Title
Resolution to Approve a Purchase Order for Annual Maintenance and Support of the Sympro Investment and Debt Management Software for FY2021 ($25,593.22)
Memorandum
Attached for your review and consideration is a resolution to approve a purchase order in the amount of $25,593.22 to Sympro for the renewal of their Investment and Debt Management Software annual maintenance and support for FY2021.
In 2010, the SymPro investment and debt modules were purchased as part of the City's Financial System upgrade to LOGOS to provide mandated functionality that is not available in the core LOGOS application. The Investment Module allows the City to track our pooled investment portfolio and allocate accrued interest earnings to all funds that participate. The Debt Module allows us to track and confirm all debt issues for the City. During the course of a year, software upgrades and annual maintenance are required and as the developer of this proprietary software, Sympro, is the sole source provider.
The proposed agreement is imperative to maintain our relationship with Sympro so the City can receive application updates and maintain support. The City has a perpetual license to run the Sympro software.
Budget/Fiscal Impact: This expenditure is planned and budgeted in the approved FY2021 Information Technology Services Unit budget. There are no additional funds being requested.
Sympro complies with the requirements of the City's Non-discrimination and Living Wage ordinances.
Staff
Prepared by: Joshua Baron, IT Applications Delivery and BI Manager
Reviewed by: Tom Shewchuk, Director, Information Technologies Service Unit
Reviewed by: Matthew Horning, Interim CFO & Financial Services Area Administrator
Approved by: Tom Crawford, Interim City Administrator
Body
Whereas, Renewing annual maintenance and support with Sympro is necessary to receive application updates and maintain technical support;
Whereas, Sympro complies with the requirements of the City's Non-d...
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