Administrative Procedure: 511
BANKING SERVICES AND BORROWING
Background
Banking services for the District shall be awarded to the financial institution which can best deliver a reasonable, competitive price, a high level of service and is domiciled in Delta.
Procedures
1. Banking Services
1.1 Banking services for the District shall be opened to competitive bid at least every ten (10) years.
1.2 The initial appointment shall not exceed five (5) years.
1.3 Subsequent to the initial appointment, the Superintendent or designate may extend the appointment for one (1) additional five (5)-year period.
Reference: Sections 22, 23, 65, 81, 85, 106.3, 106.4, 110, 111, 112, 112.1, 113, 114, 115, 117, 118, 156, 157, 157.1 School Act
Financial Information Act
Revised: May 2013
Procedure 511