Item Coversheet

ROWAN COUNTY
A COUNTY COMMITTED TO EXCELLENCE

130 West Innes Street - Salisbury, NC 28144
TELEPHONE: 704-216-8180 * FAX: 704-216-8195

 

MEMO TO COMMISSIONERS:

FROM:
Jody Farrow-Bennett; Purchasing Director & Anna Bumgarner; Finance Director
DATE:
1/3/2023
SUBJECT:
Amendment No. 1 - Fifth Asset (DebtBook)

Rowan County received proposals for GASB 87 Software on December 2, 2021.  A committee of finance, purchasing, IT and internal auditor staff scored the proposals and Fifth Asset dba Debt Book was selected to provided needed software for tracking leases related to GASB 87 rules.  The initial cost was $22,750. This software is now needed to help with GASB 96 SBITA related to technology agreements.  Finance would like to continue use of the software and has gotten the below pricing.

 

FY23 Year 1 $24,000

FY24 Year 2 $25,000

FY25 Year 3 $30,000

 

The FY23 pricing includes implementation of the new GASB 96 SBITA items into the software.

 

Attached quote from Debt Book for year 1 and 2 for $49,000 total. Year 3 will not be discounted and therefore will be $30,000.



Recommendation: Board of Commissioners authorize County Manager to approve amendment to contract with Fifth Asset dba Debt Book for additional services over 3 years not to exceed $79,000.



ATTACHMENTS:
DescriptionUpload DateType
Quote12/7/2022Cover Memo
Amendment #112/7/2022Cover Memo