Posting Language
Title
Approve an ordinance designating JP Morgan Chase Bank, N.A. as the depository for the City's funds and authorize a contract for bank depository services for Austin Financial Services with JP Morgan Chase Bank, N.A. for a term of five years in an amount not to exceed $2,500,000. Funding: $40,000 is available in the Operating Budget of Austin Financial Services. Funding for the remaining contract term is contingent upon available funding in future budgets.
Body
Lead Department
Austin Financial Services.
Client Department(s)
All City Departments.
Fiscal Note
Funding in the amount of $40,000 is available in the Fiscal Year 2025-2026 Operating Budget of Austin Financial Services. Funding for the remaining contract term is contingent upon available funding in future budgets.
Procurement Language:
Austin Financial Services issued a Request for Applications solicitation RFA 7400 MMO3020 for these services. The solicitation was published on December 22, 2025, and closed on February 5, 2026. Of the three offers received, the application submitted by the recommended contractor represented best value to the City based on the solicitation's evaluation criteria. A complete solicitation package, including a log of offers received, is available for viewing on the City's website. This information can currently be found at https://financeonline.austintexas.gov/afo/account_services/solicitation/solicitation_details.cfm?sid=143351.
MBE/WBE:
This contract will be awarded in compliance with the City Code Chapter 2-9B (Minority-Owned and Women-Owned Business Enterprise Procurement Program). For the services required for this solicitation, there were no subcontracting opportunities; therefore, no subcontracting goals were established.
For More Information:
Direct questions regarding this Recommendation for Council Action to the Austin Financial Services - Central Procurement at: FSDCentralProcurementRCAs@austintexas.gov or 512-974-2500. Respondents to the s...
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