Lockbox Services for City of Lee's Summit Water Utility

The City of Lee's Summit is issuing a Request for Proposals (RFP) for Lockbox Services to manage payments for its Water Utility Support Services Division. The utility generates over $50 million in revenue annually, with approximately 40,000 invoices distributed monthly across four billing cycles. The selected provider will be responsible for processing mailed checks, which in 2025 amounted to $10.2 million in payments. The services require banking institutions to be federally chartered and insured by the FDIC, with a minimum Standard Form 24 Financial Institution Bond of $5,000,000 and a satisfactory CRS rating. Key requirements include daily processing and deposit of receipts, electronic transmission of daily activity data, secure communication, high-quality digital imaging of payment records, and the ability to handle overpayments and unmatched items. The contract will have an initial one-year term with four one-year renewal options.