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01-299 Resolution No. 01-299 RESOLUTION AUTHORIZING EXECUTION OF A SOFTWARE LICENSE AGREEMENT WITH . SYMPRO, INC. FOR INVESTMENT MANAGEMENT AND REPORTING SOFTWARE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that Joyce A. Parker, City Manager, be and is hereby authorized and directed to execute a Software License Agreement on behalf of the City of Elgin with SymPro, Inc . for investment management and reporting software, a copy of which is attached hereto and made a part hereof by reference . s/ Ed Schock Ed Schock, Mayor Presented: November 14, 2001 Adopted: November 14, 2001 Omnibus Vote : Yeas : 7 Nays : 0 Attest : s/ Dolonna Mecum Dolonna Mecum, City Clerk 2200 Powell Street, Suite 1 170 �Mlt Emeryville, California 94608-1809 SymPro TEL 510 655-0900 J FAX 510 655-4064 SYMPRO SOFTWARE LICENSE AGREEMENT This SymPro Software License Agreement ("Agreement") is entered into effective the 2) day of N 0V, , 2001 ("Effective Date") by and between SymPro, Inc., a California corporation ("SymPro'), and City of Elgin, an Illinois city ("Licensee"). RECITALS A. SymPro has designed and developed a Software program known as the SymPro Treasury/ Management Software. B. Licensee desires to obtain a personal, nontransferable, non-exclusive limited right and license to use such Software and related documentation for Licensee's own internal business purposes only and SymPro is willing to grant such a license on the terms and subject to the conditions of this Agreement. THEREFORE, in consideration for the license fees to be paid by Licensee hereunder and the mutual promises and covenants contained in this Agreement, the parties agree as follows: 1. Certain Definitions. As used in this Agreement, the following terms shall have the following definitions: A. "Authorized Users" shall mean Licensee and its employees and no other persons or entities. B. "Software" shall mean that certain SymPro proprietary computer Software program known as SymPro Treasury Management Software, in machine readable, object code form, as listed on Exhibit "B", including any upgrades, new releases, or revisions of the Software released by SymPro to Licensee, or additional modules licensed after the effective date of this agreement and added to the list in Exhibit "B". C. "Documentation" shall mean all user/operation manuals and other materials or information describing the Software, as hereinafter defined, its performance characteristics, technical features and other relevant information reasonably required for use of the Software, including all physical media upon which the materials or information are provided. D. "Licensed Products" shall mean the Software and the Documentation. E. "Original Copy" shall mean each actual original copy of the Licensed Products provided to Licensee pursuant to this Agreement. F. "Designated Site" shall mean that certain location at which the Designated Equipment shall be physically located during the term of this Agreement, as identified on Exhibit "A" to this Agreement and such other location as may be expressly approved in writing by SymPro, which approval shall not be unreasonably withheld. G. "Designated Equipment" shall mean a single Intel based computer for the single user version, or a network file server for site license version or multi-user version on which Licensee uses the Software pursuant to this Agreement, as identified on Exhibit "A" to this Agreement. 2. Software License. Subject to the terms of this Agreement, including, without limitation, termination, SymPro hereby grants to Licensee, and Licensee accepts, a limited, personal, non-transferable and non-exclusive license to use one (1) Original Copy of the Licensed Products solely for Licensee's own internal business purposes and solely on the Designated Equipment located at the Designated Site provided, however, that for each Original Copy, such license shall be limited to the use of the Licensed Products by no more than the number of Authorized Users specified in Exhibit "B", if the Software is installed on a file server or host computer. Licensee shall be permitted to make one (1) copy of the Software for backup and archival purposes only. Neither this Agreement, nor any other document signed by the parties, embodies or may be interpreted as a sale of all, or any interest in, any of the Licensed Products by SymPro. Without limiting the foregoing, Licensee shall have no right to make, improve, further develop or market any of the Licensed Products. 