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Investment and Debt Management Software Recommendation Copyrighted December 2, 2024 City of Dubuque CONSENT ITEMS # 5. City Council ITEM TITLE: Investment and Debt Management Software Recommendation SUMMARY: City Manager recommending City Council approval of SymPro Treasury Management Solutions for the City's investment and debt management software. SUGGUESTED Receive and File; Approve DISPOSITION: ATTACHMENTS: 1. MVM Memo Investment and debt management software_MVM memo_2024_11_14 2. Investment and Debt Management Software_Staff memo_2024_11_14 3. Investment and Debt Management Software RFP_2024_09_04 4. SymPro Responses to Dubuque RFP - Investment and Debt Management Software Page 77 of 645 Dubuque THE CITY OF � AIFA�eiia Ciq DU B E 'I I ' � � � Maste iece on the Mississi 1 Zoo�•zoiz�2ois �P pp zoi�*zoi9 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Investment and Debt Management Software Recommendation DATE: November 14, 2024 Chief Financial Officer Jennifer Larson recommends City Council approval of SymPro Treasury Management Solutions for the City's investment and debt management software. The cost associated with this solution includes an annual maintenance fee of $42,000 and a one-time implementation fee of$16,000. Funding for this software will come from the existing ERP implementation budget. I concur with the recommendation and respectfully request Mayor and City Council approval. �JL�""w'� v Wrr Michael C. Van Milligen MCVM/jml Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Jennifer Larson, Chief Financial Officer Brian DeMoss, Finance Manager Chris Kohlmann, Chief Information Officer Joe Pregler, Chief Security Officer Page 78 of 645 Dubuque THE CITY OF � AIFA�eiia Ciq DU B E 'I I ' � � � Maste iece on the Mississi 1 Zoo�•zoiz�2ois �P pp zoi�*zoi9 TO: Michael C. Van Milligen, City Manager FROM: Jennifer Larson, Chief Financial Officer SUBJECT: Investment and Debt Management Software Recommendation DATE: November 14, 2024 INTRODUCTION The purpose of this memorandum is to recommend SymPro Treasury Management Solutions for the City's investment and debt management software. BACKGROUND Currently, our debt management process is largely manual, relying on spreadsheets and a physical binder of amortization schedules. This system is labor-intensive, particularly during the processing of semi-annual debt service payments and the preparation of annual audit workpapers. Additionally, the investment reports provided to the investment advisory oversight commission are cumbersome to compile, encompassing various spreadsheets and extensive oversight of our certificate of deposit portfolio. In an effort to enhance efficiency and improve reporting capabilities, finance staff developed a Request for Proposal (RFP) for investment and debt management software. The RFP was released on September 4, 2024, with proposals due by October 4, 2024. DISCUSSION Two proposals were submitted in response to the RFP: Debt Book and SymPro Treasury Management Solutions. The RFP required a comprehensive submission addressing several criteria, including: • Experience and general capabilities • Customer service and support • Software capabilities and compliance • Usability, accessibility, and collaboration features • Cost of proposal The Investment and Debt Management Software RFP committee included Jennifer Larson, Chief Financial Officer, Brian DeMoss, Finance Manager, and Joe Pregler, Chief Security Officer. Page 79 of 645 Notably, SymPro Treasury Management Solutions was the only vendor that could provide a solution encompassing both investment and debt management; Debt Book only offered debt management capabilities at this time. On November 13, 2024, SymPro conducted a software demonstration for the RFP committee. Following the demonstration, the committee unanimously selected SymPro based on several key factors: • They have established credibility with several lowa clients, including the Cities of Des Moines, Ames, Cedar Rapids, and Sioux Falls. • The software generates daily or monthly journal entries that can be directly exported to the ERP's general ledger. • It allows for comprehensive tracking of both investment and debt portfolios. • The system includes public sector calculations of yields and returns. • Customer service features support personnel with an average tenure of ten years. • As a cloud-based solution, it can be accessed from anywhere, enhancing flexibility for our team. The cost associated with this solution includes an annual maintenance fee of$42,000 and a one-time implementation fee of$16,000. While the investment and debt management software was omitted from the initial contract with Tyer Technologies, it was determined to release an RFP following the significant completion of the ERP implementation project. Funding for this software will come from the existing ERP implementation budget. RECOMMENDATION I respectfully recommend that the City award the investment and debt management software contract to SymPro Treasury Management Solutions. This partnership will streamline our processes, improve reporting, and ultimately enhance our financial management capabilities. JML Attachment cc: Crenna Brumwell, City Attorney Brian DeMoss, Finance Manager Chris Kohlmann, Chief Information Officer Joe Pregler, Chief Security Officer 2 Page 80 of 645 REQUEST FOR PROPOSAL (RFP) THE CITY OF ISSUE DATE: September 4, 2024 DT TR � CONTACT: Jenny Larson LJ l� PHONE NO: 563-589-4322 Masterpiece on the Mississippi EMAIL: jlarson cityofdubuque.org SUBMIT PROPOSAL/OFFER PRIOR TO: SUBMIT TO: CLOSING DATE: October 4, 2024 See Section 6.0 CLOSING TIME: Before 2:00 P.M. (local time FAX NOT ACCEPTED DESCRIPTION: Investment and Debt Management Software o RECEIPT OF PROPOSAL ACKNOWLEDGEMENT If you are considering a response to this RFP, please mark the box to the left, fill in the information below and return this sheet as a confirmation that you received this RFP. ❑ NO RESPONSE REPLY If you do not want to respond to this RFP at this time, please mark the box to the left, fill in the information below and return this sheet only. COMPANY NAME: DATE: MAILING ADDRESS: CITY/STATE: ZIP CODE: AUTHORIZED SIGNATURE: PRINTED NAME: TITLE OF AUTHORIZED REPRESENTATIVE: EMAIL: PHONE: Page 1 of 28 Page 81 of 645 [Page Intentionally Left Blank] Page 2 of 28 Page 82 of 645 CI�T'Y OF' DUBUQU � FI l�iAl�i G� D�PAF�'T'1VI�l�i'T' REQUEST FOR PROPOSAL ., , �- ' �� ' y� ,, '�, � _ !k- ti h3 r' i 4 sa_r''�y =- .