Explanation
BACKGROUND:
On February 11, 2008 Columbus City Council passed ordinance number 0148-2008 authorizing the Columbus City Treasurer's Office to modify and extend various banking services contracts, among which was a contract for credit card processing services with the Huntington Bank, for the period of February 29, 2008 through February 28, 2009, on behalf of various city divisions. At that time, the Division of Power and Water (Water) was not included, as the division required programming changes to its software in order to be able to transition from Fifth Third Bank, its current provider of services, to Huntington. The development of the software has progressed more quickly than expected and as a result, a contract modification is needed to provide funds for the Division of Power and Water (Water). This ordinance increases the contract for credit card processing services. The original contract amount is 337,800. The contract modification will increase the contract amount to $697,800.
During 2006, $136,123.37 was expended by various city divisions for this purpose. In 2007, expenditures totaled $247,228.14.
FISCAL IMPACT: Sufficient resources are available for this contract modification.
Emergency action is requested to allow the financial transaction to be posted in the city's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Contract Compliance: Huntington Bank, 113328074, expiration 3/7/2009
Title
To authorize the City Treasurer to modify the existing contract for credit card processing services with Huntington Bank; to authorize the expenditure of up to $360,000 from the water operating fund; and to declare an emergency. ($360,000.00)
Body
WHEREAS, the City Treasurer wishes to modify the existing contract for credit card processing with Huntington Bank, originally authorized by Columbus City Council on February 11, 2008 by ordinance number 0148-2008; and
WHEREAS, an additional $360,000 is needed on the contract for credit card processing by the Division of Power and Water (Water); and
WHEREAS, as an emergency exists in the usual daily operation of various city divisions, as it is immediately necessary to modify the existing contract with Huntington Bank and authorize the expenditures as cited below, providing credit card processing services necessary for the daily operation of normal business activities of the City of Columbus, thereby preserving the public health, peace, property, safety and welfare; now therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS
SECTION 1. The City Treasurer is hereby authorized to modify the existing contract with Huntington Bank for the provision of credit card processing services and authorize the expenditure of $360,000, or so much thereof as may be necessary, as follows:
Fund: 600 | OCA: 602318 | Object level one: 03 | Object level three code: 3348 | Amount: $360,000.00 | Division of Power and Water (Water)
SECTION 2. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.