3. Fees. A. License Fees. The License Fees for the license granted hereunder (the "License Fees") shall be in the amount indicated in Exhibit "A" to this Agreement. The License Fees shall be payable upon successful onsite implementation of software and shall be non-refundable, except as set forth in Sections 7. D. and 10. B. Annual Maintenance & Support Fees. Annual Fees for Maintenance & Support services are payable on an annual basis prior to the commencement of such support services, as set forth in Exhibit "A" for the first year and according to the published Maintenance and Support Fee Schedule in subsequent years. Support services are subject to Exhibit "C". setting forth the support policies. Should Licensee discontinue renewal of support services, Licensee shall have the right to use Licensed Products received in perpetuity, within the limits of this License Agreement. C. Services Fees. The Service Fees for the services performed hereunder (the "Service Fees") shall be in the amount indicated in Exhibit "A" to this Agreement. The Service Fees shall be payable upon successful onsite implementation of software and shall be non-refundable. D. Payments. All payments (i) shall be made by bank check or Licensee's check or wire transfer of immediately available funds and (ii) shall be due and payable to SymPro (or SymPro's assignee) in U.S. Dollars, at SymPro's address, or such other places as SymPro may from time to time designate in writing. All payments shall be made without offset or deduction of any nature whatsoever. 4. SymPro Ownership of Licensed Products. Licensee expressly warrants and agrees that: A. SymPro Proprietary Rights. The Licensed Products, together with all related documentation, logos, product names and other support materials (if any) regardless of format, appearance or manner of storage, are the subject of copyrights (published or unpublished) or trademarks, or are otherwise confidential and/or proprietary to SymPro (SymPro, Inc.), and shall, at all times, remain the property of SymPro. Licensee agrees never to alter the Documentation or remove any notices or product identification placed on the Software by or otherwise identifying SymPro. Licensee agrees not to undertake any direct or indirect act to challenge or otherwise contest any common law or statutory copyright, trademark right or other intellectual or proprietary right held or alleged to be held by SymPro to all or any part of the Licensed Products. Some Software modules may contain or utilize third party software and/or documentation, which has been licensed for use by SymPro for distribution as part of SymPro's Software. In such case all property rights, trademark rights, statutory copyrights, and other protections set forth in this section 4A, shall be extended to the third party owning the licensed Software. B. No Ownership Rights. Other than the limited right of use of the Licensed Products described in this Agreement, Licensee neither shall have nor shall it acquire any right, title or interest in or to any of the Licensed Products or in any intellectual or proprietary rights represented thereby. C. Derivative Works. Any altered, translated or modified version of any of the Licensed Products and all related materials shall be deemed derivative works and all property and other rights with respect thereto shall rest solely in SymPro and shall remain subject to the terms of this Agreement, notwithstanding its expiration or earlier termination. Licensee shall, upon demand, execute such documents as are necessary to give effect to and confirm the foregoing. 5. Permitted Uses and Restrictions. A. Permitted Uses. The Licensed Products shall be used solely on the Designated Equipment at the Designated Site for Licensee's own internal business purposes provided, however, that for each Original Copy, such use of the Licensed Products shall be limited to the number of Authorized Users established by the System Manager license and listed in Exhibit "B". B. Restrictions. Licensee expressly warrants that Licensee shall not, directly or indirectly, do or attempt to do, or permit any person to do or attempt to do, any of the following: (1) Use the Licensed Products on equipment other than the Designated Equipment, at a location other than the Designated Site or for any purpose other than that expressly permitted in Section 5.A hereof; (2) Utilize the Licensed Products for the direct or indirect benefit of anyone other than Licensee. For the purposes of this Agreement, such prohibited use would include the use of the Licensed Products for the operation of a service bureau business or otherwise for the purpose of processing data for or on behalf of any person or entity (including subsidiaries or related entities) intending to use such data for commercial purposes, or processing data not generated internally by Licensee for the purpose of selling same, whether or not such processing is performed by Licensee for compensation; (3) Permit any person or entity other than an Authorized User to have access to or use the Software; (4) Rent, lease, sell, assign, encumber, distribute, or