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Town of Boonton Banking Services RFP
BID #: 1
ISSUED: 9/7/2017
DUE: 10/17/2017
VALUE: $13 million
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Executive Summary
The Town of Boonton is seeking proposals from banking institutions to provide various banking services. The selected bank will serve as the Town's principal bank for at least two years, subject to satisfactory service. The RFP emphasizes the need for extensive experience, knowledgeable background, and qualifications in providing banking services, including typical business banking, employee/consumer services, trust services, and short-term investments. Proposals should detail services, interest rates, and other details to meet the stated minimum requirements. Eight copies of the sealed proposal must be submitted to the Business Administrator by October 17, 2017, at 10:30 AM.
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Bid Postings • Town of Boonton Banking Services RFP Skip to Main Content Search How Do I... Government Departments Community Home Bid Postings Print Print Bid Number: RFP 02-2017 Bid Title: Town of Boonton Banking Services RFP Category: BIDS Status: Closed Description: Notice is hereby given by the Town of Boonton that Request for proposals (RFP) will be received by the Town October 17, 2017 at 10:30am prevailing time in the Municipal Building, 100 Washington Street, Boonton, N.J. 07005 at which time and place the sealed proposals will be received for the following: RFP #02-2017 Town of Boonton Banking Services RFP Obtaining RFP Document: Town of Boonton Sean P. Canning QPA For security reasons, you must enable JavaScript to view this E-mail address. 973-706-7813 All successful vendors must comply with all applicable New Jersey purchasing statutes as follows: • Business Registration Certificate (BRC) • W-9 Forms • AA302 Form - Affirmative Action Laws – N.J.S.A. 10:5-31, N.J.A.C. 17:27 The Town of Boonton reserves the right to award this quote excluding the indicated option or at its discretion to not award any quote as received. This bid has been advertised in accordance with the “Fair and Open Basis” and nothing further shall be required under the Pay-to-Play Legislation (N.J.S.A. 19:44A-20.7). Date: September 7, 2017 Sean Canning QPA, MPA Purchasing Agent Town of Boonton Publication Date/Time: 9/7/2017 8:00 AM Closing Date/Time: 10/17/2017 10:30 AM Related Documents: RFP 2-2017 Banking Services Town of Boonton Return To Main Bid Postings Page Live Edit Report a Concern Recreation Notify Me® Online Payments Ordinances Garbage & Recycling Contact Us Town Hall 100 Washington Street Boonton, NJ 07005 Phone: 973-402-9410 info@boonton.org Hours: 8:30am - 4:00pm Monday – Friday Quick Links Legal Notices Boonton Main Street /QuickLinks.aspx Using This Site Home Accessibility Site Map Copyright Notices Privacy /QuickLinks.aspx Government Websites by CivicPlus® Loading Loading Do Not Show Again Close Arrow Left Arrow Right [] Slideshow Left Arrow Slideshow Right Arrow
Document Text
--- Document: RFP 2-2017 Banking Services Town of Boonton ---
Town of Boonton
Banking Services RFP
Notice is hereby given by the Town of Boonton that Request for proposals (RFP) will be received by the
Town October 17, 2017 at 10:30am prevailing time in the Municipal Building, 100 Washington Street,
Boonton, N.J. 07005 at which time and place the sealed proposals will be received for the following:
RFP #02-2017 Town of Boonton Banking Services RFP
Obtaining RFP Document:
Town of Boonton
Sean P. Canning QPA
Scanning@TheCanningGroup.org
973-706-7813
All successful vendors must comply with all applicable New Jersey purchasing statutes as follows:
•
Business Registration Certificate (BRC)
•
W-9 Forms
•
AA302 Form - Affirmative Action Laws – N.J.S.A. 10:5-31, N.J.A.C. 17:27
The Town of Boonton reserves the right to award this quote excluding the indicated option or at its discretion
to not award any quote as received.
This bid has been advertised in accordance with the “Fair and Open Basis” and nothing further shall be
required under the Pay-to-Play Legislation (N.J.S.A. 19:44A-20.7).
