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File #: 21-6460    Version: 1 Name:
Type: Transmittal Status: Agenda Ready
File created: 11/16/2021 In control: Commissioners Court
On agenda: 11/30/2021 Final action:
Title: Transmittal by the County Treasurer to notify Commissioner's Court of the inclusion of a minority-owned bank into the County's banking processes.
Attachments: 1. 21-6460 Treasurer MWBE.Banking.Memo.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Department: Treasurer
Department Head/Elected Official: Dylan Osborne

Regular or Supplemental RCA: Regular RCA

Type of Request: Transmittal

Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): Cadence Bank; Unity Bank
MWDBE Participation (if applicable):

Request Summary (Agenda Caption):
title
Transmittal by the County Treasurer to notify Commissioner's Court of the inclusion of a minority-owned bank into the County's banking processes.
end


Background and Discussion:

The Harris County depository contract currently does not have MWBE participation. This action will incorporate a minority-owned bank into the county's banking business at no cost to the county. Cadence Bank, our contracted depository, will enter into an agreement with Unity Bank to provide Outsourced Disbursements, and Cadence will pay for these services using our earnings credit.


Expected Impact:

No monetary impact


Alternative Options:

N/A

Alignment with Goal(s):
_ Justice and Safety
x_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
_ Governance and Customer Service

Prior Court Action (if any): N/A
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Fiscal and Personnel Summary
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FY 21-22
FY 22
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Existing Budget
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Total Current Budget
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Additional Budget Requested
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Personnel (Fill out section only if requesting new PCNs)
Current Position Count for Service
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Additional Positions Requested
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Total Personnel
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