FY 2017-18 Activity
FY 2019-20 Activity
Well #12 Developer Reimbursement 2,175,000.00 22.0% 479,218.00 FY 2020-21 Activity
Well #12 Developer Reimbursement 2,175,000.00 1.3% 29,007.32 FY 2021-22 Activity
Well #12 Developer Reimbursement 2,175,000.00 0.0% 0.00 FY 2022-23 Activity
Well #13 Test Well 400,000.00 0.4% 1,411.00
FY 2023-24 Activity
Well #13 Test Well Completed 400,000.00 58.8% 235,347.21 Fund 206
System Development Water

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For purposes of compliance with Government Code Section 66006 (b) (1), the following information regarding AB 1600 fees is presented:
(A) A brief description of the type of fee in the account or fund:
(B) The amount of the current System Development Fee:

Land Use Dev. Unit* Fee Per Unit
DW $7,050
DW $4,298
DW $3,591
DW $4,408
DW $1,334
Sq. Ft $2.32
Sq. Ft $2.33
Sq. Ft $1.97
Sq. Ft $1.82
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

There are currently no projects anticipated.
including the public improvement on which the transferred or loaned fees will be expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan.

No interfund transfers or loans were made during the 2023-24 fiscal year. (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any No refunds were made during the fiscal year.

Fund 207
System Development Waste Water
Industrial/Business Park
Office
System Development Waste Water Fund - The purpose of this fee is to finance the waste water improvements needed for the citizens. These fees provide the above described project funding to accommodate needs generated by future development within the City.

Clustered Rural (RR)
Lower Density (LDR)
Medium Density (MDR)
Highter Density (HDR)
Mixed Use (MU)
Community Commercial (CC)
Mixed Use Commercial (MU)

Page 20 ends

FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 851,301.98 685,837.61 598,825.21 -77,333.90 -55,384.01 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 31,392.79 85,559.01 66,912.39 18,762.04 314,625.79 Interest 3,763.84 1,041.78 717.03 4,377.85 7,972.53
Total Revenues 35,156.63 86,600.79 67,629.42 23,139.89 322,598.32 Expenditures
Projects 200,621.00 173,613.19 743,788.53 1,190.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 0.00
Loan Payment 0.00 0.00 0.00 0.00 0.00
Total Expenditures 200,621.00 173,613.19 743,788.53 1,190.00 0.00 Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 685,837.61 598,825.21 -77,333.90 -55,384.01 267,214.31 Total Activity
Cost
% Funded
with Fee
Fund 207
Total
FY 2019-20 Activity
California Sewer Line Extension 200,621.00 100.0% 200,621.00 Roselle/Crawford Sewer Project 600,000.00 28.9% 173,613.19 FY 2021-22 Activity
Roselle/Crawford Sewer Project 750,000.00 99.2% 743,788.53 FY 2022-23 Activity
Roselle/Crawford Sewer Project 750,000.00 0.2% 1,190.00 FY 2023-24 Activity
No Activity Noted.

Fund 207
System Development Waste Water

Page 21 ends

Land Use Dev. Unit* Fee Per Unit
DW $10,711
DW $9,714
DW $3,921
DW $4,426
DW $2,864
Sq. Ft $5.97
Sq. Ft $5.93
Sq. Ft $5.84
Sq. Ft $5.72
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

Storm Drain Outfall Improvements Candlewood 2027/2028
Study of Eighth Street Storm Drain System 2025/2026
First Street Basin Reconstruction/Improvements 2026/2028 Connect OID Snedigar Pipeline to Storm Drain Unknown at this time. (G) A description of each interfund transfer or loan made from the account or fund, expended, and in the case of an interfund loan, the date on whch the loan will be (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any allocation pursuant to subdivision (f) of Section 66001.

No refunds were made during the fiscal year.

System Development Storm Drainage
Fund 208
Industrial/Business Park
Office
System Development Storm Drainage Fund - The purpose of this fee is to finance the storm drain improvements needed for the citizens. These fees provide the above described project funding to accommodate needs generated by future development within the City.

Clustered Rural (RR)
Lower Density (LDR)
Medium Density (MDR)
Highter Density (HDR)
Mixed Use (MU)
Community Commercial (CC)
Mixed Use Commercial (MU)

Page 22 ends

FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 852,668.47 987,678.72 1,172,927.92 1,737,013.33 1,819,876.49 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 129,578.89 183,745.44 563,050.28 76,546.44 288,523.84 Interest 5,431.36 1,503.76 1,035.13 6,316.72 11,503.42
Total Revenues 135,010.25 185,249.20 564,085.41 82,863.16 300,027.26 Expenditures
Projects 0.00 0.00 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Expenditures 0.00 0.00 0.00 0.00 0.00
Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 987,678.72 1,172,927.92 1,737,013.33 1,819,876.49 2,119,903.75 Total Activity
Cost
% Funded
with Fee
Fund 208
Total
Fund 208
System Development Storm Drainage
No Activity Noted.

Page 23 ends

Land Use Dev. Unit* Fee Per Unit
DW $4,830
DW $5,490
DW $4,705
DW $3,921
DW $3,422
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

Future neighborhood Parks
including the public improvement on which the transferred or loaned fees will be expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan.

No interfund transfers or loans were made during the 2023-24 fiscal year. (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any System Development Parks & Recreation
Fund 209
System Development Parks & Recreation Fund - The purpose of this fee is to finance the park improvements needed for the citizens. These fees provide the above described project funding to accommodate needs generated by future development within the City.

Clustered Rural (RR)
Lower Density (LDR)
Medium Density (MDR)
Highter Density (HDR)
Mixed Use (MU)

Page 24 ends

FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 824,795.77 804,152.71 867,908.18 728,622.75 788,462.52 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 81,419.96 84,816.48 303,675.78 57,644.66 288,094.55 Interest 1,067.24 317.73 225.83 2,195.11 1,205.38
Grant 0.00 0.00 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Revenues 82,487.20 85,134.21 303,901.61 59,839.77 289,299.93 Expenditures
Projects 103,130.26 21,378.74 443,187.04 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Expenditures 103,130.26 21,378.74 443,187.04 0.00 0.00 Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 804,152.71 867,908.18 728,622.75 788,462.52 1,077,762.45 Total Activity
Cost
% Funded
with Fee Fund 209 Total
FY 2016-17 Activity
FY 2019-20 Activity
Park Master Plan 116,000.00 74.7% 86,671.26
FY 2020-21 Activity
FY 2021-22 Activity
FY 2022-23 Activity
FY 2023-24 Activity
No Activity Noted.

No Activity Noted.

Fund 209
System Development Parks & Recreation
No Activity Noted.

Page 25 ends

Land Use Dev. Unit* Fee Per Unit
DW $1,749
DW $1,988
DW $1,702
DW $1,418
DW $1,239
Sq. Ft $0.52
Sq. Ft $0.52
Sq. Ft $0.38
Sq. Ft $0.72
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

Future Expansion/New Location - City Hall
(G) A description of each interfund transfer or loan made from the account or fund, expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan. allocation pursuant to subdivision (f) of Section 66001.

No refunds were made during the fiscal year.

Fund 210
System Development Police & General Government
Industrial/Business Park
Office
System Development Police & General Government Fund - The purpose of this fee is to finance the public safety and general government improvements needed for the citizens. These fees provide the above described project funding to accommodate needs generated by future development within the City.

Clustered Rural (RR)
Lower Density (LDR)
Medium Density (MDR)
Highter Density (HDR)
Mixed Use (MU)
Community Commercial (CC)
Mixed Use Commercial (MU)

Page 26 ends

FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 454,190.97 373,277.39 399,071.06 565,792.40 654,940.21 Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 31,123.18 34,114.01 166,709.36 89,147.81 146,970.89 Interest 13.05 13.01 11.98 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Revenues 31,136.23 34,127.02 166,721.34 89,147.81 146,970.89 Expenditures
Projects 112,049.81 8,333.35 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Expenditures 112,049.81 8,333.35 0.00 0.00 0.00
Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 373,277.39 399,071.06 565,792.40 654,940.21 801,911.10 Total Activity
Cost
% Funded
with Fee
Fund 210
Total
FY 2017-18 Activity
Animal Control Transportation Unit 18,966.00 100.0% 18,966.00 Spatial Analysis 110,000.00 21.3% 23,448.68
Vehicle - Parks Department 33,025.12 100.0% 33,025.12
Animal Control Vehicle - Payment #1 20,000.00 100.0% 20,000.00 FY 2019-20 Activity
Spatial Analysis 110,000.00 84.3% 92,755.02
FY 2020-21 Activity
FY 2021-22 Activity
FY 2022-23 Activity
FY 2023-24 Activity
No Activity Noted.

No Activity Noted.

Fund 210
System Development Police & General Government

Page 27 ends

Dev. Unit* Fee Per Unit
DW $1,899
DW $1,899
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

See Attached Financial Report
improvement will commence if the local agency determines that sufficient funds have been collected to complete the financing on an incomplete public improvement, as identified in paragraph (2) of subdivision (a) of Section 66001, and the public improvement remains incomplete.

There are currently no projects anticipated.
(G) A description of each interfund transfer or loan made from the account or fund, expended, and in the case of an interfund loan, the date on whch the loan will be repaid and the rate of interest that the account or fund will receive on the loan. (H) The amount of refunds made pursuant to subdivision (e) Section 66001 and any allocation pursuant to subdivision (f) of Section 66001.

No refunds were made during the fiscal year.

Fund 214
System Development Crossroads Streets/Public Works
System Development Crossroads Streets/Public Works Fund - The purpose of this fee was to finance the Streets and Public Works improvements needed for the Crossroads Subdivision. These fees provide the above described project funding to accommodate needs generated by the future development within this area.

Residential - Single Family
Residential - Multi Family

Page 28 ends

FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 0.00 0.00 0.00 0.00 0.00
Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 0.00 0.00 0.00 0.00 0.00
Interest 0.00 0.00 0.00 0.00 0.00
Total Revenues 0.00 0.00 0.00 0.00 0.00
Expenditures
Projects 0.00 0.00 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Expenditures 0.00 0.00 0.00 0.00 0.00
Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 0.00 0.00 0.00 0.00 0.00
Total Activity
Cost
% Funded
with Fee
Fund 214
Total
Fund 214
System Development Crossroads Streets/Public Works
No Activity Noted.

Page 29 ends

Dev. Unit* Fee Per Unit
DW $2,970
DW $2,121
* DW = Dwelling Unit; Sq. Ft. = Square Foot
(C) The Beginning & Ending Balance of the account or Fund.

See Attached Financial Report
(D) The amount of the fees collected and interest earned.

No refunds were made during the fiscal year.

System Development Crossroads Storm Drainage Fund - The purpose of this fee was to finance the Storm Drain infrastructure improvements needed for the Crossroads Subdivision. These fees provide the above described project funding to accommodate needs generated by the future development within this area.

Residential - Single Family
Residential - Multi Family
Fund 217
System Development Crossroads Storm Drain

Page 30 ends

FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Beginning Fund Balance 0.00 0.00 0.00 0.00 0.00
Adjust Beg. Balance
Per Auditors 0.00 0.00 0.00 0.00 0.00
Revenues
Developer Fees 0.00 0.00 0.00 0.00 0.00
Interest 0.00 0.00 0.00 0.00 0.00
Total Revenues 0.00 0.00 0.00 0.00 0.00
Expenditures
Projects 0.00 0.00 0.00 0.00 0.00
Miscellaneous 0.00 0.00 0.00 0.00 0.00
Total Expenditures 0.00 0.00 0.00 0.00 0.00
Transfers In/(Out) 0.00 0.00 0.00 0.00 0.00
Ending Fund Balance 0.00 0.00 0.00 0.00 0.00
Total
Activity Cost
% Funded
with Fee
Fund 217
Total
Fund 217
System Development Crossroads Storm Drainage
No Activity Noted.

Page 31 ends

Page 1 of 1 ends

Item 16.1 – CC/LRA – 12/10/2024

RIVERBANK CITY COUNCIL / LOCAL REDEVELOPMENT AUTHORITY
AGENDA ITEM NO. 16.2
SECTION 16: PUBLIC HEARING
Meeting Date: December 10, 2024
Subject: Resolution Ratifying the Adoption of Development Impact Fees Established by Stanislaus Consolidated Fire Protection District – Continuation of Public Hearing to a Date Certain of January 28, 2025
From: Marisela H. Garcia, City Manager

RECOMMENDATION
It is recommended that the City Council open the public hearing, take public comment, and entertain a motion to continue the public hearing to a date certain of January 28, 2025.

SUMMARY
On October 17 the Board of Directors of the Stanislaus Consolidated Fire Protection District (“District”) adopted Resolution 24-07 approving the Development Impact Fee Nexus Study and approving the study to be forwarded to the Cities of Riverbank and Waterford and the County of Stanislaus for adoption. A public notice was published for this item to be considered at tonight's meeting, but additional information has been requested from the District along with additional noticing requirements that must be complied with.

FINANCIAL IMPACT
There is no financial impact on the City.

ATTACHMENTS
None.

Page 1 of 4 ends

Item 17.1 – CC/LRA 12/10/2024

RIVERBANK CITY COUNCIL/ LOCAL REDEVELOPMENT AUTHORITY
AGENDA ITEM NO. 17.1
SECTION 17: NEW BUSINESS
Meeting Date: December 10, 2024
Subject: Resolution to Award a Contract for Banking and Merchant Services with JPMorgan Chase and Authorize the City Manager to Execute Said Contract
From: Marisela H. Garcia, City Manager
Submitted by: Tammy Alcantor, Assistant City Manager/Finance Director

RECOMMENDATION
It is recommended that the City Council authorize the award of a contract for banking and merchant services to JPMorgan Chase.

SUMMARY
In August 2024, the City of Riverbank issued a Request for Proposal (RFP) for both banking and merchant services. Proposals were received from four financial institutions:

F&M Bank, JPMorgan Chase, Oak Valley Bank, and WestAmerica Bank (incumbent).

After an extensive evaluation of services, technology, fees, and earning potential, staff recommendation is to award both contracts to JPMorgan based on its superior offerings and cost-effectiveness.

BACKGROUND
The City has relied on WestAmerica Bank for several years for banking and merchant services. While there was previously a branch within the City, it closed several years ago, creating logistical challenges for Finance staff. Although daily deposits are now handled by an armored service, occasional in-person transactions still require staff to travel to the nearest branch in Modesto. This trip typically takes 1 to 1.5 hours, including travel and transaction time, reducing overall efficiency. Staff recommends transitioning to a more local banking partner to improve time management and foster a stronger, more collaborative relationship with the banking institution.

The City initiated the RFP process to identify a banking partner that could minimize costs, improve operational efficiency, and maximize earnings while meeting its financial service requirements.

Page 2 of 4 ends

Item 17.1 – CC/LRA 12/10/2024
Key Elements of the RFP Process:

1. Scope of Services:
o Proposals were accepted for both depository and merchant services (either combined or separate).
o Required compliance with full depository service capabilities and the City's stated requirements.

2. Eligibility:
o Proposers had to be FDIC-insured and located within 7 miles of Riverbank City Hall.
o Demonstration of advanced technology and service capabilities was necessary.

3. Contract Terms:
o Initial five-year term (2025–2029), with a potential two-year extension. o Fixed fees during the initial term, with renegotiation allowed for any extensions.

4. Compliance:
o Adherence to California Government Code Sections 16520-16533 regarding collateral securities.
o The contract includes provisions for termination with a 90-day notice.

5. Objective:
o To select a partner offering high service levels, strong earnings, and low costs.

A consultant assisted the City in preparing the RFP and evaluating responses, ensuring a thorough and unbiased selection process.

BANKING SERVICES ANALYSIS
Each proposal was evaluated based on technology, services, and cost-effectiveness.

Service Scores:
• JPMorgan Chase: 526
• WestAmerica Bank: 476
• Oak Valley Bank: 428
• F&M Bank: 418
The materially higher score at JPMorgan Chase reflects its advanced technology and wider options within the services which can be expected from a wider customer base.

Key Findings:

1. Account Structure:
• JPMorgan offers an automated daily sweep into its U.S. Treasury Plus Money Market Mutual Funds, which currently yields 4.14%. This service includes a $100 monthly fee and a 0.25 basis point fee on daily sweep amounts. In comparison, other banks provide internal sweep options with lower yields.

Page 3 of 4 ends

Item 17.1 – CC/LRA 12/10/2024

2. Automation & Online Tools:
o JPMorgan provides customizable tools, advanced e-payables/ereceivables, and superior information retention. Other banks lack these features or restrict access controls.

3. Deposit & Disbursement Services:
o JPMorgan integrates advanced deposit tracking, same-day remote deposit balancing, and virtual card programs. Only JPMorgan and WestAmerica integrate with Xpress Bill Pay.

4. Fees
o Fee Basis vs. Compensating Balance: JPMorgan Chase is the only bank providing a fee-based structure with a true external sweep, offering the lowest estimated monthly cost of $2,167 and a 1.57% earnings credit allowance over the five-year contract. In comparison, other banks have monthly costs ranging from $2,429 to $3,178 and provide a lower earnings credit allowance.

5. Earnings Potential
o With an external sweep, JPMorgan Chase offers significantly higher earnings compared to other banks.

MERCHANT SERVICES ANALYSIS
Proposals for merchant services were scored on service quality, integration, and cost.

Service Scores:
• JPMorgan Chase: 375
• F&M Bank (Elavon): 359
• WestAmerica Bank (Fiserv): 306
• Oak Valley Bank (360Payments): 251
JPMorgan Chase’s score reflects its streamlined service integration, direct support, and comprehensive reporting features.

Key Findings:

1. Direct Processing:
o JPMorgan Chase offers seamless integration with its banking services through direct processing (Paymentech), unlike competitors relying on thirdparty processors.

2. Cost:
o While F&M Bank offers the lowest per-transaction fees, its higher monthly maintenance costs make JPMorgan Chase more cost-effective overall.

3. Support & Reporting:
o JPMorgan Chase provides 24/7 customer support, customizable reports, and robust PCI compliance tools.

Page 4 of 4 ends

Item 17.1 – CC/LRA 12/10/2024

4. Equipment & Training
o JPMorgan Chase offers comprehensive PCI compliance training and a full test environment for seamless implementation.

Awarding both the banking and merchant services contracts to JPMorgan Chase offers the City of Riverbank a unified, cost-effective, and technologically advanced solution. This decision aligns with the City’s goal of leveraging state-of-the-art financial technology while maximizing earnings and minimizing costs.

STRATEGIC PLAN
This recommendation supports the Strategic Plan goal to "Ensure Financial Stability" by leveraging advanced financial technology to enhance operational efficiency and earnings.

FINANCIAL IMPACT
Awarding the contract to JPMorgan Chase is expected to have a positive financial impact due to:
• Increased earnings from higher-yield money market sweeps. • Lower overall costs compared to other proposers.
• Advanced tools that streamline operations and reduce manual processes.

ATTACHMENT

1. JPMorgan Chase RFP Submittal

2. Resolution 2024-xx
Exhibit A: JPMorgan Chase Contract
Cover Letter | 1 |
●
September 23, 2024
Depository Banking Services and Merchant Services
Proposal for
City of Riverbank
ATTACHMENT 1
Cover Letter | 2 |

DELETE SECTION BREAK BELOW IF REMOVING DIMON QUOTE
“Throughout our history,
JPMorganChase has built its
reputation on being there for clients,
customers and communities in the most
critical times. This unprecedented
environment is no different. Our
actions during this global crisis are
essential to keeping the global
economy going and will be
remembered for years to come.”

JAMIE DIMON
Chairman and Chief Executive Officer
JPMorgan Chase & Co.

Table of Contents | i |
Table of Contents
COVER LETTER ....................................................................................................................................................... 1 EXECUTIVE SUMMARY........................................................................................................................................... 3 SOLUTION OVERVIEW.......................................................................................................................................... 10 IV. FINANCIAL INSTITUTION QUALIFICATIONS................................................................................................. 13

1. Creditworthiness ...............................................................................................................................................13

2. Customer Service..............................................................................................................................................15

3. References........................................................................................................................................................23

4. Depository Agreement and Service Agreements..............................................................................................24

5. Implementation timeline. ...................................................................................................................................25 V. REQUIRED BANKING SERVICES..................................................................................................................... 29

1. Consolidated Account Structure with Sweep Mechanism.................................................................................29

2. Automated Cash Management Information and Imaging..................................................................................34

3. Deposit and Collection Services .......................................................................................................................43 Remote Deposit Services......................................................................................................................................52

4. Standard Disbursing Services...........................................................................................................................55

5. Stop Payments..................................................................................................................................................65

6. Reconciliation and Positive Pay........................................................................................................................67

7. Funds Transfer and Wire Services....................................................................................................................73

8. ACH Services....................................................................................................................................................77

9. Safekeeping/Custody Services .........................................................................................................................85

10. Account Analysis.............................................................................................................................................85

11. Monthly Statements ........................................................................................................................................87

12. Account Executive...........................................................................................................................................90

13. Overdrafts .......................................................................................................................................................95 VI. REQUIRED MERCHANT SERVICES................................................................................................................ 97 REQUIRED MERCHANT SERVICES.................................................................................................................100 VII. OPTIONAL BANK SERVICES ....................................................................................................................... 112 Table of Contents | ii |

1. Company Banking...........................................................................................................................................112

1. Check Printing.................................................................................................................................................114 VIII. PROPOSED ADDITIONAL BANK SERVICES ............................................................................................. 115 ATTACHMENT A - PROPOSED FEES ................................................................................................................ 120 ATTACHMENT B MERCHANT SERVICES FEES .............................................................................................. 123 PROPOSAL MODIFICATIONS............................................................................................................................. 128 Appendices
Appendix 1: Business Resiliency Program Letter
Appendix 2: Sample Consolidated Service Terms and Deposit Account Agreement Appendix 3: California Security Agreement
Appendix 4: Sample Implementation Plan
Appendix 5: J.P. Morgan Access Sample Reports
Appendix 6: Cash Vault Services Product Guide
Appendix 7: Remote Deposit Capture Scanner Ordering Guide Appendix 8: Account Reconcilement Standard Input and Output Specifications Appendix 9: Cybersecurity Overview
Cover Letter | 1 |
Cover Letter
September 23, 2024
City of Riverbank
Administration Department
6707 Third Street
Riverbank, CA 95367
Dear City of Riverbank RFP Team:

We thank you for the opportunity to respond to the Request for Proposal for Comprehensive Banking Services (RFP) for the City of Riverbank (the City). You demand excellence and take the welfare of the people you serve seriously. We want to match those high standards and support your vision and mission.

Chase more than meets the qualifications requested in the City’s search for a new banking provider. Our Government Banking teams’ experience, industry leadership and history of innovation have set us apart from other banks offering similar services. Our response was prepared to confirm that we qualify to be your bank as well as:
● Provide a dedicated Government Banking Relationship Manager ● A competitive pricing structure
● Streamlining the banking process
● Ability to invest idle funds
● Work with the City to introduce enhancements, technology, cost and time savings and reduction in paper—going green!
The City will find that we distinguish ourselves through our dedication to the communities we serve. Soon we will have one local branch in the City of Riverbank, CA, to complement the seven branches in Stanislaus County that are able to meet your needs.

Thank you for giving us this special opportunity. It’s our pleasure getting to know you better through your RFP and preparing a response that addresses your questions. Our team would be privileged to develop a proactive working relationship with the City. We want and value your business and look forward to hearing from you soon. My full contact information is listed below for any questions regarding this proposal that will be valid for 180 days from submission.

We are excited to assist the City in evaluating how to optimize your current structure to a more streamlined approach. We share insights and perspectives to help your staff operate with optimal efficiency. Our solutions are deployed with a well-prepared strategy to help drive operational outcomes, enhance automation and lower staff time spent on manual processes.

As you read the following pages, we want you to feel confident that we’ve done our due diligence. This response outlines how a responsible and responsive provider like us delivers financial excellence by creating new solutions, transforming industries, embracing diversity and providing dedicated support.

Our seamless, cohesive approach to treasury management offers you an efficient, cutting-edge way of managing receivables, payables, liquidity and credit. We’ve also put levers in place to help make sure there are minimal disruptions to your operations in the event of an economic downturn.

Your dedicated Government Banking Relationship Manager, Eric Mouradian and his team remain by your side through thick and thin. They will periodically reassess the plan we create together so we can stay on target—doing our best to align our initiatives with your objectives. In addition, our goal is to introduce the City to our internal business partners such as Community Managers, Community Home Lending Advisors or Senior Business Consultants. Community Managers and Community Home Lending Advisors serve as local ambassadors to build and nurture relationships with residents, community leaders, real estate agents, and nonprofit organizations.

