HomeMy WebLinkAbout2022-09-19 I01E_01 DebtBook Agreement RenewalAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: September 19, 2022
AGENDA ITEM:Consideration of approval of a resolution approving renewal of
Agreement for Fifth Asset, Inc d/b/a DebtBook
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: September 2021, the Council approved an agreement
to effectively implement the FY2022 Governmental Accounting
Standards Board - GASB 87 – Leases. Staff successfully implemented
the Debt, and Lease components of DebtBook during FY22. Staff is
recommending entering into a two year agreement with Fifth Asset, Inc,
d/b/a DebtBook to continue software services, and to assist with
implementation of GASB 96 – Reporting for Subscription Based
Information Technology Arrangements prior to June 30, 2023.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Annual fee of $15,000 per
year for a total cost of $30,000.
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: City staff recommend approval of the agreement.
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
II. Quote / Renewal Order Form for DebtBook
PREPARED BY:Linda Burkhart
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
I1E1
THE CITY OF WAUKEE, IOWA
RESOLUTION 2022-
APPROVING RENEWAL FOR FIFTH ASSET, INC. d/b/a DEBTBOOK
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Iowa is a duly organized municipality within Dallas
County; AND,
WHEREAS, the Governmental Accounting Standards Board issues Statements to
improve accounting and financial reporting for governmental entities; AND,
WHEREAS, GASB Statement 87 Leases was implemented during FY2022 utilizing a
subscription service with Fifth Asset, Inc. d/b/a DebtBook; AND,
WHEREAS, GASB Statement 96 Reporting for Subscription Based Information
Technology Arrangements is required to be implemented during FY2023; AND,
WHEREAS, staff is recommending entering a two year agreement for continuation of
services with Fifth Asset, Inc. d/b/a DebtBook;
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in
session this 19th day of September, 2022, that it hereby approves a multi year
Agreement for DebtBook with Fifth Asset, Inc. with an annual cost of $15,000.00 and a
total cost of $30,000.00.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman Pierce
R. Charles Bottenberg
Chris Crone
Larry R. Lyon
Ben Sinclair