Depository Contracts

 
 

Charter Schools

The Texas Administrative Code (TAC), Section 100.1043(b), requires that state funds received by a charter holder must be deposited into a bank with which the charter holder has entered into a depository contract.  By November 1 of each year the charter holder must complete and submit a Depository Contract for Funds of Open-Enrollment Charter Schools. 

However, if there have been no changes to the accepted depository contract currently on file with the Division, the charter holder is required to file a signed statement to this effect.  Additionally, if there will be any changes to the current direct deposit account information, the charter holder must submit a Vendor Direct Deposit Authorization (VDDA) form.  It is recommended that the charter holder review the instructions prior to submission, as the depository contract and the direct deposit form will not be accepted if the forms are incomplete or incorrect.

       • Charter School Depository Contract (PDF, 401KB)
       • Charter School Depository Contract Laws and Procedures (PDF, 26KB)
       • Vendor Direct Deposit Authorization Form (PDF, 270KB)  
       • Vendor Direct Deposit Authorization Form Instructions for Charter Schools (PDF, 19KB)

The statement of no change in depository contract can be submitted via e-mail or fax.  The statement can be e-mailed to iona.escobedo@tea.state.tx.us or faxed to (512) 463-1777.

School Districts

In accordance with the Texas Education Code (TEC), Section 45.205, each school district's depository contract must be renewed every two years.  Approximately in January of each odd-numbered year, a notice will be mailed to the superintendent regarding the school district’s depository contract renewal.  It is recommended that the school district review the following document prior to submitting bids or request for proposals as forms will not be accepted if they are incomplete or incorrect.   

Extension:

A school district may extend a depository contract for two additional two-year terms, if the school district did not file an extension in the two previous bienniums and the school district and the depository bank agree to extend the current depository contract. 

       • School District Extension Form (PDF, 390KB)  

Contract Renewal:


All school districts which are selecting a depository must properly complete and submit the following documents to the Texas Education Agency, Division of Financial Compliance: 

       1. Three (3) completed and signed Depository Contracts for Funds. 
       2. One (1) Depository Competitive Bid/RFP Data Sheet, completed and signed. 
       3. One (1) copy of the accepted Bid Form or Proposal Form for Depository Services. 
       4. One (1) Vendor Direct Deposit Authorization (VDDA) form, if applicable. 
       5. One (1) completed and signed Texas Surety Bond form, if applicable.


A school district shall choose whether to select a depository through competitive bidding or through requests for proposals. The forms are provided below. 

        • Bid Form  (PDF, 89KB / Word, 128KB
        • Request for Proposal (RFP) Form (PDF, 78KB / Word, 128KB
        • Attachment A (PDF, 2135KB / Excel, 252KB
        • Attachment B (PDF, 22KB / Word, 36KB
        • Sample Bid Notice (PDF, 486KBWord, 54KB)
        • Sample RFP Notice (PDF, 487KB) / Word, 54KB)


The depository contract for funds, the surety bond form and the depository contract data sheet are also filed with the Agency. 

        • School District Depository Contract for Funds (PDF, 706KB)
        • School District Depository Surety Bond Form (PDF, 509KB)
        • School District Data Sheet (PDF, 401KB)


If the school district is making changes to the direct deposit account, then a Vendor Direct Deposit Authorization form must be submitted. 

        • Vendor Direct Deposit Authorization Form (PDF, 270KB)
        • Vendor Direct Deposit Authorization Form Instructions for School Districts and ESCs (PDF, 18KB)


Additional information can be found in the Financial Accounting and Reporting (FAR) module in the Financial Accountability System Resource Guide; Special Supplement to the Financial Accountability System Resource Guide, Charter Schools; Texas Administrative Code(TAC) §100.101(d), 1013 and 1043(b); and and theTexas Education Code (TEC) §45.201-9.

For additional information, contact:

Gayle Escobedo (512) 475-2372 Iona.Escobedo@tea.state.tx.us

Dana Flores (512) 475-1284 Dana.Flores@tea.state.tx.us

Elsa Dominguez (512) 463-7652 Elsa.Dominguez@tea.state.tx.us

 

 


Division of Financial Compliance

Phone:  (512) 463-9095

E-mail:  schoolaudits@tea.state.tx.us

Page last modified on 7/16/2013 08:11:32 AM.