REQUEST FOR PROPOSAL (RFP)
Banking and Depository Services
Horizon Public Health
Serving Douglas, Grant, Pope, Stevens, and Traverse Counties, Minnesota
RFP Issue Date: 5/22/26
Proposal Due Date: 6/16/26
Proposal Submission Time: 11:59 p.m.

Download full PDF

1. INTRODUCTION
Horizon Public Health (HPH) is soliciting proposals from qualified financial institutions to provide
comprehensive banking and depository services. The selected institution must demonstrate the ability to
provide secure, efficient, and cost-effective banking services while complying with all applicable Minnesota
statutes governing public funds and have a branch office located in Douglas, Grant, Pope, Stevens or Traverse
counties.
The purpose of this RFP is to evaluate banking relationships, cash management services, technology platforms,
interest-earning opportunities, and related financial services to ensure Horizon Public Health continues to
maximize operational efficiency and stewardship of public resources.

2. ORGANIZATIONAL BACKGROUND
Horizon Public Health is a five-county public health agency serving Douglas, Grant, Pope, Stevens, and
Traverse Counties in west-central Minnesota.

Organization Overview

• Annual Operating Budget: Approximately $12.5 million
• Current banking structure includes:
  • One primary checking account
  • One money market account
  • Automated nightly sweep functionality between accounts
• Current investment activity includes:
  • Participation in the Minnesota Association of Governments Investing for Counties (MAGIC) Fund
  • One-year term investments and certificates of deposit (CDs)

Current Banking Activity (Monthly Average)

• Deposits/Credits: 59
• Checks/Debits: 135
• Average monthly transaction volume: $1,817,950
• Average monthly balance: $25,000 (nightly sweep to Money Market account)

Money Market Account (Monthly Average)

• Deposits/Credits: 9
• Checks/Debits: 12
• Average monthly transaction volume: $759,400
• Average monthly balance: $4,014,685

Payroll ACH Activity

• Payroll direct deposit ACH processing
• Average of 101 ACH payroll transactions per pay period
• 26 payroll cycles annually

Investment Activity

• $5,150,000 invested in MAGIC Fund
• One-year-term investments
• One-year Certificate of Deposit (CDs)

Credit Card Services

• Eight (8) employee credit cards currently issued
• Shared organizational credit limit of $50,000
• Interest in card management tools, controls, reporting, and fraud protections

Electronic Payment Processing

• Horizon currently utilizes Stripe as an online payment option for clients and the public to make payments by credit card.
• Average annual transactions: 275
• Average annual transaction volume: $56,740

Wire Activity

• Limited number of wire transfers annually
• Primary use is transfers to the MAGIC Fund for investment purposes

Remote Deposit

• Horizon is interested in remote deposit capture services and requests information regarding:
  • Availability of remote deposit scanners
  • Equipment costs
  • Deposit limits
  • Ongoing maintenance or support fees
    

3. LEGAL AND STATUTORY COMPLIANCE
The selected financial institution must comply with all applicable Minnesota statutes governing public deposits and investments, including but not limited to:

• Minnesota Statutes Chapter 118A – Public Funds; Depositories and Investments
• Public fund collateralization requirements
• Safekeeping and custody requirements
• Eligible investment standards for public entities

The institution must provide documentation describing its collateralization practices and procedures for securing public deposits.

4. SCOPE OF SERVICES
The selected financial institution shall provide, at a minimum, the following services:

4.1 Depository and Account Services

• Interest-bearing checking account
• Money market or equivalent high-yield account
• Automated sweep functionality between accounts
• Public fund collateralization
• Monthly statements and balance reporting

4.2 Treasury and Cash Management Services

• Online banking platform with multi-user access controls
• ACH origination and processing
• Payroll ACH support
• Wire transfer services
• Remote deposit capture services
• Positive Pay and fraud prevention tools
• ACH filters and blocks
• Daily balance and transaction reporting

4.3 Payroll ACH Services
Horizon Public Health requests detailed information regarding:

• ACH processing capabilities
• File transmission methods
• Security protocols
• Processing timelines
• ACH limits
• Fees associated with payroll processing

Current activity includes approximately:

• 101 ACH payroll transactions per pay period
• 26 payroll periods annually

4.4 Credit Card Services
The proposal should include available organizational credit card services, including:

• Individual employee cards
• Shared or adjustable credit limits
• Expense tracking and reporting tools
• Fraud monitoring and controls
• Rewards or rebate programs, if applicable
• Online management platform capabilities

Current structure includes:

• Eight employee cards
• Shared organizational limit of $50,000

4.5 Electronic Payment Integration
Horizon Public Health currently utilizes Stripe for online payment processing.
Proposals should indicate:

• Compatibility or integration capabilities with Stripe
• Alternative electronic payment solutions offered
• Merchant service capabilities and associated fees

