Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 25-019, authorizing the County Executive to execute Amendment 4 to the Investment and Debt Management System Contract with Sympro, Inc
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DEPARTMENT: Information Technology
ORIGINATOR: Dee White
EXECUTIVE RECOMMENDATION: Approved by Ken Klein 12/30/24
PURPOSE: The purpose of this ECAF is to approve and execute Amendment 4 to the Investment and Debt Management System Contract with Sympro Inc., to extend the existing software maintenance agreement an additional five (5) year term through 7/31/2030.
BACKGROUND: The County issued RFP-10-08 to competitively acquire a new automated investment and debt management software system. Sympro, Inc. submitted the highest rated proposal. The investment software system is necessary to allow the Junior Taxing Districts entry into the Snohomish County Investment Pool and to provide accurate accounting and reporting of investments. The debt management system provides accountability for the bonded indebtedness for the County and districts pursuant to RCW 36.29.010(7). The County and Sympro, Inc. are the parties to that certain Investment and Debt Management System Master Contract (the "Original Agreement") executed on December 15, 2008. The County and Sympro, Inc. subsequently entered into Amendment 1 which defined the software maintenance pricing for years through July 31, 2020, Amendment 2 which extended the agreement and defined the software maintenance pricing through July 31, 2021, and Amendment 3 which extended the agreement and defined the software maintenance pricing through July 31, 2025. Pursuant to Sole Source Award #SS-24-0349JM the County desires to continue the software maintenance and support from Sympro, Inc. for an additional five (5) years, with pricing and term provisions as detailed in this Amendment 4.
FISCAL IMPLICATIONS:
EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU
CURRENT YR
2ND YR
1ST 6 YRS
505 5148914801 - Software Maintenance
$20,46...
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