+� � l h �j�r� i� �'.� ` . ,�� r,. . '`? K� `a"� �� F ,,�>�.,�` ,� r: +,U ...�eT , �� .�:'a �._.,w. .... 44 .�a 3. � ,d.. ~.� �ys, x. . - • ��, ., -a�saf+�.,. .�, -nso-��.� --p^• 'e' a5��{ � T"aZ� � r � �...� �.�_ y �f�. �j *{ j �-.. ... .-; '�.��r� � � ^��",�"P'\� I� �`Illl �� F� ��,a`�1� *Y i I+� — _ ..,._.: _ . . ��`� tii "iL r�" .. � .. I x� X i � �' . .. �.�.1"4e,b , -��,. .. , _ . �. .. ,� F - '� .� �'r�. .' �- � a l'� ._.�- _.-. v -,� -- . - r. -- 'z; -:. --.. ,., , ./t�' -s- .. .: ,,�— r n�` _ "ak�`� � i � '�.s.�_ � W � �. ��r � .}+ � , .. > � ��`� -!i�I '= _ _ � .. 4�°t �,1�� ' - i '� ws�' _ _— _ �� ' �' � ",l� �� 'i: -- � I � _ �--� . ` � � �n � � , �'� �i .�, � � I��; ��Z� �i7: �� ' � � `�'• _' 1r� ��ii - . ,�.F., . - `� •� t � �� '�,� �3� II ��!.• "�t; W_. �� `---� L.I�� - - �� I � I L7��7 I I j �'. �� I � i -��. -�.�� f � , I�, ` '� � �� ' ` � � i r �r�r �' , �-,E ._.� � ��i�� ; !�w+� ly' !� ` � . � ' l � � � �- ��, `'g'_'� �; � < `� ' -;� '� _ . - _ � ��--'�� ` , - ..1 �� Investment and Debt management Software City of Dubuque, lowa Page 3 of 28 Page 83 of 645 RFP ORGANIZATION Investment and Debt Management Software City of Dubuque, lowa September 4, 2024 Table of Contents SECTION PAGE 1.0 Introduction.................................................................. 5 2.0 Scope of Services...................................................... 5 3.0 Community Background.................................................. 9 4.0 Use of City Resources.................................................... 10 5.0 Information to be Included in the Proposal.......................... 10 6.0 Proposal Question and Answers....................................... 12 7.0 Evaluation of Proposals............................................... 13 8.0 Submission Requirements............................................... 13 FeeProposal............................................................... 15 Appendix A Insurance Requirements................................................. 16 Appendix B City of Dubuque Contract Terms and Conditions................. 21 Appendix C City of Dubuque Data Sharing Agreement................. 27 Page 4 of 28 Page 84 of 645 Investment and Debt Management Software City of Dubuque, lowa Investment and Debt Management Software Request for Proposal September 4, 2024 1.0 INTRODUCTION The City of Dubuque, lowa is soliciting competitive sealed proposals from qualified vendors to provide a software solution to support Investment and Debt management. Currently, the City has no centralized solution. Project information to include but not limited to all functions related to bonding, and should be able to handle different users, trades, and unique functional needs for each investment and debt type. (the "RFP"). Our objective is to identify a software package that is commercially available and will provide maintenance and support. Services may consist of planning, organizing, installing, configuring, testing for acceptance and compatibility to City systems and user training on the Software. 2.0 SCOPE OF SERVICES A. The Offeror shall: 1. Develop a Business Requirements Plan/Report to detail the approach that will be used for each of the key areas. 2. Develop a workflow plan for implementation of the software. 3. The software must have the capability for the import and export of data. Such capabilities should be within industry standards and comply with the BEST standards and practices. 4. Train designated staff in the use of the software. 5. Train designated staff in the creation and preparation of reports. 6. Provide maintenance on the system once implemented. 7. Maintenance and support will begin immediately after implementation of the new computer system in the production environment. 8. Include a plan for submitting system change orders, upgrades, Page 5 of 28 Page 85 of 645 fixes, and enhancements by the software management during maintenance of the system. 9. Creation of journal entries to interface with general ledger. 10.To safeguard the information input into the proposed Software and limit access to administrative features to authorized personnel, the proposed Software, at a minimum must have the following security requirements: a) Provide daily, weekly, monthly, and yearly backup features. b) Provide audit trail to verify input entries for accuracy; for example, security logs for each element changed with before and after displays including identification of user initiating change. c) User IDs and passwords to access levels in the software system. d) Menu-driven with on-line support and a help index. e) Manuals should be accessible via the Internet to multiple users. B. Software features for debt management shall provide all functions related to bonding, including but not limited to the following: 1. Bond structure and sizing: a) Fixed rate, variable rate, current refunding, advance refunding, cash defeasance, temporary financing, short-term debt instruments, etc. b) Ability to provide information specific to a bond issue, such as sources and uses of funds, and provide for the following: • Maintenance of all debt payment schedules • Scheduling of all debt payments by due date, principal and interest and fees, total due, department, fund and accounting line item • Calculation of all year-end accounting adjustments by bond issue and loan, fund and accounting entry, including accrued interest, reversal of prior year accrued interest, amortization of premium and discount and deferred charges • Possible tracking of actual bonds by CUSIP within each bond issue for continuing disclosure purposes • Tracking of actual payments made by bond and loan, principal and interest, and date • Allowing calculation of pro-forma amortization schedules at the bond level to determine effect on other debt outstanding C. The software will be responsible for the following Reporting and Compliance function which the software assists with: 1. Continuing disclosure related to bond portfolio. Page 6 of 28 Page 86 of 645 2. Official Statement table reporting related to authorized, allocated and issued bonds, outstanding debt per type, and other tables. The following list of reports, while not all inclusive, should be available and downloaded to Microsoft Excel: a) Outstanding Long-Term General Obligation Debt b) Summary of Principal and Interest on Long-Term Direct General Obligation Debt c) Outstanding Long-Term Direct General Obligation Debt d) Authorized but Unissued Direct General Obligation Debt e) Special Tax Obligation Debt Service on Outstanding Bonds f) Special Tax Obligation Actual & Projected Debt Service Coverage g) Annual reporting for Treasurer's Annual Report h) Financial reporting i) Debt Cash flow reporting j) Ad hoc reporting capabilities D. Software features for investment management must be compliant with GASB31 (Accounting and Financial Reporting for Certain Investments and for External Investment Pools), GASB 40 (Deposit and Investment Risk) and GASB 72 (Fair value Measurement). 