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City of Lake Elmo. <br />EDP Recommendation <br />Page 5 <br />Preferred Option <br />Based on our discussions with you and Pat Morrison on April 27, 1989, your preference at <br />this time is to obtain the following configuration plus the initial supplies (diskettes, pre- <br />printed check forms, computer paper, etc.) to make the system ready for implementation: <br />Estimated <br />Description <br />Cost <br />Banyon Data Systems: <br />General Ledger Software (Level 2) <br />$ 3,000 <br />Software Support <br />600 <br />Initial Training on Application <br />600 <br />Electronic Spreadsheet Program: <br />Microsoft Excel <br />250 <br />Word Processing Program: <br />Microsoft Word 250 <br />Total Software Estimated Cost 4,700 <br />Total IBM Compatible Computer System 4,250 <br />Total estimated system cost $ 8,950 <br />Financing <br />You had also discussed the use of equipment certificates for the computer acquisition. You <br />indicated that the City anticipates the issuance of an equipment certificate in 1990. The use <br />of equipment certificates for computer equipment is allowable pursuant to MS 412.301. <br />The City may establish the Equipment Purchase Capital Project Fund prior to issuance of <br />the certificates. This fund would incur a temporary deficit prior to bonding. Your fiscal <br />consultant should include capitalized interest in the bond issue from the date of the <br />computer equipment is purchased, our fees and other included costs related to the <br />acquisition would also qualify for bonding. You may wish to also include the cost of the <br />utility software which the City may purchase by the end of 1990. if this purchase is not <br />made, the excess bond proceeds could be transferred to the debt service fund. <br />This report and the attachment must be discussed prior to any final decision. Please call us <br />to make arrangements to meet with us for such discussion after you have had a chance to <br />study this material. <br />Sincerely, <br />VOTTO, TAUTGES, REDPATH & CO., LTD. <br />Robert G. Tautges, CPA <br />