Title
Chief Administrative Office and Human Resources Department recommending the Board:
1) Approve and authorize the Chief Administrative Officer to sign the attached Actuarial Services and Technology Licensing Agreement with GovInvest Inc., in the total amount of $109,250, for a term effective upon execution and extending for five years, with annual fees of $19,750 and a one-time implementation fee of $10,500 to be paid up-front in order to take advantage of a price reduction;
2) Approve and authorize the Chief Administrative Officer to sign the attached Labor Costing Technology Licensing Agreement with AdastraGov Inc., in the total amount of $91,250, for a term effective upon execution and extending for five years, with annual fees of $15,750 and a one-time implementation fee of $12,500 to be paid up-front in order to take advantage of a price reduction; and
3) Approve and authorize the Chair to sign a budget transfer increasing Software Licenses appropriations in the Human Resources Department by $200,500 in order to cover the cost of the up-front payment, and decreasing the Appropriation for Contingency by $200,500 to balance, and directing that the Appropriation for Contingency be restored with final amendment changes based on year-end fund balance available. (Est. Time: 15 Min.)
FUNDING: General Fund, with partial cost recovery in future years through the A-87 Cost Plan.
Body
DISCUSSION / BACKGROUND
The Chief Administrative Office and Human Resources Department have evaluated two products currently available through GovInvest and AdastraGov (two separately organized companies under the same leadership), both of which offer the ability for staff to conduct detailed financial impact analyses and modeling of various scenarios. During the consideration of this item, representatives from GovInvest/AdastraGov will provide a brief overview of each product and outline the functionality of the two systems.
These are financial analysis tools that relate to em...
Click here for full text