1. At a minimum, the software must provide the following types of investment securities and money market instruments: a) Agency Discount Notes b) Agency Callable Securities c) Agency Callable Step-up Securities d) Treasury Bills/Notes e) Commercial Paper f) Cash Accounts e.g., Passbook Accounts g) CD's h) Money Markets i) Equities j) Repurchase agreement k) Support for other Investment Types as needed 2. The City desires to have the following minimum program features in the proposed Solution: a) No limits on the number of portfolios the program can maintain b) No limits to the number of databases available c) A minimum of 9,999,999 individual security transactions; security types must be pre-defined by [Insert Entity Name] Page 7 of 28 Page 87 of 645 d) Provide the following accretion/amortization options: • Straight line • Straight line from purchase until maturity • Straight line, using 30-day month over 360-day year • Scientific, using actual days over 365-day year (366 for leap years) • Scientific, using 30-day month over 360-day year • Scientific, daily iteration method, using actual days over 365- day year (366 for leap years) • Scientific, daily iteration method, using 30-day months over 360-day year • Amortization, if necessary, at maturity only • Amortization calculation on original issue discount using 30- day months over a 360-day year • Constant yield calculation on amortization date for short term, discount, non-coupon bearing, fixed income, securities using actual number of days over a 360-day year • Constant yield calculation actual days over 365-day year • Constant yield calculation 30-day months over 360-day year • Constant yield calculation interpolation between coupon dates, actual days over 365-day year • Constant yield calculation interpolation between coupon dates, 30-day months over 360-day year • Cash Basis Accounting • Rule of 78 method (sum of the day's digits) The proposed Software, at a minimum must be capable to provide, track, and report on the following: • Accretion/amortization for the month, and for the year, to date • A current book or amortized value • Accrued interest for the month, for the coupon period • Bond equivalent yields to maturity • Weighted average maturity • Weighted average yield • Unrealized gains and losses • Call date • Capability to generate system confirmation letters for trade settlement • Investment pools and money market funds • Broker/dealer information • Assign diversification percentages by investment type, maturity, rating, CUSIP, dealer, other Page 8 of 28 Page 88 of 645 • Investment transaction history (i.e. purchase, sales, calls) • Capable of providing Buy and Sell scenario analysis • Provide performance benchmark measurement capability • Maturity schedule by CUSIP number (identifies most financial instruments), maturity and purchase date • Provide sample report of cash flow modeling and forecasting 3. The City desires Software that has automated process to upload market prices. Charges for any 3rd party market pricing services should be included in the cost of the Proposal. The City prefers not to enter into agreements with third party pricing services. In addition, the software should have the following market pricing capabilities: e) Market-pricing module available on a CUSIP number basis f) Market prices for each security type g) Price commercial paper h) Market values must be saved for historical reporting purpose for previous years i) A description of any limitations to pricing systems 4. The City is seeking robust reporting capabilities in the proposed Software. Reports must be exportable into Excel for further analysis and provide the ability for end users to create custom reports. At minimum the proposed Software must have the following capabilities: j) Allow for reports to be sorted by type of investment, by fund, by CUSIP, and other formats k) Description of the procedure for requesting a new report I) Description of the procedure for running a report m) Description of the process to create and design a custom report; how many fields are included and how will future reports be assessed n) Merge portfolios for consolidated reporting purposes o) Produce charts and graphs p) Run historical reports (i.e. an inventory report that includes market values for previous years) q) Run reports based on participating indicators for GASB 31, 40, 72 and any future statements of the Governmental Accounting Standards Board (GASB). 3.0 COMMUNITY BACKGROUND The City of Dubuque is located on the Mississippi River in northeastern lowa, adjacent to Illinois and Wisconsin. The City is approximately 30 square miles in area, with a population of approximately 60,000 people. The City's annual operating Page 9 of 28 Page 89 of 645 and capital budget is over$200 million and funds a full range of services. The City's web site is www.cityofdubuque.org. The community has a stable and diversified manufacturing base and a growing service sector. Dubuque is the major retail, medical, education and employment center for the tri- state area. Tourism continues to be a major economic force in the community. City government works in collaboration with the private sector to promote economic development. The job creation and unemployment numbers show that Dubuque is growing steadily in the current economic climate. Dubuque's construction numbers reveal an even more encouraging picture. The City has formed strong relationships with the local business community to promote continued economic growth and success. 4.0 USE OF CITY RESOURCES 4.1 Requesting Use of City Resources for Preparation of the RFP Response All information requests shall be directed to the City's Purchasing and Contracts Coordinator as detailed in Section 6.0 of this RFP. All vendors should note that directly contacting other City of Dubuque staff or any of the selection committee members shall be considered inappropriate and grounds for disqualification. 