From
Steven Cherry
Title
Contract for Credit Card Payment System with sole source provider OpenEdge for an initial term of 3 years with two options to renew for 2-year terms, for .$08 per transaction for an annual amount not to exceed $125,000; authorize the City Manager to execute renewal options with aggregate price fluctuations of the lesser of up to $50,000 or 25% of the original maximum price so long as sufficient funding is appropriated by the City Council to satisfy the City's obligation during the renewal terms
Presenter
Steven Cherry, Court Services Director
Recommended Action
Approve
Analysis
OpenEdge is a preferred partner of Tyler Technologies Software products which hosts the courts case manager software "INCODE". OpenEdge is the integrated credit card processor for automated bank reconciliation, direct refunds to credit card accounts and one step voided payments. With the current provider citizens must wait 3 to 4 days for their payments reflect back on their credit cards for voided transactions.
Financial Consideration
The current credit card provider has an effective rate of 1.24% and OpenEdge will have effective rate of 0.95%. Based on an analysis of $320,621 in revenues a month there will be an approximate savings to the City of $918.15. The Municipal Court in 2019 processed 40,398 credit card transactions with a associated amount of $6,936,217.27 in revenues. OpenEdge has also submitted an IC + Fee Lock Guarantee for the term of the contract. Funds are available in the FY2020/2021 Pooled Investment Fund budget 223810-61425 and will be charged accordingly through the end of the fiscal year. Funding for future fiscal years will be paid from that year's approved budget.