Senior Business Consultants offer free one-on-one mentorship, coaching, and technical assistance to Black, Hispanic and Latino business owners. Additional details can be found at https://media.chase.com/news/chaseexpands-community-branches-local-hiring.

Thank you for giving us this special opportunity. It’s our pleasure getting to know you better through your RFP and preparing a response that appropriately addresses your questions.

You have access to a strong and stable financial institution Our financial stability is demonstrated by statistics (as of June 30, 2024):
● $575.5 billion in market capitalization
● $2.4 trillion in deposits
● $1.32 trillion in loans
● $340 billion total stockholder equity
We also have Tier 1 capital Ratio and Total Capital Ratios of 16.7% and 18.5%, respectively; the ratios presented are calculated under the Basel III Fully Phased-In Approach.

Executive summary | 4 |
Have confidence that you’re working with an experienced relationship team Our Government Banking team is a specialized group of relationship managers dedicated to delivering solutions to state and local governments. We know the government sector intimately through our experience serving more than 2,100 government clients.

We make the onboarding process easy
We deliver tailored solutions that meet your needs and provide a dedicated resource to fully support your onboarding journey. We will:
● Develop a tailored implementation plan that fits the needs of your organization ● Work with you to understand each operating environment ● Collaborate with leadership to deploy a cohesive strategy ● Enhance your experience by acting on your feedback and making continuous improvement We’re invested in your success
Our mission is to support people, strengthen communities and advance local economies. We’re deeply dedicated to local growth and transformation while maintaining the richness and culture that’s so important to you.

Developing and advancing our communities – Impact through inclusivity Together, we’re working toward an equitable and inclusive culture for our employees and our business. We support programs and policies to help underserved communities succeed. We know that building a stronger, more inclusive economy that benefits everyone is good for people, business and society.

Diversity, equity & inclusion (DEI)
Diversity is imperative—and together, we are all accountable for our culture of respect and inclusion.

For additional information on our DEI initiatives, please go to:
https://www.jpmorganchase.com/about/people-culture/diversity-and-inclusion Executive summary | 5 |
Supporting vital institutions – government, healthcare and not-for-profit banking Government
We’ve been serving citizens and governments since our inception in 1799. We help governments innovate and make citizens’ lives easier by supporting clients with their operating business, treasury and payments, collecting various revenue sources and enabling lending and building capital projects.

In 2022, we reached a milestone in becoming the first national bank to have branches in all the lower 48 states and being able to accept government deposits in all 50 U.S. States. This multi-year effort highlights our continuing dedication to public sector entities and the citizens they serve.

Healthcare
We provide leading healthcare expertise, customized solutions and insights to help make sure our clients can focus on care. We have a long history of serving the healthcare industry – from not-for-profit hospitals and health systems to for-profit health services. We use our leading banking expertise, customized financial solutions and key insights to help navigate the evolving healthcare landscape, plan for the long-term and deliver critical care to communities.

Not-for-profit
For decades, we’ve served as an industry expert to not-for-profit clients, including organizations in service and advocacy, philanthropy, arts and culture and K-12 schools.

We invest in the economy: We provide capital to businesses, governments and nonprofit organizations in local markets. This is how we show our support:

Supporting California:

Purchased
$3.3 billion
in goods and services, 2022
$39.5 million
in Community Development
Support, 2019-2023
$146.7 million
in philanthropic contributions,
2019-2023
We invest in community: The strongest, most resilient communities are those with thriving educational systems, resources for people and businesses, and investments in infrastructure.

Our contribution to California
905+
branches
3,100
ATMs
17,800
Employees working
We invest in people: We’re supporting your residents in meaningful and sustainable ways. We’re creating opportunities for artists to beautify neighborhoods, for technologists to conduct research and development or for veterans to start businesses. We look forward to continuing to support the people of the City.

Executive summary | 6 |
We invest in technology: Our 2024 technology spend budget is $17 billion. This major commitment is your assurance that we are prepared and able to meet your needs and requirements during these turbulent economic conditions.

Take advantage of favorable pricing and controlled bank fees We are offering the City a competitive pricing structure:
● Account analysis earnings credit rate of 1.57% to offset fees ● Account Analysis Twelve (12) months of fee waiver
Please also refer to the pricing included in Attachment A.

We stay one-step ahead when it comes to Government Banking Our government-first focus means we’re dedicated to providing the industry with innovative financial solutions and personalized client service. Our first-hand knowledge and understanding of today’s challenges comes from having supported government agencies and authorities with critical activities ranging from planning and development to tax processing, utilities, finance, procurement, public safety and disaster relief. We remain responsive to change because of our:
● Expertise: We have institutional banking knowledge gained through our more than more than 2,100 public agency clients.
● Technology: Our tech innovations are funded by a technology budget of $17 billion that includes investments in cybersecurity.
● Service: Stay up to date through regular relationship reviews, training opportunities and discussions with your local team.
● One relationship: Leverage us to provide a broad assortment of services that can help reduce costs, improve services and better manage risks.
● Onboarding: Your experienced onboarding specialist will facilitate your implementation of new services and provide you with insights and project visibility.

Executive summary | 7 |
Why Chase
We understand you’re making a big decision whether to change banks or maintain status quo. We ask you to consider the following as you review our response:
● The people and the experience: Implementation and service should be nothing short of outstanding. The bank you choose should exceed your expectations in planning, operational accuracy, troubleshooting, communication, sense of urgency, care and kindness.
● Thought leadership: The bank you select should employ exceptional people in the industry who have the experience and expertise to apply best practices on a regular basis and keep you abreast of emerging technology and trends.
● New and different technology: You’re choosing a bank for its people and what the future holds. You enter a long-term strategic relationship and invest in that bank’s technology of the future. It’s important to understand your provider’s budget and roadmap. You should feel confident it has the resources and vision to stay ahead of rapidly changing technologies.
● Understanding of culture and vision: You deserve a highly experienced team of treasury experts that understands your needs, culture and vision for the future and the goals of each of your departments—both individually and as a whole.

Supporting the City at every step
We welcome the opportunity to discuss our recommendations, introduce our broader team and demonstrate our systems as we continue to collaborate closely with you throughout this effort.

With over 55 years of experience in the government sector and more than 2,100 government clients, we’re prepared to support you at any juncture—enhancing risk management, boosting efficiencies and improving constituent service.

We have the experience, the solutions and the people to effectively support your goals. We’re honored you have given us this opportunity and look forward to hearing your decision.

Our commitment
Our government expertise is
one of the many reasons
clients choose Chase Business
Banking.

We provide quality service,
make it easy to do business
with us and build long-lasting
relationships based on client
satisfaction.

Executive summary | 8 |
●
●
● New and different technology: You’re choosing a bank for its people and what the future holds. You enter a long-term strategic relationship and invest in that bank’s technology of the future. It’s important to understand your provider’s budget and roadmap. You should feel confident it has the resources and vision to stay ahead of rapidly changing technologies.
● Understanding of culture and vision: You deserve a highly experienced team of treasury experts that understands your needs, culture and vision for the future and the goals of each of your departments—both individually and as a whole.

We understand you’re working to achieve efficiency and create a bright future. We know it’s all in the details. By selecting us as your primary provider, you’re choosing a proven and dependable institution focused on aligning your objectives with solutions to exceed your goals.
[Conclusion: Briefly describe how our solution will be a success for the client—how we are solving their business needs. Tie back to win themes and value propositions.] In conclusion
We welcome the opportunity to discuss our recommendations, introduce our broader team and demonstrate our systems as we continue to collaborate closely with you throughout this effort.

We have the experience, the solutions and the people to effectively support your goals. We’re honored you have given us this opportunity and look forward to hearing your decision.

The integrity and quality you expect.

A proven commitment to exceptional service makes certain that what matters to you, matters to us.

Differences that matter
Executive summary | 9 |
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Solution
Overview
Solution overview | 10 |
Solution overview
The City is seeking a financial services provider that can provide industry-leading treasury products to help optimize cash flows and achieve operational efficiencies while providing high quality service. Our vision for your treasury services is aligned to meet your objectives. We can support your current account structure and associated services. We would also recommend the following.

We recommend our fraud prevention tools to the City. Your account should be setup with ACH Transaction Blocking with ACH Positive Pay and Payee Positive Pay.

The City should consider moving the paper checks to electronic payments by issuing ACH Payments or processing your vendor payments through your corporate card program.

We are thrilled the City would like to continue using Xpress Bill Pay which is processed through Chase Paymentech. No real changes will be required, we can simply update the settlement/processing account.

We offer flexible depository services to meet the City’s check and cash deposit needs. The City is welcome to use the local branch for deposits, however, for larger deposits we do recommend that cash deposits be delivered to our vault facilities. We have several vault locations to support your deposit needs. We recommend you contract with an armored carrier to pickup currency and deliver your deposits to our vault location.

For checks mailed to the City we recommend outsourcing your check collection process to a lockbox. You have the option to continue using your lockbox service through Xpress Bill Pay. Alternatively, you could consider using our lockbox service. We offer a full range of lockbox services that will allow you to streamline your remittance processing and accelerate your revenue stream with a fast, cost-efficient, around-the-clock lockbox solution. We own and operate our own full-service nationwide wholesale lockbox network of processing sites to offer fully automated wholesale and scannable wholesale lockbox services. We offer optimal availability, funds concentration and full information reporting. Receivables Online, our industry-leading internet-based receivables management solution, gives you a consolidated current-day and long-term view of check payments received at Chase lockbox sites.

Our wholesale lockbox service eliminates costly, labor-intensive and paper-based receivables processes. Our services also help you to reduce costs and expedite the crediting of deposits to your accounts, thereby improving your efficiency. Additional pricing for lockbox services is available upon request.

For checks delivered to the City office, parks and pools, we recommend using remote deposit capture. Remote Deposit Capture provides the City desktop scanning capabilities including the ability to capture checks and fullpage documents and deposit directly to your bank account.

Zero balance accounts (ZBA) allow the City to physically transfer and/or concentrate balances in one account to another account held in the same location. Cash concentration transfers are the last transaction of the business day. All excess cash is concentrated in the master account and provides for cover funding of overdraft positions in sub-accounts. The ZBA setup enables the feature known as check cashing, which facilitates check cashing against sub-accounts at the Chase retail branches.

The balances in the master account will receive an earnings credit that can be used to offset the cash management fees. We would be happy to review your account structure and look at investment options as needed.

Solution overview | 11 |
Account chart
Figure 1
Conclusion
We are confident that our product capabilities, personal service and public sector expertise are unmatched by our peers and position us to provide you with significant value today and in the future. In closing, we would like to express our strong interest and desire to provide the City with banking services. Our proposal is intended to demonstrate our capabilities and to illustrate that by selecting Chase, you are choosing a reliable and conscientious service provider. We have the experience, the products and the people to effectively and efficiently help manage your business, and we look forward to our relationship with the City.

Thank you for your consideration.

Solution overview | 12 |
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Qualifications
IV. FINANCIAL INSTITUTION QUALIFICATIONS | 13 |
IV. FINANCIAL INSTITUTION

QUALIFICATIONS

1. Creditworthiness
In order to fulfill the City’s fiduciary responsibility to protect public funds, each respondent submitting proposals shall provide the following in response to these questions. A local branch within Riverbank city limits is ideal for deposits of coin and currency. Each bank shall carry FDIC coverage.

We are in the process of opening a branch in the City of Riverbank and have seven additional branches within Stanislaus County. In the interim, the City can use the branch located at 2609 McHenry Avenue, Modesto, CA 95350. Deposits in Chase are insured by the FDIC as provided by law and regulation and fully collateralized.

Please see V. Required Banking Services, Section 3 Deposit and Collection Services for additional details regarding branch and vault deposits.
a. Provide a link to the most recent audited annual financial statement of the respondent. The respondent will be required to submit an audited statement to the City each year of the contract period, as soon as it is publicly available. Provide the link and confirm agreement to this requirement.

For the City’s convenience, we make our financial statements and other publicly filed documents available through our website: https://www.jpmorganchase.com/corporate/investor-relations/annual-reportproxy.htm. This link provides past and current JPMorgan Chase & Co. Annual Reports, which include audited financial statements.
b. Provide current certification and rating of the respondent’s Community Reinvestment Act (CRA) by its rating agency.

JPMorgan Chase Bank, N.A. is dedicated to the goals of the Community Reinvestment Act (CRA), and to community service.

On its most recent CRA exam conducted by the Comptroller of the Currency, the bank’s overall CRA performance was rated “Satisfactory.”
Office of the Comptroller of the Currency (OCC)
website
From the OCC website, you can search and find current and historical reports.

Select Search CRA Database by Bank Name. In the Bank Name field, enter JPMorgan Chase OR Charter Number 8 to view the report.

SUPPORTING COMMUNITIES
On its most recent federal Community
Reinvestment Act (CRA) performance
examination, JPMorgan Chase Bank,
N.A. earned the CRA rating of
Satisfactory
IV. FINANCIAL INSTITUTION QUALIFICATIONS | 14 |
https://occ.gov/topics/consumers-and-communities/cra/perfomance-evaluations-by-month/index-craratings-and-performance-evaluations.html c. Provide the most recent senior and subordinate debt ratings of the holding company or if not rated, the rating from an independent rating agency such as Highline, Veribanc, or comparable bank rating agency.

JPMorgan Chase Bank, N.A. Veribanc rating as of March 31, 2024, is Green/*. d. The bank must notify the City within thirty (30) days of any change in credit ratings during the contract period. Confirm agreement to this requirement.

We are routinely rated by industry experts Moody’s, Standard & Poor’s and Fitch. As evaluated by these credible industry experts, Chase has the financial stability to be the trusted banking services provider for the City.

Current credit ratings
We are routinely rated by industry experts Moody’s, Standard & Poor’s and Fitch. Ratings are shown below.

JPMorgan Chase Bank, N.A. credit ratings
as of July 15, 2024
Moody’s Standard & Poor’s Fitch
Long-term issuer rating Aa2 A+ AA
Short-term issuer rating P-1 A-1 F1+
Senior unsecured Aa2 A+ AA
Short-term P-1 A-1 F1+
Long-term domestic
deposits
Aa1 N/A AA+
Subordinated debt Aa3 A- A+
These credit ratings are provided for information purposes only. Credit ratings are solely the opinions of the rating agencies. Chase does not endorse, and accepts no responsibility for, the credit ratings issued by the rating agencies.

Credit ratings may be changed, superseded or withdrawn by the rating agencies at any time.

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 15 |

2. Customer Service
Service is a prime focus of the evaluation. The City is particularly interested in timely, responsive customer service on an ongoing basis. The City needs ongoing rapid service and dedicated support should emergency situations occur.
a. How does the bank anticipate satisfying the City’s need for customer service? We use a hybrid client service model, combining highly trained senior service specialists with an online, selfservice portal and access to our Payments Solution Center Access Support.

Platinum Business Service team
The Chase Platinum Business Service Center is available to assist the City with day-to-day banking and inquiries. Staffed with knowledgeable personnel, the service center team commits to delivering timely and efficient support.

Senior service specialists are available Monday through Friday from 5:00 a.m. to 9:00 p.m. PT.

J.P. Morgan Access for self-service
Transaction Services via J.P. Morgan Access is an internet-based, self-service tool that the City can use to streamline routine inquiries, communicate securely and receive timely support. Transaction Services enables you to initiate inquires and establish automated alerts for wire transfers as well as to access to transaction information.

Payments Solution Center Access support
Our Payments Solution Center Access Support team provides support to the City for J.P. Morgan Access related inquiries, which includes troubleshooting browser, software and scanner issues. They also assist with internet troubleshooting, password resets/unlocks, resolving error messages, etc.

Additionally, the City receives access to merchant-specific support through Merchant Services relationship managers, senior-level consultants and specialists, account and support teams. Merchant Services also provides 24/7/365 support through the Computer Operations Department, Network Command Center and Enterprise Contact Center.
b. How will the bank provide the City with local relationship support for its services? The Platinum Business Service team is an extension of your local Chase relationship team. Timely communication between the senior service specialists and your relationship manager, Eric Mouradian, allows the sharing of information and eliminates the need for Chase to repeat issues or concerns.

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 16 |
Our Payments Solution Center Access Support team provides support to the City for J.P. Morgan Access related inquiries, which includes troubleshooting browser, software and scanner issues. They also assist with internet troubleshooting, password resets/unlocks, resolving error messages, etc. The Access Support team offers extended hours of operation, from 5:00 p.m. PT on Sunday through 6:00 p.m. PT on Friday.

Additionally, our Transmissions team provides support for initiating file transfer or receiving reporting via Direct Transmissions. Specialized staff is available to assist with transmissions as follows:

Transmission support Hours of operations
ARP Monday through Friday, 5:00 am PT to 5:00 pm PT
EPOS/File Transmission Reporting Monday through Friday, 5:00 am PT to 3:00 pm PT Lockbox Monday through Friday, 5:00 am PT to 5:00 pm PT c. What services are provided by the holding company (non-local)? This is not applicable. All services are provided by JPMorgan Chase Bank, N.A. d. How, specifically, does the bank support the local
community as well as the City?
The bank plays a leadership role in its communities not only through our products, programs and extensive investments, but also by the involvement of employees in many community-based organizations and activities. JPMorgan Chase & Co.
(JPMorganChase) officers serve numerous organizations by providing expertise and technical assistance, as well as financial education.

JPMorganChase is also dedicated to assisting diverse suppliers in their economic growth and development through the Supplier Diversity initiative. JPMorganChase has long-standing relationships with diverse business development organizations. We are aggressive in our outreach to diverse businesses, proactive in engaging them with internal and external decision-makers, and strategic in our efforts to build capacity and nurture high potential entrepreneurs.

Supporting California
● We employ 17,000-plus California residents.

SUPPORTING COMMUNITIES
On the most recent federal Community
Reinvestment Act (CRA) performance
examination, Chase, earned the CRA
rating of Satisfactory
IV. FINANCIAL INSTITUTION QUALIFICATIONS | 17 |
● We have long supported economic development, affordable housing, support services, education and other community development initiatives by providing grants to not-for-profit organizations and financial intermediaries devoted to these areas. In addition, JPMorganChase has been a leader in designing and fostering innovative programs to meet the changing needs of its communities. In 2022, Chase provided $182.7 million in grants for community development purposes across all its CRA assessment areas and broader regional areas.
● We have a long tradition of market leadership in the area of mortgage lending, making innovative mortgage products available to meet the needs of all homebuyers. In 2022, Chase made over 163,000 mortgage loans totaling $92 billion across all its CRA assessment areas, of which over 30 percent were made to low- or moderate-income customers and 18 percent were made for homes located in low- or moderate-income communities.
● We are also a market leader in the area of small business lending, making available a full range of competitively priced products designed to meet the needs of small businesses and their owners. In 2022, Chase made over 1.35 million small business loans totaling more than $19 billion across all its CRA assessment areas, of which over 19 percent were made to businesses located in low- or moderate-income communities.
● JPMorganChase has distinguished itself as a national leader in community development lending and investing by providing financing for affordable housing and economic development projects in lowand moderate-income communities served by JPMorganChase. In 2022, we provided over $13.7 billion in community development loans and investments across our CRA assessment areas and broader regional areas.
e. Will representatives meet with the City regularly? How often? How will the bank communicate on banking issues, problems, or new products?
Upon completing contracts and reviewing your business processes, we meet on site with the City as frequently as necessary to develop a detailed statement of work and implementation plan. Once that is in place, we hold weekly meetings, some by phone or telepresence, others in person. Including all relevant stakeholders helps make sure our efforts result in successful transition.

Once your new services begin, we commit to meeting with you quarterly or more frequently as needed so that both the City and Chase are consistently aligned in our focus. Depending upon the agenda, we bring the appropriate key representatives from our product, operations, technology and client service teams to cover specific topics.

We look forward to discussing these typical agenda items with you • Innovative solutions
• Goals and objectives for the next year and over the lifetime of the contract • Special projects the City may be embarking upon
• Best practice recommendations
• Considering and implementing new products
• Review of industry trends (e.g., risk management, data security and fraud management, etc.) IV. FINANCIAL INSTITUTION QUALIFICATIONS | 18 |
We continually monitor information delivery goals to help achieve optimal availability. Our client and technical support teams notify the City regarding any delays and access difficulties.

If a prolonged outage occurs, broadcast messages estimate when service will be available via an Alert. Also, to minimize disruption, your relationship manager, Eric Mouradian, may update you regarding any delay.

Day to day requests
Our J.P. Morgan Access support team provides a general help desk as the first level of support for our online portal. If your call needs to be escalated, senior agents provide the second level of support, and the manager provides the third level. In addition, Access Support agents have the authority to escalate, as appropriate, any client issue to provide timely and accurate resolution. Our service centers are open to support your business requirements during and after normal business hours.

Our Platinum Business Service team can usually complete simple maintenance during the initial client call.

Inquiries requiring research and additional maintenance involving another internal group’s (i.e., Treasury) may take additional time depending upon the complexity of the issue.

In any case, be confident that the senior service specialist:
● Takes ownership
● Provides warm transfers to appropriate colleagues and subject matter experts ● Conducts follow-ups with you until the request is complete ● Communicates to you and Eric Mouradian once we resolve the issue Our goal is to resolve issues within 24 to 48 hours. To provide definitive solutions, certain requests may require additional time.
f. Is there a process for escalation of unresolved problems or issues in place? How will service and contract performance be monitored?
Senior service specialists have the authority to engage all levels of Business Banking management and escalate issues as needed. For each service we provide, service specialists maintain a detailed matrix of contacts and escalation procedures to expedite resolutions. These procedures also include internal service standards to make sure that other Chase groups are providing timely responses.

Performance monitoring
Client Service and Implementations use online-based surveys, IVR options and in-depth and in-person interviews to measure satisfaction with clients. Surveys are delivered via email to a sampling of clients who have recently implemented new Treasury Service products and/or had servicing interaction with the Platinum Business Service team.

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 19 |
● New Business Set-Up satisfaction is measured by the client’s satisfaction with the overall implementation experience and their likelihood to recommend the bank to others. We always ask for open-ended feedback.
 Clients may also receive a call by a manager during an implementation to check on their satisfaction in process. Issues identified during or after an implementation are reviewed internally during daily calls and in post-implementation internal reviews to identify best practices and future changes that may improve client's overall satisfaction. ● Client Service satisfaction is based on overall satisfaction ratings with the Platinum Business Service team and any open-ended feedback provided.
● Survey results are reviewed daily, and outbound calls are made by a manager to any survey participant who submitted a low score rating to resolve outstanding issues and understand all feedback in real-time.
● The Payments Solution Center Access Support team is also evaluated for customer satisfaction.  For the Access Support team, a survey is sent via an email to clients for a random sample of cases created from inbound client calls.
 The survey evaluates overall satisfaction with the interaction and provides an opportunity to include free form feedback.
 Survey results are published daily and used to track both departmental and individual agent performance. Outbound client calls are made by a manager to any survey participants who rated the overall service less than excellent or very good, or provided negative feedback.

These factors help us better identify the strengths and opportunities that drive the client’s overall satisfaction of the service we provide.
g. Are any new services in process which may impact the City? When are these planned to be available?
Today’s treasurers are faced with new challenges. We understand that there is a growing need for organizations to be connected, tools to be interactive and information to be immediate. Clients have new expectations for cash management services provided by their financial institutions – they need more efficient and lower cost solutions. That is why we continue to invest in our electronic banking solution, J.P. Morgan Access.

The key themes of simplification, visibility and customization drive our strategy to continue to improve J.P. Morgan Access through innovation.

J.P. Morgan Access innovations
Benefits to the
City
• Simplification
• Visibility
• Customization
IV. FINANCIAL INSTITUTION QUALIFICATIONS | 20 |
J.P. Morgan Access innovations
Recent
enhancements
• J.P. Morgan Access Manager for simple, self-service administration capabilities • J.P. Morgan Access Help Center redesigned and rewritten for all your how-to needs • File transmission capabilities allowing clients to:
 Monitor file transmissions, security keys and track upcoming expirations • Dashboard landing page with summary information, and quick links to key features • Quick and easy user setup process
• Integrated transactions and information capabilities
• Expanded payment status from the beneficiary bank and view payments initiated in all channels
• Implementation of soft token
• Integration of password and token management into Administration • Artificial Intelligence-powered virtual assistant
• Receivables visible on the centralized platform
• Implementation of WalkMe, providing users with personalized walkthroughs for a task on the same page they need to accomplish that task
Upcoming
developments
• Expansion and consolidation of payment types supported in a single initiation workflow As new features become available for you, we'll send you an alert through J.P. Morgan Access. Your security administrators and users will also receive a quarterly newsletter bundling announcements and enhancements that impact J.P. Morgan Access.
h. Is the bank offering any transition or retention incentives? Describe fully and quantify completely.