Date:
September 7, 2017
Sean Canning QPA, MPA
Purchasing Agent Town of Boonton
Town of Boonton
Banking Services RFP
Town of Boonton
Banking Services RFP
1. Purpose
The intent of this Request for Proposals (RFP) and resulting contract is to obtain various banking
services for the Town of Boonton (The Town). Banking institutions responding to this RFP should
have extensive experience and a knowledgeable background and qualifications in the provision of
the services described herein. Proposals shall include a description of the services, rates of interest,
and other details in response to the minimum requirements set forth herein. Beyond these minimum
requirements, banks are encouraged to include optional and/or supplemental proposals to the RFP
that would enhance the Town's ability to perform its banking functions. The Town recognizes the
expertise, creativity, and innovation that exists within the industry and encourages the industry to
respond accordingly.
The banking institution selected as a result of this process shall, subject to the maintenance of
services and standards as determined by the Town, remain the principal bank for the Town for a
period of at least two (2) years from designation. At the conclusion of one (1) year's activity, the
banking relationship and level of service will be reviewed, and the Town's Chief Financial Officer
may make a recommendation as to the need and/or merits of reconducting the RFP process.
The Town recognizes the unique nature of banking relationships and the need to maintain our level of
service. The Town will be guided by these principles and seeks to establish a banking relationship
that yields the highest level of service and interest, at the lowest administrative cost, with the greatest
amount of flexibility. Proposals should ensure that no funds go uninvested for any period of time.
Despite any language contained herein to the contrary, this RFP does not constitute a bid and is
intended solely to obtain competitive proposals from which the Town may choose a contractor(s)
that best meet(s) the Town's needs. It is the Town's intent that no statutory, regulatory, or common
law bidding requirement apply to this RFP. The Town intends to award this contract pursuant to
N.J.S.A. 17:9-9
2. BACKGROUND INFORMATION
The Town of Boonton is a part of Morris County, State of New Jersey.
The Town, besides having the typical characteristics associated with operating a $13 million dollar
municipal budget, also operates a $1.5 million dollar sewer utility budget and a $2.3 million dollar
water utility budget. In addition, the Town also maintains the requisite trust funds and other funds as
required by the State of New Jersey.
The Town's required banking services can be characterized as follows:
i. Typical business banking services
ii. Employee/consumer services
iii. Trust services
iv. Short-term investments as allowed by New Jersey statute
The Town's cash flow is generally regular and standardized. On the revenue side, the Town collects
the majority (approximately 80%) of its annual municipal budget revenue four (4) times per year, on
February 1, May 1, August 1, and November 1. The balance of these funds are received over the
course of the year. The Town’s utilities bill their customers quarterly but on a rolling basis so every
month a quarter of the Town has a utility bill due. However, as a result of customer usage, the
Town of Boonton
Banking Services RFP
revenue stream experiences peaks that correspond to the periods of greatest demand for water, such
as during the summer months. The Town currently accepts credit card payments for taxes, water and
sewer utility charges.
On the expenditure side, the Town disburses the majority of its funds on a biweekly basis.
Exceptions do occur to this schedule.
The Town maintains several types of interest-bearing accounts, more fully described in the Exhibits
to this RFP. Transactions currently processed through these accounts are as follows. Note: The dollar
values and/or quantities stated herein are given as a general guide; they are not guaranteed amounts,
but they represent the best estimates of the Town.
Total bank accounts of the Town consist of approximately 27 accounts. Five of these accounts
support the day-to-day operations of the Town. The most significant activity occurs in the accounts
listed below.
Current Account – This is the primary checking account through which the Town's expenditures
and revenues are processed. Accounts payable disbursements average approximately 20 per
month, not including wire payments which average 10 per month.
Net Payroll Account – This account is used for payroll, payroll taxes and deductions. All payroll
with few exceptions will be Direct deposit transactions. Payroll is biweekly with approximately
65 direct deposits transactions.
Water Account – This account is used for revenue and expenditures for the Town’s Water
Utility. Accounts payable disbursements average approximately 10 per month.
Sewer Account - This account is used for revenue and expenditures for the Town’s Sewer Utility.
Accounts payable disbursements average approximately 10 per month.
Claims Account – This account is used for funding of all expenditures for the Town’s accounts.
Accounts payable disbursements average approximately 200 per month transactions.
There are 12 trust accounts, including for Community Development Programs, one of which is a
Developer’s Escrow Account. Some of the trust accounts are required to be maintained by covenants
contained in grant agreements that the Town has with various state and federal agencies. They also
include the Town’s self-insurance funds.
Other accounts of the Town include various operating accounts for the Municipal Court, Bail Account,
and the Tax Collector’s Office that are outside the Department of Finance of the Town.
