Banking Services

REQUEST FOR PROPOSAL
BANKING SERVICES
21, 2026
SEPTEMBER
Monroe County Water Authority
475 Norris Drive
Rochester, New York 14610

SECTION 1-INVITATION TO PARTICIPATE
1.1 PURPOSE
The Monroe County Water Authority ("the Authority") is issuing this Request For Proposals
("RFP") to seek proposals from local qualified financial institutions to provide full, integrated
banking services to the Authority. The Authority prefers to maintain all operating account
banking services with one financial institution to maximize cash flow and minimize administration
costs however the Authority reserves the right to award services to multiple financial institutions
should it be deemed in the Authority's best interest. As such, banking services proposals must
include services for the account system outlined.
Prospective Proposers must offer a proposal that will meet the scope of services identified in
Section 2 of this document. If a service requested in Section 2 is not offered/provided by the
Proposer, please clearly state in proposal and offer an alternative equivalent service if available.
In responding to this RFP, Proposers must follow the prescribed format as outlined in Section 2.
By so doing, each Proposer will be providing the Authority with comparable data submitted by
other Proposers and, thus, be assured of fair and objective treatment in the Authority review and
evaluation process. Proposals should not exceed 75 pages.
1.2 PROCUREMENT OFFICER
The Procurement Officer identified below is the sole point of contact regarding this RFP from the
date of issuance until the selection of the successful Proposer(s).
Amy A. Molinari
Director of Finance & Business Services
Monroe County Water Authority
475 Norris Drive
Rochester, NY 14610
E-mail: Amy.Molinari@mcwa.com
1.3 PRESENTATION AND CLARIFICATION OF THE AUTHORITY'S RIGHTS AND INTENTIONS
The Authority intends to enter into a contract with the selected Proposer(s) to supply the services
described in Section 2. However, this intent does not commit the Authority to award a contract
to any responding Proposer, or to pay any costs incurred in the preparation of the proposal or a
cost proposal in repsonse to this request, or to procure or contract for any services. The Authority
reserves the right, in its sole discretion, to accept or reject in part or in its entirety any proposal
received as a result of this RFP if it is in the best interest of the Authority to do so.

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Banking Services
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1.4 TENTATIVE SCHEDULE
September 21, 2026 RFP distributed; announced on the Authority website.
October 12, 2026 Pre-proposal questions due, in writing.
October 14, 2026 Addenda issued with answers to Proposer's questions (if necessary).
November 6, 2026 Proposals due by 12:00 p.m. EST
December 10, 2026 Estimated award date.
February 1, 2027 Full implementation to new banking institution (if applicable)
1.5 OVERVIEW OF ORGANIZATION
The Authority provides a high quality, safe, and reliable water supply in a financially-responsible
manner.
The Authority was created by State legislation in 1950 to solve the water supply needs of this
community. In 1959, the Authority took over the assets of the private New York Water Service
Corporation and had
27,000 retail customers, " * * . .~ , ... r*1 ._ ., * ~ * , - u* * - - " * * * * * ...... ~ * - I - ~.
serving just portions of the tu:,.~4.W.\5lll'\10: \Ja.\:'o!\l' ~ ~ l<1XI.* (lrltlfl.'0
..; ': :.,r..~-~ ,.._
....- -~.. .. .. *--**
County's inner ring towns ~ -L - "~* . . j
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and portions of the City of .~ tl ...
Rochester. As surrounding
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towns and villages faced
new water supply l-h,:,,aii* .,._. ....
challenges, the the
Authority service area has
steadily grown. Today, the
Authority serves over
190,000 customers in - ' ~-"'""' I
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every town and village in ~ ~u1116.11Jh11,L1t. UJ4'l\' * Jf
Monroe County, plus F. h11S"t*" 1,..-*nwul.'-11111)1~
towns, villages, and other
water authorities in each of the five adjacent counties.
The Authority system infrastructure includes its main operations center, meter shop, three water
treatment plants, 46 remote pumping stations, 51 tanks and 2 storage reservoirs, and over 3,500
miles of transmission and distribution water mains.
For additional information on the Authority, go to www.mcwa.com.

