SUBJECT:
Action regarding Approval of the purchase of new hardware/software for check payment processing
BACKGROUND/DISCUSSION:
During a forensic audit and evaluation of the finance system, an area of vulnerability identified was at the connection from the check processing software to the utility billing application. When the weakness was identified, the City discontinued use of the current check processing software. Since that time City staff has been entering check payments into the system manually and sending checks to the bank with the daily deposit. This request is to purchase a new check processing system that will be secure, not vulnerable to the same weaknesses as the former system, and much more efficient than the current manual entry process.
FINANCIAL IMPACT:
The initial cost of the hardware and software is $12,964 with an annual, recurring cost of $1,644. Funding is available in the Enterprise Fund.
RECOMMENDATION:
Approve purchase of check processing hardware and software. |