Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 22-318, approving and authorizing execution of the professional services agreement with Lance, Soll & Lunghard, LLP for Governmental Accounting Standards Board Statement No. 87 “Leases” (“GASB 87”) Accounting Software
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DEPARTMENT: Information Technology
ORIGINATOR: Dee White
EXECUTIVE RECOMMENDATION: Ken Klein (approved 8/1/22)
PURPOSE: The purpose of this ECAF is to approve and execute a Professional Services Agreement to provide Governmental Accounting Standards Board Statement No. 87, “Leases” (“GASB 87”) Accounting Software
BACKGROUND: The County’s Finance Department requires updated software in order to produce the Governmental Accounting Standards Board Statement No. 87 “Leases” (GASB 87) report that is compliant with governmental standards. The County published RFP-026-21SB to solicit proposals for new GASB 87 accounting software. Lance, Soll & Lunghard, LLP (LSL) was selected by the Snohomish County evaluation committee as submitting the highest-ranking proposal to provide their LeaseQuery software in a partial award. The cost for the services, including initial implementation of the system, is expected to be One Hundred Seventy-One Thousand Eight Hundred Twenty-Five Dollars ($171,825) plus applicable sales tax over the initial five-year contract term. The Agreement allows for up to two additional two-year extensions.
FISCAL IMPLICATIONS:
|
EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
2022 |
2023 |
2022-2026 |
|
315-51144576401 IT Capital Maintenance |
$85,200 |
|
$85,200 |
|
505-5148914801 IT Operations Maintenance |
|
$19,224 |
$86,625 |
|
Plus applicable sales tax |
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TOTAL |
$85,200 |
$19,224 |
$171,825 |
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REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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TOTAL |
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DEPARTMENT FISCAL IMPACT NOTES: Funding required for project costs is authorized in the 2022 adopted IT Capital fund 315 budget as a part of the ERP/Cayenta project. Anticipated costs for ongoing maintenance will be included in the IT rates for 2023 forward.
CONTRACT INFORMATION:
|
ORIGINAL |
X |
CONTRACT# |
RFP-026-21SB |
AMOUNT |
$171,825 plus applicable sales tax |
|
AMENDMENT |
|
CONTRACT# |
|
AMOUNT |
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Contract Period
|
ORIGINAL |
START |
Upon contract execution |
END |
5 years after contract execution |
|
AMENDMENT |
START |
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END |
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OTHER DEPARTMENTAL REVIEW/COMMENTS: Risk Management (Diane Baer 7/27/22), Finance (Nathan Kennedy 7/29/22) and approved as to form only by DPA (Rebecca Wendling 7/12/22)