The school district has been with the current financial institution, PNC Bank, as the main depositor since 2005. In recent years, financial services structures have changed with banking institutions. As a result, Mrs. Kirk determined in November 2021 it was prudent to issue a Request for Proposals in order to ensure the services we are receiving are at the lowest cost and investment returns are the most marketable. The document was issued to seven (7) selected financial institutions and was posted on the district website. A copy of the Request for Proposal document is attached as reference.
For board consideration at the regular March meeting, there will be a motion to approve First National Bank (FNB) as the primary depositor for financial services for the Pine-Richland School District following a formal Request for Proposal process.