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1 <br /> <br /> STAFF REPORT <br />DATE: March 4, 2025 <br /> REGULAR <br /> <br />TO: Mayor & Council <br />FROM: Clarissa Hadler, Finance Director <br /> Nina Kraemer, Finance Coordinator <br />AGENDA ITEM: New Financial Software <br />REVIEWED BY: Nicole Miller, City Administrator <br /> <br />CORE STRATEGIES: <br /> <br />☐ Vibrant, inclusive, connected community ☒ Efficient, reliable, innovative services <br />☐ Responsive, transparent, adaptive governance ☒ Balanced Finances now and future <br />☐ Managed Growth ☐ Resilient Infrastructure <br /> <br />BACKGROUND: <br />This item was tabled at the Feb. 18 Council meeting so that additional review and negotiation of the contract <br />could take place. <br /> <br />City Attorney Sonsalla reviewed the contract and made some added requests. I also made some additional <br />changes based on Lakeville’s contract language. BS&A accepted a number of the revisions, but mostly the <br />“easy” ones. <br /> <br />Of note are the following; <br />• BS&A did not accept our proposed changes to the annual increases. For context, the difference between <br />a 4% increase and a 5% increase is less than $500. While disappointing, we are confident that the <br />difference in this cost is outweighed by the improvements this software will make on our financial <br />systems. <br />• They also rejected our indemnification and limitation of liability language, which the Council had <br />inquired about. <br /> <br />I requested that the City’s Auditor, Ryan Schmidt, speak to the benefits of integrated software. His response <br />follows; <br /> “Having fully integrated software platforms is crucial for ensuring accurate accounting and financial <br />reporting. When these systems are properly integrated into a single centralized system, it greatly <br />reduces the likelihood of errors that we often come across in situations where manual data entry is <br />involved. It also allows for more streamlined accounting processes, quicker financial reporting, and <br />ultimately better decision-making by eliminating the need to manually input data across multiple <br />systems. So, in the long run, there are generally both time & cost savings realized as a result of having <br />a fully integrated and functional system in place for your various accounting & business processes.” <br /> <br />Last month’s memo goes into detail about the areas of the organization that will see increases in processes and <br />efficiency. That, in turn, increases our capacity, which allows us to maintain the same level of finance staff <br />even as the city continues to grow. <br />