To: Board of Supervisors
From: Auditor-Controller
Agenda Section: Consent
Vote Requirement: Majority
SUBJECT:
title
Second Amendment to the Software Services Agreement with Fifth Asset, LLC
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve, and authorize the Purchasing Agent, or a designee thereof, to execute, the attached second amendment to the software agreement with Fifth Asset, LLC which expands the scope of services provided thereunder for a total contract amount of One Hundred Twenty-One Thousand Dollars ($121,000.00) for the period of November 17, 2023 through November 16, 2027; and
2. Authorize the Purchasing Agent, or a designee thereof to execute any and all subsequent amendments, and other documents directly related to, the software services agreement with Fifth Asset, LLC, after review and approval by County Counsel, Risk Management and the County Administrative Office.
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STRATEGIC PLAN:
The recommended actions support the following areas of the Board of Supervisors' Strategic Plan:
Area of Focus: Workforce & Operational Excellence
Strategic Plan Category: 3001 - Support a well-trained workforce
DISCUSSION:
On November 17, 2023, the County of Humboldt entered into an agreement with Fifth Asset, LLC, doing business as DebtBook, to provide lease accounting software for the purpose of assisting the Humboldt County Auditor-Controller's Office with complying with the requirements of Government Accounting Standards Board ("GASB") Statement 87. Fifth Asset, LLC was selected after a series of demonstration and quotations with several vendors and discussions with Auditor-Controllers from several counties throughout the north coast region. The software services agreement with Fifth Asset, LLC had an initial maximum amount payable of Forty-Two Thousand Dollars ($42,000.00) for the period of November 17, 2023 through November 16, 2026.
On October 16, 2024, the County of Humboldt and Fifth Asset, LLC amended ...
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