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			(10)(c)
CITY COMMISSION REGULAR MTG
Meeting Date: 01/22/2025   Gravity Technology - Budget and Reporting Software Submitted For: Cynthia Rushing Submitted By: Cynthia Rushing, Finance Department: Finance
Information
ACTION REQUEST
Consideration of and action on City of Texas City Resolution No. 2025-009: A Resolution Authorizing the purchase of a 5-year annual subscription and implementation for a Financial Disclosure Management and Budgeting & Planning provided by Gravity Technology Corp for $549,988 and a one-time implementation of $64,378.
BACKGROUND (Brief Summary)
The City does not have a standard budget submission tool that interfaces with the Budget document.  The current budget submission process involves several spreadsheets, memos, and emails, and it is challenging to manage version control to ensure that the most up-to-date budget is submitted. This Budget and Financial Reporting Software will allow us to standardize the process and easily transition from an incremental to a performance-based budget methodology.  The tool will step through the various approval phases with ease: Department, Mayor, and Commission. Gravity Technology creates and maintains an automated Budget Book that is fully integrated with the budget data.  The Budget Book can go from Proposed to Adopted at the press of a button.  Gravity is compatible with our Financial ERP Munis. The funding source for this purchase will come from the ARPA Grant Funds.
RECOMMENDATION
The CFO recommends purchasing the Financial Management Reporting and Budgeting & Planning software to automate our budgeting process.
Fiscal Impact
Funds Available Y/N: Y Amount Requested: 614366 Source of Funds: ARPA GRANT FUNDS Account #: Fiscal Impact:
Attachments Resolution Staff Report Presentation

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