5.0 INFORMATION TO BE INCLUDED IN THE PROPOSAL The proposal must contain specific responses to each of the following requests and must follow substantially the outline presented below. Vendors are encouraged to respond fully to each inquiry and to be as concise as possible. Vendors must submit the response to each item on a separate page, with the item reproduced at the top of the first page of the response. To simplify the review process and to obtain the maximum degree of comparability, the proposal shall include the following information and shall be organized in the order and manner specified below. While additional data may be presented, the following sections must be included in the proposal response. These sections represent the minimum criteria against which the proposal will be evaluated. A. Institution Description Describe the background and ownership of the vendor. Describe any material changes in organization structure or ownership that have occurred in the past five years. • Year vendor was formed • Vendor's ownership structure. Indicate all entities that have an ownership stake in the firm (name and percentage) Page 10 of 28 Page 90 of 645 • Affiliated companies or joint ventures • Recent or planned changes to the ownership or organization structure • Vendor's headquarters location • Location(s) where services to City of Dubuque will be performed B. Customer Support/Service • Will you dedicate a service representative to this account? If yes, please explain the person's tenure in your company and his/her experience managing projects similar to those explained in this RFP. • How does your customer service structure support notifications of system issues, resolving issues, etc.? C. Professional Experience • How many people does your company employ? • What is the average level of experience for your staff? What is the industry experience of your managers? What certifications do they hold? • What other clients do you have in lowa, Illinois, and Wisconsin? • Will you use a third-party for any work or otherwise partner with other service providers? If yes, please list the subcontractor(s) and what work the subcontractor(s) will be responsible for. D. Processes/Infrastructure • What processes or process improvement initiatives do you have in place to continuously improve and increase quality, improve timeliness, and reduce cost? • How much have you invested in new technology over the past three years and what is your business strategy regarding continuous evaluation and implementation of new technologies? • Describe the quality control procedures that you have in place. • Describe your disaster recovery procedures that are in place in the event of a shutdown or a lapse in service for any reason. Include descriptions of your onsite problem prevention and maintenance programs, location and capacity of back-up facilities, equipment and capabilities used in backup facilities, and logistics of the disaster recovery. E. Fee Schedule Each proposal must contain a statement of fees and estimated expenses to Page 11 of 28 Page 91 of 645 provide the services described herein, with the payment of such fees and expenses contingent on the successful implementation of Investment and Debt Management Software. Please complete the attached "Fee Proposal" form. The statement of fees and expenses should include any additional charges you propose to charge in connection with the services described herein and the quality control process that will be used throughout the project. F. Certificate of Insurance The vendor shall provide a statement indicating that it is able to meet the City's insurance requirements. See attached Insurance Schedule G—Appendix A. Submittal of insurance documents as part of this RFP is not required. 6.0 PROPOSAL QUESTIONS AND ANSWERS If you have any questions concerning this RFP, please submit your requests to the City of Dubuque Chief Financial Officer. The City has made considerable efforts to ensure an accurate representation of information in this RFP. Each vendor is urged to conduct its own investigations into the material facts provided. No answers given in response to questions submitted shall be binding upon the City of Dubuque unless released in writing (letter or email) as an officially numbered and titled addendum to the RFP by the City of Dubuque. Any questions concerning this RFP must be received before 2:00 p.m. CDT on October 27, 2024. Any inquiries received after that date will not be answered. When submitting a question to the City of Dubuque Chief Financial Officer, please include the appropriate contact information. From the date of issuance of this RFP until final City of Dubuque action, a vendor shall not discuss the RFP with or contact any other City of Dubuque staff or any of the Selection Committee members except as expressly authorized by the City of Dubuque Chief Financial Officer identified in this Section 6.0. Violation of this prohibition will be considered a violation of the rules and be grounds for disqualification of the vendor's proposal. City of Dubuque Chief Financial Officer Contact information is as follows: Jenny Larson Phone: 563.589.4322 Office Chief Financial Officer Page 12 of 28 Page 92 of 645 City of Dubuque E-mail: jlarson cityofdubuque.org Finance Department 50 West 13t" St Dubuque, IA 52001 7.0 EVALUATION OF PROPOSALS An Evaluation Committee (the "Committee") has been established to evaluate and score proposals received and to select the successful vendor(s). The Committee is composed of City of Dubuque staff. EVALUATION CRITERIA Proposals will be evaluated using the following criteria: 1. Experience/General Capabilities 20% 2. Customer Service/Support 20% 3. Software Capabilities/Compliance 20% 4. Usability/Ease of Use/Accessibility/Collaboration 20% 5. Cost Proposal 20% 8.0 SUBMISSION REQUIREMENTS Before submitting a proposal, each vendor shall make all investigations and examinations necessary to ascertain requirements affecting the full performance of the contract and to verify any representations made by the City of Dubuque upon which the vendor will rely. PROPOSAL SUBMITTAL INFORMATION • Submittal Deadline: October 4, 2024, before 2:00 p.m. (Local Time) • Mailing Address: Jenny Larson Finance Department City of Dubuque — City Hall 50 W. 13th Street Dubuque, lowa 52001 • Submittals: Vendor: One electronic (.pdf) copy shall be provided to