We are offering the following transition cost assistance:
● Account Analysis 12 month waiver
● Earnings Credit Rate (ECR) of 1.57% bps
i. What support will the bank be able to offer the City in a disaster situation to maintain stable banking functions? Focus on systems, telecommunications and power, and operational facilities.

The City’s Chase client service team would work closely with you to understand your requirements and to find an appropriate solution should you be unable to operate at your facilities. In that event, you would be able to use one of our electronic banking tools from your designated recovery location(s).

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 21 |
Preventative measures:

Chase’s business resiliency planning
Recovering from, or even avoiding a service disruption, whether a component failure or a full-scale disaster, depends on a comprehensive and effective contingency and business resiliency planning process combined with experienced people to execute the plan. Our business resiliency plans address all aspects of the business—including employees, facilities, systems, telecommunications, and third parties. Our business resiliency plans are living documents that we update on an ongoing basis to incorporate lessons learned. They are also tested regularly to validate the effectiveness and
completeness of the plans.

The preparation
We understand how critical it is to have a business resiliency program in place. When the news hits about potential disaster situations, such as a hurricane, our business resiliency planning program has already activated.

We do extensive planning to be ready for situations where our clients may lose critical infrastructure and resources necessary to transact business, including payroll and deposits, through typical channels.

Our preparation involves information gathering about our clients in the impacted region. This allows us to provide clients with alternative options for issuing checks, submitting payroll before a hurricane or other disaster event strikes the region. An overview of our Business Resiliency Program is included in Appendix 1.

Additional considerations are listed in the below section for helping you plan your organization’s business resiliency program.

Considerations when creating your business resiliency program We also recommend best practices for our clients’ internal business resiliency planning efforts, such as the following:
● Ensure your mobile information is updated with us, so we can contact you in the event that you are unable to
reach your offices.
● Plan for having sufficient cash on hand to be ready
when your business reopens.
● Ensure any services that are part of your business
resiliency planning program are setup in advance. For
example:
 Use J.P. Morgan Access to manually enter
transactions.

Planning for disasters
The importance of preparation
Our global footprint provides built-in
redundancy for many core processing,
operations and service delivery functions.

We have strategically located data
centers and operation centers throughout
the world. This geographic distribution
helps to reduce the impact of a local
disruption on our business.

We’re here to help!
The importance of preparation
In the event of a disaster, we strive to
maintain service at the levels established
during normal operations. We will work
hard to keep our clients informed
throughout the entire event.

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 22 |
 Submit same-day ACH files to originate transactions less than $1,000,000. Update “opt out” status, if applicable.
 Coin and currency
— When using vault, confirm armored courier contact information is up-to-date with your courier.
— When using night drop, consider alternative locations in case the primary location is not available.
 Commercial card clients may want to consider contacting your commercial card relationship manager or program manager for assistance with increasing limits, expanding merchant category code groups or verifying account status.

Please see our Business Resiliency Program Letter in Appendix 1. j. The City requires the right to use a third-party auditor to review the City’s accounts, collateral, transactions, and bank records at any reasonable time agreed to with the bank. Confirm agreement with this condition.

Chase acknowledges the City’s audit rights; with any such activity to be mutually agreed upon as to time and scope and shall be at your expense. Chase does not permit general inspections or general third party audits due to the confidentiality and security obligations related to financial and customer data required of financial institutions, however, the Bank can make the City’s records available. k. Will the bank charge for audit confirmations? Describe.

Audit confirmations can be requested electronically via Confirmation.com. Requests submitted using the website are typically completed within three business days for most account types.

Confirmation.com is an independent provider of electronic confirmation processing. To begin using this service, your audit firm must first register at www.confirmation.com. Once your registration has been submitted and validated, you can begin submitting your audit confirmation requests online. Any fees would be from Confirmation.com.

The Platinum Business Service team is available to assist your authorized personnel with detailed instructions as needed.
l. Should special events be held by the City will the bank support the efforts with available night deposits and coin/currency needs?
Branch deposits are available for smaller or one-off deposits through the night depository at our commercially enabled branches. Smaller deposits are defined (per day, per branch) as:
● Less than $10,000 in cash (with coin in separate coin bags) ● A maximum of 10 deposits
● A maximum of 100 checks per deposit
IV. FINANCIAL INSTITUTION QUALIFICATIONS | 23 |
● Coin less than $10.00 (coin greater than $10.00 should be directed to our Sacramento vault by armored carrier)
Small change orders are defined (per day, per branch) as less than $5,000.

We recommend the use of our vault deposit services for volumes that exceed these parameters.

3. References.

Chase considers information about our clients proprietary and highly confidential. Therefore, we are not at liberty to disclose specific information about any current or former clients. However, the following clients have agreed to serve as a reference for this proposal:

List references from three comparable California public entity clients. For each reference, include the length of time under contract, a client contact, title, email address, and telephone number.

Confidential – Stanislaus County
Contact Name, Title Donna Riley, Treasurer, Tax Collector Phone (209) 525-4463 Email [email protected]
Length of time under contract 3 years
Confidential -- City of Atwater
Contact Name, Title Anna Nicholas, Finance Director
Phone (209) 357-6347 Email [email protected]
Length of time under contract 7 years
Confidential -- City of El Segundo
Contact Name, Title Dino Marsocci, Treasury & Customer Services Manager Phone (310) 524-2310 Email [email protected]
Length of time under contract 11 years
IV. FINANCIAL INSTITUTION QUALIFICATIONS | 24 |

4. Depository Agreement and Service Agreements
Provide a copy of all depository and service agreements which will be required to be executed under the contract for services rendered including any standard depository and collateral agreements and any service agreements which will need to be executed. Any changes required on the agreements will be discussed and agreed upon before award of the contract is made by the City.

Please see our sample Consolidated Service Terms and Deposit Account Agreement in Appendix 2. Please also see our California Security Agreement in Appendix 3.

California General Collateral Information (Mandatory Local Agency Pool) JPMorgan Chase Bank, N.A. (the Bank), through its National Collateral Management Group (NCMG), employs a Bank developed Corporate Collateral Management System (CCM), which provides daily monitoring of deposit balances and security value for collateralization purposes.

CCM is reviewed each Federal Reserve banking day by dedicated Collateral Managers for compliance with collateral requirements. Collateral requirements are based upon the end-of-day ledger balances in deposit accounts (demand and time deposits) (plus accrued interest if any), less applicable FDIC coverage if coverage for insured balances is appropriately waived, plus applicable margin (10%). The end-of-day deposit balances are uploaded into CCM the following Federal Reserve banking day morning from the Bank's deposit system. NCMG monitors the market value of collateral pledged to our customers and compares the market value to the collateral requirements. In the event a market value reduction or increase in deposit level creates an under-collateralized position, additional collateral will be pledged promptly.

Collateral is pooled for all Local Agency Government Customers and State Agency Customers The Bank follows the collateralization process (California Pool) established by California law and procedures of the Local Agency Security Program (LASP) Administrator. In addition, the Bank follows the collateralization process established by California law for State Agency customers. The State’s own deposits are directly collateralized.

Types of Collateral Pledged
The Bank is currently pledging U.S. Treasury securities to secure Local Agency deposits and State Agency deposits. The amount and types of collateral pledged are subject to change, but will be in accordance with the California Government Code (for Local Agency deposits, Government Code §§ 53651, 53651.2, 53651.6 and rules established by the LASP Administrator; and for State Agency Deposits, Government Code § 16522).

Custodian for the Collateral Securities
The Bank currently employs The Bank of New York Mellon as third-party custodian to hold collateral for the LASP; and the Federal Reserve Bank, which account is controlled by the State Treasurer for the State Agency accounts.

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 25 |
Collateral Priced/Marked to Market
The Bank uses an independent, third-party pricing agent for collateral valuation. Dependent upon the types of securities pledged, the Bank will update security prices (marked to market) daily, weekly and monthly, as provided by the pricing agent. The Bank of New York Mellon also prices pledged securities daily, weekly and monthly, dependent upon the types of securities pledged as collateral.

Departments Responsible for Tracking Collateral and Reporting to the State The Bank has two groups for tracking collateral and reporting: Firmwide Regulatory Reporting and Analysis (FRRA), which conducts all reporting to the LASP Administrator, and NCMG, which conducts security pledging (and other collateral transactions) with the LASP Administrator.

Collateral Reporting
The Bank is required to provide reporting to the LASP Administrator in such frequency and in such format as described in California law and LASP rules. The Bank is unable to provide collateral reporting for LASP pool program customers because the collateral pledged covers all California Pool participants and is not segregated to a specific customer. Request of proof of collateralization for LASP pool program customers can be submitted to:

Department of Business Oversight
Division of Financial Institutions
One Sansome Street, STE 600
San Francisco, CA 94104-4428
Phone: (415) 542-6305
Fax: (415) 263-8508
Contact name and email: Joe Lam, [email protected]

5. Implementation timeline.

The contract period will commence January 1, 2025. The City recognizes that not all services and funds will be transferred by this date but expects that most funds should be transferred by that date and that all services should be available by that date. Collateral shall be in place at a minimum two business days before any City funds are transferred.

The Bank can accept the collateral conditions.

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 26 |
a. Provide a proposed, detailed timeline for transitional implementation of the contract. Include each activity required defined by its responsible party and assigned responsibilities. Denote any limitations or potential delay points.

The timeline must reflect the number of business days required to assure the services are in place or the end date of when such services will be in place and available to the City.

The table below provides the average implementation time for setup of the requested services. Time is measured from receipt of completed documentation. Please also see a sample implementation plan in Appendix 4.

Implementation time averages, resources and critical success factors Service
Expected lead
time (1) Resources Critical factors
Account opening
(2)
2 days • Bank onboarding
specialist
• City cash manager
• Confirm setup requirements
• Receipt of signed documentation
• Due to the U.S. PATRIOT Act and “Customer
Identification Program” regulations, we must
receive all required documentation, properly
and fully completed, before we open an
account
• Information pursuant to the BSA that requires
us to collect and validate the personal
identification information of beneficial owners
and at least one controller
Depository
services
4-10 days • Bank onboarding
specialist
• City cash manager
• Deposit tickets
• Endorsement stamps
• Tamper-resistant plastic depository bags
• Deposit ticket MICR specification sheets are
available electronically; your onboarding
specialist will provide these upon request
• ACH Debit
Block
• Check returns
• End-of-day
sweep
1-5 days • Bank onboarding
specialist
• City cash manager
• Confirm setup requirements
• Receipt of signed documentation
J.P. Morgan
Access
2-4 weeks • Bank onboarding
specialist
• Bank training team
• City security
administrators
• City end users
• City IT
• The City’s banks
• Confirm setup requirements
• Receipt of Security Administration
Designation Form
• Security administrator and end-user ID
activation
• User and entitlement setup
• Security administrator and product training
• Create ACH/wire files and test upload
process, if applicable
• Non-banks begin reporting
IV. FINANCIAL INSTITUTION QUALIFICATIONS | 27 |
Implementation time averages, resources and critical success factors Service
Expected lead
time (1) Resources Critical factors
Cash vault 2-3 weeks
(new).

Changes to
existing cash
vault are much
quicker
• Bank onboarding
specialist
• City cash manager
• Confirm setup requirements
• Order supplies for deposits
• IVR instructions for ordering cash
Remote Deposit
Capture
Remote Lockbox
Capture
Without
lockbox 2-3
weeks
With lockbox
3-4 weeks
• Bank onboarding
specialist
• Bank training team
• City A/R team
• City end users
• Confirm setup requirements
• Order scanner
• Scanner installation
• Product training
• File
transmission
connectivity for
prior and/or
current-day
BAI2
transmission
• Positive pay
transmission
• Reconciliation
4-6 weeks • Bank onboarding
specialist
• Bank technical IPM
• Bank connectivity
• City IT
• City connectivity
• Confirm setup requirements
• User acceptance testing setup
• Successful file and connectivity testing
• User acceptance testing sign-off
• Partner key exchange
• Successful production verification test
Wholesale
lockbox
• Receivables
Online
• Data file
transmission
1-2 weeks
(open
Lockbox)
6-8 weeks
(standard file
format)
12-16 weeks
(custom file
format)
• Bank onboarding
specialist
• Bank technical IPM, if
applicable
• Bank connectivity, if
applicable
• Bank Training team
• City A/R manager
• City IT, if applicable
• City connectivity
analyst, if applicable
• City security
administrators
• City end users
• Confirm lockbox processing instructions
• Finalize data file transmission requirements, if
applicable
• Programming and customizations
• Successful file and connectivity testing, if
applicable
• Partner key exchange, if applicable
• User and entitlement setup
• End user ID activation
• Product training
(1) The expected lead times are estimates for standard product setups. Actual lead-time varies according to complexity of business requirements. Complex and/or large implementations may take longer than described above. (2) Original paperwork must be received before setup may begin Your onboarding specialist follows a structured project framework to execute the setup of products and services that have five key phases:

IV. FINANCIAL INSTITUTION QUALIFICATIONS | 28 |
● Phase 1: Initiation and consultation
● Phase 2: Requirements and planning
● Phase 3: Documentation and services setup
● Phase 4: Testing and live implementation
● Phase 5: Transition to Client Service
Actual timelines and resources are outlined once the scope of work has been completed and approved. Your assigned onboarding specialist provides you with a project plan that is specific to each service being implemented.

The plan also identifies responsibility for each step of the implementation process.

The implementation lead time is defined within the sample project plan. The start of the services setup is dependent on the City’s availability to confirm the setup details and provide signed documentation.

Default in promised delivery of services, without acceptable reasons, or failure to meet the terms or conditions of the depository contract without remedy, shall result in the City having the right to terminate the contract, but the exercising of such right to terminate the contract does not limit any other remedies the City may have for damages or other relief under law.

Should you feel that our performance is not in line with your expectations or that you are not receiving the anticipated value, your relationship manager will work with you to determine what action may be appropriate.

V. REQUIRED BANKING SERVICES | 29 |
V. REQUIRED BANKING SERVICES
To be considered, the proposal must include a response to each of the questions in this Section and all associated fees to provide that service must be detailed on Attachment A – Proposed Fees.

Add any level of detail on descriptions and/or fees as necessary for complete disclosure.

It is the City’s intent that the contract negotiated between the City and the Depository selected through this process will encompass all the services and conditions required in this RFP. Additional services offered by the Respondent may be included in Section VIII as Proposed Additional Services. The Required Services are minimum requirements, and any Respondent unable to provide such minimal services will not be considered for selection as the Depository.

Acknowledged.

1. Consolidated Account Structure with Sweep Mechanism
The City is interested in assuring that all funds are earning at the best, then- current interest rates at all times. The City does not currently use an automated sweep to a money market mutual fund but it will be considered under this RFP as an alternative. A bank alternative structure may be proposed if competitive to reach the City’s full investment goal and to minimize collateral requirements. The availability of spread products for money market accounts (ICS) may be considered as a potential account option but not as a sweep alternative.

An AAA-rated SEC registered money market fund which strives to maintain a $1 NAV would be used for the sweep. If the bank has a valid alternative to a SEC money market fund in compliance with the City's Investment Policy, it may be presented. (The City’s Investment Policy can be found at www.riverbank.org).

A repurchase agreement, ICS, or off-shore accounts are not acceptable as sweep investment vehicles.

The bank shall clearly describe the bank's proposed structure for accounts considering varying interest rate environments.
a. Describe the bank’s ability to provide a ZBA sweep structure and indicate whether the sweep would be from the master or subsidiary account(s).

We offer physical cash concentration via zero balance accounts. We will work with the City to create an integrated liquidity and investment solution. We offer fully automated zero balanced sweeping between single entity owned accounts as well as multi-entity owned accounts.

Zero balance accounts maintain a relationship-managed daily balance, with fully automated transfers to bring the subsidiary accounts to a zero balance at end of day. The City, with guidance from our Cash Management Consultant, determines the sweep parameters at the time of setup. Once the sweep is established no manual intervention is needed. However, as your needs change, we encourage you to contact your relationship team.

V. REQUIRED BANKING SERVICES | 30 |
The balances in the master account will receive an earnings credit that can be used to offset the cash management fees.

We have Investment Sweep options, however, this service creates a conflict with a zero balanced account structure. Alternatively, we do have various certificate of deposit options and other investment options through J.P. Morgan Securities or Private Bank.
b. How is sweep activity reported and applied? Is a separate monthly report provided? Provide a sample.

Reporting is available for both cash concentration (ZBA) and investment sweep activity.

Cash concentration (ZBA) activity
Create, customize and run up-to-the-minute reports on your accounts, all from a single location using the cash reporting tools built-in to our banking portal. Several master reports form the foundation of our online centralized reporting capability. Each format is customizable to create reports tailored to specific needs. The Balance and Transactions Report would contain ZBA activity.

Please refer to Appendix 5 for sample reports.

Investment sweep activity
We provide monthly statements reflecting investment activity and daily detail, which are available in paper format for the City. The City can receive a daily sweep report via J.P. Morgan Access. This daily report provides total investment balance, interest rate, days of income, amount earned, target balance, and monthto-date and year-to-date income totals. Our end-of-day sweep is fully automated and requires no manual intervention once setup.

V. REQUIRED BANKING SERVICES | 31 |
Sample current period sweep activity
Figure 2
c. Provide the prospectus or cusip for any sweep fund alternatives. An AAA- rated, SEC registered fund striving to maintain a $1 NAV is required for such a sweep.

We offer automated end-of-day investment sweeps to help you efficiently invest account balances, maintain full intraday liquidity and meet investment guidelines. For the investment options available, investment sweep services afford competitive returns while simultaneously providing fluid integration with the City’s operating accounts.

The City can use our breadth of services, reputation, and financial strength and stability to help build upon the efficiency and value of your own cash management operation.

V. REQUIRED BANKING SERVICES | 32 |
Sweep options
J.P. Morgan Money Market Funds (MMF)
Funds • J.P. Morgan U.S. Government Money Market Fund
• J.P. Morgan U.S. Treasury Plus Money Market Fund
Share Class Morgan
Exposure
See prospectus for the specific fund selected.

Rating*
Sweep Type End-of-day
Timing Last transaction of the business banking day.

Return of Funds The morning of the next business day.

Interest/Dividends Dividends accrued daily paid monthly based on 365 day basis.

Current Yields
J.P. Morgan U.S. Government Money Market Fund – 4.86%
J.P. Morgan U.S. Treasury Plus Money Market Fund – 4.88% Rates as of September 3, 2024
Summary prospectus and full
prospectus
Additional fund information, as well as the fund prospectus can be found at:
• JPMorgan (Morgan Share Class) U.S. Treasury Plus MMF
• JPMorgan (Morgan Share Class) U.S. Government MMF
Restrictions/Comments Additional fund information, as well as the fund prospectus can be found at:
www.jpmgloballiquidity.com.
* Ratings were issued by Standard & Poor’s and Moody’s. Credit ratings are provided for information purposes only.

Credit ratings are solely the opinions of the rating agencies. Chase does not endorse, and accepts no responsibility for, the credit ratings issued by the rating agencies. Credit ratings may be changed, superseded or withdrawn by the rating agencies at any time.
d. Describe any account structure alternatives to the sweep proposed.

We offer Public Fund Business Premier Savings accounts and Chase Business Certificates of Deposit. The accounts are fully collateralized. Variable rates are tiered based on balances and subject to change.

To learn about non-FDIC insurance products, the City can request to speak with one of our financial advisors. e. If the internal IB and MMA account rates are indexed (versus managed) provide the index base.

Deposit rates in the U.S. are managed rates. Rates are subject to review and change periodically by Chase after considering a range of factors, including the market rate environment and demand for funds. Using a managed rate helps to maintain pricing flexibility while protecting clients from the short-term rate volatility that may result from an indexed rate.

Money market funds (MMFs) provide a rate of return which is specific to a fund and share class. Yields are posted net of expenses as described in the fund’s prospectus:

V. REQUIRED BANKING SERVICES | 33 |
https://am.jpmorgan.com/us/en/asset-management/gim/liq/home f. Is the sweep processed as the last transaction of the day? Yes, we invest the closing available account balance as the last transaction of the day. Cash deposits received during the day will be included with that night’s investment sweep. g. The City may be required or may desire to open additional accounts or close/change accounts during the contract period. Any new accounts shall be charged at the same contracted amount. Confirm agreement to this condition.

Confirmed.
h. The City may contract for new services not proposed (or known) at the time of contract award.

Unanticipated or new services may be negotiated but charged at not more than the then-published rates. Please confirm agreement to this condition.

Confirmed.
i. Will the bank assess a direct balance-based fee on the account analysis? What is the current rate? (Include this fee as applicable on Attachment A submitted.) JPMorgan Chase Bank, N.A. levies a monthly Balance Based Charge. It is assessed against client deposits to address our costs related to the maintenance of deposits. The Balance Based Charge is determined by the bank and subject to periodic review and adjustment. As with other eligible fees, the monthly Balance Based Charge may be offset by any earnings credit provided.

Balance Based Charge calculation (monthly)
Average Positive Ledger Balance x Charge Rate x Number of Calendar Days in the Month Actual Number of Days in the Year
j. Complete the following table by providing the rates for each category for the last twelve months and the current rate.

Type Avg Past 12 Months Current Rate
ECR 1.20 % 1.57 %
Interest Bearing Accounts 0.02 % 0.02 %
Money Market Accounts Not Applicable Not applicable
Sweep MMMF U.S. Treasury
Plus

4.91 % 4.87 %
V. REQUIRED BANKING SERVICES | 34 |
Type Avg Past 12 Months Current Rate
Sweep MMMF U.S. Government 4.92 % 4.89 %

2. Automated Cash Management Information and Imaging
The City requires web-based, automated cash management services and daily balance reporting (prior and intra-day) for timely access to balance information and transactions. It requires a high degree of automation in all service areas.

Imaging of all checks, deposit slips and deposit items is required. All statements and account analyses must be available in electronic form along with archiving of information. To reduce paper handling and storage, the City is focused on electronic processing and imaging.

The City desires timely access to downloadable information for direct download to the City’s accounting ERP software Caselle. Daily balance reporting should include detail on all transactions with summary reporting on closing ledger and collected balances, at a minimum. The City must have administrative control regarding online access.

Acknowledged.
a. Provide a link to the Proposer’s automated information system with any necessary password for the City to review the capabilities.

We would be happy to provide the City with a live demonstration, upon request.

For more information on our J.P. Morgan Access products and services described in this response, visit https://www.jpmorgan.com/solutions/treasury-payments/access. When the page opens, scroll down and click on “Watch Video” for a brief description of capabilities. b. Fully describe and list the bank’s on-line service capabilities and systems.

Our online portal, J.P. Morgan Access, represents a simple, intuitive and multi-functional channel that provides rich information and transaction capabilities with a single sign-on to product applications across the Treasury Services product line.

Comprehensive functionality provides secure, seamless access to products across our services. Review and manage data, customize treasury activities, initiate payments, coordinate entitlements and manage tasks with a single point of access to cash management.

V. REQUIRED BANKING SERVICES | 35 |
Our comprehensive cash management system at a glance
Figure 3
c. Describe the ability to search on historical transactions and reports as well as the ability to retrieve and download historical images.

Our online portal allows the City to retrieve real-time and previous day posting of information each business day. The cash position of accounts held by us and other financial institutions can be viewed in an online, secure environment. Current-day information is updated throughout the business day for designated accounts.

Also, you can access useful information to aid in planning funding and investment strategies, including topline summaries, detailed transaction records and historical reports for up to two years. User entitlements can be managed to control access to accounts and reports, including:
● Balance and Transaction Report
● Interactive Transaction Report
● EDI Report (U.S.-based accounts)
● Returns and Exceptions Report
● Payment and Template Reports
● Wire Detail Report
V. REQUIRED BANKING SERVICES | 36 |
Cash reports
Figure 4
A variety of filters can be used to pinpoint desired transactions for enhanced data management. An export feature offers a variety of formats to facilitate data integration with your accounting and decision support platforms. Reports can be scheduled with the frequency and format desired by each user and shared with other users.

