FINANCIAL_SERVICESAPPROVED

Township of Franklin School District Awards Financial Services Contract to Newfield National Bank (May 2026)

The Board approved borrowing up to $859,424 from Newfield National Bank to cover temporary cash flow needs caused by delayed state school aid. The loan will be repaid once state funds are received, no later than mid-July 2026.

Status
APPROVED
Document date
May 18, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Newfield National Bank
Agency
Township of Franklin School District · NJ

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $859,424
Contract type
FINANCIAL_SERVICES
Contract term
Until date of payment of delayed June state aid payments (no later than July 14 or 15, 2026)
Renewal date
2026-07-15
Renewal
Temporary borrowing; repayment due when state aid is received; not an ongoing or renewable contract.
Document type
Agenda
Source document
Township of Franklin School District Agenda Regular Board Meeting 2026-05-18

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Township of Franklin School District?

Newfield National Bank was awarded this financial services contract by Township of Franklin School District, as recorded on May 18, 2026. The contract value is Not to exceed $859,424.

How much is the Newfield National Bank contract with Township of Franklin School District worth?

The Newfield National Bank contract with Township of Franklin School District is valued at Not to exceed $859,424, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Township of Franklin School District Agenda Regular Board Meeting 2026-05-18 (Agenda), dated May 18, 2026 from Township of Franklin School District. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Newfield National Bank hold?

Newfield National Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Newfield National Bank's profile

What is Township of Franklin School District currently buying?

Explore Township of Franklin School District's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Township of Franklin School District's profile

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