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School board asks staff to research banking contract and procurement practices after long relationship with Synovus
Summary
Board members questioned why Muscogee County School District has not periodically rebid its depository relationship (Synovus) and directed staff to research how other districts issue banking RFPs, estimated transition costs and possible policy changes; no procurement decisions were made at the work session.
Board members debated Feb. 10 whether the Muscogee County School District should re-solicit proposals for banking services after what several members described as a long-standing relationship with Synovus Bank.
Board member Janice Buckner (listed in committee discussion) asked why district banking services had not been competitively re-bid on a periodic cycle. Staff said the district historically put the services out for bid in 1997 and again every five years for a time; staff reported the last formal solicitation they could locate dated to about 2011. Synovus has won prior solicitations, staff said, and the district continued with the relationship. Staff also noted operational considerations such as branch access for employees, electronic-banking usage, and the administrative effort involved in transitioning payroll and deposits.
Several board members pressed for clarity and said they preferred following board policy that calls for periodic review of products and services. The board directed staff to gather comparative information from other school districts about banking procurement practices, to return with a recommended schedule or policy language, and to estimate transition costs in hours and dollars for moving banking services if the board later chose to solicit and award a new contract.
Why it matters: The district holds accounts and processes payroll and benefits for thousands of employees; changes to the depository relationship carry operational costs, potential disruption to direct deposit and vendor payments, and statutory/procurement implications. Board members emphasized best-practice procurement and transparency but cautioned against changing banks without a plan.
Next steps: Staff will research how peer districts handle banking solicitations, provide a timeline and cost estimate for an RFP and potential bank transition, and return with suggested policy revisions or a recommended review cadence.