Transaction initiation and template reporting
Transaction reports are available for transactions initiated through our online portal for accounts held at both Chase and other financial institutions. Template reports provide details on all templates set up by clients on these accounts.

Transaction reports include:
• Transaction details
• Transaction history
• Transaction methods and descriptions (wire, book
transfer, ACH, account transfer)
• Transaction creation method (free-form, imported,
from template)
Template reports include:
• Template history (last date used, setup, approval
and activation)
• Template creation method (free-form, imported)
• Template status (saved, pending approval,
pending activation, active, inactive, rejected)
V. REQUIRED BANKING SERVICES | 37 |
• Transaction status (saved, pending approval,
pending release, rejected, released, delivered,
completed, rejected by bank)
Image availability
We accommodate image delivery via the Statements and Checks functionalities on J.P. Morgan Access and via Receivables Online.

Check disbursements, check images are available the same day the check is presented and stored for 7 years (standard) with an option to extend retention up to 10 years. For positive pay clients, exceptions include check images for your review and decision.

The deposit information for branch teller, branch night drop, vault (via armored car) and ATM deposit options is viewable on a same-day basis on J.P. Morgan Access, with any images available the following day.

Images submitted using Remote Deposit Capture are available for viewing the same day. d. What level of customization is available for reporting? Our online portal offers the City a comprehensive list of predefined reports, as well as advanced filtering and criteria capabilities, and a powerful set of interactive features, allowing you to customize reports for different views or download them into different layouts to meet your varied reporting needs.

For example, for balance and transaction reporting, the City can customize reports online with the following selection options:
● Select balances by account or groups of accounts
● Access prior business day, current business day or as of business day financial data; or select a date range of up to 90 calendar days
● Evaluate account averages for this month, the prior month and year-to-date ● View balances, credits and debits
● Select from a variety of industry standard formats: Excel, CSV, PDF, MT940, ISO camt.054 and BAI2
In addition, the City can enhance the presentation of your information using the following Interactive Reporting functionalities:
● Move, show or hide fields or columns within the report ● Sort on single or multiple columns
● Use our online search tool to filter data
● Use graphs or charts to quickly visualize trends
● See your report change dynamically as you perform customization of your report V. REQUIRED BANKING SERVICES | 38 |
● Save and re-use the report template, print or export the report with the customized settings To enhance productivity, reports can be scheduled to run automatically via our Automated Scheduler at recurring intervals, e.g., daily, weekly or monthly. Additionally, customized reports can be shared by the creator with other City users.

Once the scheduled reports are available in your users’ Reports Inbox, the users can download these reports at any time even outside of regular business hours, provided that this is not within our electronic banking system’s regular maintenance hours.
e. When is previous day information available? Is intra-day information real- time or periodically made available throughout the day? Specify update scheduling.

Prior day reporting is available by 7:00 a.m. local time. Current-day information, which is the reporting of memo-posted transactions, is available throughout the day as the transactions complete on processing applications such as lockbox , wire, ACH, returns, controlled disbursement and demand depository accounts.

Wire transfers are reported nearly in real-time. Targeted reporting times for transaction types follows.

Current-day information reporting goal
Report Goal
ACH: U.S. 9:00 a.m. PT, 1:00 a.m. PT, 3:00 a.m. PT, 5:00 a.m. PT Same Day ACH: U.S. 7:00 p.m.PT
Wires: U.S. Domestic (GFP)—Fed 6:00 a.m. to 3:00 p.m. PT Wires: U.S. Domestic (GFP)—CHIPS 6:00 a.m. to 2:00 p.m. PT Wires: U.S. Domestic (GFP)—book 6:00 a.m. to 3:00 p.m. PT Lockbox: U.S. Deposit information Ten times throughout day (3:00 a.m., 5:00 a.m., 7:00 a.m., 9:00 a.m., 11:00 a.m., 12:00 p.m., 1:00 p.m., 2:00 p.m., 3:00 p.m. and between 5:30 and 6:00 p.m. PT)
f. Define the history retention schedules for various types of online information.

Our banking portal offers 45 calendar days of account balance and transaction data. Upon request, for report retention, the system can store 90 calendar days, 1 or 2 years of data. Inquiries can be run against historical data for 90 days standard or up to 2 years depending on the entitled account’s history retention settings.

Images of all on-us transactions (paid checks, deposit tickets, advices/adjustments) and account reconciliation (ARP) reports are available via our banking portal. Check images and ARP reports are stored for 7 years (standard) with an option to extend retention up to 10 years.

Transaction Services provides 7 years of wire details for both incoming and outgoing wires and offers 15 months of historical ACH transaction information on all ACH-originated payments.

V. REQUIRED BANKING SERVICES | 39 |
Retention at a glance
Service Retention Extended retention
Online activity 45 days 90 days, 1 or 2 years
Bank statements Up to 7 years
Account analysis statements Up to 13 months
Paid check images Up to 7 years 10 years with approval
ARP reports Up to 7 years 10 years with approval
Items deposited with remote deposit capture images 10 years via Receivables Online g. Describe the security protocol for online services. How is authentication and authorization provided? Is dual authentication required?
Our online portal uses a multi-layer security system designed to protect the privacy and identity of users, while maximizing data and transaction integrity. Services available on the portal accommodate a wide range of security options, including requests for multiple transaction approvals, demands for separate ‘enter’ and ‘release’ functions for users, differentiated account list per function, dual control among users and daily or transaction limits.
● Control: The City’s security environment is maintained by your assigned security administrators, who create and authorize users for online services. Using online administration tools, security administrators can lock down security with precise user entitlements, limits and account settings and generate entitlement reports to meet auditing requirements. ● Two-step logon: The system uses an enhanced two-step logon to help validate that users are accessing the authentic J.P. Morgan Access website.
● Single Sign-On: A distinct user ID and password give the City’s users access to the platform and product functions that do not involve the initiation of value-bearing transactions. Users entitled to transaction initiation or that fall under certain regulatory requirements will also require a security token to log on.
● User authentication: During the initial access to the server, users’ identities are validated against their registered profiles.
● Log on control: After three log on attempts, the system automatically locks out a user who enters an invalid password and generates an entry in the security log. The three failed log on attempt restriction prior to disabling a user is on a per session basis. This is set by our systems. ● Computer registration: Each time a user logs on through an unrecognized computer, the system prompts the user to re-register the unit using an activation code delivered via an out-of-band channel, such as email, help desk or in person by a City security administrator. ● Digital signature: Authentication is required for users accessing functions involving value-bearing transactions or security activities (e.g., wires and ACH). We use a two-factor authentication process:

V. REQUIRED BANKING SERVICES | 40 |
 Digital signature authentication is achieved through Chase’s patent-pending solution leveraging RSA SecurID token technology to provide signatures.
 Users enter their user ID, password and RSA SecurID token code when logging on. They are prompted to re-enter their password and token code before moving funds during their secure session.
● Data protection: Industry-standard 256-bit Transport Layer Security encryption helps maintain confidential access and delivery of data, and transaction facilities. ● Session timeout: After 15 minutes of inactivity, users are automatically logged off. h. How and by whom is the administration of the security module established and maintained? The City nominates your own security administrators to establish and approve users for accounts, services and functions using an online entitlement feature. As a standard practice, and to help the City maintain audit controls, a minimum of two security administrators are required for user setup and maintenance.
● One security administrator establishes users for accounts, services (e.g., ACH initiation, funds transfer initiation or balance reporting), and functions (e.g., reporting, transaction initiation and transaction approval or release).
● A second security administrator approves the user entitlements granted by the first security administrator.
● For each user created by a City security administrator, we establish basic authentication user IDs.

Digital signature authentication IDs are established for users authorized for transaction initiation and administrative functions.
● RSA SecurID tokens are assigned by the security administrator to those users who need to perform digital signatures.
● Users log on to the portal to start the new user identification process with the secured information provided in a welcome email generated after the user was created and approved by the security administrators. The user validates their contact information, leverages a one-time pin and creates their own password.

This logon procedure, in combination with the acknowledgement and pre-established user entitlements, creates an electronic user profile that is employed for all J.P. Morgan Access communications with Chase.

Each user’s desktop view of the portal reflects the accounts, services and functions to which that user has been entitled.
i. What are the hours of available technical support? How is that support provided? Is training available?
We offer channels to provide you with a prompt response to transactional and technical inquiries; these include our Platinum Business Service team, the Solution Center Access Support team, the portal’s inquiry feature and Virtual Assistant feature. The Access support team offers extended hours of operation, from 5:00 p.m. PT on Sunday through 6:00 p.m. PT on Friday.

V. REQUIRED BANKING SERVICES | 41 |
Comprehensive, customized training is provided as part of the onboarding process for both security administrators and users. We offer a self-paced training through the Access Help Center that users may access at any time. Detailed online help is also available on each product, as well as short how-to videos from certain pages.
j. What items are imaged (checks, statements, deposit slips, deposited items, etc.)? Images of all on-us transactions (paid checks, deposit tickets, advices/adjustments), bank statements and account reconciliation (ARP) reports are available via our banking portal.

Check images and ARP reports are stored for 7 years (standard) with an option to extend retention up to 10 years. Items deposited with remote deposit capture images and/or our lockbox services are stored for 10 years via Receivables Online.
k. Describe your alert/event messaging process. Are alert/event messages sent via email, text or simply online? Must the user be online or are text/emails sent directly to individuals as defined? J.P. Morgan Access offers a wide variety of customizable business critical alert notifications to save you time and make sure you do not miss anything.

Alert notifications are free and activation is easy. Your users are auto-subscribed to some notifications and can subscribe to others, depending on the notification types and user entitlements. Your users can elect to receive alert notifications via email and/or online via the Alerts Inbox.

Define, manage and view messages from anywhere in the online portal. For example:
● Set up alerts for when balances are above or below a preferred level, transactions/checks are available, or payments require your attention, with links to supporting detail ● Choose to be alerted to new items in your payments inbox that require action, such as transactions pending approval or see templates that have been modified ● Receive an alert when a scheduled report is complete
Options are available for users to specify the type of transaction, the account, amount range etc., and in this case, your users can opt to receive an alert notification whenever an outgoing payment above a pre-defined amount is posted to the specified account. Designate up to 25 users to receive email alert notifications; personal email addresses are not allowed.

Additionally, online Security Alerts are delivered automatically to help you identify any unauthorized activity on your accounts and online profile. You cannot unsubscribe from these alert notifications. However, you can specify the delivery method.
l. Do you provide download services for other entities using Caselle ERP software? Provide a list of ERP software you are transmitting or downloading information into currently.

Our file transmission channel offers full end-to-end integration and supports industry standards for both file formats and connectivity, providing an ERP agnostic solution. We work with numerous ERP and TMS providers and have extensive experience in integrating with our clients’ ERP and TMS systems.

V. REQUIRED BANKING SERVICES | 42 |
m. Fully describe your mobile services including security provisions for those services.

Experience the power of J.P. Morgan Access in the palm of your hand with Mobile.

Our Mobile app allows the City to view and perform many of the same tasks as in the online portal, as permitted per entitlements:
● View account balances and transaction activity
● Drill down into individual accounts and transaction detail ● Deposit U.S. Denominated checks remotely
● Payment approve or reject
Benefits of our approach: Mobile—stay connected on the go Get started fast
Easy app setup and sign in allows new users to get started on the app, without needing to go to the J.P. Morgan Access website
Easy navigation
A Welcome Tour provides an overview of the app on the first launch, allowing users to easily navigate features
Account views
View accounts, balances and transactions in the palm of your hand Check deposits
Expedite check deposits away from your desk with check and document capture Take action on payments
Approve, release and reject payments on Mobile for timely payment processing Mobile is supported by the core online portal’s multi-level security protocol designed to protect privacy, preserve data integrity and maintain operational control. n. Describe any cash forecasting capabilities.

Our online portal offers a dynamic home page to support your cash position and forecast. The home page of our online portal brings you critical information immediately upon logging onto the system. Our customizable dashboard home page consolidates critical information in one place. With just one click, you can access urgent action items, access your accounts, recent activity, reports and statements. Bring the information you need together with customized cash position views.

Anytime, anywhere
Mobile’s updated modern
design makes it easy to
deposit checks, check
account balances and
approve payments.

V. REQUIRED BANKING SERVICES | 43 |

3. Deposit and Collection Services
Standard commercial deposit services are required. Deposits are taken by Garda currently to a local bank branch. Branch deposits of coin/currency are made regularly averaging $85,500 per month. OTC deposits contain coin and currency. Change orders are processed at the branch using City staff. Check deposit average $1,259,200 monthly. Coins are not rolled. Currency is not strapped. The City wants the ability to make necessary deposits to a close branch location. The City utilizes and intends to continue using Xpress Bill Pay which processes through Chase Paymentech. Currently Xpress Bill Pay integrates only with Chase Paymentech and PathPoint.

We offer flexible depository services to meet the City’s check and cash deposit needs. Use our cash vault services for deposits if your average deposits exceed Chase branch thresholds.

Offering convenient cash vault services
Benefit from making cash deposits from your location(s) using our cash vault services. You arrange to contract with an armored courier to drop off deposits at one of our more than 100 vault locations. We recommend you use our Sacramento vault site.

Our goal is to offer the right depository solutions, tailored to your needs Do you consider alternative deposit methods? We offer an opportunity to discuss alternative deposit methods, such as remote deposit using Remote Deposit Capture for checks. We offer alternative deposit services for cash, such as Smart Safe.

We focus on facilitating and safeguarding the process with proven products, services and client care. As one of the largest depository banks in the United States, we’re dedicated to this type of business and have made investments to maintain greater control over the quality and efficiency of each transaction.

Branch locations
Benefit from making smaller deposits at our 5 commercially enabled branches near your locations.

V. REQUIRED BANKING SERVICES | 44 |
Smaller deposits are defined (per day, per branch) as:
● Less than $10,000 in cash (with coin in separate coin bags) ● A maximum of 10 deposits
● A maximum of 100 checks per deposit
● Coin less than $10.00 (coin greater than $10.00 should be directed to our Sacramento vault by armored carrier)
Small change orders are defined (per day, per branch) as less than $5,000.

We recommend the use of our vault deposit services for volumes that exceed these parameters. Please note that our branch locations do not accept deposits or release coin and currency orders to armored couriers.

Branch locations, address and hours of operation are provided in the table below. The deposit cutoff time is the branch closing time Monday through Friday, 5:00 p.m. local time for branches in your area.

Commercially enabled
branch name Address
Hours of operation
(Local time at branch)
Riverbank

2.0 miles
Coming soon
Riverbank, CA
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

McHenry Ave.

5.1 miles
2609 McHenry Ave.

Modesto, CA 95350
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

Century Center

5.13 miles
2401 E. Orangeburg Ave., Ste. 10
Modesto, CA 95355
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

East F St.

5.27 miles
325 E. F St., Ste. A
Oakdale, CA, 95361
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: closed
Standiford Ave.

7.18 miles
2900 Standiford Ave.

Modesto, CA 95350
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.
* Branch hours are subject to change and are posted at each branch location.

As a business practice, we regularly review branch and ATM activity, which may result in branch openings and closings, ATM placement or removal, or in the change of branch bank or ATM functions. Therefore, branch and ATM locations and functions may change from time to time.

Make cash deposits at any time through the depository vault (night depository) at any commercially enabled Chase branch. Business Deposit Express requires the use of recyclable, dual-pouch, tamper-resistant plastic deposit bags for each deposit. By using the plastic deposit bags, branches may verify deposits containing cash on a delayed basis. We complete deposit verification of all cash within two business days of receipt of the deposit (three days if the deposit package is forwarded to a commercial vault for verification).

We acknowledge your intent to continue using your current process for merchant services.

The City expects all deposited checks to clear based on the bank’s current published availability schedule, but, any expedited availability options should be noted in the proposal. All cleared deposits received by the bank's established deadline must be processed for same day credit. The bank shall guarantee V. REQUIRED BANKING SERVICES | 45 |
immediate credit on all incoming wires, ACH transactions, on-us items, and U.S. government security maturities and coupon payments. Failure to credit City accounts in a timely fashion will require interest payment reimbursement to the City at the then-current daily Fed Funds rate.

Incoming funds will be credited same day if received by the cutoff times listed just below in Section a. Should Chase cause an error resulting in lost interest to the City, we will work with you to rectify the problem utilizing a mutually agreed-upon method of reimbursement.
a. What is the bank’s daily cut-off time to assure same day ledger and, pending availability, collected credit at the Riverbank branches?
The City will receive same-day funds availability for cash deposits and checks drawn on Chase. The cutoff time for each transaction is detailed below.

Deposit cutoff times
Cash deposits
Branch deposits Times vary by location but are typically between 5:00 p.m. and 6:00 p.m. branch time.

Branch night drop
deposits
7:30 a.m. branch time.
• Select branches offer a second opening in the early afternoon. Deposit cutoff times are clearly indicated on the face of each depository, as required by law.

ATM deposits 8:00 p.m. PT
• Deposit cutoff times are clearly posted at each ATM.

Vault Our Sacramento vault has the following cutoff times:
• Cash-only deposit: 8:00 p.m. local time of the vault
• Mixed (cash and check): 5:00 p.m. local time of the vault • Check-only: 5:00 p.m. local time of the vault
Smart Safe Cash deposits received by the Smart Safe cutoff of 10:00 p.m. local time of the vault will receive same-day ledger credit with next-day availability.

Check-only deposits
Remote deposits Remote Deposit Capture: 7:00 p.m. PT, with same-day ledger availability based on endpoint
Electronic deposits
ACH All incoming ACH deposits received by Chase by 7:00 p.m. PT receive same-day receipt/credit and are included on the next business-day information reporting.

Wires For U.S.-held accounts, the cutoff time for incoming credits is the close of Fedwire at 3:45 p.m. PT.

V. REQUIRED BANKING SERVICES | 46 |
b. Can the bank accept armored car deposits at a branch? We only accept armored car deposit deliveries at our cash vaults. We recommend that the City use or Sacramento vault.
c. Can checks and coin/currency be made in one bag or must it be separated? Checks and coin/currency can be placed in the same bag, if the coin amount is less than $10. For deposits delivered to the cash vault, deposit deadlines are typically later for cash-only deposits. Mixed and cashonly deposits have an earlier deadline for same-day credit. Separate checks from cash to improve availability of funds. We require coin deposits greater than $10 to use a separate deposit ticket and bag; it may be credited to your account on a delayed basis.

If you require cash deposits to be reported separately from check deposits, it’s required to separate deposit bags with separate deposit tickets containing a unique location identifier (ULID) . d. Is a vault deposit required? Describe.

A vault deposit is required for deposits that exceed our branch thresholds. Those thresholds are described here.
● Less than $10,000 in cash (with coin in separate coin bags) ● A maximum of 10 deposits
● A maximum of 100 checks per deposit
● Coin less than $10.00 (coin greater than $10.00 should be directed to our Sacramento vault by armored carrier)
Change orders must be less than $5,000 (per day, per branch). e. What e-receivables services are available?
We offer eLockbox to consolidate and streamline electronic payments from multiple sources. Additional details are below in Section q.
f. Does the bank have the ability to integrate with the Xpress Bill Pay gateway? Chase owns its own merchant processing service and works with many providers to connect to different point of sale and online bill payment systems. Chase Paymentech currently works with Xpress Bill Pay and we are thrilled to continue supporting your program. No changes should be required. Once we are awarded the banking program, you will simply update the settlement/processing account with your new Chase account number.

V. REQUIRED BANKING SERVICES | 47 |
g. When and how are credit/debit advices sent to the City? (Preference will be given to electronic delivery.)
The credit or debit deposit adjustment can be viewed online and on your bank statement. The chart below outlines standard procedures for reporting deposit adjustments and options available to you.

Standard and options for reporting deposit adjustments
Branch
The standard delivery method for adjustment advices is the U.S. Postal Service. We mail adjustment advices within one business day of verification to the address listed on the deposit account. The location number can be included on the adjustment advice.

For paper check deposit, we can mail a second copy of the adjustment advice to an alternate address. However, for cash deposit adjustments, we’re not able to mail an adjustment advice to an alternate address, nor can we send copies to multiple addresses.

The credit or debit deposit adjustment can also be viewed online and on your bank statement with the dollar amount and location number, depending on whether the deposit is delivered to a vault or branch.

Vault
In addition to online viewing, we also offer the following notification options to supplement the paper advice:
• Email: Next-day notification for all deposits and adjustments processed during the prior processing day • Receipt mailer: Mailed next day for all deposits, adjustments and change orders processed during the prior processing day
• Online: Adjustment reports are available online through Web Currency Services Vault deposit adjustment advices also include the original deposit amount, original deposit date, processing vault ID and adjustment reason.

Electronic deposit using Remote Deposit Capture
For images that can’t be forwarded for collection because they don’t meet Check 21 requirements, we send an email notification to you on the next business day.
h. What deposit images are provided online? When?
Images of all on-us transactions (paid checks, deposit tickets, advices/adjustments) are available next-day via our banking portal. Images submitted using Remote Deposit Capture are available for viewing within fifteen minutes.
i. How does the bank handle discrepancies in deposit amounts? What dollar limits are used for decisioning? What settlement process is followed?
We process all adjustments regardless of dollar amount. We internally manage adjustments below a predetermined sundry amount without posting the corrected entries and related fees to your account. Both vault and branch transactions are subject to the $2.00 sundry amount.

Our standard practice is to credit you for the dollar amount reflected on the deposit ticket or in the electronic file. If an adjustment is needed once the deposit is verified, the adjustment amount is then posted to your V. REQUIRED BANKING SERVICES | 48 |
account. Cash deposits are verified within two days of posting. Remote deposit capture images that are deemed nonconforming are adjusted on the same business day. j. How and when does notification of return items take place? Return check email notification can be setup to provide immediate notification on all return items, or just on items above a specified dollar amount.

After processing the City’s return items, the return system generates a debit to the designated demand deposit account (DDA). The bank matches the actual return items to a return item advice and mails them to the DDA statement address via First Class U.S. mail. The return advice lists the dollar amount and the reason for return for each item.

Email notification
The City can receive an email notification from Chase:
● Email can be provided as text-only or as text with image ● Email with image is delivered via encrypted secure email ● Email message contains the return item detail, and a separate attachment contains the returns images (front and back)
● Group email addresses are allowed
● The City can choose when emails are sent:
 For returns only or items over a certain amount
 Immediate, hourly, end-of-day
Online image viewing via J.P. Morgan Access
J.P. Morgan Access allows the City next-day access to return item information and images. This solution allows authorized users at the City to electronically retrieve return item images. Our online portal provides secure 24-hour, high-speed online access to your return images.

To find an image, the City’s user runs a Returns and Exceptions Report or the Balance and Transaction Report on J.P. Morgan Access. The front and back of the returned item is available. The user then clicks on the icon for the return item image to view, print or export the image. k. How are returned checks reported to the City? Do all NSF/returned item advices include a full description and reason for return? List the elements reported.

Returned check notifications are provided via mailed advices and our online portal, with an option to receive email notifications. Return advices include the processing date (debit date), advice number, deposit account V. REQUIRED BANKING SERVICES | 49 |
bank number, deposit account number, dollar amount of each return, return reason for each return and total debit amount for the advice.
l. What type deposit bags are used or required? Are these available from or provided by the bank? Below are our deposit bag requirements for cash, checks and coin.

Deposit bag requirements
● Must be a clear, tamper-evident, dual-pouch, “cash and check” plastic security bag ● The pouch designated for deposit tickets, checks and money orders should have a resealable closure
● The pouch designated for cash should have a tamper-evident closure ● The two pouches must be clearly separate from each other, so that there’s no access from one pouch to the other
● One side of the bag must be clear to verify the contents ● The bag number must be barcoded on the outside of the bag We require disposable, heavy-duty, plastic coin bags for coin deposits greater than $10.

We provide you with access to the deposit bag vendor at preferred prices. The bank has implemented a fullservice program for ordering, billing and drop-shipping deposit bags to client locations. Order bags online at www.chasebags.com or call the vendor directly at 866-458-BAGS (866-458-2247), from 5:00 a.m. to 4:00 p.m. PT.

If you choose to provide your own bags, they must meet our deposit bag specifications and standards for security, strength and durability as described in the Cash Vault Services Product Guide in Appendix 6. m. Can the bank provide location tracking on deposits?
Yes, we provide location reporting for clients that deposit from multiple sources into a single checking account through J.P. Morgan Access. The City can customize the filters and view of the Balance and Transaction Report, available through the Reports function, as a Location Report that captures deposit information from each of your locations. Locations are identified by a unique location identifier (ULID) number printed on the deposit slip, which is then reported back to your main office/location, broken out by each location.

