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P.H. 2023-07: (PUBLIC HEARING 2ND READING)
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A PIGGYBACK AGREEMENT FOR A DEBTBOOK CLOUD BASED SOFTWARE SUBSCRIPTION BETWEEN THE CITY OF POMPANO BEACH AND FIFTH ASSET, INC.; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $43,250 a cost saving of $6,400)
FIRST READING: OCTOBER 25, 2022
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(Staff Contact: Allison Feurtado)
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Summary Explanation/Background:
The software subscription (DebtBook) is with Fifth Asset, Inc. and the City of Pompano Beach. The software is used to monitor the City’s debt portfolio by allowing us to track our payment due dates and provide the required reporting schedules for our Annual Comprehensive Financial Reporting Statement. The agreement is for three years, with a total cost not to exceed Forty-three Thousand, Two Hundred and Fifty Dollars ($43,250). A multi-year contract yields a cost saving to the City in the amount of Six Thousand Four Hundred Dollars ($6,400).
Origin of request for this action: Finance Department
Fiscal impact and source of funding: $43,250 (001-1310-513-52-25)
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