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systems, the main focus is on output, ease of entry, flexibility, fit with our <br />current operating procedures, and completeness and integration of the <br />system. Secondary considerations, once it's determined the system fits our <br />needs, include financial stability of the vendor, training costs and <br />availability, initial investment, annual operating costs, and vendor support. <br /> <br />After applying these criteria to the two systems selected, FundBalance was <br />selected. Because there were no hardware costs required up front it is <br />considerably less expensive. See the attached System Selection detail for <br />initial investment and annual support cost comparisons. More important <br />though, it is more flexible and up to date than our current system and also <br />offers future accessibility to department heads through our current network. <br />The disadvantages of FundBalance include the unfamiliarity of the system <br />which requires additional staff time and costs for training and conversion, <br />the loss of history files, and the out of state location of the vendor. The <br />concern over FundBalance's location was negated by the fact that there are <br />currently over 30 entities in Minnesota using this system. <br /> <br />Initially FundBalance was offering a discount through October 1, 1997. After <br />informing them that we would be unable to make a decision by that time, the <br />discount was extended until November 18. If the Council approves this <br />recommendation and agrees to enter into a Letter of Intent to Purchase, the <br />discount savings will be approximately $7,000. The Letter of Intent to <br />Purchase will contain several provisions that must be confirmed or met prior <br />to actual purchase including confirmation of year 2000 compliance, some type <br />of annual support cost containment agreement, agreement on the cost to <br />purchase major program updates, and several other items. Although the <br />Letter of Intent to Purchase will be dated November 18, 1997, actual <br />implementation will not begin until July 1998. <br /> <br />The 1997 and 1998 budgets include $24,000 for this purchase and $7,000 for <br />training. The approximate cost of FundBalance software is $12,000 and <br />training is estimated at $6,000. The remainder of the budget will be used to <br />purchase a duplex laser printer and at least two personal computers. The <br />total hardware and software purchases should not exceed the budget. <br /> <br />Action Requested <br /> <br />The Council is asked to authorize staff to enter into a Letter of Intent to <br />Purchase FundBalance software packages and related implementation and <br />training services as outlined in the attachment. <br /> <br />\XelkriverXsysXshrdocXcouncil\finclsft.doc <br /> <br /> <br />