Town of Boonton
Banking Services RFP
3. COMPLIANCE WITH LAWS
The successful bank(s) shall comply with all applicable federal, state and local statutes, rules, and
regulations.
4. PROCEDURE FOR RESPONDING TO REQUEST FOR PROPOSALS
a. SUBMISSION OF PROPOSALS
Eight (8) copies of the sealed proposal, INCLUSIVE OF ALL INFORMATION required in Part
II, Proposal Requirements, must be provided to the Business Administrator, Town of Boonton,
100 Washington St. Boonton, N.J. 07005 until October 17, 2017 at 10:30 AM local prevailing
time, when proposals are scheduled to be publicly opened and read aloud.
Any proposals received after said opening, whether by mail or otherwise, will be returned
unopened. Proposals should be provided in a sealed envelope with the title of “Town of Boonton
Banking RFP” clearly marked on the outside. It is recommended that each proposal package be
hand delivered. The Town assumes no responsibility for delays in any form of carrier, mail, or
delivery service causing the proposal to be received after the above-referenced due date and time.
Submission by fax or telephone is NOT PERMITTED. This proposal is being solicited through a
fair and open process in accordance with N.J.S.A. 19:44A-20.5.
Contracts for services will be provided by the Town’s Solicitor. If your bank has a proposed form
of contract, please supply a copy with your proposal.
b. QUESTIONS/INQUIRIES REGARDING REQUEST FOR PROPOSALS
Any questions or inquiries regarding this RFP must be made in writing to Mr. Neil Henry
Business Administrator, emailed to nhenry@boonton.org
c. ADDENDA/REVISIONS TO REQUEST FOR PROPOSALS
Addenda/revisions to this RFP shall be provided to all banks who have received this
proposal.
5. INSURANCE
The successful bank(s) must provide and maintain the following minimum limits of insurance coverage
during the period of performance required under the contract resulting from this RFP.
a.
PROFESSIONAL LIABILITY
$5,000,000.00 error and omissions per occurrence
Town of Boonton
Banking Services RFP
b.
WORKER’S COMPENSATION AND EMPLOYER’S LIABILITY
Statutory coverage for New Jersey $100,000.00 employer’s liability
Broad-form all-states endorsements
c. GENERAL LIABILITY
$5,000,000.00 general liability per occurrence. The Town shall be named as
additional insured with respect to general liability.
d. AUTO LIABILITY
$1,000,000.00 per occurrence / $1,000,000.00 aggregate. This coverage is required if the
operation of any vehicle is required in the performance of the services detailed herein
(including but not limited to the use of a vehicle to make any on-site visits).
e. ADDITIONAL COVERAGE
The successful banking institution shall provide any and all additional insurance coverages
that may be usual and customary in the banking industry, with limits reasonably sufficient
to cover all activities to be performed pursuant to this RFP and the resulting contract,
including, but not limited to, armored car service.
Prior to commencing work under contract, the successful banks(s) shall furnish the
Town with a certificate of insurance as evidence that it has procured the insurance
coverage required herein. Banks must give the Town a sixty-day notice of cancellation,
nonrenewal, or change in insurance coverage.
6. INDEMNIFICATION
The selected bank(s) shall defend, indemnify, and hold harmless the Town, its officers,
agents, and employees from any and all claims and costs of any nature, whether for
personal injury, property damage, or other liability arising out of or in any way connected
with the bank’s negligent acts or omissions under this agreement. Also, the selected
bank(s) shall include the Town as an additional insured on their respective policy(s).
7. MISCELLANEOUS REQUIREMENTS
a. The Town will not be responsible for any expenses incurred by any bank in preparing and
submitting a proposal. All proposals shall provide a straightforward, concise delineation of
the bank's capabilities to satisfy the requirements of this RFP. Emphasis should be on
completeness and clarity of content.
Town of Boonton
Banking Services RFP
b. The contents of the proposal submitted by the successful bank(s) and this RFP may
become part of the contract for these services. The successful bank(s) will be expected to
sign said contract with the Town.
c. The Town reserves the right to reject any and all proposals received by reason of this RFP,
or to negotiate separately in any manner necessary to serve the best interests of the Town.
Banks whose proposals are not accepted will be notified in writing.
d. Any selected bank is prohibited from assigning, transferring, conveying, subletting, or
otherwise disposing of this agreement or its rights, title, or interest therein or its power to
execute such agreement to any other person, company, or corporation without prior written
consent of the Town.
