HomeMy Public PortalAbout2022-103 Resolution Authorizing the Addition of Payroll Direct Deposit Services with QCBTRESOLUTION 2022-103
RESOLUTION AUTHORING THE ADDITION OF PAYROLL DIRECT DEPOSIT
SERVICES WITH QUAD CITY BANK 81 TRUST
WHEREAS, the City of Riverdale, Iowa ("City") is a municipal corporation, organized and operating under
the laws of the State of Iowa; and,
WHEREAS, Quad City Bank & Trust offers payroll direct deposit for the following fees:
Monthly Fee = $40/month
Transaction Fee = $0.155/transaction
WHEREAS, staff estimates monthly and transaction fees will total approximately $500/year; and,
WHEREAS, there are many positive reasons to add payroll direct deposit, such as convenience, security,
consistency, easier bank reconciliations, eliminating paper costs, and online review and approvals; and,
WHEREAS, adding payroll direct deposit will elevate the City's accounts with Quad City Bank & Trust to
"Treasury Management Accounts," wherein the City will enjoy enhanced customer service with a
designated account representative at our service; and,
WHEREAS, Quad City Bank & Trust will provide on -site or virtual (at our discretion) payroll direct deposit
training at no additional cost to the City; and,
WHEREAS, gWorks` payroll module is already equipped for direct deposit at no extra costs or fees to the
City; and,
WHEREAS, the funding source for this action is 001-699-6407 Bank Fees.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RIVERDALE, IOWA,
THAT:
Section 1. The addition of payroll direct deposit with Quad City Bank & Trust is approved and the
Mayor and Clerk are authorized to execute all necessary paperwork and contracts.
Passed and approved this 13t" day of December 2022.
APPROVED:
ATTEST:
Anthony Heddlesten, Mayor Kelly Kr CI
ovlst
rk
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 1 (563) 355-2511 www.riverdaleiowa.corn