The Columbus City Council is set to consider an ordinance to authorize the City Treasurer to modify its contract for banking services with JP Morgan Chase Bank. This modification will add an additional $1,900,000.00 in funding for various banking services, including merchant processing and lockbox operations. The original contract, initiated on September 1, 2023, was for a period of ten years, subject to annual appropriations. The need for additional funding arises from increased volume and integration of these services by city agencies, which could not be precisely foreseen at the time of the initial contract award. This is the sixth modification to the contract, bringing the estimated total contract value to $6,813,000.00.