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C. 57
To: Board of Supervisors
From: Russell Watts, Treasurer-Tax Collector
Date: April  20, 2021
The Seal of Contra Costa County, CA
Contra
Costa
County
Subject: APPROVE AND AUTHORIZE THE COUNTY TREASURER'S AGREEMENT WITH EMPHASYS COMPUTER SOLUTIONS, INC.

APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE

Action of Board On:   04/20/2021
APPROVED AS RECOMMENDED OTHER
Clerks Notes:

VOTE OF SUPERVISORS

AYE:
John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor
Contact: Ronda Boler, (925) 957-2806
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED:     April  20, 2021
Monica Nino, County Administrator
 
BY: , Deputy

 

RECOMMENDATION(S):

APPROVE and AUTHORIZE the County Treasurer-Tax Collector to execute a Software and Services Agreement with Emphasys Computer Solutions, Inc. in an amount not to exceed $500,000 for a hosted treasury management software system, for the period April 20, 2021 to April 19, 2028.  

FISCAL IMPACT:

License and service fees will be paid out of the investment revenues generated from the County Treasury Pool.  
  







BACKGROUND:

The County Treasurer currently licenses APS II, a software system offered by FIS, to record investment holdings and transactions of more than $4 billion Treasury Pool assets managed by the County Treasurer. FIS has made a business decision to stop supporting APS II on 12/31/21 and recommended that all its existing clients be transitioning to SymPro Treasury Management Software system (“SymPro”), a proprietary computer software developed by Emphasys Computer Solutions, Inc. (“Emphasys”). After conducting a comprehensive review of SymPro, the County Treasurer has concluded that SymPro provides more functions than APSII and can interface to the County’s new finance system. To make a fast and smooth transition, the County Treasurer, with assistance of the County Counsel, has negotiated an agreement with Emphasys.  
  
Pursuant to the agreement between the County and Emphasys, Emphasys will install, host, and license its SymPro system in accordance with County’s requirements, successfully complete the data conversions, develop and assist development and testing of interfaces, conduct testing, and perform training. Emphasys will provide five software modules, Fixed Income, Earnings Allocation, Market Pricing, Custodial Download, and General Ledger and Interface.  
  
The license and service fees will be paid by the interest earned on the monies deposited in the Treasury Pool, specifically, General County Revenue Fund.  
  
The agreement includes a limitation of liability that limits Contractor’s liability under the contract to the total fees paid to the Contractor in the 12-months preceding a claim, except for acts of gross negligence, willful misconduct, or in the event of claims relating to sickness, death, or injury to persons or property.  

CONSEQUENCE OF NEGATIVE ACTION:

The County Treasurer will not be able to license the SymPro Treasury Management Software system for recording holdings and investment transactions of the County Treasury Pool, as well as other treasury management functions provided by SymPro.  

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