STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: June 9, 2021
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Elizabeth Reich
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SUBJECT
Title
Authorize a three-year cooperative purchasing agreement for the purchase of licenses, installation, configuration, maintenance, and support of bank reconciliation software for the Department of Information and Technology Services provided by FiServ, Inc. and sold through SHI Government Solutions, Inc. through the Local Government Purchasing Cooperative (BuyBoard) agreement - Not to exceed $459,130 - Financing: IT Equipment Fund ($300,394) and Data Services Fund ($158,736) (subject to annual appropriations)
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BACKGROUND
This action does not encumber funds; the purpose of a cooperative purchasing agreement is to establish firm pricing for services, for a specific term, which are ordered on an as needed basis.
This cooperative purchasing agreement will allow for the purchase of licenses, installation, configuration, maintenance, and support of bank reconciliation software. This software is used to reconcile cash and credit card transactions between the City's general ledger accounts and the City's bank accounts. This automated software reduces the processing time of manually matching thousands of transactions daily by generating rules that automatically match transactions. The ability to import data from multiple external sources (i.e. merchant service vendors, banks, and other interfaces) and initiate automatic reconciliations allows the City Controller's Office staff to focus on exception processing (e.g. non-matches), bank errors or delayed deposits.
The Local Government Purchasing Cooperative (BuyBoard) agreement is authorized by Chapter 791 of the Texas Government Code and Subchapter F, Chapter 271, Texas Local Government Code. Section 271.102 of the Texas Local Government Code whic...
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