4.6 Investment and Wire Transfer Services

• Wire transfer capabilities
• Support for transfers to investment accounts including MAGIC Fund transactions
• Safekeeping services for CDs or eligible investments
• Investment support or advisory services, if available

4.7 Remote Deposit Capture
Provide information regarding:

• Remote deposit scanner options
• Initial equipment costs
• Monthly service fees
• Deposit processing timelines
• Technical support availability
• Scanner maintenance or replacement policies

4.8 Reporting and Technology

• Online banking access and reporting tools
• Export capability for accounting software integration
• Audit and transaction reporting
• User permissions and approval workflows
• Mobile banking capabilities

4.9 Customer Service

• Dedicated account representative
• Local or regional support availability
• Training opportunities for staff
• Ongoing technical and treasury management support

4.10 Location
The selected financial institution must have an office location in one or more of the following MN counties:

• Douglas, Grant, Pope, Stevens, Traverse

4.11 Additional Services and Areas of Expertise
Financial institutions are encouraged to provide information regarding any additional services, programs, or areas of expertise that may provide value to Horizon Public Health, including but not limited to:

• Public sector financial expertise
• Fraud prevention education
• Cybersecurity services
• Investment management support
• Merchant services
• Purchasing card programs
• Electronic payment modernization
• Financial reporting tools
• Other innovative banking solutions

5. IMPLEMENTATION AND TRANSITION
Proposals must include a detailed implementation and transition plan outlining:

• Account setup process
• Estimated implementation timeline
• Staff training
• Transition support
• Coordination of ACH, online banking, sweep accounts, and card services
• Minimization of operational disruption

6. PROPOSAL REQUIREMENTS
Proposals should include the following sections:

6.1 Institutional Information

• Institution overview and history
• Financial stability information
• Experience serving Minnesota governmental entities
• Public fund collateralization practices

6.2 Service Approach

• Description of banking and treasury services
• Online banking and security features
• Fraud prevention capabilities
• Branch locations in Douglas, Grant, Pope, Stevens, and Traverse Counties

6.3 Fee Proposal
Provide a complete fee schedule including:

• Monthly maintenance fees
• ACH fees
• Wire transfer fees
• Remote deposit fees
• Scanner costs
• Credit card program fees
• Merchant service fees
• Online banking fees
• Any implementation or training costs

6.4 Interest Rates
Provide:

• Current interest rate structures
• Earnings credit details
• Sweep account rate methodology
• Historical trends if available

6.5 Cut-off Times
Provide cut-off times for:

• ACH uploads
• Wire transfers
• Positive Pay

6.6 References
Provide at least three references from Minnesota governmental or public sector clients of similar size and complexity.

7. EVALUATION CRITERIA
Proposals will be evaluated based on:

Criteria	Weight
Compliance with Minnesota Statutes	15%
Interest Rates / Earnings Potential	15%
Fee Structure / Overall Cost	15%
Treasury & Cash Management Services 10%
ACH & Payroll Processing Capabilities	10%
Technology & Online Banking	10%
Fraud Prevention & Security	10%
Experience with Public Entities	5%
Customer Service & Responsiveness	5%
Remote Deposit & Additional Services	5%

8. SUBMISSION INSTRUCTIONS
Proposals must be received no later than:

Date: 6/16/26
Time: 11:59 p.m.

Submit proposals electronically in PDF format to:

Greta Siegel
Horizon Public Health
809 Elm Street, Suite 1200
Alexandria, MN 56308 gretas@horizonphmn.gov (320) 762-3046
Late submissions may not be considered.

9. QUESTIONS AND ADDENDA
Questions regarding this RFP must be submitted in writing no later than:
Question Deadline: 6/5/2026
Responses may be shared with all known proposers.

10. GENERAL TERMS AND CONDITIONS

• Horizon Public Health reserves the right to reject any or all proposals
• Horizon may waive minor irregularities
• Proposal preparation costs are the responsibility of the proposer
• Final terms and conditions will be negotiated with the selected institution

11. RESERVATION OF RIGHTS
Horizon Public Health reserves the right to:

• Accept or reject any proposal
• Cancel or reissue the RFP
• Request interviews or additional information
• Select the proposal deemed in the best interest of Horizon Public Health

12. BOAD APPROVAL PROCESS
Following proposal review and evaluation, the Finance Committee will provide a recommendation to the Horizon Community Health Board for consideration and approval of a banking services agreement.

13. PUBLIC NOTICE
Horizon Public Health is soliciting proposals from qualified financial institutions for banking and depository services.

Interested institutions may obtain additional information by contacting:
Greta Siegel
Horizon Public Health
✉️ gretas@horizonphmn.gov
📞(320) 762-3046

Horizon Public Health reserves the right to reject any or all proposals and waive informalities in the process.