Title
Resolution to Approve an Assignment of and Amendment to the City's Agreement with New World Systems Corp. to Tyler Technologies, Inc. for 5-year Software Support and Maintenance of the City's Logos.net Financial System FY2021-FY2025 ($291,589.00)
Memorandum
Attached for your review and action is a resolution authorizing an assignment of the City's Software License and Services Agreement with New World Systems Corporation to Tyler Technology, Inc., and an Amendment of such Agreement to provide for 5 years of software support and maintenance for the City's Logos.net financial system software, used for budgeting, invoicing, accounts payable, financial tracking and reporting for FY2021-FY2025, in the amount of $291,589. The City entered into an agreement with New World Systems Corp. to provide the Logos.net system on December 16, 2009. New World provided that system until Tyler and New World merged effective November 16, 2015, with Tyler as the surviving entity that assumed New World's obligations to the City under the previous agreement.
Budget/Fiscal Impact: This expenditure is planned and budgeted in the approved FY2021 Information Technology Services Unit budget and will be budgeted for in the FY2022-FY2025 Information Technology Services Fund Budget. There are no additional funds being requested.
The LOGOS Financial System has been instrumental in allowing business units to systematically manage and control spending. The system allows for monthly reporting and workflow routing for approvals of accounts payable invoices, accounts receivable, purchases, etc. The budgeting software has allowed employees, administration, and management to track, process, manage, and review the City's budget from the beginning of the budget planning process through the approval of the new budget. It is also an integral element of the City's daily financial operations, and essential to the annual audit process. It is imperative to maintain the agreement with Tyler Techno...
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