https://cityofdubuque.sharefile.com/r- r28e8cc4444b48228 Page 13 of 28 Page 93 of 645 • The submitted proposal shall be signed and labeled Investment and Debt Management Software • An electronic PDF copy must be submitted to https://cityofdubuque.sharefile.com/r-r28e8cc4444b48228. No faxed proposals will be accepted. • The proposal document must be signed in blue ink by an officer of the vendor who is authorized to legally bind the vendor. • Proposals are to contain a statement indicating the period during which the proposal will remain valid. A period of not less than ninety (90) calendar days from the proposal closing date is required. Each vendor assumes full responsibility for delivery and receipt of the completed proposal package on or before the deadline. Any proposals received after the submittal deadline will not be considered. The City of Dubuque is not liable for any cost incurred by any vendor prior to the execution of an agreement or contract. Nor shall the City of Dubuque be liable for any costs incurred by vendors in responding to this RFP and those not specified in any contract. All results from this request for proposals review process and project will remain the property of the City of Dubuque. Evaluation and selection of a vendor will be based on information submitted in the proposal, interviews, oral presentations, if necessary, references, and supplemental information. Failure to respond to each requirement in the RFP may be a basis for rejecting a response. Thank you for your consideration and interest in the project. Sincerely, �" `� � Jenny Larson Chief Financial Officer Finance Department City of Dubuque Page 14 of 28 Page 94 of 645 THE CITY OF DuB E Investment and Debt Management Software CItJ/ Of�UbUC�U@, �OWa Masterpiece on tlle Mississippi Investment and Debt Management Software Fee Proposal September 4, 2024 Fee Proposal Category Cost Investment Management Software Annual Maintenance Fees Investment Management Software Implementation Debt Management Software Annual Maintenance Fees Debt Management Software Im lementation Other Fees (i): (i) Describe: Name of Vendor: Authorized Representative: Title: Date: Page 15 of 28 Page 95 of 645 THL CITY OP DuB E Investment and Debt Management Software Mnst��te`�"tt t�1�M'SGisGt�pi City of Dubuque, lowa Investment and Debt Management Software September 4, 2024 Appendix A Insurance Requirements Page 16 of 28 Page 96 of 645 INSURANCE SCHEDULE G 1. shall furnish a signed certificate of insurance to the City of Dubuque, lowa for the coverage required in Exhibit I prior to the contract commencement. Each certificate shall be prepared on the most current ACORD form approved by the lowa Insurance Division or an equivalent. Each certificate shall include a statement under Description of Operations as to why the certificate was issued. Eg: Project # or purchase agreement 2. All policies of insurance required hereunder shall be with an insurer authorized to do business in lowa and all insurers shall have a rating of A or better in the current A.M. Best's Rating Guide. 3. Each certificate shall be furnished to the Finance Department of the City of Dubuque. 4. The service provider shall be required to carry the minimum coverage/limits, or greater if required by law or other legal agreement, in Exhibit I. Failure to provide the required minimum coverage shall not be deemed a waiver of such requirements by the City of Dubuque. 5. Failure to obtain or maintain the required insurance shall be considered a material breach of this agreement. 6. All required endorsements shall be attached to certificate. 7. Whenever a specific ISO form is referenced the current edition of the form must be used unless an equivalent form is approved by the Director of Finance and Budget. The service provider must identify or list in writing all deviations and exclusions from the ISO form. 8. If vendor's limits of liability are higher than the required minimum limits then the vendor's limits shall be this agreemenYs required limits. 9. Vendor shall require all subcontractors and sub-subcontractors to obtain and maintain during the performance of work insurance for the coverages described in this Insurance Schedule and shall obtain certificates of insurance from all such subcontractors and sub-subcontractors. Vendor agrees that it shall be liable for the failure of a subcontractor and sub-subcontractor to obtain and maintain such coverage. The City may request a copy of such certificates from the Vendor. 10. Vendor shall be responsible for deductibles/self-insured retention for payment of all policy premiums and other costs associated with the insurance policies required below. 11. All certificates of insurance must include agents name, phone number, and email address. 12. The City of Dubuque reserves the right to require complete, certified copies of all required insurance policies, including endorsements, required by this Schedule at any time. 13. The City of Dubuque reserves the right to modify these requirements, including limits, based on changes in the risk or other special circumstances during the term of the agreement, subject to mutual agreement of the parties. Page 17 of 28 Page 97 of 645 INSURANCE SCHEDULE G (continued) EXHIBIT I A) COMMERCIAL GENERAL LIABILITY General Aggregate Limit $2,000,000 Products-Completed Operations Aggregate Limit $1,000,000 Personal and Advertising Injury Limit $1,000,000 Each Occurrence $1,000,000 Fire Damage Limit (any one occurrence) $50,000 Medical Payments $5,000 1) Coverage shall be written on an occurrence, not claims made, form. The general liability coverage shall be written in accord with ISO form CG 00 01 or business owners form BP 00 02. All deviations from the standard ISO commercial general liability form CG 00 01, or Business owners form BP 00 02, shall be clearly identified. 2) Include ISO endorsement form CG 25 04 "Designated Location(s) General Aggregate Limit." 3) Include endorsement indicating that coverage is primary and non-contributory. 4) Include Preservation of Governmental Immunities Endorsement (Sample attached). 5) Include additional insured endorsement for: The City of Dubuque, including all its elected and appointed officials, all its employees and volunteers, all its boards, commissions and/or authorities and their board members, employees and volunteers. Use ISO form CG 20 10 (Ongoing operations) or its equivalent. 