The banking relationship constitutes a critical element of cash management regarding the safety of the Texas Tech University System assets, service levels, and earning potential. The most cost effective banking services must be obtained, and the best level of service must be made available to all TTU System components.
To pursue these goals, system-wide service minimums, internal controls, and collateral requirements have been established. This operating policy/procedure (OP) is designed to institute controls and standardize banking and cash management policy elements across the TTU System.
Banking Services Request for Proposal
The existing depository contracts will expire in May 2014 for Angelo State University and in June 2014 for Texas Tech University and Texas Tech University Health Sciences Center.
The TTU System will issue a Request for Proposal (RFP) for all components during the 2013 calendar year. Once the RFP is issued, it will be available on TechBid. Following is the proposed timeline for this process:
08/15/13 - Distribution of RFP
09/20/13 - Deadline for submission of all questions regarding the RFP
09/27/13 - System’s final responses to submitted questions will be provided
10/04/13 - Deadline for proposal submission
10/07-11/08/13 - Evaluation of proposals
12/12/13 - Board of Regents meeting - award of contract
02/01/14 - Contract Commencement
05/31/14 - Existing ASU depository contract termination date
06/14/14 - Existing TTU/TTUHSC depository contract termination date