The Location Report view within the Balance and Transaction Master Report captures and reports deposit information for the period you determine. Totals are calculated by each ULID location ID for the date range selected along with other optional totals. The information captured includes:
● ULID number
● Deposit date
V. REQUIRED BANKING SERVICES | 50 |
● Deposit amount
● Deposit ticket and deposited check images (online output only) Sample Balance and Transaction Report: location view
Figure 5
Note: Only paper-based deposit images are included within the Location Report.

Create deposit detail reports itemizing your deposits by ULID location. Users can select daily, weekly, monthly or customized date ranges with totals for each ULID location over the time frame selected. Users schedule reports with the frequency and format desired. n. What advance notice is required for change orders? (Branch and vault) Coin and currency orders are placed via telephone using an interactive voice response (IVR) or through our Web Currency Services ordering platform.

V. REQUIRED BANKING SERVICES | 51 |
Your as-needed change orders can be set up 24/7 and up to six months in advance of the requested delivery date. Orders placed prior to 1:00 p.m. local time (of the applicable branch or vault) will be available for armored courier pickup by the end of the business day in the vaults or ready for pickup the following morning at the specified branch.
o. Provide a list of all the bank's locations in the City and surrounding areas.

Commercially enabled
branch name Address
Hours of operation
(Local time at branch)
Riverbank Coming Soon
Riverbank, CA
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

McHenry Ave 2609 McHenry Ave.

Modesto, CA 95350
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

Century Center 2401 E Orangeburg Ave.

Ste. 10
Modesto, CA 95355
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

East F St 325 E F St., Ste. A
Oakdale, CA 95361
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Standiford Ave 2900 Standiford Ave.

Modesto, CA 95350
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

Pelandale and
Chapmman
3601 Pelandale Ave., Ste C-1
Modesto, CA 95356
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 1:00 p.m.

Spreckels 123 Spreckels Ave.

Manteca, CA 95336
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

Countryside Dr. 2951 Countryside Dr.

Turlock, CA 95380
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

Manteca 115 W Center St.

Manteca, CA 95336
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.

Geer Rd 2091 Geer Rd.

Turlock, CA 95382
Monday – Friday: 9:00 a.m. to 5:00 p.m.

Saturday: 9:00 a.m. to 2:00 p.m.
p. Besides positive pay, how does the bank assist in fraudulent check recovery? The bank has a designated fraud area that works closely with the City to send out and subsequently obtain any necessary information (i.e., affidavits of forgery) to begin the recovery process. Concurrently, after being notified, the fraud area immediately contacts the bank of first deposit to place a hold on any remaining funds in the account. Upon receipt of the appropriate documentation from the City, the bank’s fraud recovery area will then forward the necessary information to the bank of first deposit and continue working the case until an official response has been received back.

V. REQUIRED BANKING SERVICES | 52 |
q. The City uses a retail e-lockbox through Xpress Bill Pay. Fully describe the respondent’s e-lockbox services.

We offer you an electronic payment consolidation service to help you save time, improve productivity and reduce costs.

Here’s how we can help you streamline receivables posting with this service:
● Consolidation of electronic payments received from
multiple sources into a single deposit
● Quickly crediting your account on the morning of the next business day after receipt of payments
● Convenient posting to your back-office system because our Transaction Repair service allows you to review and repair exception items online
● Streamlined single accounts receivable data file that’s uploaded into your back-office system
Transaction Repair is available through J.P. Morgan Access We designed Transaction Repair to help you review and repair exception items online for faster posting to your back-office system. Just submit returns and notifications of change to your originators online through our Transaction Repair service or J.P. Morgan Access Transaction Services to correct future issues and improve straight-through processing.

Remote Deposit Services
The City does not currently use remote deposit but plans to add this service under the new contract. The checks are currently processed at two locations. A web-based system is required.

Acknowledged.

WHY WORK WITH US?
We offer eLockbox consolidation
for bill payments and remittances
from more than 70 providers,
including Fiserv, FIS, MasterCard
RPPS, IPP, ORCC, i-Pay,
MoneyGram, Western Union,
Yodlee, U.S. Government agencies,
and the Federal Reserve Bank,
among others, enabling you to
streamline your accounts receivable
update process.

V. REQUIRED BANKING SERVICES | 53 |
a. Describe the bank's remote deposit/capture processing.

Remote Deposit Capture (RDC) provides you with an end-to-end hardware, software and processing solution for reducing paper check payments at branch locations, drop boxes, and internal retail and consumer programs.

Manage your treasury needs easier and improve cash flow by increasing cash application rates.

Remote Deposit Capture can help you move from paper-intense operations toward electronic solutions.

The solution allows the City to deposit business, government and consumer checks, Postal Money Orders, Western Union Money Orders, demand drafts and government warrants.

To use our remote capture services in the U.S., checks must be:
● Scanned from a U.S. location
● Drawn on a U.S. financial institution and in U.S. dollars ● Deposited into a Chase U.S.-domiciled DDA
You need only a high-speed internet connection, a desktop check scanner and a Windows-based PC.

Remote Deposit Capture workflow
Figure 6
V. REQUIRED BANKING SERVICES | 54 |
b. Describe equipment needs, capabilities, and limitations.

You need only a high-speed internet connection, a desktop check scanner and a Windows-based PC. We recommend the Epson product line. The Epson CaptureOne 60/100 (60 checks/coupons per minute) or 90/100 (90 checks/coupons per minute) is generally used for check-only scanning and the Epson DS-770 II if you plan to scan checks and documents. You may scan up to 999 transactions in a single batch scanning 50 items at a time.

Epson Scanners Speed Daily Volume
CaptureOne 60 / 100 60 checks / coupons per minute 3,000 CaptureOne 90 / 100 90 checks / coupons per minute 7,500 WorkForce DS-770 II 45 items per minute 5,000
c. What is the final deposit cut-off time with remote deposit? The Remote Deposit Capture deadline for same-day deposits is 7:00 p.m. PT. Deposits scanned after the cutoff will be processed next day.
d. Provide a sample remote deposit batch report. How long are these retained for access online? Below is a sample transaction summary report that lists batches submitted. This report is available for up to 31 days and items deposited via remote deposit capture are available for ten years via Receivables Online.

Sample
Figure 7
V. REQUIRED BANKING SERVICES | 55 |
e. Is scanner equipment provided or available with the contract: purchase or lease? List the equipment required along with its approximate cost(s).

After your remote capture service implementation, the City will be able to purchase scanners. Our Remote Deposit Capture Resource Center site provides a link to the vendor site where you place your order. Although not required, the vendor also offers compatible endorsement stamps.

For a current list of our supported scanners and the requirements, please visit https://www.jpmorgan.com/solutions/treasury-payments/remote-capture-resource-center f. Will the bank provide a scanner?
As mentioned just above in letter e, scanners can be purchased after the service is implemented. Please see our Remote Deposit Capture Scanner Ordering Guide in Appendix 7.

4. Standard Disbursing Services
Standard disbursing services for accounts payable and employee payroll accounts with payee positive pay are required. Payee positive pay is not being used currently. Payrolls are paid primarily by ACH but it is not mandatory. An occasional physical check may be written.

The City currently does not utilize positive pay services but will require it under the proposed contract.

The City also intends to continue to move toward more vendor payments by ACH.

Acknowledged.
a. When is daily check clearing information available online through intra- day reporting? How long are transaction details maintained online? Does this include images? Daily check clearing information is available via prior-day reporting by 7:00 a.m. local time, based on where each account is domiciled. Receive current-day information of transactions posted (memo-posted transactions)—such as lockbox, wire, ACH, returns, controlled disbursement and demand depository accounts—throughout the day, within minutes of receipt or completion.

Our banking portal offers 45 calendar days of account balance and transaction data with an option to extend this up to two years. Images of all on-us transactions (paid checks, deposit tickets, advices/adjustments) and account reconciliation (ARP) reports are available via our banking portal for 7 years with an option to extend to 10 years.

V. REQUIRED BANKING SERVICES | 56 |
b. The City requires the bank to cash free of charge any non-account holder payroll checks for City employees with ID at the bank branch. Confirm agreement with this condition.

We will cash the City’s payroll checks, drawn on Chase, for account holders as long as the check presented for payment matches the positive pay issuance information on file.

Non-account holder check cashing can be enabled with the On-Us Check Cashing service. On-Us Check Cashing is an arrangement between Chase and the City for your authorized checks drawn off a specific account to be cashed by non-account holding payees at a Chase branch. There is a per item check cashing fee, which may be paid by the payee at the teller line or absorbed in your analysis statement.

Pricing for non-account holders is $8 per item that can be charged to the payee at the teller line or absorbed by the client via account analysis.
c. Describe any e-payables or payment consolidation services available.

We recommend you use our online portal for ACH and funds transfer which are described in this proposal. d. Describe the bank’s virtual credit card capabilities for vendor payments? We offer a single-use, electronic, credit card-based payment method to help the City more efficiently manage payments, reduce costs and transform traditional areas of expense into potential revenue generators.

Gain the flexibility, float and rebate of a purchasing card coupled with powerful payment controls, anti-fraud and reconciliation features of virtual cards.

Virtual cards are equal to the approved payment amount. There is just one account per payment to help make sure the merchant only has access to approved funds for a specific payment.

Virtual card reconciliation is based on matching four key elements of purchase payments to transactions:
account number, validity dates, dollar value and merchant category code (MCC). When these items match, reconciliation occurs automatically, and you gain further efficiencies by integrating into your ERP system.

V. REQUIRED BANKING SERVICES | 57 |
e. Describe the bank’s commercial card program available including any rebate opportunities.

Our One Card solution consolidates travel and entertainment, procurement and other expenses into a single payment system.

Manage multiple types of spend using a single solution
Figure 8
Use our One Card solution to benefit in several ways.

Benefit in many ways with a One Card solution
Improve your efficiency
• Increase spend that leads to increased rebate revenue • Reduce administrative and maintenance redundancies
• Decrease reliance on petty cash and travel advances
• Benefit from accelerated payments that maximize float • Lower inventory costs
Save time
• Centralize visibility into payments to increase leverage in supplier negotiations • Receive real-time access to data and reporting
• Access consolidated and automated reporting
• View receipt images at your fingertips
• Benefit from a customized approval workflow
• Increase program administrators’ productivity with program automation • Simplify integration into your Enterprise Resource Planning (ERP) system V. REQUIRED BANKING SERVICES | 58 |
Benefit in many ways with a One Card solution
Improve supplier relationships
• Improve cash flow through faster payments
• Simplify accounts receivable (A/R) processes
• Experience savings on credit and collection costs
Increase control, flexibility and security
• Receive real-time online program controls, including merchant category code (MCC) restrictions • Create account limits by transaction type (dollar limits, activity limits, cash advances, etc.) • Improve employee convenience with acceptance at more than 98 million locations • Access experienced professionals that help set up your program • Choose options for central or individual billing
• Provide employees with traveler insurance and assistance • Benefit from liability waiver protection against fraud and employee misuse Competitive rebates
The City’s commercial card program will be based on a competitive rebate schedule as opposed to line item pricing, allowing your organization to leverage efficient payment solutions at no direct cost while generating revenue relative to spend.

PaymentNet
We offer the City PaymentNet, our fully hosted online solution that requires no client-side software and is accessible from virtually any secure internet browser.

Streamline program management
Automate administration of your card program, simplify cardholder tasks and streamline account reconciliation with PaymentNet.

Be more efficient with the right tool
No software to install or maintain
• PaymentNet’s web-based solution means nothing to install • Our fully-hosted system means we take ownership of hardware platform needs, not you • Access PaymentNet on the go with our mobile website—great for cardholders, too V. REQUIRED BANKING SERVICES | 59 |
Be more efficient with the right tool
Handle everyday tasks more quickly and efficiently
• Access key information, address core tasks and make payments directly from the home page • Make real-time profile changes, adjustments of account controls • Reduce the need for repetitive manual effort with mass updates Monitor, analyze and report on your program spend—your way • Design custom reports to fit your needs--or choose from standard report options • Save time and schedule reporting to run automatically • Create and save report queries in a way that meets your needs Create hierarchy structures that meet your business needs • Save time and establish defaults to simplify reporting and transaction approval • Built-in hierarchy support gives authorized personnel access to a wide range of administrative options • Hierarchy structures allow cardholders to benefit from convenient, self-service features Set controls with real-time adjustments to promote adherence to expense policy • Enforce spend policies before a transaction is even initiated • Limit unauthorized usage while still giving employees exceptional flexibility • PaymentNet puts you in control, from the cardholder to the program administrator to the auditor Gain greater transparency and insights into your program spend • Minimize manual tasks while increasing administrative speed and accuracy • Provide transparency and accountability to management with a full range of audit trails • Get the information you need to enable you to break down and analyze your program spend Use a one-step, paperless process to capture the entire card application • Manage each step online—from card application to approval to card request within PaymentNet • Give program administrators full traceability and cardholders online status of their application • Save more time by establishing user access roles for each account during card issuance Upload data to your general ledger to streamline the posting process • Populate your general ledger as often as needed, automatically with the latest transaction data • Specify different record types, order and sorting based on your system requirements • Eliminate time-consuming manual input of data into existing general ledgers Maximize control—put essential functions at your users’ fingertips Get features and functionality not confined to the standard (and often limited) functionality of third-party reporting tools.

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Experience a new level of efficiency and control with PaymentNet Figure 9
Simplify account management
Appreciate the user-friendly, intuitive navigation developed by the largest U.S. commercial card bank issuer (Nilson Report, Issue 1243, June 2023).

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Stay current with a snapshot view of your program
Figure 10
Screenshot is for illustrative purposes only. Some features of the dashboard may not be visible depending on the organization and hierarchy settings.

We offer PaymentNet at no charge. To help you get the most out of PaymentNet, we provide comprehensive training for your program administrator, as well as a variety of training options and materials for cardholders and other users.

Your valuable data is protected through industry-proven Transport Layer Security (TLS) encryption technology. All sensitive data is masked, the login process is password protected and security access levels can be configured to help make sure that only authorized City personnel have access to critical information.

Program controls
We offer numerous card controls and key administrative features such as full hierarchy support, real-time adjustments of spend controls online and denial at the point of sale for transactions that do not meet your requirements.

The City’s program administrator can establish dollar, transaction, merchant category code (MCC) and cash advance limits at any level of your hierarchy: by individual, department or for the entire organization.

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Control options by hierarchy level
Figure 11
PaymentNet provides a variety of controls for all level of your organizational hierarchy.

Standard controls available for our commercial cards include:
● Dollar limits: Dollar limit controls include cycle spend, transaction amount, daily spend amount, monthly spend, and spend limits by MCC
● Transaction limits: Limits can be placed on the number of transactions allowed per day and per month
● MCC restrictions: Limits can be applied to MCCs with a dollar amount, transaction value or the number of transactions allowed per day
● Cash advance controls: You have the ability to control monthly cash advance amounts or totally restrict the ability to use the cash advance options
● Guidance line: Suspends your ability to continue to use the card when the total balance reaches its limit
The graphic below shows how you can change a cardholder’s account limits.

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Adjusting account limits
Figure 12
We enable program administrators to easily change account limits and velocity controls online.

User access roles
With PaymentNet, the City easily assigns user access roles to determine what users are able to see and what actions they are able to take within PaymentNet. An access role is comprised of three parts:
● Role: Defines applicable functionality (e.g., create new accounts or approve transactions) ● Hierarchy ID: Identifies the organization hierarchy location where the role is effective (e.g., division, department or line of business)
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● Scope/Scope of View: Defines the breadth of data to which the role can view (e.g., everyone in the division or just people in the department)
PaymentNet provides several pre-defined access roles:

Pre-defined access roles
Auditor Read-only access to all transactions, accounts, employees and reports Order Requestor View and request orders and applicable reports (virtual card programs only) Cardholder View and manage their own transactions, profiles and certain reports specified by a program administrator and, at your option, make online payments Transaction
Approver
Approve transactions
Application
Approver
View and approve applications submitted with Account Request Manager but cannot take any other actions in PaymentNet
Manager Approve their departments’ transactions and access reports specified by a program administrator
Program
Administrator
Receive universal access to all functions, including configuration features, and view/modify all transactions, employees, accounts and reports 1
1 This role can be customized to promote additional control throughout your organization.

Additionally, approvers and/or administrators can reassign approval tasks if the approver(s) have been set up previously and have the proper scope and authority to approve the request.

If a user is assigned more than one role, they can select the applicable role for each function and/or task.

This allows the user to focus on the functions and tasks specific to the role selected. The user can toggle between different roles easily and quickly.

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User roles in PaymentNet
Figure 13
User roles make it easy to manage the functionality and data each user has access to in PaymentNet.

5. Stop Payments
The City uses few stop pays per month and requires an automatic renewal process. Online stop pay process is required.
a. What are the time periods available for initial and renewal stop pays? Stop payments are effective for one year and can renew each year for six additional years.

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b. How is a stop pay extended/renewed? Are all transactions online? Stop payments are effective for one year and will automatically renew annually for six additional years unless revoked. The period can be extended after the seven-year time frame by replacing the stop payment request.

To streamline the City’s stop payment process, we offer the following options:
● Internet: Place stop payments online via the banking portal, either directly from within the “Stops” function or more efficiently by using the “Inquiry” function where the check numbers are validated against the issued items
● File Transmission: Send a stop (or revoke) payment transaction within the positive pay issue files, allowing stops to be processed in batch
● Manual: For back up, contact s Senior Service Specialist at the Platinum Business Service Center c. What is the deadline for same day action on stop pays? For same-day action, online stop payment requests must be received by 7:30 p.m. BPT (Bank Processing Time).
d. What information on current and expiring stop pays is available on- line? J.P. Morgan Access provides the following stop payment audit reports:
● Stop Payment Request Activity allows the City to search accounts or a single account, search by date or date range, check number or check number range, and by all users or one user. This report provides details for stops placed online via the banking portal. ● Stop on File History allows the City to search by account number. This report provides stops on file, regardless of the application used to place the stop request as well as an option to view all stops expiring within the next 30 days. This is regardless of the application used to place the stop request. ● Stop Payment Revoke History allows the City to search by accounts or a single account, search by a date or date range, check number or check number range, and by users or one user. This report provides details for revokes placed online via the banking portal. e. Will the on-line system verify if the check was cleared before accepting the stop pay? How far in the past will transactions be verified?
Yes. The system automatically checks 90 days of activity if the item has posted before accepting a stop submitted via the Stop Payment Request or Check Inquiry page (extended retention periods are available). If the item has paid, the user will be notified, but can choose to continue to place the stop. We encourage you to use the Inquiry function to research the full seven-year online paid check history, then use the stop payment link to place the stop payment.

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6. Reconciliation and Positive Pay
The City requires positive pay services with complete indemnification for fraudulent checks. Payee verification is not currently used but is desired. The bank must provide a fully automated, web compatible transmission process for positive pay. Check data transmissions will be made as part of each check run.

Manual check information must be able to be input online. Batch and individual transactions may be submitted.

We recommend using positive pay payee verification to provide an additional layer of fraud prevention protection. For payee verification, you provide the bank with payee names in your check issue file transmission, online file upload or by manual entry on J.P. Morgan Access.

While positive pay matches the MICR information of your presented check to the issue file, payee verification takes the additional step of validating that the payee name matches issue file payee information. Our payee name review digitally interrogates the payee name and also looks for alterations or additions above, below or to the right of the payee name that would change the payee identification. Mismatched items are visually evaluated to eliminate digital interrogation reading errors, and remaining items are sent in the daily positive pay exception reporting for decisioning.

Chase’s positive pay with payee verification
Figure 14
We also offer teller line positive pay, Post No Checks and check cashing controls to help protect the City from fraud.
● Teller line positive pay: Within one hour of receipt of the issue file, we update our teller line system.

When a check is presented for payment at a Chase teller window, the teller system determines the validity of the issued check prior to payment. We deny encashment on any items not found as matching open entries on the issue file. Checks deposited at a Chase ATM are screened against the positive pay records. ● Post No Checks service: If the City has a business account dedicated to electronic payments (ACH or wires) or depository (lockbox), you will benefit from our new Post No Checks service. Post No Checks prevents check debits from posting against a designated account automatically—with no monitoring required.
● Check cashing controls: With check cashing controls, the City can prevent non-Chase account holders from cashing checks at Chase branches or set a dollar limit for the maximum amount that can be cashed by non-account holders.

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For additional resources to help protect your organization against check fraud, review our Check Fraud Prevention Playbook.

Check fraud liability
We have been an industry leader in offering a wide a variety of sophisticated fraud protection services to protect our clients and the bank from financial loss due to payment fraud. The laws governing checks and negotiable instruments, primarily in Federal Regulation CC and the Uniform Commercial Code (UCC), and interpretation of those laws have been changing to reflect a shared responsibility and partnership between clients and their banks.

Therefore, we strongly recommend that the City use positive pay, payee name verification and other applicable fraud protection services, to prevent losses due to check fraud.

Each situation is different and will be examined and researched carefully by our Fraud Control team. The aspect of liability will then be determined on a case-by-case basis, after all the supporting facts have been reviewed.

Currently in most states, the UCC provides for defenses that can be raised to a claim of loss due to check fraud based on the following principles:

UCC principles
Ordinary care The observance of reasonable commercial standards that prevail in the area in which the person is located and with respect to the business in which the person is engaged.

Comparative negligence In situations where there is loss due to fraud, a court would compare the client’s negligence against the bank's negligence to determine who should be liable.

Contributory negligence The client could be found to have contributed to the loss if, for example, they fail to safeguard checks from forgery or alteration by a “reasonable commercial standard,” and that failure to safeguard contributes to the forgery or alteration.

Reasonable promptness Clients must exercise reasonable promptness in examining statements, or items to determine if any payment was not authorized and to notify the bank.

The UCC allows for certain terms to be modified by agreement, and most banks, through their account terms, require clients to review their statements within 30 or 60 days and report any errors.

The City does not utilize reconciliation on its accounts but may consider partial recon under this contract.

It would need the ability to download clearing information to the internal general ledger system.

We offer the City a full reconciliation of outstanding and paid checks, with the option of reconciling accounts by the week, month, fiscal or calendar year in a format tailored to meet your needs. You provide us with detailed check issue data, including account numbers, check numbers, issue dates, dollar amounts and reference information (up to 15 bytes). The City chooses how you wish to supply this data: In a file transmission or by upload or manual key entry to J.P. Morgan Access, as needed by the check activity in each account.

With check issued data, we will perform a full reconciliation of activity in the account, delivering a reconciliation report package through our online portal. The standard full reconciliation package contains an account statement, balance sheet, paid and outstanding check listing, plus a summary including check number, issue date, amount paid and paid date.

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Account reconciliation reports
Figure 15
The City’s reconciliation report will be available online via J.P. Morgan Access within five business days from the close of a cycle cutoff.

Download of paid checks
Download reconciliation reports in PDF and daily paid files in TXT format from the Recon Output tab in Access Checks.

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Account reconciliation reports
Figure 16
Data Download
Use the Data Download feature of the banking portal to reconcile accounts or perform extensive research on check activity. Data Download allows you to download disbursement transaction detail information in a CSV or QuickBooks format file (QBO).

Transactions available for ARP include outstanding and cancelled check status transactions along with paid, stop payment and return transactions. Non-ARP accounts only have paid, stop payment and return transactions reported.

To meet your reporting needs, determine filters from these options:
● Account number
● Transaction status category
● Date paid
● Effective date
Each request is tracked and delivered in your inbox on the online portal.

With activation of reconcilement service, you incur a monthly maintenance fee on your account analysis statement.

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Information reporting
We also offer J.P. Morgan Access Cash Reports via our File Transmission service. These formats provide current and prior-day reporting of your balances and transaction activity that posted to the account (i.e., does not include outstanding checks)
● Balance and Transaction Detail reports available online, downloaded to Excel and PDF ● Export files in CSV, BAI2 and QuickBooks (QBO)
● ISO camt.052/.053/.054 and Swift MT942/MT940 formats
a. Describe data transmission file and timing requirements for check registers. Are transmissions charged by file and by detail item?
Please see Appendix 8 for our account reconciliation file format requirements. Please see Attachment A for all pricing.
b. Is payee positive pay input for manual checks available on-line? Describe the process.