otherwise transfer or distribute all or any part of the Licensed Products (including compilations), or any part thereof or interest therein; (5) Make or distribute any copies, or otherwise disclose all or any part or compilation, of the Software or the Documentation to anyone not an Authorized User, except as otherwise required by applicable law or court order. (6) Modify all or any part of the Software, or use all or any part thereof, to produce applications for Licensee's own use or for use by others; or (7) Reverse assemble, decompile, reverse translate, reverse engineer or in any other manner decode the Software for any purpose, including, without limitation, to derive any source code therefrom. C. No Transfer to Third Parties. Without limiting the generality of the foregoing restrictions, Licensee represents and warrants that none of the Licensed Products shall, directly or indirectly, in whole or part, be given, sold or leased to, used or operated by or in any manner be made available to the public or to any person, business, entity (including any parent, subsidiary or affiliated unit of Licensee), governmental unit or government of any country, except as otherwise required by applicable law or court order. D. Notice. Licensee shall immediately notify SymPro in writing of any actual or suspected breach of this Agreement, including, without limitation, its terms limiting use. E. Inspection by SymPro. SymPro may at reasonable times inspect the Designated Equipment and the Software to verify Licensee's compliance with this Agreement, provided that any such inspection shall not unreasonably interfere with the business operations of Licensee. 6. Delivery of Licensed Products. SymPro shall deliver the Original Copy of the Licensed Products within ten (10) business days following receipt by SymPro of the fully executed License Agreement and an authorized purchase order. SymPro shall not be responsible for installing the Software on the Designated Equipment unless SymPro is specifically contracted to perform installation and training services. 7. Warranties. A. Warranty of Ownership. SymPro warrants to Licensee (and no other person or entity) that it is the author and owner or proper Licensee of the Licensed Products and has the right to enter into this Agreement. B. Licensed Products Warranty. For a period of One Hundred Eighty (180) calendar days from the date of receipt by Licensee of the Original Copy of the Licensed Products (not including delivery of any subsequent modifications, updates or new releases thereto), SymPro warrants to Licensee (and to no other person or entity) that the Licensed Products will conform to SymPro's specifications pertaining thereto as set forth in the user documentation for the Software listed in Exhibit "B" to this Agreement provided that said warranty shall apply only as to the most current version of the Licensed Products as used on the Designated Equipment and to defects that can with reasonable effort be recreated by SymPro using a supported operating environment. THE FOREGOING WARRANTIES ARE IN LIEU OF ALL OTHER WARRANTIES EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. C. Warranter Claims. Any claim for violation of the warranties set forth in Section 7B must be made to SymPro in writing on or before the expiration of the 180-day warranty period, specifying in reasonable detail the defect asserted and any computer listings or examples that demonstrate the defect. D. Remedy. Licensee acknowledges that the Licensed Products are of a complex nature and that they may have inherent bugs or defects. Licensee agrees that as the sole liability and as Licensee' sole remedy as to any warranty claims under Section 7.13, SymPro shall, upon receipt of such written notice, and at its sole option, (i) provide the services necessary to correct documented failures to conform to SymPro specifications which diagnosis indicates are caused by a defect in an unaltered current version of the Licensed Products, (ii) replace same with Licensed Products of functional equivalence or (iii) reimburse Licensee for the License Fees paid by Licensee hereunder. E. Further Limitations. The limited warranties provided in this Section 7, as limited by other provisions of this Agreement, are non-transferable and shall immediately become void in the event of any unauthorized use, modification or repair of the Licensed Products or any part thereof or upon breach by Licensee of any provision of this Agreement. Except as otherwise may be provided in any technical support and maintenance agreement between the parties, Licensee shall pay, at SymPro's then current rates, for services performed by SymPro to correct problems or defects not covered by warranty, including, without limitation, those traceable to Licensee's errors. 