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Banking Services
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SECTION 2 - BANKING SERVICES PROPOSAL CONTENT AND FORMAT
(SCOPE OF WORK)
In order for the Authority to be able to adequately compare and evaluate proposals, all proposals
must be submitted in accordance with the format detailed below. Proposals should not exceed
75 pages. Each question in the RFP shall be repeated with the financial institution's response
following. If a service requirement cannot be met, please indicate "No Proposal". An alternative
equivalent service may be offered.
2.1 COVER LETTER
Amy A. Molinari
Director of Finance & Business Services
475 Norris Drive
Rochester, NY 14610
Ms. Molinari,
We have read the Authority's RFP for Banking Services and fully understand its intent. We certify that we
have adequate personnel, equipment, and facilities to fulfill the requirement thereto. We understand
that our ability to meet the criteria and provide the required services shall be evaluated solely by the
Authority.
We have attached the following:
1. One (1) copy of our annual financial reports for the past three (3) years
2. All required information entailed in the RFP
3. Completed and signed procurement form (see Exhibit A)
4. Completed Exhibit C and Exhibit D
S. Signed Addenda acknowledgement(s), if applicable
It is understood that our financial institution will be required to adhere to the Authority's Statement of
Investment Policy (see Exhibit B).
It is understood that prior to receiving the award for the contract our financial institution will be required
to complete the Authority's "Financial Institution Request for Information" (see Exhibit E) and will be
required to completed annually for every year of the contract, and that the information requested above
will be used as evidence of our ability to meet the capital structure requirements necessary to service this
account.
It is further understood that all information included in, attached to, or required by the RFP shall become
public record upon delivery to the Procurement Officer.
Submitted by:
Financial Institution
Authorized Signature/Title Date

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Banking Services
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2.2 TABLE OF CONTENTS
Table of Contents should follow the RFP format.
2.3 BANK PROFILE
Please provide the following information:
A. Bank Overview - General overview of bank, certification of meeting required
qualifications to propose as outlined in Section 2, customer service policy and
identification of primary office or branch that the Authority will be assigned to and where
the Authority will conduct its banking business.
B. Experience - Bank's direct experience in servicing public sector clients. Please include the
number of public agency clients and the dollar amount of public funds on deposit. Please
include a list of at least three (3) public sector clients.
C. Relationship Management - Identify bank officers responsible for the Authority's
accounts, what each person's role and responsibilities will be, contact information, and
the relevant credentials and experience of each person on the relationship management
team. List the physical branch locations within a 10-mile radius of 475 Norris Drive.
2.4 DEMAND DEPOSIT ACCOUNTS
The Authority currently has three Investment/Money Market accounts:
* Main Water Revenue Account (required per indenture)
* Operating & Maintenance II
* Investment Account
The Authority currently has five checking accounts:
* Operating & Maintenance Account - Main operating account for the Authority and has
five sub accounts. (Required per indenture)
* Payroll Account - The Authority pays employees weekly through either check or direct
deposit. A manual transfer is made from the Operating & Maintenance Account to the
Payroll Account.
* Controlled Disbursement Account -Acts as a pass through by withdrawing daily the total
amount of ACH payments and disbursements cashed that day from the Operating &
Maintenance Account. ACH & check presentment are settled through this account.
* Water Revenue Account for Lockbox - Revenue collected through the lockbox is
transferred into the Water Revenue Account, then is transferred into the Main Water
Revenue Account.

