Explanation
BACKGROUND: It is necessary for the Columbus City Treasurer to modify and extend its existing contract with Fifth Third Bank for the provision of credit card services required for the processing of water bill payments over the Internet. Such services currently may only be provided by Fifth Third Bank as the software running the payment engine maintained by the Division of Power and Water was written specifically for Fifth Third Bank and its gateway, Verisign. The Department of Public Utilities expects the completion of a new payment engine, currently in development, late in 2008 that will facilitate the processing of payments through First Data, which currently processes other credit card payments for the City of Columbus through a contract with Huntington Merchant Services. As a result of the length and complexity of the software development process, it is recommended that the contract be extended for an additional year.
During 2006, expenditures with Fifth Third for this service were $144,825.33. Expenditures for 2007 totaled $208,074.79. Expenditures for this service are exceeding expectations and there will be insufficient funds on the current contract to be able to pay for twelve months of services. The Division of Power and Water therefore requests $420,000 to ensure that sufficient resources are available for this contract through March 31, 2009.
Contract Compliance Number: Fifth Third 310740333 expiration 10/20/2008
FISCAL IMPACT: This ordinance is contingent on passage of the 2008 Department of Public Utilities, Division of Power and Water budget. Funds for this contract are available within the Department of Public Utilities, Division of Power and Water 2008 appropriations.
EMERGENCY: This ordinance is submitted as an emergency 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.
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