Town of Boonton
Banking Services RFP
8. CRITERIA FOR EVALUATION OF PROPOSALS
a. Proven record of experience in providing the services detailed herein
b. Ability to provide services in a timely manner
c. Personnel qualifications (i.e., resumes of key personnel who will be responsible for the
work)
d. References (satisfaction of former and current clients)
e. Overall completeness, clarity, and quality of submission
f.
Scope of services (i.e., price proposal) and both gross and net cost of those services
9. PROCEDURE FOR EVALUATION OF PROPOSALS
The Town CFO, with the assistance of the Town’s Administrator, Finance committee and Mayor,
will evaluate each submission, and selection will be made upon the basis of the criteria listed
below:
a. All proposals shall be evaluated for: (1) compliance with the minimum requirements stated in
the Request for Proposal and (2) the relative benefits and deficiencies of the proposal as
compared to other proposals. Any contract award shall be based upon the proposal that
provides the maximum benefit to the Town while insuring reliable and effective service.
b. After an initial screening process, a technical question and answer conference or interview
may be conducted, if deemed necessary by the Town, to clarify or verify the banking
institution’s proposal and to develop a comprehensive assessment of the proposal.
c. The Town reserves the right to consider historical information and fact, whether gained
from the proposal, question-and-answer conferences, references, or any other source, in
the evaluation process.
The banking institution is cautioned that it is the bank's sole responsibility to submit information related
to the evaluation categories, and that the Town is under no obligation to solicit such information if it is
not included with the bank's proposal. Failure of the bank to submit such information may cause an
adverse impact on the evaluation of the submitted proposal.
Town of Boonton
Banking Services RFP
PART II
PROPOSAL REQUIREMENTS
Vendors are requested to propose banking services for the Town.
FORMAT
To assure consistency, responses must conform to the following format:
A.
Scope of Services
B.
Resume
C.
Facilities
D.
Conflict of Interest
E.
Fees
F.
Form of Contract
G.
Other Information
H.
Proposer’s Warranty
All sections are to be addressed and specifically referenced.
The following explains what we expect in each of the major sections. SECTION
A – SCOPE OF SERVICES
1.
GENERAL REQUIREMENTS
1.1 The banking institution must provide professional and reliable banking and related
accounting services pursuant to the specifications contained herein.
1.2 All services shall be provided on an as-needed, if-needed basis to the sole satisfaction of the
Town.
1.3 The banking institution shall conduct all activities/services according to all applicable
federal, state, and local laws, rules, and regulations for the duration of its relationship with
the Town. It is incumbent on the institution to be knowledgeable of all laws, regulations,
and standards applicable to New Jersey municipal governments.
1.4 The institution must maintain all applicable federal, state and local government registrations
and must remain in good standing with the State of New Jersey, as may be required by law
or regulation.
1.5 The Town reserves the right to terminate its banking relationship or agreements, or
otherwise withdraw funds from any banking institution doing business with the Town as a
result of this Request for Proposal, at any time, for the convenience of the Town, without
penalty or recourse.
1.6 The Town reserves the right to reject all proposals resulting from this RFP and/or to
make partial awards if, in the judgment of the Town, such partial awards would be in the
Town of Boonton
Banking Services RFP
best interest of the government.
1.7 Institutions submitting proposals must possess a current GUDPA certification.
1.8 Institutions submitting proposals should provide their current capital requirements and a
copy of their last fiscal audit.
Respondents to this RFP should include, as part of the minimum standards, a description of their
services available in and to this Town. Specifically, the Town would be interested in any special
account structure that would ease accounting and reporting requirements.
2.
MINIMUM REQUIREMENT FOR ALL ACCOUNTS
2.1 Provide a bank statement for each account as of the last business day of each month.
Preference would be to have the ability to electronically access all bank statements. If that is
not feasible, then these items should be delivered to the Town’s Chief Financial Officer’s
Office no later than the seventh day following the end of each month.
2.2 Daily notification via email with hardcopy to follow of any debit or credit memos affecting
our daily cash balances
2.3 Electronic banking:
- View statements online with an ability to view history for a six-month period
- View “real-time” activity for all bank accounts
- Make transfers between all accounts online by Town-designated individuals
- Make one-time and recurring wire transfers (out) on-line, by Town-designated individuals
3.