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Banking Services
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* Water Revenue Electronic Account - Receives customer bill payments collected either
through the Authority's automatic bill pay option, or through various bank's bill pay
services. Revenue collected is transferred to the Main Water Revenue Account two times
per month.
Daily bank balances and activity are obtained online through an online bank portal for these
accounts. Accounts Payable disbursements are currently made by computer-generated checks
and ACH payments on a weekly basis. Authority employees are paid on a weekly basis through
direct deposit or check. See Exhibit C for the banking activity for the months June 2026 through
August 2026, and the ending balances for all accounts for the past 12 months.
Branch deposits are currently made daily during banking hours of operation. The Authority is
potentially interested in adding the desktop deposit service.
Please provide answers to the following:
1. Please describe the bank's cash deposit requirements. How should the coin and currency
deposits be bundled? Is there a fee for depositing loose or rolled coins?
2. Please provide examples of the reports for account analysis statement and the bank
statement.
3. Please describe in detail the bank's procedures for handling deposit adjustments. What
documentation on discrepancies does the bank provide? Is the documentation different
for cash deposits and check deposits? What is the minimum adjustment amount? How
soon would support documentation of a deposit discrepancy be provided to the
Authority?
4. What are the cut-off times for deposits at the bank's local branch? If the bank has more
than one branch, identify the time and branch(es) where a final daily deposit(s) will be
accepted. Is pricing different for night drop services? How are deposit adjustment and
related documentation and support documentation handled for night drop deposits?
5. Please describe the bank's return item handling and notification procedures. How long
does it take returned items to be sent to the Authority? Can returned items be
automatically redeposited? If so, how many times?
6. Can change orders for $500 or less be made available to the Authority without advance
notice?
7. The bank will be required to provide certain transaction confirmations and respond to
other requests for data as needed from the Authority's auditors. Will the bank be able to
comply with such requests?
8. How do you determine and calculate availability of deposited items? Do you give
immediate availability for on-us items? Do you calculate availability by item or formula?
Please provide a copy of the funds availability schedule you propose to use for the
Authority. Describe one day, two availability and wire requirements.

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2.5 ONLINE BANKING
Does the financial institution's online banking services include, at a minimum, the following
capabilities:
* Secure, dual administration (separation of duties) for initiating and approving user access,
permissions, wire transfers, ACH transfers, template setups, etc.
* Wire transfers and ACH transfers
* Ability to download electronic bank statements in an electronic file that can be imported
to Excel
* Daily detailed account reporting showing beginning and end ledger balances, collected
balances, and available balances. Please provide a sample of prior day and intra-day
reports that would be the best example of the system's capabilities
* Image viewing of deposit tickets
* Image viewing of canceled checks, front and back
* Stop payments
* Fund transfers between operating accounts and investment accounts
* Viewing of float information on all deposited items
* Electronic notification of transactions
* Viewing information on refunds, voids or deletions of deposits or receipts
* Information to be available for a minimum of 365 days
* Status of prenote test transactions
* Real-time banking capability
2.6 ACH DEBIT SERVICES AND DIRECT DEPOSIT OF PAYROLL
The Authority processes direct deposits of payroll up to five (5) times a month. The payroll file is
sent to the bank through the bank's on line portal for paydays that occur every Friday. If payday
is a holiday, payday will be the previous business day prior to the holiday. Other miscellaneous
ACH transactions such as retirement fund transfers and state & federal tax payments flow
through the Payroll account each week. Please provide the answers to the following:
1. Please describe the bank's ACH and Direct Deposit on-line banking service.
* What are the different ACH file transmission options available to the Authority?
* What are the transmission deadlines for ACH files? When (day and time) does the
bank need the file from the Authority for a Friday payday?
* What are the hours of operation for the ACH unit?
* Is the ability to verify a file total available?
2. Please detail the bank's back-up plans for data transmissions. The Authority requires
immediate notification of any changes or problems and the ability to re-send or delete a
file.

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3. What screening measures does the bank use to minimize duplication/errors on files sent
to you?
4. How does the bank handle file, batch and item reversals and deletions?
5. Please describe the bank's process for prenote test transactions. The Authority prefers
to receive electronic notification of a successful/unsuccessful prenote rather than
through US postal mail. Please describe the Authority's options for obtaining prenote
status notifications. How many business days does the prenote test transaction process
take?
2.7 POSITIVE PAV/REVERSE POSITIVE PAV SERVICES
Describe the bank's ability to provide Positive Pay or Reverse Positive Pay services. What type of
data transmission can the bank accept? What is the deadline for the transmission of check
issuance files to the bank? How much time will the Authority have to review discrepancies and
notify the bank to pay or reject? How is the Authority notified? How are single check issues
handled?
2.8 LOCKBOX SERVICE REQUIREMENTS
Please describe the bank's ability to perform the following services:
1. Pick up mail from the Authority's post office box (currently in Buffalo, but could relocate).
2. Process all payments daily. If one check is received for a number of payment coupons, it
must agree with the total of the payment coupons. If it does not, it should be returned as
a reject. For an example of our coupon, please see Exhibit F.
3. Deposit funds into the Authority's account daily.
4. Send a daily transmission to the Authority of all items processed by 4:00 p.m.
5. Correspondence, payment rejects, and all agency documentation to the Monroe County
Water Authority at its business office located at 475 Norris Drive, Rochester, New York
14610 by 10:00 a.m. of the day following receipt.
6. Any item that does not have a coupon must be sent to the Authority uncashed.
7. Selected Proposer shall be responsible from time of pickup from the post office box to
the final crediting of the account.
8. An account would need to be established for the deposit of funds received by the lockbox.
(Current account for this function is the Water Revenue Account for Lockbox)
9. Do you have a process through the weekend?
10. How many times per day will you pick up the mail from the PO box?
11. What are the transmission file requirements?

