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.

Staff Report & Agenda Item Details

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.

This docket item is classified as NEUTRAL (0.0 Score Impact). Routine administrative reports, monthly accounts payable/disbursement registers, minutes approvals, and procedural motions are logged for public transparency but carry zero weight in calculating an official's Roll-Call Freedom Score.