CC MEETING: November 5, 2024
DATE: October 29, 2024
TO: Erin Rinehart, City Manager
FROM: Diana Vaughn, Chief Financial Officer
Chrystal K. Davis, Assistant City Manager
Title
Consider Authorizing The City Manager To Enter Into An Agreement With Vertosoft LLC, Through The TIPS Purchasing Cooperative, For The Purchase Of Invoice Cloud Credit Card Gateway Payment Processing Services In An Annual Amount Not To Exceed $150,000, For A Five-Year Total Amount Not To Exceed $750,000.00.
Body
BACKGROUND:
The City currently utilizes Invoice Cloud as the gateway for credit card processing services for Building Inspection and Environmental Services under one contract and there is a separate contract for Utility Customer Service. The objective now is to consolidate the contracts. The current Utility Customer Service contract’s payment terms, in which VertexOne covers up to $130,000 of expenses, are nearly exhausted, making this an ideal time for consolidation. The new contract will allow staff to continue with essential payment processing services that are critical to operations under a single contract. This consolidation was a planned part of the implementation.
FINANCIAL IMPLICATIONS:
Credit Card gateway fees will be purchased from budgeted funds.
COST CENTER LINE-ITEM BUDGET AMOUNT
441001 61805 $10,000.00
144001 61805 $140,000.00
IMPACT ON COMMUNITY SUSTAINABILITY:
This project supports and aligns with the City Council’s goals and objectives to leverage technology to improve our effectiveness and efficiency.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends Council authorize a contract with Vertosoft LLC for the purchase of Invoice Cloud credit card gateway payment processing services in the amount of $150,000 for year one and a five-year contract total amount not to exceed $750,000.00.