Yes, the City can manually enter issues via our online portal. Information can be provided to us until 7:45 p.m. PT for same-day processing in the account reconciliation application. Any entries received and accepted after the deadlines are included in the next day’s ARP processing. c. Is exception reporting and handling managed totally online? Describe.

Yes. Using “PUSH” technology, J.P. Morgan Access provides a daily positive pay email notification that indicates accounts with exception items (or discrepancies) or a notice stating “no items today.” Notification is sent by 11:00 a.m. local bank time and includes a link to the J.P. Morgan Access logon page. Local bank time is defined by the account’s processing state.

If there are exception items to view, your authorized user logs on to J.P. Morgan Access to review the list.

Once logged on, authorized users click the check number of each item to view images of the front and back of the check, select the pay or return button for each item (or select the pay all or return all button), and submit the decision to the bank. You have until 4:00 p.m. local bank time to notify the bank of your pay/no pay decisions.

Optionally, receive a reminder email notification. If outstanding exceptions still require a decision at 3:00 p.m. local bank time, the bank sends out a reminder email notification indicating that the bank is awaiting a final payment decision. A default decision is applied to any positive pay exception item that is still awaiting a payment disposition by 4:00 p.m. local bank time. While the typical default is setup as return, you determine specific default parameters during implementation.
d. At what specific time is positive pay exception information reported to the City? Notification is sent by 11:00 a.m. local bank time.

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e. How is notification made? Is there daily notification of exceptions? Must the staff member be online to receive notification or will alerts be sent?
Our online portal provides a daily positive pay email to indicate whether each account has exception items (or discrepancies) or a notice stating “no items today”.
f. At what specific time is the response required for City exception elections? You have until 4:00 p.m. local bank time to notify the bank of your pay/no pay decisions. g. Does the bank review exceptions (scrub) errors for possible repair before creating a City exception item?
Yes, we review and scrub any exceptions to verify that there are no misencoded items. h. Are all checks, including those received over-the-counter by the tellers, verified against the positive pay file before processing? How often is teller OTC information updated? If not verified, what are the process, liability, and security on OTC transactions?
Checks presented to tellers and for deposit at ATM’s are screened against the positive pay records. Our teller line system updates within one hour of receipt of an issue file. Please see the first response within this section (Section 6 Reconciliation and Positive Pay) regarding check fraud liability. i. Describe your partial reconciliation services including specific transmission requirements and reporting. What reports are available?
With check issued data, we will perform a full reconciliation of activity in the account, delivering a reconciliation report package through our online portal. The standard full reconciliation package contains an account statement, balance sheet, paid and outstanding check listing, plus a summary including check number, issue date, amount paid and paid date.

Report transmission methods
● Daily paid files can be downloaded in TXT format from the online portal. ● Our Data Download feature within the online portal allows you to download disbursement transaction detail information in a CSV or QuickBooks format file (QBO). ● Cash Reports can be sent via our File Transmission service. These formats provide current and prior day reporting of your balances and transaction activity and do not include outstanding checks.

These can be downloaded to Excel and PDF, exported to CSV, BAI2 and QBO, or transmitted in ISO camt.052/.053/.054 and Swift MT942/MT940 formats.

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7. Funds Transfer and Wire Services
The City currently has only limited wires with an average of one incoming wire and one outgoing wire a month along with an average of one internal book transfer per month. Wires are largely domestic.

International wire capability is required.

Acknowledged.

Incoming wire transfers must receive immediate, same day collected credit. Wire initiation must be available online. The City requires that wires be released the same or scheduled business day if information is provided by the established deadline. The City will require compensation for delays caused by the bank at that day’s Fed Funds rate.

The cutoff time for incoming credits to receive same-day credit is the close of Fedwire at 3:45 p.m. PT. The City can use our online portal to initiate wire transfers using a variety of payment options. Strict control over user access to functions and accounts facilitates compliance with internal audit requirements, while enhancing security.

Accounts can be held with Chase or other financial institutions.

The cutoff time for originating wires in the online portal are listed here. Payments that require repair will have a cutoff time 30 minutes prior to the stated times below. Payment instructions received after these cutoff times will be completed on a reasonable-effort basis.
● Fedwire: 3:15 p.m. PT
● Book transfer/Internal: 4:15 p.m. PT
● Drawdown (via Fedwire): 2:30 p.m. PT
● International (USD via CHIPS): 2:30 p.m. PT
We will compensate the City for the full amount of any penalty or interest expense resulting from a bank error, subject to our Account Terms and Conditions and the applicable Product Service Agreements. a. Are wires and book transfer transactions initiated online? Yes, our online portal allows for both wires and book transfers. b. Can wire status be monitored online? Is online notification on wires provided? Our online portal provides a convenient way to track the status of your payments online. You can view files, batches and transactions within the system to identify the status of payments transmitted using our online platform. Status fields include the following:
● Pending Approval: Awaiting approval of the transaction ● Partially Approved: Awaiting multiple approvals of the transaction ● Pending Release: Awaiting release to the bank after the transaction has been approved V. REQUIRED BANKING SERVICES | 74 |
● Released: When the transaction has been released to the bank ● Delivered: When the transaction has been approved and released in J.P. Morgan Access and the transaction has been delivered to the appropriate clearing office ● Rejected by Bank: When the bank rejects the transaction, please note that the status will continue to remain as delivered for the following transactions: book transfers or drafts from Chase U.S. accounts.
● Completed: When the bank has routed the transaction through the clearing and the clearing has sent an acknowledgement back to the online portal that it is completed. ● Rejected: When a transaction has been rejected by an authorized user ● Saved: Used if the transaction information is not complete and the user wishes to save the transaction as a draft
The online portal allows users to customize page views to identity the status of payments. Transaction history and workflow detail are also available. Additionally, Daily and intraday reports are available on J.P. Morgan Access, with real-time information refreshed each 15 minutes throughout the banking day.

The City may also use the Transaction Completed alert available via the online portal or email to monitor transaction completion. For sample reports, please refer to Appendix 5. c. Can repetitive templates be created and stored? Is there a fee? J.P. Morgan Access offers two kinds of templates to support the setup of repetitive wires. Standard templates (customer-verified, repetitive instructions) are client controlled. They are stored in the online portal and there are no bank charges associated with them.

Enhanced Templates, also known as bank verified lines, are setup by the client but have the added feature of bank verification prior to use. These repetitive lines are stored with the bank and there are charges associated with them. Please see Attachment A for all pricing. d. Describe the wire security protocol. What level of authorization/release do repetitive or non-repetitive wires require? Is dual authorization required for all wires? Helping the City prevent wire transfer fraud on your accounts is a high priority for Chase. In addition to the J.P. Morgan Access security features, the administration functions and implementation options offer you the ability to choose settings and features that help prevent fraud, including:
● Our online portal uses multi-layered security designed to protect your data and transactions ● Our online portal automatically prevents a single user from performing all actions (create, approve and release) on a single payment, even if the user is entitled to create, approve and release ● Our online portal provides two-factor authentication via RSA SecurID® token technology for those functions that demand an extra level of security
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● Portable Security Transaction Protocol (PSTB), a patent-pending technology developed by Chase, uses RSA SecurID devices to digitally sign transactions and provide a level of security formerly available only using digital certificates
● The City can set up J.P. Morgan Access with strict controls over user access to functions and accounts, helping to enforce compliance with internal audit requirements while enhancing security; some of the available fraud prevention options include:
 Enabling IP filtering to restrict access by limiting authorized users' ability to log on from only IP addresses you designate
 Customizing the payment approval process by creating rules that determine the number and identity of approvers for different types of transactions, including separate approval rules for repetitive templates and free-form wires, as well as the order in which that review must occur  Separating duties, accounts and approval workflows, the City can help reduce the risk of fraud or compromised data; your security administrators are the only individuals able to assign users with transaction initiation privileges
 Limiting each user to a single, designated computer
 Requiring transaction and daily aggregate limits at the account and user level as a security measure to help reduce losses associated with erroneous or unauthorized transactions  Creating templates with payment details to prevent wires from being initiated and executed without prior approval of the recipient bank account numbers and template details As mentioned in the 2nd bullet above, one user cannot perform all steps in releasing a wire. e. Is future dating of wires and transfers available? How far in advance? Yes, wire payments may be sent up to 365 calendar days in advance. f. Can international and FX wires be sent from the online system? The City can initiate wires in U.S. dollars to international recipients. g. Describe wire detail reporting including for addenda.

The following information is provided on incoming and outgoing wire transfers on both a previous-day and current-day basis:
• Dollar amount • Received from party (incoming)
• Bank reference number • By order party (outgoing)
• Client reference (the City’s reference) number • Paid to party • FED/CHIPS/Swift reference number (including
Swift gpiI UETR, if available)
• Beneficiary and Ultimate Beneficiary information
(if available)
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• Payment details, if included • Straight-through or repair indicator • Date and time of receipt of wire instruction • Unique location identifier (ULID), if available Please refer to Appendix 5 for a sample wire detail report. h. Describe wire access on mobile devices.

With the payments approval feature, users can easily approve and reject wires, account transfers and book payments that are initiated Online. Payment workflow, rules and user entitlements from our online portal are integrated for a seamless experience. Mobile also supports digital signing for secure authorization of payments.
i. State wire access and cut-off times.

Wire entitlements are established by City designated Security Administrators. The cutoff time for originating wires in the online portal are listed here. Payments that require repair will have a cutoff time 30 minutes prior to the stated times below. Payment instructions received after these cutoff times will be completed on a reasonable-effort basis.
● Fedwire: 3:15 p.m. PT
● Book transfer/Internal: 4:15 p.m. PT
● Drawdown (via Fedwire): 2:30 p.m. PT
● International (USD via CHIPS): 2:30 p.m. PT
j. Describe the processing of book debits/credits.

You can make same-day book transfers between your accounts and other client accounts held at Chase.

Same-day ACH book transfers between accounts at Chase process with an effective date of that same day if the file arrives by 4:15 p.m. PT. Depending on the time of transmission, transactions will post at the end of the business day. Next-day settlement can be made at your request. k. State the bank’s policy on the use of ledger balances for outgoing wires in anticipation of scheduled activity or incoming wires.

All transactions, including wires, are pre-funded. The funds will need to be available in the City’s account when the transaction is initiated.
l. Can internal account transfers be processed totally on-line? Book debits/credits? Is there a charge for internal transfers?
Internal transfers can be processed using our online portal. Please see Attachment A for all pricing.

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8. ACH Services
The City expects to continue moving toward more ACH transactions for vendor transactions. ACH is currently used for payrolls and periodic transfers but no fraud filters are in place. The City requires prenotification and possible filters/blocks on all accounts. The bank must be a member of NACHA.

Acknowledged. We routinely process prenotifications or “prenotes”.

Our policy on pre-notifications
Prenotifications are no longer required, so it’s up to the originator to choose if they’re necessary. We recommend:
● Using prenotifications if you have time to respond to corrections or errors generated by a notification of change on the prenotification and correct the information prior to the first payment ● Prenotifications be originated at least three banking days prior to live-dollar origination, but we can accommodate any timing scenario
The prenotes are charged as standard ACH transactions.

ACH fraud prevention
We offer you protection from unauthorized ACH items. Protect your account from unauthorized ACH transactions with ACH Transaction Blocking with ACH Positive Pay. This service offers protection from third-party organizations who originate ACH transactions against your accounts.

The ACH Transaction Blocking with ACH Positive Pay self-service tool can make a difference ACH Transaction Blocking is a fraud mitigation solution available in J.P. Morgan Access that allows you to add ACH debit and/or ACH credit block setups at the account level.

Additionally, we offer ACH Positive Pay, a solution that works in conjunction with ACH Transaction Blocking, to review and decision items prior to posting to the protected account.

Benefit from the following with ACH Transaction Blocking with ACH Positive Pay:
● Set your blocking criteria
● View six months of ACH debit and credit blocked transactions and items for review history online ● Entitlements for viewing profiles or setup and maintenance ● Security administrators can enable or disable dual control and ACH Positive Pay

ACH FRAUD IS ON THE RISE
You decide to “block” or “allow”:
 All ACH transactions
 Specific originators
 By dollar amount
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● Entitled users have the ability to select multiple ACH Positive Pay exceptions for review and decision prior to transaction posting
ACH blocks and rules can be setup through Payment Control Center.

A list of debits and credits not affected by ACH Transaction Block with ACH Positive Pay In accordance with customary practices, as well as applicable law and rules, the following types of ACH-related debits/credits will not be blocked:
● ACH debits to your account to offset ACH credit entries originated by you through the bank ● Reversals of previously received ACH credits
● Reclamation entries, as defined in the Nacha operating rules ● Debits or credits to your account initiated by the bank to correct processing errors, effect back-valuations or make other adjustments
● Returns or reversals of ACH debits or credits originated by you ● Fees or charges owed for services provide by the bank NACHA
We are members of the National Automated Clearing House Association (Nacha), EPN and other industry councils.
a. Is online ACH service available for individual transactions as well as by transmission for batched files?
Yes, our online portal can be used for both individual transactions and batched files. Our fully integrated, browser-based platform provides easy-to-use applications for all of your information, compliance and portfolio management needs.

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Originating low volume transactions
Facilitate your origination of lower volume and manual entry of ACH payments—from payroll to disbursement to concentration—with J.P. Morgan Access.

A user-friendly experience to fit your style
Create all key transactions with just a few clicks (wire and account/book transfers, ACH, liquidity investments and foreign exchange) from a single page. With full customization, create filters or templates with locked fields for added security.

Use templates to simplify your process
Common sets of intuitive templates for each payment method are available to you. For example, easily create beneficiary templates with lockable and editable fields to set up recurring payments.

There are many ways to customize the system. J.P. Morgan Access can be configured with flexible sorting and filtering options to display only the features you use—in the order you prefer.

Create templates to support a full menu of ACH transactions with all template information stored securely with the bank:

Templates for all ACH transactions
• Consumer payments
• Consumer collections
• Payroll payments
• Corporate/vendor payments
• Corporate/vendor collections
• Cash concentration
• Cash disbursement
• Federal, state and municipal payments
• Child support payments
• Funding other Chase accounts on a same-day basis
Transactions based on templates or entered in free-form mode are created by you, then batched, approved and released for processing.

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Sample template details page
Figure 17
ACH files generated through the banking portal are retrieved and processed several times each business day for next-day processing (or same-day, when applicable).

Advantage for the City: ACH files generated online are delivered for processing nine times each business day, Monday through Friday.

Create free-form transactions online
For non-repetitive payments, the City can create free-form ACH payments without the need to establish a stored template.

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Sample free-form payment initiation page
Figure 18
ACH NACHA file import is easy to submit
Choose the automated interface on our banking portal to upload a standard NACHA-formatted file. It’s easy to submit payments for approval and release.

ACH NACHA import:
● Available for CCD, CCD+, PPD, PPD+, CTX, IAT and WEB
Standard Entry Class Code transactions
● Supports the transaction codes for checking, savings, general Ledger and loans
● Works with comma-delimited or fixed-width files that are uploaded using the template functionality
Same-day processing is available
● You can send same day ACH credits and debits
● All ACH credit and debit transactions, except for international transactions (IATs) and transactions above $1,000,000, are eligible for same-day processing

FILE IMPORT FEATURE
You receive:
 Future-dated warehousing
of up to 60 calendar days
 Ability to create settlement
offset at transaction level or
batch level
 Next-day settlement option
for transfers to/from Chase
accounts
 Option to create addendum
record for all payments
V. REQUIRED BANKING SERVICES | 82 |
● All data received after 12:15 p.m. PT (11:15 a.m. PT if prefunded) is ineligible for same-day b. Can the bank provide same-day, one-day, and two-day transactions? We can provide same-day, one-day and two-day origination for ACH. The cutoff time for same-day origination is 11:00 a.m. PT. The cutoff time for one-day and two-day transactions is 7:00 p.m. PT. ACH PPDs must be received two business days in advance.
c. Will the City be debited on initiation or settlement? The City will be debited upon initiation.
d. What is the policy and process for handling of ACH returned items? To confirm that a return belongs to the client, we check the account number, date, individual ID and trace number. Returned funds post at the end of the banking business day, and information concerning these items is available on our current-day report at the opening of the next banking business day.

Return Item Processing System
We carefully designed our return item processing system to minimize the problems exception items can cause when acting as the interface to help provide the City with accurate data.

The return item processing system can provide return items via direct transmission, secure email or via our online portal. The bank strongly recommends data transmission options to reduce delivery problems, eliminate mail delays and minimize the time between the return and the time to receive notification of return.

Process
Return item processing uses key fields from each returned item to retrieve, from a historical file, the original record sent to Chase. This file contains records for ACH transactions initiated in the past 15 months. ● If the computer search does not locate an exact match, the entries are declined to the Receiving Depository Financial Institution (RDFI)
● If the correct item is found, data from the original record is supplied to the City with the reason for the return
● If the appropriate record cannot be found in the history file, we return the entry to the returning financial institution for correction and resubmission
The bank issues one entry against the City’s account for the total of the return file. This simplifies reconciliation, because all returns—both electronic and paper—are in a single return transmission.

Returned credits also are included in the return data file, and will be credited to the City’s account in a separate transaction. Return entries are not netted against one another, or against the new item settlement.

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e. Can ACH items and files be future dated? How far in the future? Yes, ACH items can be future dated. ACH payments through the online portal are warehoused for up to 60 days in advance of the value date.
f. What specific filters and blocks are available? How are items reported? Please see the first response in this section (Section 8. ACH Services) for a description of ACH Transaction Blocking with ACH Positive Pay. Entitled users can select exceptions for review and decision within the online portal prior to transaction posting.
g. Do you offer AVS (Account Verification Services) for the per-notes or on ACH transactions to combat fraud?
We are not offering AVS (Account Validation Services) at this time. h. What process is used for file and item reversals and deletions? Batch reversals can be delivered via an import of a Nacha formatted reversal batch utilizing the Access Import capability. We offer a secure interface via J.P. Morgan Access for item reversals.

We can facilitate ACH deletions via J.P. Morgan Access. Deletions must be entered into the banking portal by 1:00 p.m. PT. The remainder of the file will be released. i. Are ACH addenda shown in their entirety on-line and on detail reporting, reports and statements? How is the addenda information made available – online and on reports? You may elect to receive electronic payment remittance information such as ACH addenda in a number of ways, including:
● Online via Receivables Online
 Data or static downloadable report
 Electronic Remittance Report in PDF form
 Payment Notification Alerts setup to alert the City of important payments ● File Transmission
 Merge onto a lockbox data file in BAI or EDI X12 823 format  Separate EDI X12 820 data file (J.P. Morgan File Transmission Reporting Service) j. What protective measures will the bank take to prevent or recover from electronic fraud? Our online portal helps prevent electronic fraud by allowing the City to designate the rights of each user on the platform, and providing comprehensive and configurable user entitlements, limits and approval workflow V. REQUIRED BANKING SERVICES | 84 |
to provide optimal control. Available services accommodate a wide range of security options, including dual control among users and daily or transaction limits.

Each user can be restricted by dollar amount and function. Dollar amounts may be either single transaction, daily aggregate or both.

By separating duties, accounts and approval workflows, the City can help reduce the risk of fraud or compromised data. The City’s security administrators are the only individuals able to assign users with transaction initiation privileges.

Standard security administrator model
Figure 19
*You may waive the requirement that a security administrator cannot make a change to their own profile providing a second security administrator approves those changes.

Additionally, J.P. Morgan Access automatically prevents a single user from performing all actions (create, approve and release) on a single payment, even if the user is entitled to create, approve and release. At the point of release, the application requires that two different users be involved in the payment life cycle, which includes the creation, approval and release of the payment, as well as the creation, approval and activation of any underlying template. Therefore, even if users have all three entitlements, they will still not be able to take all three actions on a payment on their own.

Recovery from electronic fraud
A senior service support specialist on the Business Research team handles research and adjustment requests. The senior service support specialist works with the appropriate operational colleagues to help make sure we handle your request and/or adjustment in a timely and accurate manner. In addition, the senior service support specialist has the authority to escalate whenever necessary to help make sure that issue resolution occurs to your satisfaction.

Please see our Cybersecurity Overview in Appendix 9.

V. REQUIRED BANKING SERVICES | 85 |

9. Safekeeping/Custody Services
The bank may be required to provide a book-entry safekeeping/custody services for securities owned by the City. All City investments will be made by the City or its investment advisor and instructions for clearing and safekeeping will be transmitted to the bank in writing or on the bank’s automated system. It is anticipated that with a new investment advisor contract securities will require safekeeping or custody.

We respectfully decline to offer safekeeping and custody services at this time.

10. Account Analysis
Monthly account analysis reports must be provided for each account and on a relationship basis. Within five business days of the City’s receipt of the account analysis and subsequent approval of the fees by City the bank may direct debit the designated account for fees due if compensation is being calculated on a fee basis.

Account analysis statements are generated monthly and are available on the sixth business day after the close of your accounts’ billing period. You can use the online portal to view, print and export all sections of your account analysis statement in either PDF, Excel or CSV formats. In addition, we can send statements via direct transmission.

We offer monthly settlement with fees debited on the 15th calendar day of the month following the close of the billing period.

A complete account analysis will be required monthly regardless of the payment basis. a. When is the analysis available online each month?
The account analysis is available on the sixth business day after the close of your accounts’ billing period. b. How long is it maintained online?
Account analysis statements are available online for up to 13 months. c. Provide a sample.

Account analysis statements in PDF format show each section of billing information in a separate table. Total charges are displayed at the end of each table for clarity.

V. REQUIRED BANKING SERVICES | 86 |
Balance and Compensation Analysis section
Figure 20
Activity Summary section
Figure 21
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Relationship Balance Compensation History section
Figure 22

11. Monthly Statements
The bank must provide monthly account statements on all accounts with complete supporting documentation. The City currently receives and requires statements online. All accounts must be on a calendar month cycle. Timeliness of statements is critical and non-performance will be grounds for termination of contract.

Acknowledged.
a. When are monthly statements available online each month? Monthly statements are available within two business days after the statement cutoff date. b. How long are they maintained online?
Monthly bank statements are available for up to seven years. c. Does the statement include images?
Bank statements include images of checks paid and correction entries made during the statement cycle.

V. REQUIRED BANKING SERVICES | 88 |
d. Provide a partial sample.

The account bank statement in PDF format shows each section of the bank statement in a separate section—summary, grouped transactions (e.g., checks paid, electronic withdrawals), and daily ending balance. Totals are displayed at the end of each section for clarity.

Summary section
Figure 23
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Grouped transactions section
Figure 24
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Daily ending balance section
Figure 25

12. Account Executive
To ensure smooth contract implementation and the continuation of service levels, a specific account executive and a back-up at the local bank must be assigned to the City account. These individuals will be responsible for coordinating services and expediting solutions of any problem encountered. The account V. REQUIRED BANKING SERVICES | 91 |
executive should be available to meet with City staff to review the relationship and discuss banking matters as needed and, at a minimum, annually.

The City can be confident in the Chase team. Part of our commitment to the City is having the appropriate individuals assigned to your relationship team and providing outstanding client service. We take a consultative team approach to building relationships with our clients.

We assign a skilled relationship team, which is made up of professionals with a variety of expertise, who will listen carefully and proactively and will provide targeted ideas to energize your business. ● Relationship Manager: Eric Mouradian will serve as the lead relationship contact at Chase. Eric is a highly experienced client advocate and maintains responsibility for the overall relationship with the City. ● Cash Management Consultant: Annette Adam will lead the treasury services team and consult with the City on an ongoing basis to maintain exceptional treasury management arrangements specifically tailored to meet the City’s needs.
● Branch Manager: Nicole Arno will address issues promptly and effectively and act as a standard bearer of Chase to create a world-class customer experience.

Brief biographies and contact information for your relationship team are provided on the following pages.

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Eric Mouradian
Role GNP Relationship Manager
Address 796 E Shaw Ave, Floor 2
Fresno, CA 93710
Phone (559) 490-0515
Email [email protected]
Responsibilities
Eric will lead Chase’s banking team with a focus on the quality and delivery of our services.

He will:
• Serve as your primary point of contact for the bank’s full capabilities • Recommend products and services that meet your needs and goals, including financing solutions, treasury management and other banking services
• Oversee delivery of products and services, including financing, treasury services and other financial services • Address your overall satisfaction with your Chase banking relationship Biography
Eric Mouradian manages a Portfolio of Government and nonprofit clients in the Central Coast and Central Valley. Eric has over 21 years of experience in financial services, with the last ten years being in the Government and Not-forProfit segment and eight years at Chase. He is a graduate of California State University Fresno with a degree in Business Management earning a certificate in Entrepreneurship and a Minor in Armenian Studies. My goal is to serve as the primary contact for the City of Riverbank for all facets of Chase services to drive efficiencies, save time and money.

