3.1.9sr - SRTC Procedure: Bank Account

Southern Regional Technical College will follow the procedures set forth in the State Board of the Technical College System of Georgia (SBTCSG) Policy Manual for updating and changing bank services and accounts. In addition to the SBTCSG Bank Accounts Policy, the following procedures apply:

1. The Vice President for Administrative Services (VPAS) will solicit competitive rate and service information from local banking institutions for its primary Operating Bank Account.
2. Sealed proposals will be received by the VPAS and forwarded, unopened to the Office of Treasury and Fiscal Services (OTFS).
3. OTFS will notify the VPAS of three banking institutions that may be considered for selection.
4. Comparative information will be compiled by the VPAS and presented to the local Board of Directors for input.
5. The President will select the institution that provides the highest quality and greatest breadth of banking services at a competitive value to Southern Regional Technical College for a period of three years, with an annual option to renew for up to two additional years.

Responsibility:
The Vice President for Administrative Services has the overall responsibility for ensuring this procedure is implemented.

References:
SBTCSG Policy 3.1.9: Bank Accounts
Office of Treasury and Fiscal Services

Status:
Adopted: 03-09-2015
Implemented: 07-01-2015