6) Policy shall include Waiver of Right to Recover from Others endorsement. B) WORKERS' COMPENSATION 8� EMPLOYERS LIABILITY Statutory Benefits covering all employees injured on the job by accident or disease as prescribed by lowa Code Chapter 85. Coverage A Statutory—State of lowa Coverage B Employers Liability Each Accident $100,000 Each Employee-Disease $100,000 Policy Limit-Disease $500,000 Policy shall include Waiver of Right to Recover from Others endorsement. Coverage B limits shall be greater if required by the umbrella/excess insurer. OR If, by lowa Code Section 85.1A, the Vendor is not required to purchase Workers' Compensation Insurance, the Contractor shall have a copy of the State's Nonelection of Workers' Compensation or Employers' Liability Coverage form on file with the lowa Workers' Compensation Insurance Commissioner, as required by lowa Code Section 87.22. Completed form must be attached. Page 18 of 28 Page 98 of 645 INSURANCE SCHEDULE G (continued) C) POLLUTION LIABILITY Coverage required: _Yes _X_No Pollution liability coverage shall be required if the lessee, contracting party, or permittee has any pollution exposure for abatement of hazardous or contaminated materials including, but not limited to, petroleum products, the removal of lead, asbestos, or PCBs. Pollution product and completed operations coverage shall also be covered. Each Occurrence $2,000,000 Policy Aggregate $4,000,000 1) Policy to include job site and transportation coverage. 2) Include additional insured for: The City of Dubuque, including all its elected and appointed officials, all its employees and volunteers, all its boards, commissions and/or authorities and their board members, employees and volunteers. Use ISO form CG 20 10. (Ongoing operations) or its equivalent and CG 20 37(competed operations). 3) Include Preservation of Governmental Immunities Endorsement. 4) Provide evidence of coverage for 5 years after completion of project. D) PROFESSIONAL LIABILITY $1,000,000 Coverage required: _X_Yes _No If the required policy provides claims-made coverage: 1) The Retroactive Date must be shown and must be before the date of the agreement. 2) Insurance must be maintained and evidence of insurance must be provided for at least five (5)years after completion of the work or services. 3) If coverage is canceled or non-renewed and not replaced with another claims-made policy form with a Retroactive Date prior to the date of the agreement, the contractor must provide "extended reporting" coverage for a minimum of five (5)years after completion of the work or services. E) CYBER LIABILITY/BREACH $1,000,000 Coverage required: _X_Yes _No Coverage for First and Third Party liability including but not limited to lost data and restoration, loss of income and cyber breach of information. F) UMBRELLA/EXCESS $1,000,000 Coverage required: _X_Yes _No The General Liability, Automobile Liability and Workers Compensation Insurance requirements may be satisfied with a combination of primary and Umbrella or Excess Liability Insurance. If the Umbrella or Excess Insurance policy does not follow the form of the primary policies, it shall include the same endorsements as required of the primary policies including Waiver of Subrogation and Primary and Non-contributory in favor of the City. Page 19 of 28 Page 99 of 645 PRESERVATION OF GOVERNMENTAL IMMUNITIES ENDORSEMENT 1. Nonwaiver of Governmental Immunity. The insurer expressly agrees and states that the purchase of this policy and the including of the City of Dubuque, lowa as an Additional Insured does not waive any of the defenses of governmental immunity available to the City of Dubuque, lowa under Code of lowa Section 670.4 as it is now exists and as it may be amended from time to time. 2. Claims Coveraqe. The insurer further agrees that this policy of insurance shall cover only those claims not subject to the defense of governmental immunity under the Code of lowa Section 670.4 as it now exists and as it may be amended from time to time. Those claims not subject to Code of lowa Section 670.4 shall be covered by the terms and conditions of this insurance policy. 3. Assertion of Government Immunity. The City of Dubuque, lowa shall be responsible for asserting any defense of governmental immunity, and may do so at any time and shall do so upon the timely written request of the insurer. 4. Non-Denial of Coveraqe. The insurer shall not deny coverage under this policy and the insurer shall not deny any of the rights and benefits accruing to the City of Dubuque, lowa under this policy for reasons of governmental immunity unless and until a court of competent jurisdiction has ruled in favor of the defense(s) of governmental immunity asserted by the City of Dubuque, lowa. No Other Chanqe in Policv. The above preservation of governmental immunities shall not otherwise change or alter the coverage available under the policy. Page 20 of 28 Page 100 of 645 TH E CITY OF DuB E Investment and Debt Management Software M�z�f�,�F�l��°,1 t'1�M«�«�I�� City of Dubuque, lowa Investment and Debt Management Software September 4, 2024 Appendix B City of Dubuque Standard Terms and Conditions Page 21 of 28 Page 101 of 645 STANDARD TERMS AND CONDITIONS ACCELERATED PAY DISCOUNTS - Accelerated discounts should be so stated on the bid submittal page. If quick pay discounts are offered, the City reserves the right to include that discount as part of the award criteria. Prices must, however, be based upon payment in net thirty (30) days after receipt, inspection and acceptance. In all cases, quick pay discounts will be calculated from the date of the invoice or the date of acceptance, whichever is later. ADA COMPLIANCE 1. The Vendor shall comply with all applicable provisions of the Americans with Disabilities Act (Public Law 101-336, 42 U.S.C. 12101 et seq.) and applicable Federal regulations under the Act. 2. Bids for design, construction, programs, policies and concessions of any type shall comply with the 2010 Standards for Accessible Design, the ADA title II regulation, Section 504 of the 1973 Rehabilitation Act, and similar statutes and regulations prohibiting discrimination on the basis of disability. 