V. REQUIRED BANKING SERVICES | 93 |
Annette Adam
Role Cash Management Consultant
Address 300 S Grand Ave, Floor 04
Los Angeles, CA 90071-3109
Phone (213) 621-8435
Email [email protected]
Responsibilities
Annette will assist the City in resolving cash flow and efficiency challenges by providing information and offering ideas from Chase’s Treasury Services team.

She will:
• Recommend cash flow optimization strategies, including ways to streamline financial processes • Assist you in realizing day-to-day operational efficiencies in alignment with your treasury service goals • Provide targeted information to you about new products, market developments and industry trends • Monitor the City’s implementation for successful service delivery Biography
Annette Adam is a Senior Cash Management Consultant in California for Chase Government and Not-For-Profit Banking. Annette has been in cash management for over 25 years and has held a variety of roles such as sales consultant, account manager, product management, technical sales and global implementations.

Annette is a Certified Treasury Professional (CTP) providing a consultative approach to meeting clients' needs by offering transaction banking solutions and services. She continues to follow industry trends to stay informed of best practices. Annette shares that knowledge with her clients to make sure they are aware of the newest products and services to keep their operations running effectively.

V. REQUIRED BANKING SERVICES | 94 |
Nicole Arno
Role Branch Manager
Address 2609 McHenry Ave., Floor 01
Modesto, CA 95350
Phone (209) 529-7984
Email [email protected]
Responsibilities
Nicole will:
• Address client issues promptly and effectively
• Act as the standard bearer of Chase and create a world-class customer experience • Educate clients on how to use our digital platforms to bank and invest when, where and how they want • Build partnerships with local businesses to build the brand in the local market area through strong community involvement
• Build relationships by promoting a client/customer centered organization and proactively addressing customer needs
• Create an environment that encourages team members to provide an exceptional customer experience and a dynamic and engaging culture
• Actively identify, coach, develop, motivate, and support employees so that they can provide superior service to every customer
• Work with individual bankers and Associate Bankers to identify customer needs • Create strong partnerships and work with branch partners, including Financial Advisors, Home Lending and Business Banking
Biography
Nicole Arno is the Branch Manager for McHenry Ave. in Modesto, California. She has been with the bank since 2019 in a branch manager capacity. She is a native of the Modesto area. She is a graduate of CSU Stanislaus. She is married with 2 children under the age of 10. She is very involved in the community and loves to volunteer when she gets the opportunity.

V. REQUIRED BANKING SERVICES | 95 |
a. What level of support is provided by the local representative? Are other contacts required with bank contacts/departments for any general situations?
The Platinum Business Service team is an extension of your local Chase relationship team. Timely communication between the senior service specialists and your relationship manager, Eric Mouradian, allows the sharing of information and eliminates the need for Chase to repeat issues or concerns. b. How often does the representative plan to meet with the City on services? Upon completing contracts and reviewing your business processes, we meet on site with the City as frequently as necessary to develop a detailed statement of work and implementation plan. Once that is in place, we hold weekly meetings, some by phone or telepresence, others in person. Including all relevant stakeholders helps make sure our efforts result in successful transition.

Once your new services begin, we commit to meeting with you quarterly or more frequently as needed so that both the City and Chase are consistently aligned in our focus. c. Provide the name and title of the proposed account executive and the name and position of the backup representative.

Your account executive will be Eric Mouradian. He will be supported by cash management consultant, Annette Adam, and the Platinum Business Service team.

13. Overdrafts
Every effort will be made to eliminate daylight and intra-day overdrafts. However, because this situation may arise, state the bank’s policy regarding account and total account overdraft policy. The City prefers aggregation of accounts for overdraft purposes.
a. Are all accounts aggregated for overdraft calculation purposes or do accounts stand-alone? We charge for the use of end of day (EOD) uncollected funds by applying a daily variable overdraft (OD) rate to individual DDAs.
b. State the rate basis for intra-day and overnight overdrafts.

Daylight overdrafts are referenced in the context of intraday liquidity (Fed daylight overdraft) usage. The bank does not charge for intraday or daylight overdrafts.

The formula for EOD negative collected balance fee is as follows:

V. REQUIRED BANKING SERVICES | 96 |
Negative collected balance fee calculation
(Negative collected balance x OD rate* x number of days overdrawn) 360 days
*OD rate = Chase’s Prime +3%
VI. REQUIRED MERCHANT SERVICES | 97 |
VI. REQUIRED MERCHANT SERVICES
To be considered, the proposal must include a response to each of the questions in this Section and all associated fees to provide that service must be detailed on Attachment B.

Add any level of detail on descriptions and/or fees as necessary for complete disclosure.

It is the City’s intent that the contract negotiated between the City and the Merchant Services Provider selected through this process will encompass all the services and conditions required in this RFP.

Preferably one institution would provide both bank depository and merchant services but it is not necessary and proposals for one or both of the services will be accepted.

Full and concise responses should be provided for all the following questions.

Merchant services are considered an integral part of City services for our departments and for our citizens. The City currently has several merchant service accounts spread between providers. The bulk of the charges come through Xpress Bill Pay which processes through Chase Paymentech. ● There is an online bill payment account with Xpress Bill Bay with payments processed through Chase/Paymentech.
● In the City Hall lobby multiple types of payments are processed directly through WestAmerica. ● The Recreation Department uses the program Rec Desk which then utilizes Authorize.net as a gateway but processes through West America Bank.

The information available on these volumes and ticket averages is shown on Attachment B on the MS History Tab. In summary the statistics on these accounts are:

WestAmerica Bank Accounts: (two accounts combined)
Mastercard Average Ticket $245
# of Items 32
Amount $13,503
Visa Average Ticket $169
# of Items 300
Amount $36,460
Discover Average Ticket $224
# of Items 20
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Amount $740
*only one AMEX charge was made in the past year.

Payments processed through Chase/Paymentech:

MC CR Items 142
Sales $ 52,688
Avg Tkt $ 308
MC DR Items 88
Sales $22,212
Avg Tkt $308
VISA CR Items 328
Sales $82,950
Avg Tkt $244
Visa DR Items 818
Sales $205,777
Avg Tkt $222
Discover CR Items 23
Sales $5,738
Avg Tkt $231
VI. REQUIRED MERCHANT SERVICES | 99 |
The current equipment for all merchants is owned by the City. The City currently accepts Visa, MasterCard and Discover credit cards as well as MC o r V i s a debit cards. The City does not accept American Express. There is no capability for PIN usage.

Provider must be affiliated with a regional or national financial institution.

The City is seeking a vendor which will:
● process credit and debit cards at POS equipment provided by the vendor on sale or lease; ● process credit and debit cards from an online portal; ● transmit a payment transaction flat file on a daily basis securely; ● remit funds daily to the City via wire or ACH; and
● provide an online merchant portal to provide City administration with real time, customizable transaction information.

The City wants to minimize processing costs to the City and its citizens and maintain operational efficiencies in taking credit and debit card payments in its various locations. Services will include the acceptance of both POS, with chip and tap services, and online transactions. Efficient card acceptance and interface processing/authorizations will be critical and timely monthly electronic reporting will be required along with professional customer service levels.

The service provider must be affiliated with a national or regional financial institution.

The following guideline criteria will be used to evaluate the proposals:

Cost of required merchant services and long-term costs
Capabilities of automated services and additional services proposed
Customer service offered and proven
Services meeting City needs
Internal controls and security offered
Financial strength of the Company
VI. REQUIRED MERCHANT SERVICES | 100 |

REQUIRED MERCHANT SERVICES

1. Firm Stability and Background
a. Describe the Provider’s background as a merchant services provider including major lines of business and name, number and location of divisions or operating units. Provide a brief history and background.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $4.14 trillion and operations in over 100 markets. We have over 300,000 employees that serve millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients. For more information regarding the Firm, see www.jpmorganchase.com.

Merchant Services is a trusted industry leader in payments processing and a critical line of business under our J.P. Morgan Payments group, helping clients optimize, grow, simplify and protect their payments. More than 4,000 Merchant Services’ employees help organizations like the City implement and advance more secure and efficient payments programs that matter most to your customers, while establishing an optimal processing environment to help you streamline operations and optimize the cost of doing business.

Our market leadership is more than just numbers. We actively participate in industry and regulatory initiatives, and we are a leading institution in the development of international industry standards. We hold important positions on committees that shape the course and direction of each market where we provide customer payment solutions and pass the benefits of this influence and experience on to our clients.

Our global merchant processing volume for 2023 was more than $2.41 trillion and comprised of clients across a broad range of industries, segments and locations. Our proprietary platforms enable us to offer the City integrated solutions for all major payment types – from credit and debit processing to digital, alternative and mobile payment options. We support a variety of point-of-sale and card-not-present environments while providing security and reliability and a full spectrum of payments services we can tailor to meet your objectives.
b. What national or regional financial institution will the Provider be affiliated with? Name the institution and detail the affiliation terms including years of affiliation.

Merchant Services is a trusted industry leader in payments processing and a critical line of business under our J.P. Morgan Payments group, helping clients optimize, grow, simplify and protect their payments for more than 35 years.
c. Describe the organizational structure as it applies to service provision and customer service.

Chase Paymentech has its own service and customer service support. All customers have 24/7 support to help with all technical and service related issues. Our support structure is comprised of the following:
● Toll-free support at (888) 886-8869.
● Your dedicated relationship manager, Eric Mouradian.

VI. REQUIRED MERCHANT SERVICES | 101 |
d. Is a third party used for any other segment of the service? We do not currently use a third-party to process and settle transactions, but we occasionally work with third parties to provide you with value-added services.

2. Firm Competitive Position and Future Commitment to Providing Services a. What differentiates the Provider and its service from that of other Providers? Chase Paymentech is both a processor and acquiring bank, which means faster processing without utilizing a third party. We also offer customer insights to our merchants from credit card processing data. b. Explain the firm's representation on MasterCard or Visa boards or committees.

As seasoned professionals in the payments industry, we also participate on the boards and committees of numerous payment networks and associations. We leverage our leadership position to provide a strong voice for your shared concerns.

3. References and Current Client Base
a. Specify the category and number of customers and merchant accounts for which the Provider is currently providing merchant services.

Please note that the specific number of our customers for each region and sector are considered confidential proprietary information. We are trusted by 31,000 clients and ~400,000 active SMB merchants in payments globally1, including many of the top brands.

Our portfolio boasts clients from almost every industry, including airlines, automotive, billers (telecommunications, insurance and utilities), e-commerce, hospitality, mail order/telephone order, petroleum, associations and franchises, retail, supermarket and the public sector. 1 JPMorgan Chase Investor Day, May 2023
b. What is the daily average number of transactions currently processed? We process over 25 billion transactions each year.
c. Where are the processing centers? Is it designed for redundancy? We have processing centers in Salem, Massachusetts and Tampa, Florida, which are setup for redundancy. d. What is the total average yearly dollar volume (2022-2023)? Our total average yearly dollar volume for 2022-2023 is more than $2.4 trillion in payments.

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e. Provide the names, email addresses and phone numbers of three public references with comparable volumes and communication capabilities for those who are currently using the card processing services. Please select a mix of long-standing and recently acquired customers.

References that are currently using merchant services can be provided upon award.

4. Relationship Representatives
a. List the names, titles, and location of the primary relationship representative(s) that would be directly involved in and responsible for the contract and its implementation.

Martin Winfield, a Business Development Specialist located in Tempe, Arizona, will be directly involved in and responsible for the merchant services contract and its implementation. He has been with Chase Paymentech for over ten years.
b. Describe the relationship management team's functional role and responsibility.

Martin’s primary role will be setup and implementation. After the account is setup and processing, you will have full support from our 24/7 help desk service team. c. What is the expected turn-around time on issue resolution? Is there any formal escalation of issues? If a resolution can’t be completed within the same business day, the typical turn around time would be 24 – 48 hours. Escalations can be created by calling the Help Desk at (888) 886-8869 or by contacting your dedicated banking relationship manager, Eric Mouradian. d. How often will the primary representative(s) meet with the City to assure that it is receiving the lowest discount/interchange rates?
The City can call the Help Desk anytime and request a rate review.

5. Card Acceptance/Interface Processing
a. Does the Provider support all major payment types, debit cards, gift cards, corporate cards, and other emerging options? Does support vary?
Yes, we support the major brands and debit card networks along with emerging payments such as Apple Pay and Google Wallet. We also work with several gift card companies. b. Describe any hardware necessary for acceptance of credit and debit cards for various transactions.

For card present transactions, a Chase terminal or POS with Chase encryption is needed.

VI. REQUIRED MERCHANT SERVICES | 103 |
c. Describe all software necessary for acceptance of credit and debit cards on all transaction types.

For card not present transactions, a Chase Virtual Terminal or software that is integrated to Chase Paymentech is needed.
d. Describe interface requirements and compatibility issues.

Being a leading processor, we interface with many software/ POS solutions. We have a dedicated integration team that helps with existing or new software companies to allow integration. e. Indicate all payment gateways currently supported. What fees are applicable on setup? Our clients benefit from the flexibility and convenience that our relationships with third-party service providers offer. From terminal hardware to gateway technology, hundreds of technology providers are certified to us.

You can continue to use Xpress Bill Pay without interrupting your current service.

6. Authorization Processing
a. What authorization methods are supported and recommended? We support debit and credit card authorizations, Google Pay, Apple Pay and delayed capture. b. What are the procedures to reverse/recall an incorrect authorization? Describe how an afterauthorization return would be handled.

You may submit a reversal transaction from your point of sale. If you need to reverse a transaction after the original is settled, you may submit the transaction as a return. You can also call into our 24/7 Help Desk for full support.
● Void: When a payment has not yet been authorized (is pending) and the transaction has not yet been captured then the incorrect authorization can be reversed. ● Refund: When a payment has already been processed (authorized and captured) then a refund can be issued which would reverse the incorrect authorization. c. Describe any limitations on processing such as assigned “windows” for obtaining authorizations or settlement, number of files allowed per day, the number of transactions and/or dollar limits per file, or dollar amount per transaction authorized and settled? Are there any limitations? We will underwrite each account for an annual volume limit for both volume and average ticket size. Ranges outside of this approved volume will be reviewed by our Risk team.

VI. REQUIRED MERCHANT SERVICES | 104 |
d. Does the Provider maintain direct authorization and settlement links to the various card organizations, or utilize a third-party network for authorizations? I s your firm introducing a direct processor or is it the direct processor?
Chase is the direct processor.
e. Do merchants incur any monthly access fee to connect to the authorization network? We offer both interchange passthrough pricing and flat rate pricing. Any fees incurred to connect to the authorization network are disclosed to the customer upon contract signing. f. Describe your AVS (address verification and shipping date compliance) process.

We use AVS to reduce the risk of accepting fraudulent transactions by verifying the cardholder’s billing address, which is on file with the card issuer.
g. Describe the procedures to be followed if a transmission request is denied authorization.

When a card transaction is declined, the merchant is provided an error code for the decline. They can call our support line for clarification of the decline reason.
h. Provide average response times for web authorizations methods.

Our platform built on cloud native technology (AWS) has been tested up to 800 transactions per second (tps) with 0% error rate, with 99% observed response rate of less than one second in the U.S.

The delay between the City’s system and ours depends upon several latency factors (e.g., host speed, host congestion, network transport, network speed, network latency, network congestion and application architecture). The response time is dependent on these external factors, which are outside our control, and will vary depending on your connection method, line speed and protocol.

7. Settlement Processing
a. Describe the settlement process workflow and explain any differences by card type.

Settlements are deposited on the next business day if deposited into a Chase account. All card brands and types deposit in the same time frame.
b. Provide a funds availability schedule by card type. Is all funding next day? Confirmed, all funding occurs on the following business day if deposited into a Chase account.

VI. REQUIRED MERCHANT SERVICES | 105 |
c. What is the daily cut-off time for sales transactions to be transmitted to meet settlement deadlines? The daily cutoff time for sales transactions to be transmitted to meet settlement deadlines is 9:00 p.m. PT. d. Is settlement made by ACH or Fed wire?
Settlement occurs via ACH.
e. Do you allow for multiple settlement accounts by merchant? Yes, we allow for multiple settlement accounts by merchant. f. What level of transaction detail is available? Will Saturday and Sunday activity be combined into Monday activity?
The City will have detail reporting to show both daily transaction information and by batch/settlement.

Weekend reporting will reflect the day it was processed on. g. Are settlements on gross amount and fees charged monthly? Yes, settlements are based on the gross amount and fees are charged monthly.

8. Ticket Retrieval and Chargebacks
a. Describe the ticket retrieval request process along with turnaround times. Is this accomplished totally electronically? Does the Provider support full document imaging? We have an internal chargeback team to assist with the entire chargeback/retrieval process. We support full document imaging.
b. What response times and process is required for ticket retrieval? State the average elapsed time from receipt of a retrieval request to merchant receipt.

Merchants have 39 days to request recourse from Chase Paymentech. c. Define the chargeback cycle. What percentage of chargebacks is currently handled without merchant involvement? Does the firm have a standard rule-based logic to facilitate dispute resolution processing?
We have an internal chargeback team to assist with the entire chargeback/retrieval process.

VI. REQUIRED MERCHANT SERVICES | 106 |
d. Does the Provider have a designated contact person and department to specifically manage chargebacks?
We have an internal chargeback team to specifically manage chargebacks. e. What chargeback reporting is available? What tools do you have for reconciliation and reporting on chargebacks? Supply examples.

The City will have access to a dispute chargeback tool through your chase.com login or Resource Online.

You can be setup for instant alerts to help manage chargebacks and receive a quicker response. f. Are credit card chargebacks and debit adjustments netted from daily proceeds, or are they debited separately? Can the information be tied back later?
Credit card chargebacks and debit adjustments are netted from daily proceeds and the information can be tied back later.
g. When will the City receive notification for chargebacks? When are they credited? The City will receive notification for chargebacks as soon as possible. Each case is different and the timing of credit will vary.

9. Debit Card Processing
a. Does the firm support BIN (Bank Information Number) file management to differentiate between debit and credit card transactions?
Yes. Throughout the week, we receive a listing of active BINs registered by the debit networks and global payment brands containing product attributes associated with each unique BIN, including debit and credit BIN data. We use this information to generate specific BIN files to help you make decisions at the point of sale (e.g., prompting for a PIN, determining interchange eligibility). b. Describe the debit card processing capabilities.

We use BIN files which automatically process transactions with the appropriate debit network. c. Are debit card transactions routed automatically to the lowest cost network? Debit card transactions are routed to their designated network issued with the card.

VI. REQUIRED MERCHANT SERVICES | 107 |

10. Technical System Capabilities
a. Is the firm’s processing software CPS (Custom Payment Service) compliant? Confirmed, our processing software is CPS compliant.
b. What is the process for handling test transactions? Are test cards provided and if so, what types? Is the testing system separate from live operations?
Our support team is able to give you a test card number during the testing process.

11. Transmission Issues
a. Describe the recommended transmission method including limitations and advantages/disadvantages.

We do not recommend a specific method but support the following: TCP/IP SSL, HTTTPs, sFTP. b. Describe the monitoring and notification process if a transmission fails.

We place a high priority on notifying you when there’s an event that could impact your organization. We communicate details to help you manage planned and unplanned technology events, and also provide defined support and escalation processes. Your client service team may also communicate these changes/updates to you. Incident alerts are configured and monitored by our Technology Operations group, who then send notifications via your preferred method (e.g., status dashboard, email or text message), when necessary.
c. Does the processing system identify and eliminate duplicate transactions automatically? We support Host Capture System duplicated checking if the point of sale (POS) submits the correct indicators and reference numbers. Terminal Capture Systems’ duplicated checking occurs at a batch level only on the last three to 10 batches submitted (depending on the POS type).

You can void incorrect sales amounts prior to settlement and refund then post-settlement.

12. Security
a. How are PCI compliance initiatives handled? How do you qualify merchants? All transactions are stored on Chase servers. We are PCI compliant.

VI. REQUIRED MERCHANT SERVICES | 108 |
b. How are clients made aware of new PCI initiatives and general information? With Chase, all merchants have a team of data security experts ready to advise you, keep you informed of data security requirements and offer suggestions on how our solutions can help you meet them. c. What PCI training is available for IT and merchants' staff? Are there charges for these services? The City will have 24/7 access to a team of data security experts to provide advice, information regarding data security requirements and suggestions on how to use our solutions. d. Describe the Provider's fraud protection tools.

Keep your transactions flowing smoothly and protect against card-not-present fraud with the help of the following products and services:
● Address Verification Service (AVS): Reduces the risk of accepting fraudulent transactions by verifying the cardholder's billing address, which is on file with the card issuer ● Card Security Verification: Compares the card security value, non-embossed 3- or 4-digit numeric code on the credit card, with the issuer's value on file. Credit card verification programs are offered by the major payment brands and are known as CVV2 (Visa), CVC2 (MasterCard), CID (American Express) and CID (Discover Card)
● Payment Brand Data Security: Support to assist you in complying with Visa’s Cardholder Information Security Program (CISP) and Mastercard’s Site Data Protection Program (SDP)

13. Disaster Recovery
a. Is there a continuity plan for processing systems and platforms in a disaster situation? Describe system-wide back-up systems.

We have servers in both Massachusetts and Florida to provide continuity and redundancy for disaster situations.
b. What support is available in a disaster situation?
The City will receive 24/7 support by calling our Help Desk at (888) 886-8869. c. What is the up-time percentage the last two years?
We monitor the ongoing health and performance of our processing platform, including uptime, transaction throughput and processing accuracy. As transactional data from our back-office applications loads into the data repository, reports are released on an automated and straight-through basis. This mitigates the risk of manual errors and provides greater assurance of accuracy in the report details. These reports contain information which is confidential and proprietary to Chase.

VI. REQUIRED MERCHANT SERVICES | 109 |

14. Information Reporting
Complete and timely online reporting is a critical factor. The City requires full online reporting and download capabilities including the ability to define and sort information at various levels. Reporting should be comprehensive and allow for customization. A link to the system is preferable for evaluation. a. Describe all reports available. Provide a sample of each detail and summary report available or a link to sample reports online. Are all reports available online? We have reports available to you via Chase.com which show all processing activity and fees. These reports consist of all transactions, fees, summaries and settlements. b. Provide an overview of reporting cycles and capabilities. Define the drill down capabilities available online.

Reporting is available in real time, daily, weekly, monthly and by selecting a date range for dates that you are interested in. There are many reports available which let you drill down from the batch to the individual transaction.
c. Describe the reports available to the merchant and the City (for the overall relationship) for reconciliation purposes.

Please see Section 14.b, just above.
d. What is the delivery time frame for reports and statements? Daily activity is immediately available. Monthly statements are generated within the first five days of the following month.
e. Are reports archived? For how long? Can all archived reports be downloaded? Individual transaction reports are available for up to 13 months and monthly statements are archived for the duration of the merchant relationship.
f. Can the City “roll up” multiple specific groups for reporting independent of other groups? A variety of reports are available and can be separated or grouped together depending on how the data is extracted.
g. Provide a sample statement.

A sample statement is not available. Please refer to a current statement that the City receives for your merchant account.

VI. REQUIRED MERCHANT SERVICES | 110 |

15. Implementation
a. Describe the merchant training process with regard to (a) new merchant training or re- training from a prior processor and (b) ongoing training.

The City can call in anytime to for training. If more in depth training is needed, the City can schedule a training session with one of our training team members. All training is at no cost and done over the phone. b. After initial implementation, how are new merchant accounts established? Adding another account is considered adding a location, which is accomplished via an application. Please allow for a three to five business day turnaround.
c. How are updates of PCI and industry-related rules or regulatory changes distributed? Updates for PCI and industry related rules or regulatory changes are distributed via email. d. Is there any newsletter covering industry issues, rules, and regulations provided? How often? Provide the latest copy.

The City can view news related to industry issues, rules and regulations online at the Chase website. See https://www.chase.com/business/payments.
e. What compliance review tools are provided by the Provider? Is this covered under the contract? Chase values the relationship we build with the City. We strive to support and foster our relationship with you through ongoing training and consultative support. We constantly look for ways to help your organization run smoothly and with fewer costs. To help accomplish this, we host free webinar training sessions that cover topics crucial to your organization (e.g., payment brand updates, PCI compliance seminars).

