Title
Professional Services Agreement with SS&C Technologies, Inc. (Ordinance S-49695)
Description
Request to authorize the City Manager, or his designee, to execute an amendment to Contract 147816 with SS&C Technologies, Inc., to extend contract term. Further request to authorize the City Controller to disburse all funds related to this item. The additional expenditures will not exceed $120,000.
Report
Summary
The vendor provides web-service hosting and continued annual maintenance of the Portia Investment System. The Finance Department uses the Portia Investment System as an essential control for safeguarding, managing, and reporting of the City's $4.8 billion investment portfolios.
This item has been reviewed and approved by the Information Technology Services Department.
Contract Term
Upon approval the contract will be extended through May 31, 2024.
Financial Impact
Upon approval of $120,000 in additional funds, the revised aggregate value of the contract will not exceed $529,000. Funds are available in the Finance Department's operating budget.
Concurrence/Previous Council Action
The City Council previously approved this request:
Professional Services Agreement with SS&C Technologies, Inc. (Ordinance S-44604) on May 16, 2018.
Department
Responsible Department
This item is submitted by City Manager Jeffrey Barton and the Finance Department.