3. The Vendor shall ensure that its websites and all online services, including those websites or online services provided by third parties upon which Dubuque relies to provide services or content, comply with, at minimum, Web Content Accessibility Guidelines - WCAG 2.0 AA. ASSIGNMENT - The City and the Vendor each are hereby bound and the partners, successors, executors, administrators and legal representatives of the City and the Vendor are hereby bound to the other party to the Contract and to the partners, successors, executors, administrators and legal representatives (and said assigns) of such other party, in respect of all covenants, agreements and obligations of the Contract. Any assignment or attempt at assignment made without prior written consent of the City shall be void. BID CURRENCY/LANGUAGE - All bid prices shall be shown in US Dollars ($). All prices must remain firm for the duration of the Contract regardless of the exchange rate. All bid responses must be submitted in English. BID FORM - Each bidder must submit an original bid and additional copies as required on the forms attached. The bidder shall correctly sign the bid, and the bid may be rejected if it shows any omissions, alterations of the form, additions not called for in the bid, or any irregularities of any kind. In case of a discrepancy between the unit price and the extended price, the unit price shall prevail. BID INFORMATION IS PUBLIC—The bid and all documents submitted with any bid shall become public documents subject to lowa Code Chapter 22, which is otherwise known as the "lowa Open Records Law". By submitting the bid any document to the City of Dubuque in connection with a bid, the submitting party recognizes this and waives any claim against the City of Dubuque and any of its officers and employees relating to the release of any document or information submitted. Each submitting party shall hold the City of Dubuque and its officers and employees harmless from any claims arising from the release of any document or information made available to the City of Dubuque arising from any opportunity. Bid information requested by the public or other bidders will be provided in an alternative format if the requestor is a person with a disability and requires an alternative form for comprehension. Page 22 of 28 Page 102 of 645 BID REJECTION OR PARTIAL ACCEPTANCE - The City reserves the right to accept or reject any or all bids or parts thereof. The City further reserves the right to waive technicalities and formalities in bids, as well as to accept in whole or in part such bids where it is deemed advisable in protection of the best interests of the City. CONFLICT OF INTEREST -The Vendor represents, warrants, and covenants that no relationship exists or will exist during the Contract period between the Vendor and the City that is a conflict of interest. No employee, officer or agent of the Vendor shall participate in the selection or in the award if a conflict of interest, real or apparent, exists. The provisions of lowa Code ch. 68B shall apply to the Contract. If a conflict of interest is proven to the City, the City may terminate the Contract, and Vendor shall be liable for any excess costs to the City as a result of the conflict of interest. The Vendor shall establish safeguards to prevent employees, consultants, or members of governing bodies from using their positions for purposes that are, or give the appearance of being, motivated by the desire for private gain for themselves or others with whom they have family, business, or other ties. The Vendor shall report any potential, real, or apparent conflict of interest to the City. CONTRACT DOCUMENTS — The Contract Documents are this Request for Proposals, the Contract, the Vendor's Proposal, and the following additional documents, if any: In the event of a dispute with respect to any term or condition in the Contract Documents, they shall be interpreted in the following order: this Request for Proposals, the Contract, the Vendor's Proposal, and the following additional documents, if any: DISPUTES - Should any disputes arise with respect to the Contract, the Parties agree to act immediately to resolve such disputes. Time is of the essence in the resolution of disputes. The Vendor agrees that, the existence of a dispute notwithstanding, it will continue without delay to carry out all of its responsibilities under the Contract that are not affected by the dispute and the City shall continue to make payment for all Work properly performed. Should the Vendor fail to continue to perform its responsibilities regarding all non-disputed work, without delay, any additional costs incurred by the City or the Vendor as a result of such failure to proceed shall be borne by the Vendor. The unintentional delayed payment by the City to the Vendor of one or more invoices not in dispute in accordance with the terms of the Contract will not be cause for Vendor to stop or delay Work. Force Maieure. A party shall be excused from its obligations under this Agreement if and to the extent and during such time as the party is prevented, impeded, or hindered, unable to perform its obligations or is delayed in doing so due to events or conditions outside of the party's reasonable control and after the party has taken reasonable steps to avoid or mitigate such event or its consequences (each a "Force Majeure Event") including, without limitation in any way, as the result of any acts of God, war, fire, or other casualty, riot, civil unrest, extreme weather conditions, terrorism, strikes and/or labor disputes, pandemic, epidemic, quarantines, government stay-at-home orders, municipal and other government orders, failure of Internet, or other matter beyond the control of such party. Upon the occurrence of a Force Majeure Event, the party incurring such Force Majeure Event will promptly give notice to the other party identifying the Force Majeure Event, explaining how it impacts perFormance and the estimated duration, identifying the relief requested, agreeing to limit damages to the other party and to immediately resume perFormance upon termination of the Force Majeure Event, and agreeing to supplement Page 23 of 28 Page 103 of 645 the notice as more information becomes available, and thereafter the parties shall meet and confer in good faith in order to identify a cure of the condition affecting its performance as expeditiously as possible. No obligation to make a payment required by this Agreement is excused by a Force Majeure Event. The nonperforming party shall not be entitled to any damages or additional payments of any kind for any such delay. INDEMNIFICATION - To the fullest extent permitted by law, the Vendor shall indemnify and hold harmless the City, its officers and employees, from and against all claims, damages, losses