The Board reviewed the 1st quarter performance report and discussed portfolio allocations in the context of recent market volatility. Updates were provided regarding ARPA funds expenditure plans and the Digital Government migration project, including the transition to Fiserv and PCI-DSS compliance progress. The Board engaged in contract discussions, voting to authorize agreements with CampusGuard and JPMorgan Chase, while requesting additional information regarding U.S. Bank prepaid card programs. Furthermore, the Board reviewed collateralization levels and discussed extensions for the Govolution contract to ensure payment-processing continuity.
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Banking Subcommittee of the Cash Management Policy Board Minutes
The meeting addressed updates regarding Merchant Services and PCI-DSS compliance, including the progress of the Govolution-to-Fiserv migration and the ongoing training program. Contract discussions were held concerning Banking Services and Electronic Payment Consulting Services, involving CampusGuard, U.S. Bank, and JPMorgan Chase, with specific consideration given to pricing and best and final offers. Additionally, the committee reviewed a collateralization memo ensuring deposits exceed statutory requirements and discussed the final extension for the Govolution contract.
