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Agenda - 06-07-2011 - 5d
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Agenda - 06-07-2011 - 5d
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6/3/2011 2:32:38 PM
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6/3/2011 2:32:37 PM
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BOCC
Date
6/3/2011
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
5d
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Minutes 06-07-2011
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\Board of County Commissioners\Minutes - Approved\2010's\2011
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The gains in efficiencies and cost savings realized by those gains are ample justification for the <br />program. Other benefits that should be pointed out that would be gained by instituting this <br />program are: <br />1. Rebates -Bank of America is the State Contract provider for Purchasing Cards. The <br />County would benefit from rebates based on the County's total expenditures, as well as <br />rebate rates based on the expenditures of all State and Local Government agencies <br />participating in the Bank of America program. <br />2. Reduction in Paper usage -The transactions will be predominantly electronic and <br />reduce the number of checks written as well as the paper required to process accounts <br />payable to multiple companies. <br />3. Financial resource planning -Issuing one check per month to a single recipient will <br />allow the County to hold onto funds longer and be able to take advantage of short term <br />investment opportunities. <br />If the Board approves this program, Financial Services plans to implement the program initially <br />through pilot programs. This will allow the County to be up to speed when the cards are made <br />available to all departments in late third quarter 2011. Each department will be assessed on a <br />case by case basis and only certain employees will be issued cards. Each employee that uses <br />the card as well as departmental accounts payable staff clerks will be given ample training <br />before cards are activated. <br />The Bank of America Purchasing Card Program is utilized by multiple other local governments <br />that also have Munis as their enterprise resource planning solution and will therefore interface <br />easily with the County's existing system. <br />FINANCIAL IMPACT: If approved, there are no service fees associated with this program. <br />RECOMMENDATION(S): The Manager recommends that the Board approve of the County <br />entering into an agreement for the Bank of America Purchasing Card Program and authorize <br />the Chair to sign the Application on behalf of the Board. <br />
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