REPORT TO THE CITY COUNCIL
FROM: SANTINO DANISI, MBA, City Controller/Finance Director
Finance Department
BY: KALEB NEUFELD,MBA, Assistant Controller/Assistant Director
Finance Department
SUBJECT
Title
Approve a Treasury Investment Management Software Service Contract with Emphasys Computer Solutions, Inc. for a four-year term in an amount not to exceed $163,165, with three (3) optional one (1) year extensions each not to exceed $48,500 annually (Bid File No. 12501002)
Body
RECOMMENDATION
Staff recommends that City Council authorize the Finance Director or designee(s) to execute a four-year contract with three (3) optional one (1) year extensions with Emphasys Computer Solutions, Inc., in the total amount of $163,165, to provide Treasury Investment Management software services to the City of Fresno Finance Department, as outlined in the City's Request for Proposals (RFP).
YEARLY BREAKDOWN OF COST
|
Year |
Cost |
|
1 |
$44,000 |
|
2 |
$37,800 |
|
3 |
$39,690 |
|
4 |
$41,675 |
|
Total Contract |
$163,165 |
EXECUTIVE SUMMARY
The City of Fresno (City) currently maintains an agreement with Emphasys Treasury Desktop Software for treasury investment management services, which is set to expire on December 31, 2025. In anticipation of this, the City issued a Request for Proposals (RFP) for continued treasury investment management software services, posting the solicitation on PlanetBids on January 15, 2025. Two software vendors submitted proposals in response.
An Evaluation Committee was convened, comprising representatives from the Finance Department and the Information Services Department (ISD). A Purchasing Division representative served as the Facilitator for the Committee. Each proposal was evaluated based on the criteria outlined in the RFP, with emphasis on the vendor’s ability to meet the required service specifications and the competitiveness of their cost proposal.
Based on this evaluation, staff recommends awarding a four-year contract to Emphasys Computer Solutions, Inc. The contract totals $163,165, with Year 1 priced at $44,000 (including a one-time setup fee of $8,000), and base pricing increasing by 5% annually for Years 2 through 4. Additionally, the contract includes three optional one-year extensions, each not to exceed $48,500 annually.
BACKGROUND
As a large government entity, the City of Fresno (City) maintains an extensive and complex investment portfolio governed by detailed policy requirements designed to safeguard its financial assets. To support these efforts, the City relies on treasury investment management software to perform critical financial functions, including tracking investment activity, amortizing premiums and discounts, updating monthly market values, publishing investment reports, and ensuring compliance with both the City’s investment policy and GASB standards. These services are essential for maintaining accurate and transparent financial reporting and for meeting the City’s financial obligations in accordance with best practices and regulatory requirements.
In response to a Request for Proposals (RFP) issued by the City, two software vendors-Emphasys Computer Solutions, Inc. and Clearwater Analytics, LLC-submitted proposals. An Evaluation Committee composed of staff from the Finance Department and the Information Services Department (ISD), as well as a Facilitator from the Purchasing Division evaluated the submissions.
The RFP required proposers to address key service components, including interface capabilities, GASB compliant reporting, cloud security measures, and custom report generation. Proposers were also asked to identify any additional products or services that could benefit the City beyond its current system, and to submit detailed contract language for comparison with the City’s standard terms and conditions.
Each proposal was reviewed in full, and both proposers delivered virtual presentations to the committee. Evaluations were based on the criteria outlined in the RFP:
1. Experience as past performance based on references and information provided.
2. Ability to meet the stated service requirements.
3. Conformance to the terms and conditions of the RFP.
4. Cost as shown on the proposal form.
5. Other related information.
ENVIRONMENTAL FINDINGS
By the definition provided in the California Environmental Quality Act Guidelines Section 15378 this item does not qualify as a “project” and is therefore exempt from the California Environmental Quality Act requirements.
LOCAL PREFERENCE
Local preference was not implemented because no local firms responded to the RFP.
FISCAL IMPACT
The recommended contract with Emphasys Computer Solutions, Inc. is a four-year agreement totaling $163,165. Year one is priced at $44,000, which includes a one-time setup fee of $8,000. The base cost increases by 5% annually in years two through four. Additionally, the contract includes three optional one-year extensions, each not to exceed $48,500 annually.
Attachments:
Procurement Evaluation and Committee Report
Service Contract