District Adopts NYCLASS-Based Rate With Community Bank

Randolph Central School District will maintain its cash and operating accounts with Community Bank under a variable interest arrangement that pays the NYCLASS rate minus 0.10%. The agreement emphasizes operational efficiencies and immediate interest earnings on major deposits such as tax collections and State Aid.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

Ongoing, variable interest rate tied to NYCLASS (NYCLASS rate minus 0.10%)

Renewal

Ongoing banking relationship with no fixed end date; rate floats daily based on NYCLASS minus 0.10% and may be adjusted if renegotiated.

Document type

Report

Source document

Randolph Central School District Board of Education Report August 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Randolph Central School District?

Community Bank was awarded this financial services contract by Randolph Central School District, as recorded on August 1, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a report record.

Where was this contract approved?

This contract appears in Randolph Central School District Board of Education Report August 2026 (Report), dated August 1, 2026 from Randolph Central School District. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Community Bank hold?

Community 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.

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