8. LIMITATION OF LIABILITY. EXCEPT AS TO INFRINGEMENT OF COPYRIGHT OR PATENT OR OTHER INTELLECTUAL PROPERTY RIGHTS AND THEN ONLY AS PROVIDED FOR AND LIMITED BY SECTION 10, LICENSEE ACKNOWLEDGES THAT POTENTIAL DAMAGES IN ANY PROCEEDING WOULD BE DIFFICULT TO MEASURE WITH CERTAINTY AND THE PARTIES EXPRESSLY AGREE THAT AS A FAIR ASSESSMENT OF POTENTIAL DAMAGES, SYMPRO'S LIABILITY UNDER THIS AGREEMENT, REGARDLESS OF FORM OF ACTION, PROCEEDING OR THEORY OF RECOVERY, SHALL NOT EXCEED THE LICENSE FEES ACTUALLY PAID TO SYMPRO AS PROVIDED IN SECTION 3 HEREOF. REGARDLESS OF THE FORM OF ACTION, PROCEEDING, OR THEORY OF RECOVERY, NEITHER SYMPRO NOR ITS AGENTS, NOR ITS THIRD PARTY LICENSORS SHALL IN ANY MANNER BE LIABLE FOR ANY LOST PROFITS, LOST SAVINGS OR OTHER SPECIAL, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION, ANY SUCH DAMAGES ASSESSED AGAINST OR PAID BY LICENSEE TO ANY THIRD PARTY, ARISING OUT OF THE USE, INABILITY TO USE, QUALITY OR PERFORMANCE OF THE LICENSED PRODUCTS, EVEN IF SYMPRO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SYMPRO, ITS AGENTS AND ITS THIRD PARTY LICENSORS, SHALL IN NO MANNER BE LIABLE FOR ANY DAMAGES OR LIABILITY INCURRED TO OR BY ANY THIRD PARTY, EXCEPT AS TO INFRINGEMENT OF VALID REGISTERED UNITED STATES COPYRIGHTS OR PATENTS, AND THEN ONLY AS PROVIDED FOR AND LIMITED BY SECTION 10. 9. Termination. This Agreement shall continue until terminated as provided in this Section 9. A. Termination by Licensee. Licensee may terminate this Agreement on thirty (30) days written notice to SymPro. In the event of such termination, Licensee shall immediately cease use of the Licensed Products and shall comply with the obligations upon termination set forth in Section 9 C. B. Termination by SymPro. SymPro may terminate this Agreement, and all rights of Licensee hereunder, (i) effective upon written notice thereof to Licensee, in the event that Licensee fails to make full and valid payment of the Initial License Fee when such payment is due and payable or (ii) effective upon thirty (30) days prior written notice thereof to Licensee if Licensee fails in any manner to comply with any other covenant, representation or warranty of Licensee set forth herein or in any other agreement entered into between SymPro and Licensee and such failure has not been remedied by the end of such 30-day period. C. Obligations on Termination. (1) Destruction or Return of Licensed Products. Upon termination of this Agreement pursuant to the provisions of this Section 9, Licensee expressly acknowledges and agrees that within thirty (30) calendar days following such termination, Licensee shall certify and warrant to SymPro, that: (i) it has destroyed or returned to SymPro all and every part of the Software and the Documentation and all copies thereof, including, without limitation, any copies installed on any hard-drive or other fixed, electronic, optical, magnetic or other media and any authorized or unauthorized modifications of the Software, or as contained in any other form or media and (ii) that it has complied with all other terms and provisions of this Agreement. (2) Payment. Upon termination of this Agreement, Licensee shall immediately pay to SymPro all amounts which have accrued or which are owing to SymPro as of the date of such termination. 10. Infringement Indemnity by Licensor. SymPro hereby agrees to indemnify, defend and hold harmless Licensee from all claims, losses and liabilities resulting from any claim that the Licensed Products infringe a copyright or patent or other intellectual property rights, provided that: (a) Licensee notifies SymPro in writing within 30 days of the claim, if the claim is received by Licensee; (b) SymPro has sole control of the defense and all related settlement negotiations; and (c) Licensee provides SymPro with the assistance, information and authority necessary to perform SymPro's obligations under this Section 10. SymPro shall have no liability for any claim of infringement arising from any unauthorized use, alteration or modification of the Software; or use of a superseded or altered release of the Software if the infringement would have been avoided by the use of a current unaltered release of the Licensed Products which SymPro has provided to Licensee. If the Licensed Products are held or are believed by SymPro to infringe, SymPro shall have the option, at its expense, to (a) modify the Licensed Produces to be non- infringing; or (b) obtain for Licensee a license to continue using the Licensed Products. If it is not commercially reasonable to perform either of the above options, then SymPro may terminate the license for the infringing Licensed Products and refund any unused support and maintenance fees paid and prorated license fees paid for those Licensed Products, which such license fees shall be prorated by 25% for each year Licensee has had use of the Licensed Products without interference by such infringement claim. 