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2.9 COLLATERALIZATION
Describe the bank's ability to adhere to the Authority's collateralization requirements stated in
the Annual Statement of Investment Policy (see Exhibit B). The Authority only accepts US
Government backed securities for collateralization.
2.10 CONVERSION
The Authority requires a smooth and low-cost transition to a new bank.
1. Please describe the bank's plan to implement the proposed services and to ensure a
smooth, error-free conversion. Please detail all costs and the responsible party (bank or
Authority) associated with the conversion of all new services.
2. Indicate your plans for educating and training Authority employees in the use of your
system(s).
3. Describe in detail how the bank handles problem resolution, customer service, day-to
day contact, and ongoing maintenance for public sector clients. Please be specific about
exactly who the Authority will be calling and working with for the above described
situations.
4. Please provide a timeline for conversion starting from estimated award date of December
10, 2026 through fully conversion by February 1, 2027.
2.11 FEES FOR SERVICE AND COMPENSATING BALANCES
All proposed fees for the requested services should be listed on Exhibit C. Proposed fees for
additional services not listed on Exhibit C should be listed on Exhibit D. If there are any services
not listed on the proposal form for which the financial institution intends to charge, please list
each item separately. Any service for which a proposing institution intends to charge must be
listed along with the price per item on the proposal form. Any services not listed will be assumed
free of charge. Exhibit C and Exhibit D will be considered all-inclusive and the prices shown on
the list shall be incorporated into the agreement and be effective through the initial three-year
contract with an option to renew for an additional two one-year periods.
Describe the bank's compensating balance and Earnings Credit Rate (ECR) process.
1. What is the bank's ECR based on, and how is it calculated? List the bank's actual ECR for
the past twelve (12) months. Is the account analysis settlement period monthly or yearly?
2. Please detail exactly what types of items and services can be applied against the
Authority's account analysis in addition to standard banking services.
3. Are the fees for service deducted from the account monthly or can we be issued an
invoice which we will pay by check?
4. What procedure is used to make any adjustment to account analysis statements and how
long does it take adjustments to take effect? How are adjustments handled if the analysis
period has already ended?

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2.12 DATA EQUIPMENT COMPATIBILITY
The Authority relies on online transactions and wishes to ensure equipment and data
compatibility and therefore requests the specifications needed for an automated wire transfer,
ACH debit and credit, balance reporting, and any other automated systems be included in this
proposal. Any costs associated with automated data and equipment should be identified in
Exhibit D if not already listed in Exhibit C.
1. Is your internet customer portal compatible with all internet browsers? If not, please
provide a list of compatible browsers.
2.13 DISASTER RECOVERY
1. Describe your institution's formal disaster recovery plan.
2. How quickly will back-up facilities be activated.
2.14 EXHIBITS
The following exhibits must be included with the proposal:
Exhibit A - Please complete and sign the form entitled "Offerer/Bidder Disclosure of Prior Non
Responsibility Determination and Affirmation/Certification in Accordance with NYS Finance Law
139-J & 139-K".
Exhibit C - Please complete and submit the form entitled "Bank Services Bid Form" which is
included with the RFP. This is a list of services the Authority now uses as well as the monthly unit
counts experienced from June 2026 through August 2026.
Exhibit D - If needed, please complete and submit form entitled "Banking Services Proposal -
Additional Services and Costs" which is included in the RFP.
Exhibit C and Exhibit D will be considered all-inclusive and the prices shown on the list shall be
incorporated into the agreement and be effective through the initial three-year contract with an
option to renew for an additional two one-year periods.