16. Customer Service
a. Is customer service available 24/7? How is it provided? Yes, customer service is available 24/7 by contacting our Help Desk at (888) 886-8869. b. Describe your multilingual customer service support capabilities.

Our customer service support team primarily speaks English.

VI. REQUIRED MERCHANT SERVICES | 111 |
c. Describe the dispute process and procedures for both cardholders and merchants.

Cardholders would call their card issuer to file a dispute. The City is notified via an alert or letter. The City can call into our Chargeback team to help resolve and submit supporting documents to help overturn the dispute. d. Will the firm continuously assure that the City is receiving the appropriate utility fee basis? The City can work with the client service team to understand the utility rate requirements. e. Does the firm offer processing solutions to perform (a) deferred billing, (b) installment billing and (c) recurring billing?
Yes, we offer processing solutions to perform deferred, installment and recurring billing.

17. Pricing and Contracts
a. Describe the firm’s overall pricing structure. Is the firm offering a fixed cost plus surcharges fee or an interchange plus fee?
We offer a pricing structure that includes an interchange plus fee. Please see Attachment B for merchant pricing details.
b. List all of the firm’s possible “non-qualified surcharges” categories (such as reward card fees, etc.) The fees for these are to be included on Attachment B.

With interchange plus pricing, the charge is based off of the wholesale fee determined by the brand. We pass through the wholesale fee for each card type.
c. When are discount fees deducted from the DDA account? Are discount fees calculated on gross or net sales?
Discount fees are calculated on gross sales and are deducted once a month from the previous month’s processing. This occurs within the first five business days of the month.

VII. OPTIONAL BANK SERVICES | 112 |
VII. OPTIONAL BANK SERVICES
The City continues to investigate new services for inclusion under its depository services contract. These services are not currently required but will be evaluated in terms of availability, feasibility, service levels, services provided and charges for potential current, or future, use under the contract. The City will make its determination on the service’s use later during the contract period. If the service is initiated later in the contract period the services and charges stipulated in this application will be applied.

If the bank currently does not offer the service but is planning to make it available during the initial contract period, it should so stipulate along with the anticipated date of activation.

1. Company Banking
The City is interested in giving its employees the opportunity for enhanced banking services. a. Does the bank have a banking services program available for City employees? b. List services provided under this program with applicable discounts or fees to the City or employee.

City employees may be eligible to open a variety of Chase checking and savings accounts. Information regarding our consumer banking products and retail branch locations can be found at www.chase.com or by visiting any Chase retail branch. We have also provided information on the following two services that City employees may find beneficial:

Chase Secure Banking
Chase Secure Banking is a low-cost banking product that can help provide consumers access to a checking account and traditional banking relationship, including those consumers new to banking or who have had trouble getting or keeping a banking account in the past.

Chase Secure Banking works like a traditional checking account but does not allow check writing or wire transactions (incoming or outgoing), and is designed to only allow the bank to authorize transactions against sufficient funds in their account so the consumer will not get overdraft fees.

With Chase Secure Banking, consumers can:
● Access Chase ATMs and branches
● Access the Chase Mobile app and Chase.com to check their balance, send money to friends and family, pay bills, and monitor their credit
● Deposit checks and get direct deposits from an employer ● Make electronic payments (ACH) and set up bill pay
VII. OPTIONAL BANK SERVICES | 113 |
● Use a debit card which is accepted almost everywhere Visa debit cards are accepted ● Access Chase Offers, available on the Chase Mobile app as a way to get more value from purchases Consumers can sign up for Chase Secure Banking online at chase.com/securebanking or at any Chase branch location.

The bank continues to innovate and develop products that meet the needs of the communities it serves. Its thousands of branches provide access to home lending, small business funding, and advice on reaching personal and business financial goals, in addition to personal banking needs. Chase Secure Banking is an approved product by Bank On and the Cities for Financial Empowerment Fund as meeting the Bank On National Account Standards for a safe product for unbanked customers to use to get into the banking system. ● There are 10 million unbanked customers across the Chase footprint who do not qualify for or do not want a traditional checking account1
● Not having a bank account forces people to use alternative financial services and use costly checkcashing services ● The average annual cost of not having a bank account is $196.50 for people who use a prepaid debit card that features direct deposit and $497.33 if the card doesn’t offer direct deposit 2 ● The monthly service fee for Secure Banking is $4.95/month ($60/year), which allows Chase to deliver a sustainable product, but also provides access to a significantly less expensive banking product for unbanked customers

1. Mintel Financial Inclusion: Understanding Unbanked and Underbanked Consumers

2. NerdWallet.com study: The Cost of Being Unbanked: Hundreds of Dollars a Year, Always One Step Behind Chase Home Lending Employee Benefit Program
The City’s employees are invited in the opportunity to participate in the Chase Home Lending Employee Benefit Program. This program is a powerful program that provides your employees cost saving benefits on the financing cost of a new home purchase or refinance. This program also provides education and tools that can assist your employees in deciding whether buying or renting a home would be appropriate.

This program is only available to employees and retirees of participating companies, universities or governmental agencies that host our offer on their HR/Benefits site or have a mutual relationship with one of our Benefit Aggregator partners. The Chase Home Lending Employee Benefit program is not currently available at any of our Chase Banking Centers.

There is no cost to the City to participate in the Chase Home Lending Employee Benefit Program. Once the City agrees to sign the Chase Trademark agreement and agrees to host our customized URL on your HR/Benefits portal, we will provide you with a dedicated URL giving your employees immediate and ongoing access to the Chase Home Lending benefits and online tools.

This program is supported by a dedicated team of Home Lending Advisors ready to serve your employees. City employees can either call our dedicated 800# or go online to begin the process.

VII. OPTIONAL BANK SERVICES | 114 |

1. Check Printing
The City is interested in information regarding any check printing program available.

We are not offering check printing services at this time.

VIII. PROPOSED ADDITIONAL BANK SERVICES | 115 |
VIII. PROPOSED ADDITIONAL BANK

SERVICES
If the bank wishes to present alternatives or additional services not covered by the RFP, please provide summary information on the service in this section.

Our particular expertise lies in adapting and aligning our vast breadth of solutions to the specific operating requirements and environments of our clients.

We accomplish this by listening to our clients and developing an understanding of their operating environments. We then construct a solution that not only meets our clients’ existing operational needs, but also challenges them to consider additional operational improvements.

It is our intent to bring this same approach to the City as we endeavor to strengthen and grow our relationship.

Your dedicated relationship manager, Eric Mouradian, and cash management consultant, Annette Adam, can help you evaluate additional services that fit your needs.

The services below are proposed to augment and complement the requirements included in the RFP. Each of these services is incremental to the solutions presented in the body of our response. Pricing for these services will be provided upon request.

Value-added optional product and services
● Wholesale lockbox
● No cost services
● J.P. Morgan Payments Insights app
Wholesale lockbox
We provide lockbox services and a brief summary follows.

VIII. PROPOSED ADDITIONAL BANK SERVICES | 116 |
Faster, easier, more cost-effective collections
As checks remain viable within the business-to-business industry, many organizations still face challenges with manual processes and inefficiencies.

We can help the City post receivables quickly, reduce exceptions, and strengthen your cash position.

Benefit from our continued investment in equipment refresh and new technology to leverage and minimize exception processing and simplify your experience.

Lockbox improves your efficiency by reducing costs and expediting deposit credits to your account.

A nationwide network of processing sites
We own and operate our full-service, nationwide lockbox network of processing sites with fully automated wholesale and scannable services. We recommend our Los Angeles, CA site for your processing needs.

A proprietary, online receivables tool
Our Receivables Online browser provides same-day decisioning and an account reconciliation tool to combine advanced image and data capture technology. It delivers all you need in a single, online repository to:
● Access images and information related to payments you receive ● Reference ACH or wire payments you receive, as an option ● Review images in our 10-year archive for all your lockboxes in our network sites using only one client ID Easy navigation, advanced queries, payment alerts and workflow tools give your accounts receivable, credit and customer service staffs the ability to make informed business decisions quickly and without handling paper documents.

LOCKBOX INNOVATIONS
 1947: Originated lockbox services
 1984: Launched network sites
 1995: Initiated secure, same-day
check and remittance document
imaging through our online browser
 Today: Offer receivables
reconciliation and enrichment tools
VIII. PROPOSED ADDITIONAL BANK SERVICES | 117 |
A solution for electronic payments
Do you receive electronic payments? Improve your straight-through transaction posting with our Remittance Association solution. Remittance Association automatically associates electronic payment activity to corresponding remittance information sent via email.

Our commitment to quality
In-depth knowledge of client requirements and a commitment to high-quality execution drive our delivery of superior financial services and solutions.

Our quality assurance practices include a disciplined approach to:
● Performance metrics and satisfaction indicators that are linked to client priorities
● Employee merit-based performance, reward and
recognition programs
Further, our strategic focus on creating value for clients drives our commitment to deliver the high-quality products, services and solutions you have come to expect.

A launching point for layered enhancements
Lockbox is a launching point from which we creatively design your receivables process—not only by rerouting mail—but also by targeting a number of layered enhancements for the future.

We focus on helping you:
● Explore technology used to identify, correct, and supplement missing information received at the lockbox site so the corresponding data file we generate for you is more complete and useful ● Layer mobile and desktop solutions to provide more depository options with the same consistent processing and data capture
● Analyze your existing volumes of bill pay checks to determine if ACH eLockbox technology (used to clarify bill pay checks) adds value to your receivables product suite No cost services
In addition to our value-added services, we strongly believe in delivering value without charging clients additional costs to use our services. The table below illustrates that commitment.

No cost services
Notifications Event notifications, including Payment Needs Repair, Transaction Completed, Balance Threshold, User Pending Approval, and many more (over 50) to help manage your accounts.

QUALITY YOU DESERVE
 Our network sites support
approximately 15,000 lockboxes
 We process about 11.1 million items
totaling over $50 billion on average
monthly
 Our network-wide standard operating
procedures provide for superior quality
VIII. PROPOSED ADDITIONAL BANK SERVICES | 118 |
No cost services
J.P. Morgan Embedded
Solution for Excel
A fully integrated cash management tool using Excel.

Allows J.P. Morgan Access users to auto-populate their own spreadsheets with balances and transactions, as well as initiate payments from their spreadsheets.

J.P. Morgan Access
Transaction Services
Provides seven years of wire details for both incoming and outgoing USD wires.

J.P. Morgan Access
Transaction Services
Offers 15 months of historical ACH transaction information on all ACH originated and received payments.

J.P. Morgan Access
Mobile
Provides authorized users with mobile access to account activity, ability to deposit checks and approve wires, account transfers and book transfers payments.

J.P. Morgan Access
Help Center
The City is invited to join training webinars found online in the Access Help Center. Our webinars are live facilitator-led online conferences that include question and answer sessions that allow full participation between the audience and the presenter.

You can register for training webinars via Access Help Center.

Online bank statements Provides retention for seven years of bank statements.

ACH Transaction
Blocking email
notification
Email notification: When a payment is returned as a result of a debit block, we send an email notification of the incident, allowing users to proactively contact their own customers.

J.P. Morgan Payments Insights app
We also offer our J.P. Morgan Payments Insights app, which provides timely and relevant payments news and thought leadership.

The J.P. Morgan Payments Insights app makes it easy for treasury, payments, marketing and technology professionals to discover the latest digital and connected commerce insights from our experts.

Current and future app features
Client Stories Solution Insights Event Insights
News Videos Podcasts
Download today
Search for J.P. Morgan Payments Insights in the Apple and Android app stores and download today.

VIII. PROPOSED ADDITIONAL BANK SERVICES | 119 |
APPLE
Scan with your phone or ctrl + click the QR code
to download from the Apple Store

ANDROID
Scan with your phone or ctrl + click the QR code
to download from Google Play
ATTACHMENT A - PROPOSED FEES Provide all categories and fees required to provide the City's required services. If additional CITY OF RIVERBANK, CA fee categories are required add them in the appropriate fee grouping.

Monthly volumes for each service are shown in hidden columns B through N.

AVG MO PROPOSED EXTENDED

SERVICE VOLUMES FEE FEE NOTES, IF APPLICABLE
AVERAGE LEDGER BALANCE 36,889,983 $15,000,000
Proforma based on $15 MM as excess
balanes will be invest. This can be adjusted.

BALANCE BASED FEE 15,000,000 Adjust Balance as excess balances will be invest. This can be adjusted.

GENERAL ACCOUNT SERVICES
ACCOUNT MAINTENANCE 3 25.0000
ZBA MAINTENANCE - MASTER 1 30.0000
ZBA MAINTENANCE - SUB-ACCT 2 15.0000

LOCKBOX SERVICES
LOCKBOX MONTHLY FEE 1 0.0000 Currently processing through Xpress, did not quote. Additional details require. Available
upon request.

DEPOSITORY SERVICES
CREDITS AND DEPOSITS 18 0.2500 Electronic Credits
CREDITS AND DEPOSITS 18 1.0000 Deposit Tickets
COIN/CURRENCY DEPOSITED 3 2.0000
CHECKS DEPOSITED, ON-US 6 0.2000
CHECKS DEPOSITED, NOT ON-US 312 0.2700
RETURN ITEM 1 0.0000
ARMORED CAR SERVICE Not applicable Contract directly with vendor ARMORED CAR ADD'L SERVICE Not applicable Contract directly with vendor CASH VAULT SERVICE 250 0.0000 No monthly maintenance, verification charges apply. See below
Vault Deposit - weekly 4 1.0000
Vault Deposit per $1,000 85 0.5000
Vault Deposit Rolled Coin 0 0.3000
Vault Deposit Partial or Mixed Bag 0 7.5000 Weekly deposits, cash and check Vault Deposit Standard Coin Bag 0 2.0000
Vault Adjustment 0.0000

PAPER DISBURSEMENT SERVICES
CHECKS AND DEBITS PAID 257 0.2400
ONLINE STOP PAY 2 25.0000

ACH SERVICES
ACH RECEIVED DEBIT/CREDIT 206 0.2500
ACH ORIGINATION RETURN ITEM 0 6.0000
ONSITE BANKER+ ITEMS 1-100 100 0.0000
ONSITE BANKER+ ITEMS 101-500 114 0.2500
ONSITE BANKER+ ACH ORIGINATION 1 40.0000 Monthly Maintenance ONSITE BANKER+ ACH FILES 4 0.0000 File Upload
Return Item Notification - Online 0 0.0000
Return Item Notification - Email 0 0.5000

WIRE TRANSFER SERVICES
PC - OUTGOING WIRE 1 10.0000
INCOMING WIRE 1 15.0000
Book Transfer 0 3.0000

ELECTRONIC BANKING SERVICES
ONSITE BANKER+ BASIC FEE 1 75.0000 Monthly Services
ONSITE BANKER+ ADD'L ACCTS 1 40.0000 Accounts report - volume should be 3 ONSITE BANKER+ ITEMS 200 0.2000 90 Days
ONSITE BANKER+ ITEMS 301 0.2000 90 Days
Extended Transaction Detail 1,503 0.0000
Account Transfer 1 1.0000 Note: With ZBA/ADT service, internal transfers are not necessary
Additional Services Recommended
RECONCILITION SERVICES (Positive Pay)
Payee Name Verification, per item 257 0.0100 Positive Pay Exception Item, per item 0 2.0000
PP Non Recon Maintenance 3 30.0000 Positive Pay Monthly Maintenance Issue Input - Upload 4 1.0000
Check Exception Return 0 20.0000
Data Entry - Manual 0 2.0000
Image Capture, per item 257 0.4500
Check Inquiry Maintenance 3 12.0000
Exception Notification, per account 3 10.0000

ACH FRAUD PROTECTION
Transaction Block Maintnence 3 0.0000 Fraud Protection
ACH Trans Block Authorizatin ID 0 0.0000

REMOTED DEPOSIT CAPTURE (RDC)
RDC Maintenance 1 20.0000
Remote Deposit Capture Item I 0.1500
Remote Deposit Scanner 1 One Time - See attached Remote Deposit Scanner order Guide. Scanner fees vary.

Note: Please see additional pricing detail and services in attached Pro forma *
Volumes and Balances on this Pro Forma are estimated. Actual volumes and balances may be different, which will result in different charges than are specified above.
** Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis.

Page 1 ends

Pricing quoted herein is valid for 60 days from the date of this presentation Pro Forma Analysis
September 2024
Customer: City of Riverbank ECR Rate: 1.5700%
Balance Analysis *
Average Ledger Balance $15,000,000.00
Less Average Float $750,000.00
Average Collected Balance $14,250,000.00
Less Reserve Requirement Rate 0.00% $0.00
Average Available Balance $14,250,000.00
Less Balance Required $2,099,594.69
Net Available Balance $12,150,405.31
Earnings Credit Allowance Rate 1.5700% $18,388.36
Total Charge For Services $2,709.34
Net Credit Amount $15,679.02
Service Charge Amount: $0.00
Service Analysis *
Service Description AFP
Number
of Units Unit Price Charge For Service Balance Required

ACCOUNT SERVICES
1005 - ACCOUNT MAINTENANCE 010000 3 $25.0000 $75.00 $58,121.02 7640 - CREDIT POSTED- ELECTRONIC 010101 225 $0.2500 $56.25 $43,590.76 7641 - DEBIT POSTED - ELECTRONIC 010100 108 $0.2000 $21.60 $16,738.85 7856 - ADT CASH CNTRN MAINT MASTER 010020 1 $30.0000 $30.00 $23,248.41 7857 - ADT CASH CNTRN MAINT SUB 010021 2 $15.0000 $30.00 $23,248.41 Subtotal $212.85 $164,947.45

AUTOMATED CLEARING HOUSE
2716 - CREDIT RECEIVED 250201 103 $0.2000 $20.60 $15,963.91 2717 - DEBIT RECEIVED 250200 103 $0.2000 $20.60 $15,963.91 2720 - RETURN ITEM 250302 1 $6.0000 $6.00 $4,649.68
2722 - NOTIFICATION OF CHANGE 251070 1 $3.0000 $3.00 $2,324.84 *
Volumes and Balances on this Pro Forma are estimated. Actual volumes and balances may be different, which will result in different charges than are specified above.
** Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis.

Page 2 ends

Service Analysis *
Service Description AFP
Number
of Units Unit Price Charge For Service Balance Required 2729 - RETURN NOTIFICATION - ONLINE 250400 1 $0.0000 $0.00 $0.00 2730 - NOTIF OF CHANGE - ONLINE 250400 1 $0.3500 $0.35 $271.23 2742 - CREDIT ORIGINATED - JPM ACCESS 250101 100 $0.0000 $0.00 115 $0.2500 $28.75
215 $28.75 $22,279.72
2744 - DEBIT ORIGINATED - JPM ACCESS 250100 0 $0.0000 $0.00 $0.00 2746 - JPM ACCESS ACH MAINTENANCE 250000 1 $40.0000 $40.00 $30,997.88 2753 - DELETION / REVERSAL - ELEC 250620 0 $5.0000 $0.00 $0.00 2796 - ADDENDA RECORD ORIGINATED 250120 0 $0.1000 $0.00 $0.00 2860 - TRANSACTION BLOCK MAINTENANCE 251050 3 $0.0000 $0.00 $0.00 2861 - ACH TRANS BLOCK AUTHORIZED ID 251051 1 $0.0000 $0.00 $0.00 Subtotal $119.30 $92,451.17

BALANCE BASED CHARGES
35 - BALANCE BASED CHARGES 000230 1 $1,602.7300 $1,602.73 $1,242,030.68 Subtotal $1,602.73 $1,242,030.68

DEPOSITORY SERVICES
501 - CHECK DEPOSITED-ON US 100220 6 $0.2000 $1.20 $929.94 513 - CHECK DEPOSITED-TRANSIT 100224 312 $0.2700 $84.24 $65,281.53 541 - REMOTE DEPOSIT CAPTURE ITEM 101310 318 $0.1500 $47.70 $36,964.97 548 - REMOTE DEPOSIT CAPTURE MAINT 101300 1 $20.0000 $20.00 $15,498.94 1400 - CREDITS POSTED 010101 21 $1.0000 $21.00 $16,273.89 1435 - RETURN ITEM 100400 1 $0.0000 $0.00 $0.00
1457 - REQUALIFICATION OF RETURN ITEM 100401 0 $5.0000 $0.00 $0.00 Subtotal $174.14 $134,949.26

DISBURSEMENT SERVICES
2370 - CHECK / DEBIT POSTED 010100 257 $0.2400 $61.68 $47,798.73 6618 - CHECK INQUIRY MAINTENANCE 150400 3 $12.0000 $36.00 $27,898.09 6621 - IMAGING MAINTENANCE 151350 1 $0.0000 $0.00 $0.00 6625 - EXCEPTION NOTIFICATION - ACCT 150030 3 $10.0000 $30.00 $23,248.41 6644 - ISSUE INPUT UPLOAD 200201 4 $1.0000 $4.00 $3,099.79 6645 - IMAGE RETRIEVAL PER RETRIEVE 151352 0 $0.0000 $0.00 $0.00 6646 - IMAGE RETRIEVAL >91DAY 151352 0 $1.0000 $0.00 $0.00 *
Volumes and Balances on this Pro Forma are estimated. Actual volumes and balances may be different, which will result in different charges than are specified above.
** Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis.

Page 3 ends

Service Analysis *
Service Description AFP
Number
of Units Unit Price Charge For Service Balance Required Subtotal $131.68 $102,045.01

JPMORGAN ACCESS
6040 - MONTHLY SERVICE 401000 1 $75.0000 $75.00 $58,121.02 6041 - ACCOUNTS REPORTED 40044Z 3 $40.0000 $120.00 $92,993.63 6044 - TRANSACTIONS REPORTED - 90 DAY 40066Z 490 $0.2000 $98.00 $75,944.80 6053 - EXTENDED TRANSACTION DETAIL 40066Z 1,470 $0.0000 $0.00 $0.00 6076 - ACCT TRANSFER ITEM 350120 0 $1.0000 $0.00 $0.00
Subtotal $293.00 $227,059.45

RECONCILIATION SERVICES
3228 - PAYEE NAME VERIFICATION 150122 257 $0.0100 $2.57 $1,991.61 3262 - POSITIVE PAY MAINTENANCE 150030 3 $0.0000 $0.00 $0.00 3263 - EXCEPTION ITEM 150300 0 $2.5000 $0.00 $0.00
3268 - PP NON RECON MAINTENANCE 150030 3 $30.0000 $90.00 $69,745.22 3272 - CHECK EXCEPTION RETURN 150320 0 $20.0000 $0.00 $0.00 3294 - DATA ENTRY - MANUAL 200209 0 $2.0000 $0.00 $0.00 3386 - IMAGE CAPTURE PER ITEM 151351 257 $0.0450 $11.57 $8,966.14 Subtotal $104.14 $80,702.97

VAULT SERVICES
1310 - VAULT DEPOSIT 100100 4 $1.0000 $4.00 $3,099.79
1459 - VAULT DEPOSIT PER $1,000 10011Z 85 $0.5000 $42.50 $32,935.24 1475 - VAULT DEPOSIT ROLLED COIN 100110 0 $0.3000 $0.00 $0.00 1506 - VAULT DEP PARTIAL OR MIXED BAG 100111 0 $7.5000 $0.00 $0.00 1525 - VAULT DEPOSIT STD COIN BAG 100113 0 $2.0000 $0.00 $0.00 1617 - VAULT DEPOSIT ADJUSTMENT 100501 0 $0.0000 $0.00 $0.00 Subtotal $46.50 $36,035.03
WIRE - U.S.
5822 - ELECTRONIC BOOK DEBIT S/T 350120 0 $10.0000 $0.00 $0.00 5824 - ELECTRONIC FED DEBIT S/T 350100 1 $10.0000 $10.00 $7,749.47 5826 - ELECTRONIC CHIP DEBIT S/T 350110 0 $10.0000 $0.00 $0.00 5886 - BOOK CREDIT 350320 0 $3.0000 $0.00 $0.00
5887 - FED CREDIT S/T 350300 1 $15.0000 $15.00 $11,624.20 5889 - CHIPS CREDIT S/T 350300 0 $15.0000 $0.00 $0.00
*
Volumes and Balances on this Pro Forma are estimated. Actual volumes and balances may be different, which will result in different charges than are specified above.
** Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis.

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City Council / Local Redevelopment Authority / Public Financing AuthorityDecember 10, 2024

City Council / Local Redevelopment Authority / Public Financing Authority
December 10, 2024