Discussion and possible action to authorize a one (1) year Software as a Service (SaaS) Financial Reporting service agreement with Gravity IGM Technology Corp. for an amount not to exceed $34,500.00 ($19,500 annual service fee plus $15,000 implementation fee) and any other matters incident thereto. [Account #1001-1260-001-443000-110 (Repairs & Maintenance-Software)]
 
Issue: With new financial reporting requirements as set by the Governmental Accounting Standard Board (GASB) for local governments, implementation of the proposed cloud-based software will assist the County Auditor with the annual financial reporting requirements. 
 
Solution: Consider the approval of the proposal as recommended by the County Auditor.  The Purchasing Agent advertised and secured three (3) proposals in response to public solicitation request.  Gravity IGM Technology Corp. is the best price, designed in compliance with GASB 34 and Government Finance Officers Association reporting requirements and is a cloud-based software that meets the expectations for annual financial reporting requirements by the County Auditor. 
 
Result: Approve the proposal submitted by Gravity IGM Technology Corp. for a one (1) year cloud-based software agreement as presented in order to prepare the County’s Annual Comprehensive Financial Report.

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