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P.H. 2026-16: (PUBLIC HEARING 1ST READING)
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A FIRST AMENDMENT TO THE 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: $38,390.00 for two years)
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(Staff Contact: Allison Feurtado)
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Summary Explanation/Background:
The City of Pompano Beach requires a comprehensive tool to manage its debt portfolio and ensure compliance with Governmental Accounting Standards Board (GASB) Statements No. 87 and No. 96. The DebtBook software, provided by Fifth Asset, Inc., enables the City to accurately record lease and subscription-based information technology arrangements, monitor debt and payment schedules, and generates the reporting schedules required for the City’s Annual Comprehensive Financial Report (ACFR). The total cost of the two-year agreement shall not exceed Thirty-Eight Thousand Three Hundred Ninety Dollars ($38,390) Year 1 $18,900; Year 2 $19,490.
Origin of request for this action: Finance
Fiscal impact and source of funding: Total for 2-year contract $38,390 # 001-1310-513-52-25
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