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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

Date

Agenda Item #

Action Taken

 

 

 

 

 

Location:

Address (if applicable):

Precinct(s): Choose an item.

 

 

Fiscal and Personnel Summary

Service Name

 

 

FY 21-22

FY 22

Next 3 FYs

Incremental Expenditures (do NOT write values in thousands or millions)

Labor Expenditures

$

$

$

Non-Labor Expenditures

$

$

$

Total Incremental Expenditures

$

$

$

Funding Sources (do NOT write values in thousands or millions)

Existing Budget

Choose an item.

$

$

$

Choose an item.

$

$

$

Choose an item.

$

$

$

Total Current Budget

$

$

$

Additional Budget Requested

Choose an item.

$

$

$

Choose an item.

$

$

$

Choose an item.

$

$

$

Total Additional Budget Requested

$

$

$

Total Funding Sources

$

$

$

Personnel (Fill out section only if requesting new PCNs)

Current Position Count for Service

-

-

-

Additional Positions Requested

-

-

-

Total Personnel

-

-

-

 

 

Anticipated Implementation Date: December 2021

Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item

Contact(s) name, title, department: Dylan Osborne, County Treasurer

Attachments (if applicable):  Memo is attached