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.
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.