Government Contract | Virginia
Southside Virginia Community College Banking Services

Bid Information

Bid Alert No: 00000399835

Bid Title: Southside Virginia Community College Banking Services

Agency Bid No. Title: SVBK15

Received Date: 10/22/2015

Close Date: 11/05/2015

Purchase Type: January 1, 2016 through December 31, 2018

Delivery Point:

Delivery Date: Not Stated


Specifications include, but are not limited to: The purpose of this Request for Proposals (RFP) issued by Southside Virginia Community College is to solicit sealed proposals to establish a contract with one (1) qualified financial institution through competitive negotiation to provide banking services to the College for an initial three year period with two (2) one- year options to renew.II. BACKGROUND: Southside Virginia Community College, a unit of the Virginia Community College System, serves the counties of Brunswick, Buckingham, Charlotte, Cumberland, Greensville, Halifax, Lunenburg, Mecklenburg, Nottoway, Prince Edward and the City of Emporia. The College has a campus in Alberta, Virginia and one in Keysville, Virginia. It also has the Southside Virginia Education Center in Emporia, Virginia, the Southern Virginia Higher Education Center in South Boston, Virginia, the Estes Community Center in Chase City, Virginia, The Occupational Technical Center at Fort Pickett, Virginia and the Lake Country Advanced Knowledge Center in South Hill, Virginia.The Colleges banking activities can be broken down into two main categories as follows: the deposit of State funds to the Commonwealths General Account, and the management and investment of local or college funds. The College generates revenues from State appropriations, tuition and fees, auxiliary enterprises, gifts, grants, endowment income, and other sources. The College currently receives funds via ACH electronic transfer arrangement with the U.S. Department of Education and receives electronic payments from various state agencies.A substantial portion of the cash receipts collected by the College are State funds which are deposited to the Commonwealths General Account. Although the Commonwealths General Account is not part of this RFP, it is possible that State funds could be deposited at the same financial institution chosen via this RFP to provide services to the College for their local funds. The College maintains a federal funds account and a local funds account for deposits & disbursements.

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Product Code: 94625

Agency Information

Issuing Agency: Southside Virginia Community College

State: Virginia

Agency Type: State and Local

Contact: Southside Virginia Community College, 109 Campus Drive, Alberta, Virginia, 23821



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