Title
SS&C Technologies, Inc., New Contract for Web-Service Hosting and Continued Annual Maintenance for the Portia Investment System (Ordinance S-50408)
Description
Request to authorize the City Manager, or his designee, to enter into an agreement with SS&C Technologies, Inc., to continue to provide technology products and professional services in relation to web-service hosting and continued annual maintenance of the Portia Investment System. The expenditures will not exceed $400,000. Further request to authorize the City Controller to disburse all funds related to this item.
Report
Summary
The purpose of this agreement is to continue 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.
The prior agreement expired on June 13, 2023, and SS&C Technologies, Inc. (SS&C) has continued to provide access to the Portia Investment System and applicable services while the parties negotiated the instant agreement. The agreement will further allow the City to pay SS&C for the continued access and services during the unintended period out of contract.
This item has been reviewed and approved by the Information Technology Services Department.
The Agreement is required to provide the various City departments these services during the term, including options as applicable.
Contract Term
The term of the agreement will be a three-year term which will begin on or about Dec. 15, 2023.
Financial Impact
The value of the contract will not exceed $400,000. Funding is 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.