Agenda - 09-26-2005-1 - Laserfiche WebLink

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needed to invest in VOIP equipment during the past year and has not needed to consider alternative providers of telephony or VOIP equipment. Based on our suggestion, IT will consider alternative vendor solutions for any future VOIP implementation. While we were reviewing the paid invoices, we found $2,295.00 of monthly service that was incorrectly billed and we worked with CHCCS to obtain a refund. CHCCS personnel worked with the vendor to obtain a credit of $31,833.86 on the March 2005 invoice. In addition, certain invoices included taxes from which CHCCS could be exempt. After we informed CHCCS personnel of the error, CHCCS contacted a previous consultant who said they had requested the telecommunications vendor to remove the taxes from the invoices. The previous consultant is reported to be working with the telecommunication vendor to have the taxation stopped; however the taxes were still on the June 2005 invoices. North Carolina Sales and Use Tax Additional refund requests were mailed April 8, 2005 to the NC Department of Revenue for the following periods and amounts: 2001 -2002 $ 72,279.88 2002 -2003 $176,731.57 2003 -2004 $ 40,750.12 Total $289 761.57 The State is taking about nine months to process sales and use tax refunds. Cash Management We reviewed various cash management alternatives and recommended a new account approved by the State of North Carolina that has a higher interest rate. Additional Old New Ave Daily Interest Month Rate Rate Balance Income Jan 2005 2.05% 2.59% $ -0- $ -0- Feb 2005 2.29% 2.85% $2,964,286 $ 1,377.13 Mar 2005 2.38% 2.95% $5,006,473 $ 2,423.68 Apr 2005 2.55% 2.75% $5,019,032 $ 838.82 May 2005 218% 2.98% $5,009,733 $ 845.07 Jun 2005 2.81% 3.01% $4,154,374 $ <70.41>