ACCOUNT-SPECIFIC REQUIREMENTS
The Town has broken out the services it requires into two major components: (A) Operating Accounts,
and (B) Trust Accounts. It is up to each bank to determine how to package the costs of these services
when responding to this request.
The Town’s short-term investment activity is separate and distinct from these components and will not be
covered in this process.
A.
OPERATING ACCOUNTS
The Town maintains a number of accounts that are used for its day-to-day operating
transactions. (See Exhibit A for a listing and a 6-month average balance.) Please state in detail
how you will provide each of the following services:
1. The Town wishes to receive cleared checks on a Certified CD of checks paid, sorted
numerically, with a duplicate courtesy copy sent to the Town’s auditors. If this is not
possible then checks must be sorted numerically and summarized by date paid, providing
a detail record substantiating the “amount paid”.
2. The bank must be able to submit electronic files to the Town of paid items that can be
run against check files to produce its own outstanding check list for all checking
Town of Boonton
Banking Services RFP
accounts. The Town will complete its own reconciliation of accounts.
3. Automatic redeposit of all NSF checks not to exceed two (2) attempts. Copies must be
provided of all checks that do not clear.
4. The Town seeks daily armored car and/or messenger service to be provided by the
Respondent. The principal location for pickup is the ground floor, Town Hall, located at
100 Washington St, Boonton, N.J.
5. Accept and process the “Payroll Direct Deposit File” electronically as late as Thursday
morning, so that payroll will be available by 12:01 AM on payday, usually Friday, except
for holidays.
6. Provide a monthly account analysis and/or a worksheet for each Developer’s escrow or like
accounts.
7. The Town requires checks, deposit slips, and micro-encoded lock
bags. 8
B.
TRUST ACCOUNTS
The Town has accounts referred to as Money Market Funds that have a balance which
remains relatively constant. (See Exhibit C for detailed listing and average balances.) The
Town is asking that these accounts be given special consideration. These accounts are
reserves and are unlike the typical operating accounts. They require a minimal amount of
servicing.
Transactions are generated through account transfers and will be directed electronically by
the Town’s designated employees.
Due to the nature of these accounts, the Town is looking for these funds to be invested at a
more competitive rate of interest for the next one-year term, after which either party could
terminate the agreement. The Town would like to encourage a guaranteed rate similar to a
CD rate or any other arrangement that will result in a better return for the Town than the
interest rate of its operating accounts. The average balance over the last 12 months has been
approximately $13.2 million.
SECTION B – RESUME
This section shall address these areas:
1.
Name and address of your bank and the corporate officer authorized to execute
agreements
2.
Briefly describe your bank’s history, ownership, organizational structure, location of its
management, and licenses to do business in the State of New Jersey.
3.
Describe in general your bank’s regional, statewide, and local service capabilities.
Town of Boonton
Banking Services RFP
4.
Provide and identify the names, experience, qualifications, and applicable licenses held
by the individual(s) primarily responsible for servicing the Town and any other
person(s), whether as employees or subcontractors, with specialized skills that would be
assigned to service the Town.
5.
Provide a listing of other local governmental clients with which you have similar
contracts; include the name, address, and telephone number of the contact person.
6.
Provide your bank’s insurance coverage as set forth in Part I, Section 5.0 of this RFP.
7.
Provide a statement of assurance to the effect that your bank is not currently in violation
of any regulatory rules and regulations that may have an impact on your operations.
SECTION C – FACILITIES
This section should address these areas:
1.
OFFICE / BRANCH LOCATIONS
A.
For your bank’s facilities that are located in Morris County, provide:
1.
The location(s)
2.
Hours of operation at your location(s)
3.
Bank personnel assigned to this location(s)
4.
The activities of the bank performed at this location(s)
5.
Any proposed facilities to be constructed in Morris County.
B.
For those facilities and activities located elsewhere, please explain the activities
performed there and why they are best performed at a different office. Banks
where all activities are performed at one location should leave this paragraph
blank.
SECTION D – CONFLICT OF INTEREST
This section should disclose any potential conflicts of interest that the bank may have in performing
these services for the Town.
SECTION E – FEES AND QUOTATION FORMAT
To facilitate the evaluation process, the banking institution is encouraged to organize its proposal into
distinct sections that correspond with the specific banking/investment/accounting activities described in
the Minimum Scope of Services. In addition, each distinct section should be titled, and all proposals must
address, at a minimum, the questions listed below:
1.
