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LEGISLATIVE RESEARCH CENTER
File #: 25-0219    Version: 2
Type: Contract Status: Passed
File created: 4/30/2025 In control: Finance
On agenda: 5/19/2025 Final action: 5/19/2025
Title: Vote to approve a contract with Fifth Asset, Inc. dba DebtBook for Debt and Lease & SBITA Accounting Software for $43,500
Attachments: 1. Fifth Asset dba DebtBook Contract

Title

Vote to approve a contract with Fifth Asset, Inc. dba DebtBook for Debt and Lease & SBITA Accounting Software for $43,500

 

Abstract

Introduction & Background: The County utilizes Debtbook’s Debt and Lease & SBITA modules for creation of portions of the County’s Annual Comprehensive Financial Report.

                     

Discussion & Analysis: The County has utilized Debtbook’s stated modules for creation of required year end journal entries and portions of the Notes in the County’s Annual Comprehensive Financial Report.  This contract will allow the county to continue utilizing those tools for the next 3 fiscal years.

 

How does this relate to the Comprehensive Plan: Additional Commissioner goals - demonstrate sound fiscal stewardship to ensure we can meet the important service needs of our residents.

 

Budgetary Impact: The contract has no budgetary impact on the FY 2025 operating budget. The 3-year contract has budgetary impacts on FY 2026-2028 as detailed below:

 

FY 2026 - $14,000

FY 2027 - $14,500

FY 2028 - $15,000

                     

Recommendation/Motion: Motion to approve a contract with Fifth Asset, Inc. dba DebtBook for debt and lease and SBITA accounting software for $43,500.