Sponsor: Finance
Title
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Agreement with Three+One Company Inc for Liquidity Monitoring and Treasury Analysis Services
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Recommendation
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1. Approve the agreement with Three+One Company Inc, 180 Office Parkway, Pittsford, New York 14534 for cash analysis software for the period beginning February 1, 2025, through January 31, 2026 with an option for two one-year renewals, in accordance with the rates established in the agreement.
2. Authorize the Chair and Chief Clerk to execute the agreement.
3. Authorize the County Manager to execute amendments to the agreement in accordance with the county’s procurement policies and procedures, provided the amounts are within the limits of available funding.
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Background and Rationale
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The Finance department currently lacks tools to conduct comprehensive liquidity analysis. To address this gap, Finance is planning to implement Three+One's software, CashVest. This innovative software offers detailed liquidity analysis, which will provide essential data to maximize financial resources through revenue generation or cost-saving opportunities.
CashVest will empower Finance staff with actionable insights into cash and liquidity management. These insights will help generate a list of savings and revenue enhancement recommendations. The resulting earnings and savings can be used to offset the cost of the software and increase revenue for the county.
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County Goals (Check those advanced by Action)
☒ Well-being ☐ Prosperity ☒ Opportunity ☒ Accountability
Racial Equity Impact
Entering into this agreement by itself does not have a measurable racial equity impact but Finance continues to review into where the county banks, how the county invests funds and even how the county issues debt to increase the diversity and make investments that build wealth in the community. The information and reports that the Finance department receives through Three+One will help inform this work.
Community Participation Level and Impact
No community participation was engaged for the request for proposals or the selection of CashVest software.
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
The estimated annual cost of this agreement is $94,500. Finance has sufficient funding available in the approved 2025 operating budget and will include this cost in subsequent budgets if renewed. The total cost for the proposed three years with anticipated renewals is $283,500. This is the first agreement Finance has had for this service.
Last Previous Action
None.
Attachments
1. Professional Services Agreement