What is the current rate of interest on checking, business savings, and money market
accounts, as of the date of your response to this RFP?
2.
Are these rates fixed? If not, what are the formulas for determining the variable rates of
Town of Boonton
Banking Services RFP
interest?
3.
What is the balance used for interest calculations (i.e., collected, compensating, actual
balance, etc.)?
4.
What is the reserve requirement assessed against the average daily collected balance?
5.
What is the clearing time on checks drawn on your bank? Other local banks and out of state
banks?
6.
By what time of day should deposits and/or wired investments be received to be transacted
on that day?
7.
Indicate the bank’s charges, if any, for the services listed in Exhibit A.
8.
Indicate the bank’s method for covering these fees (i.e., compensating balances, earnings
credit, debit memo, etc.).
9.
Describe your automated cash-management system that provides online computer and
touch-tone service. Identify hardware requirements and security measures. What kind of
hardware would the Town need to implement an electronic service? Are there any
system constraints that apply?
10.
What provisions would be made to assure that all requirements of this proposal are met for
the duration of the contract in the event of a takeover by another banking institution?
11.
Please indicate startup costs, if any, the Town will incur to convert to your bank.
Note: The Town reserves the right to negotiate with any or all vendors meeting the evaluation
criteria set forth herein. Negotiations will be conducted in accordance with the Town’s RFP
policy.
SECTION F – FORM OF CONTRACT / AMENDMENT OF CONTRACT
1. The form of contract will be determined by the Town’s Solicitor. If your bank has a
proposed form of contract, please supply a copy with your proposal.
2. Contracts awarded pursuant to this RFP may be amended to provide for closely related
services, the need for which may arise or become apparent after the original contract award.
SECTION G – OTHER INFORMATION
This section is for any additional pertinent data and information not included elsewhere in the RFP and
determined necessary or informative by your institution.
All information required by the RFP must be supplied to constitute a valid proposal.
Town of Boonton
Banking Services RFP
SECTION H – PROPOSER’S WARRANTY:
The person signing the proposal warrants that:
1. He or she is an officer of the organization
2. He or she has been specifically authorized to offer a proposal in full compliance
with all requirements and conditions as set forth in the RFP.
Town of Boonton
Banking Services RFP
EXHIBIT A. Operating Accounts - Balances
BANK ACCOUNT NAME
6 MONTH AVERAGE JAN-JUNE
1
Current/Capital
$23,227,681
2
Water Operating/Capital
$10,801,157
3
Sewer Operating/Capital
$1,368,591
4
Payroll/Payroll Deductions
$ 479,479
OPERATING ACCOUNTS:
$35,876,908
EXHIBIT B. Operating Accounts - Services
Service Descriptions
3 MONTH AVERAGE
PER MONTH
Analysis Maintenance - All accounts
88
Deposits - All departments
5185
Wire Transfer Fee-Domestic/In
6
Wire Transfer Fee-Domestic/Out
5
ACH Credits
3
ACH Debits
13
Checks - all accounts Inc. payroll checks (direct deposit for all starts 10/1/14)
2079
Stop Payments
5
Direct banking services
204
CD-ROM Archives - All accounts
0
Armored Car Bill
0
On-Line Internal Transfer – Item
5
Total Average Transactions per Month:
7,593
Town of Boonton
Banking Services RFP
EXHIBIT C. Trust Accounts - Balances
BANK ACCOUNT NAME
6 MONTH AVERAGE
1
Trust
$4,442,828
2
Trust: Recycling
$648,965
3
Trust: Affordable Housing
$32,167
4
Trust: State Unemployment
$705,238
5
Trust: Welfare PA Trust 1 and Welfare Social Services
$848,092
6
Trust: Escrow
$2,296,282
7
Trust: Community Development
$23,360
8
Trust: Recreation
$516,455
9
Trust: Municipal Alliance
$13,874
11
Trust: Animal Control
$263,558
12
Trust: Forfeited Assets
$211,587
TRUST ACCOUNTS:
$10,002,406.
EXHIBIT D. Other Accounts - Balances
BANK ACCOUNT NAME
6 MONTH AVERAGE JAN-JUNE
1
Trust: Tax Collector Escrow
$425,200.00
2
Municipal Court
$187,735.00
3
Municipal Court Bail
$9.745.00
OTHER ACCOUNTS:
$622,680.00
17
Town of Boonton
Banking Services RFP
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