TO: BOARD OF SUPERVISORS
FROM: Auditor-Controller Treasurer-Tax Collector
MEETING DATE: June 24, 2025
DEPARTMENT CONTACT:
Chamise Cubbison
PHONE:
707-234-6860
DEPARTMENT CONTACT:
Kikie DeLong
PHONE:
707-234-6860
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Approval of Retroactive Agreement (Second Amendment to Agreement No. AC-A23-001) with Fifth Asset, Inc. d/b/a DebtBook for an increase in the Amount of $66,000 for a New Total of $107,000 for Specialized Software and Services for the Management and Required Reporting of Bonds, Leases and Subscription-Based Information Technology Arrangements, Effective May 22, 2023, through May 15, 2028
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RECOMMENDED ACTION/MOTION:
recommendation
Approve retroactive Agreement (second amendment to Agreement No. AC-A23-001) with Fifth Asset, Inc. d/b/a DebtBook for an increase in the amount of $66,000 for a new total of $107,000 for Specialized Software and Services for the management and required reporting of bonds, leases and subscription-based Information Technology arrangements, effective May 22, 2023, through May 15, 2028; and authorize Chair to sign the same.
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PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
None.
SUMMARY OF REQUEST:
The State has mandated County reporting of lease assets and liabilities, in compliance with Government Accounting Standards Board (GASB) Pronouncement 87; and for reporting Subscription-Based Information Technology Arrangements (SBITA) in compliance with GASB-96. The County currently manages debt service payments for thirty districts and has an estimated thirty-fifty GASB-87 qualifying leases. The County currently has many Subscription-Based Information Technology Arrangements that are subject to similar reporting requirements. The vendor's software product, DebtBook, is a consolidated Debt, Lease and SBITA management software product. There are achievable cost savings to be realized by utilizing one software solution for these sep...
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