11. Miscellaneous. A. Specific Performance: Injunctive Relief. Licensee's breach of any obligation under this Agreement regarding the use, duplication, modification, transfer or confidentiality of the Licensed Products shall entitle SymPro to injunctive, specific performance or other equitable relief, all without need of bond or undertaking of any nature, Licensee specifically acknowledging that SymPro's remedies at law under such circumstances would be inadequate. B. Applicable Law, Forum. Notwithstanding anything in this Agreement to the contrary, the laws of the State of Illinois shall govern the validity and construction of this Agreement and the interpretation of the parties' rights and duties without reference to conflicts of laws. Each party hereto hereby submits to the exclusive jurisdiction of any state or federal court located in Kane County, Illinois. C. Further Acts. Each party agrees in good faith to perform all acts and execute and deliver all documents reasonably necessary to carry out the provisions of this Agreement. Time is of the essence of all obligations of Licensee. D. Assignment. Neither this Agreement nor any rights or obligations hereunder may be assigned by Licensee without the prior express written consent of SymPro (which consent may be withheld in SymPro's sole and absolute discretion). SymPro may freely assign its rights and/or obligations under this Agreement. E. Taxes. The License Fees exclude federal, state and local sales, use, excise, transportation, occupational or similar taxes or assessments and all such taxes and assessments shall be the sole obligation of Licensee. F. Complete Agreement, Non-Waiver. This Agreement represents the complete agreement between the parties hereto as to the subject matter hereof and the parties' rights and obligations with respect thereto, and no representations, warranties or agreements not contained in this Agreement shall have any effect whatsoever upon the parties or upon the instant transaction. This Agreement may be amended only in writing, signed by Licensee and by an authorized representative of SymPro. No waiver by either party of any right, obligation or default of performance by the other shall be construed as a waiver of any subsequent such occurrence. G. Notice. Any and all notices between the Licensee and SymPro provided for under this Agreement or by law shall be made in writing and shall be deemed duly served when personally delivered to one of the parties, or in lieu of such personal services, when deposited in the United States Mail, postage prepaid addressed to such party. The persons and their addresses having the authority to give and receive notices under this Agreement include the following: Licensee Licensor City of Elgin SymPro James R. Nowicki James R. Connor Fiscal Services Manager President 150 Dexter Ct. 2200 Powell Street, 11th Floor Elgin, IL 60120 Emeryville, California 94608 H. Severability. If any one or more of the provisions (or parts thereof) of this Agreement is determined to be illegal or unenforceable, no other provisions shall be affected thereby. I. Surviving Clauses. The provisions of Sections 4, 5, 7, 8, 9, 10, 11 and all representations and warranties of Licensee shall survive the expiration or termination of this Agreement. J. Exhibits. Exhibits "A" (Description of Designated Equipment/Designated Site and License Fees), "B" (Listing of Software Modules), and "C" (Annual Support and Maintenance Plan), are included in this Agreement by reference. K. Authorization To Sign. Each person signing below represents, warrants and covenants that he has executed this Agreement with actual authority to bind the party on whose behalf he has so signed. L. Counterparts-, Facsimile Signatures. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which shall be deemed one and the same instrument. Facsimile signatures hereto shall be valid for all purposes. IN WITNESS WHEREOF, the parties have executed this SymPro Software License Agreement as of the Effective Date. "SymPro„ "Licensee" SymPro, In City of Elgin, a California c porationj an Illi ois city By: y• Na ames R. onnor Nam o y c� A Ti President Title: C, i rV/ 001 AA) a c e Address: Address: 2200 Powell Street, Suite 1170 150 Dexter Ct. Emeryville, California 94608 Elgin, IL 60120 fax: 510-655-4064 fax: 847-931-5622 EXHIBIT "A" 1. Designated Equipment: Workstations: Intel Pentium based personal computer; 32 bit operating system; minimum speed 166mz; Windows 95, 98, 2000, or Windows NT operating system; minimum 64 MB RAM. Networking: Novell, Microsoft NT or Windows 2000 Server. Hard drive storage: Minimum 30 MB for software, 1-50 MB for portfolio data, depending on size and type of portfolio(s). Licensee's Installation: Installation is on a network server. For current Windows operating systems not named in this section, contact SymPro for compatibility information. 