The State Treasurer’s Office serves as the state’s bank and records the receipt and disbursement of all state moneys. Every day the State Treasurer’s Office:
- Performs a variety of financial transactions that concentrate money collected by all state agencies into the state’s servicing bank.
- Coordinates anticipated cash flows and communicates this information to the Portfolio Managers so they can make accurate revenue forecasts and optimal investments.
- Ensures that all financial activities are performed in a secure environment to speed up the safe movement of funds.
- Incorporates innovative ideas and cost-effective technology to improve the financial services it offers to provide the accuracy, efficiency, security, transparency and accountability demanded by both state agencies and taxpayers.
Servicing Bank Contract
Pursuant to A.R.S. 35-315, the State Treasurer is responsible for awarding the servicing bank contract to a qualified bank presenting the highest value for banking services. County and municipal governments can also “piggy-back” on the contract for their banking services, using the rates offered to the state. The servicing bank contract is awarded for a term of three years with two one-year extensions. The current contract expires in December 2014.
Bank of America is the current servicing bank for the Office of the Arizona State Treasurer. For state agency locations that are not in the proximity of a state servicing bank branch, the Treasurer’s Office also maintains a working relationship with Bank of the West, JPMorgan Chase, National Bank of Arizona, Wells Fargo, and Zions Bank.
SERVICING BANK & MERCHANT CARD PROCESSING RFP #16-01
Servicing Bank & Merchant Card Processing RFP 16-01 amendment 1
Servicing Bank & Merchant Card Processing RFP 16-01 Q&A
Appendix A Description List
Banking Service Authorization
Pursuant to A.R.S. 35-315-F, agencies interested in banking services must have the services authorized by the State Treasurer’s Office. The Request for Banking Services Form should be filled out and returned to the Banking Services Manager Kim Peed.
Agency Account Authorization
Pursuant to A.R.S. 35-142, agencies interested in opening a bank account must have that account authorized by the State Treasurer. The Request for Agency Bank Account Form should be filled out and returned to the Banking Service Manager Kim Peed. The approved copy will be returned to the account custodian.
State Employee Group Banking Program
The State Treasurer has negotiated with several banks and credit unions to provide group banking services for State Employees. Group banking services provides free or reduced cost banking for state employees. Additional information about the services available from each participating institution is available here.
My staff and I are dedicated to safeguarding the hard earned tax dollars of our citizens. Our primary goal is the safety of your tax dollar through prudent custody and management of funds. We will provide the most effective and efficient services with full transparency and financial clarity.