with most RBC banking products. In addition, other RBC service agreements, including a Delivery Agent Agreement and a Card Program Delivery Agent Agreement between the service delivery agent (Employment & Social Services) and RBC must be executed. These agreements inlcude general bank account operational matters as well as include the terms and conditions related to the RPC specific to OW social assistance.

The bank new account will be in the name of the City of Windsor and will be known as: CofW - Ontario Works-ReloadablePaymentCards. The account will require two signatories. Consistent with the current OW bank account held at Scotiabank, the primary signatories are the City Treasurer and the Executive Director of Employment & Social Services. All other bank accounts also allow for the signature of any one of the three Deputy Treasurers as alternates being; Deputy Treasurer - Financial Accounting, Deputy Treasurer - Taxation & Financial Projects, Deputy Treasurer - Financial Planning. The City of Windsor is seeking City Council approval to establish a new bank account with RBC with all the noted signing authorities.

Further, it should be noted that Scotiabank will remain the City's primary financial institution as per CR215/2015 and CAO-4302. This decision to establish a new bank account with RBC is for the sole purpose of carrying out the RPC Program.

Risk Analysis:

There is a timing risk of not having the legal agreements executed and the RPC deposit account open early in 2020. In order to meet the target implementation date for the RBC Right Pay Card (RPC) program by April 2020, the related agreements require City signatures/submission to RBC by early February 2020. This will ensure there is enough time to open the RBC deposit account and continue with site readiness planning, including testing.

It should be noted that the 2020 MCCSS funding envelope for administrative costs has been capped at the City's 2018 actual expenditure level. Discussions are being held with Ministry staff with regards to the impact of this cap as it relates to projected 2020 administrative costs. There is a risk that these banking related fees may become a full municipal cost.

Currently all City of Windsor operating accounts, including those used for the purpose of issuing assistance to OW clients, held at Scotiabank (primary financial institution) are covered by way of a mirror netting arrangement. This arrangement ensures that there are no fees incurred due to insufficient funds (NSF). Due to the fact that this RBC account is a stand alone account there is a risk should the funding of the account not align with the transfer of funds to client cards that NSF fees be applied. Administration will mitigate this risk by maintaining a minimum bank balance above that which is required for program delivery. RBC has agreed to pay interest on a tiered basis depending upon the minimum balance maintained.