2. Designated Site: City of Elgin 150 Dexter Ct. Elgin, IL 60120 3. Fees: a. License Fees: Fixed Income/Extended Investments Module $15,000 Market Pricing Interface $4,000 General Ledger $5,000 GL Header Interface to HTE $3,000 Network License no charge Total $27,000 b. Annual Support & Maintenance Fees: Total: First Year Support Included at no additional fee 2"d Year Support & Maintenance Fee: $4,800 C. Onsite Implementation and Training Four days on-site training @ $2,000 per day $8,000 Includes 2 days Fixed Income/Extended Training 2 Days GL Training and HTE Interface Implementation Expenses included for up to two trips. EXHIBIT "B" Software Modules licensed for City of Elgin Fixed Income/Extended Investments Module Market Pricing Interface (Market Pricing interfaces to FT Interactive Data, a third party pricing service, which requires Licensee execute an independent service agreement and pay a minimum monthly service fee for any month in which Licensee prices) General Ledger General Ledger Interface to HTE Single User Site System Manager-Network Installation for up to 3 non-concurrent single access Authorized Users EXHIBIT "C" Annual Support and Maintenance Plan Our Support and Maintenance Plan is available on an annual basis for the installed modules listed in Exhibit "B". Services provided include: • Priority service from technical support representatives Access to all SymPro versions released within the year • Shipment of Software and documentation upgrades Access to the SymPro Internet Site for Support (www.sympro.com) Annual SymPro Users Training Conference attendance. Tele-consultation SymPro provides unlimited telephone support in the following areas: Loading and configuring of SymPro Software Operational Questions, including standard SymPro reports Data entry support for all investment types supported within SymPro, including: • Certificates of Deposits • Negotiable Certificates of Deposits Checking Accounts Commercial Paper • Medium Term Notes Commercial Paper Discount • United States Treasury Issues, Coupon & Discount • Federal Agency Issues, Coupon & Discount GNMA, Pass Through • Bankers Acceptances • Corporate Bonds • Rolling Repurchase Agreements Tele-consultation is provided during normal business hours (6:30AM TO 5:OOPM - Pacific Time) Monday through Friday for questions dealing with the operations of the Licensed Software as listed in Exhibit B on supported hardware as listed in Exhibit A. Support issues may be reported via voicemail (510-655-0900 Selection 2), fax (510-655-4064), or email (support@sympro.com) 24 hours a day. Answers to "Frequently Asked Questions" are available at www.sympro.com, 24 hours a day. The resolution of some issues may require that Licensee provide SymPro with a copy of Licensee's data. Licensee agrees to provide SymPro with a copy of their data for the purpose of resolving Licensee's issue and SymPro agrees to maintain full confidentiality of any required data and will use it only for the resolution of the Licensee's issue. Not Included Consulting on issues concerning investment accounting matters, specific financial or investment matters, research on investments not supported within the Licensed Software, or data entry for investments not supported in the Licensed Software system are not included. Agenda Item No. City of Elgin g ILI oil }Ili K October 19, 2001 ' Aitr1 TO: Mayor and Members of the City Council FINANCIALLY STABLE CRY ppyERNMENT EFFICIENT SERVICES, FROM: Joyce A. Parker, City Manager AND DUALITY INFRASTRUCTURE SUBJECT: Investment Management and Reporting Software PURPOSE The purpose of this memorandum is to provide the Mayor and members of the City Council with information to consider the purchase of an investment management and reporting software package from Sympro, Inc. , a sole source provider. BACKGROUND Over the past two years, members of the Fiscal Services staff have been investigating various investment management software packages . Currently, an in-house developed software program, nearly 30 years old, is being used. It has become, over time, a rather cumbersome system to use (i .e. : heavy data entry required, paper intensive, etc. ) and provides minimal reporting capabilities . In fact, current investment types, such as stripped U. S . Treasury note coupons, cannot be accommodated on this system. The general ledger software the City uses, HTE, does not offer a complete investment tracking and reporting software package. The majority of the investment packages on the market are not "stand alone" products, but rather, are sold as part of a general ledger package . Of the "stand alone" investment products reviewed (Tracs, Evare, etc . ) only one provider, Sympro, offered a unique package to the industry. Sympro offers a "stand alone" investment management and reporting package, and yet, has the required capability of interfacing with the HTE general ledger software. Sympro offers excellent reporting capabilities with both standard parameters and customized options available. For example : • Investment reporting can be done by individual fund, multiple funds, or all funds combined. • Individual reports can be assigned to a Report Set to efficiently process all reports with one request . Investment Management and Reporting Software October 19, 2001 Page 2 • Provides standard Government Accounting Standards Board compliance reports for risk classifications and reflecting the investment portfolio at current market value . • The system can track and report the history of rate and market price changes for an individual investment . A demo package was installed at the City and after using the program, it was determined that Sympro, Inc . , met the Fiscal Services Department' s requirements for investment management and reporting. A site visit by the Fiscal Services staff members was made to the City of Milwaukee' s Treasurer' s office for a hands-on demonstration by their investment officers . They have required very little maintenance or support for the two years they have been using the software and indicated they are completely satisfied with Sympro. Attached is a list of government sector users of the Sympro, Inc. , software. COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED None . FINANCIAL IMPACT The cost of this investment software package is $35, 000 . This includes the extended investment-fixed income module, the general ledger interface, market pricing module, and four days of staff training. The first year of maintenance is free . Beginning in 2003 , the annual maintenance fee will be approximately $4 , 800 . This purchase can be charged to the Fiscal Services Accounting Division computer software account number 010-2003-718 . 15-07, where sufficient funds are available. EGAL IMPACT None. ALTERNATIVES Stay with the current investment management and reporting system. Investment Management and Reporting Software October 19, 2001 Page 3 RECOMMENDATION It is recommended that the City Council authorize the purchase of the investment management and reporting software package from Sympro, Inc . , a sole source provider, for a total of $35, 000 . Re. ectfully submitted, J cerker City Manager JN/ai 2200 Powell Street,Suite 1170 Emeryville,California 94608 _' z SymPro TEL(510)655-0900 FAX(510)655-4064 Sole Source www.sympro.com SymPro Software The following combinations of features and capabilities have been found to be unique to SymPro's Portfolio Management Software. The system can interface directly with HTE's General Ledger Package. Posting can be done by Investment Number, Fund/Manager, Transaction Date or Transaction Type. (Purchase, Maturity/Sale or Interest.)Posting is available at either a detail or a summary level. A true GASB 31 compliance report is a standard reporting choice. Encompassed in this report, for a user specified date range,are the change in market value, interest earned, reported value on a time weighted basis and total return.Each investment can be classified as either amortized cost or fair value based on its original term to maturity. Investment reporting can be done by individual fund, multiple funds or all funds combined. Individual reports can be assigned to a Report Set to efficiently process all reports with one request. The system can track and report the history of rate and market price changes for an individual investment. Duration analysis can be performed on either a modified or effective basis. A duration report is one of the standard choices. The system provides a report writer for ad-hoc reporting capabilities. It includes data dictionaries,which allow for the calculated fields from the standard reports to be captured for custom reporting purposes. Output of information can be in HTML, Label,Excel,ASCII,Lotus, Word or Word perfect formats. There is a direct interface to Excel which will automatically graph investment information. The system can perform true partial sales analysis capturing the accrued interest, beginning and ending par and book value, and gain or loss on an investment. Data labels in the investment screens can be customized to meet the users needs. There is a module available to provide for the allocation of income from a "pooled."portfolio to the various participating sub-funds. This option provides for a wide range of portfolio management configurations. This document reflects the known items that are specific to SymPro's treasury Management Software. Tracy Bennett Senior Account Executive SymPro,Inc.