and expenses, including but not limited to attorneys' fees, arising out of or resulting from performance of the Contract, provided that such claim, damages, loss or expense is attributable to bodily injury, sickness, disease or death, or injury to or destruction of property, including loss of use resulting therefrom, but only to the extent caused in whole or in part by negligent acts or omissions of the Vendor, or anyone directly or indirectly employed by the Vendor or anyone for whose acts the Vendor may be liable, regardless of whether or not such claim, damage, loss or expense is caused in part by a party indemnified hereunder. LAWS AND REGULATIONS - The Contract shall be governed, interpreted and enforced in accordance with all applicable federal, State of lowa, and local laws, ordinances, licenses and regulations and shall apply to the Contract throughout, as the case may be. The Vendor certifies that in performing the Contract it will comply with all applicable provisions of the federal, state, and local laws, ordinances, licenses and regulations. Venue for any action arising out of this Contract shall be the lowa District Court for Dubuque County, lowa. METHOD OF AWARDING - The City reserves the right to make awards based on the entire bid or on an item by item basis. However, if Vendor's bid is based on an "all or none" condition, the City may consider its bid non-responsive and reject the entire bid. NO GIFT STANDARD - The City of Dubuque is committed to upholding the highest ethical standards in all of its business practices. This standard recognizes the need to avoid even the perception of improper gifts or favors to employees. Therefore, all suppliers have been asked to abide by the City's "No Gift" standard. The "No Gift" standard also applies to all offers of discounts or free items at any place of business targeted toward a City employee and not available to the general public, regardless of the value. NON-COLLUSION STATEMENT - Neither the Vendor, nor anyone in the employment of the Vendor, has employed any person to solicit or procure the Contract nor will the Vendor make any payment or agreement for payment of any compensation in connection with the Contract. There is no contract, agreement or arrangement, either oral or written, expressed or implied, contemplating any division of compensation for Work rendered under the Contract or participation therein, directly or indirectly, by any other person, firm or corporation, except as documented in the Contract. Neither the Vendor, nor anyone in the employment of the Vendor, has either directly or indirectly entered into any agreement, participated in any collusion or otherwise taken any action in restraint of free competitive procurement in connection with the Contract. NON-DISCRIMINATION AND EQUAL OPPORTUNITY - All Vendors that engage in contracts with the City of Dubuque, lowa agree as follows: The Vendor will not discriminate against any employee or applicant for employment because of race, sex, color, creed, ancestry, national origin, marital status, Familial status, religion, age, disability, sexual orientation, gender identity, genetic information, status with regard to public assistance, status as a veteran or any Page 24 of 28 Page 104 of 645 classification protected by federal, state, or local law, (Protected Classes) except where age and sex are essential bona fide occupational requirements, or where disability is a bona fide occupational disqualification. Such action shall include, but not be limited to the following; (a) Employment, (b) Upgrading, (c) Demotion or transfer, (d) Recruitment and advertising, (e) Layoff or termination, (f) Rate of pay or other forms of compensation, and (g) Selection for training, including apprenticeship. The Vendor further assures that managers and employees comply with both the spirit and intent of federal, state, and local legislation, government regulation, and executive orders in providing affirmative action as well as equal opportunity without regard to the protected classes, as stated above. The Vendor will include, or incorporate by reference, the provisions of the nondiscrimination clause in every contract or subcontract unless exempt by the rules, regulations or orders of the City and will provide in every contract or subcontract that said provision will be binding upon each Vendor. REGULATORY AGENCY COMPLIANCE - Compliance with laws and regulations set forth by regulatory agencies is required. These agencies include, but are not limited to, OSHA — Occupational Safety & Health Agency, EPA — Environmental Protection Agency, ICC — Interstate Commerce Commission, DNR — Department of Natural Resources, and DOT — Department of Transportation. The City of Dubuque expects that Vendors will offer expertise on conformance of regulations applying to the products they sell and the Work they perform. RIGHT TO PROTEST - Anyone wishing to file a protest concerning (1) the specifications, (2) the bid procedure or (3) the award of the Contract must do so in writing in accordance with the City's Protest by bidders which is found in the City's purchasing policy SAFETY DATA SHEETS - The Hazard Communication Standard (HCS) requires chemical manufacturers, distributors, and importers to ensure that each container of hazardous chemicals leaving the workplace is labeled, tagged, or marked and to provide Safety Data Sheets (SDS) to communicate the hazards of hazardous chemical products. It is the chemical supplier's responsibility to determine which products are covered and to provide SDS with the initial shipment. It is also the chemical supplier's responsibility to provide any updated or revised SDS, as they become available for any products sold and delivered to the City of Dubuque. City of Dubuque employees shall not accept a shipment of any chemical that does not have a SDS attached or currently on file. Safety Data Sheets shall be available in alternative formats if the requestor is a person with a disability and requires an alternative format for comprehension. SUBCONTRACTING - All Sub Vendors shall be listed in the Contract or in a written amendment to the Contract. SUSPENSIONS AND DEBARMENT - The Vendor hereby certifies, pursuant to 2 CFR pt. 180 and 2 CFR pt. 3000, that neither it nor its principles are presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in the Contract by any federal agency. The Vendor further certifies that it is not presently debarred, suspended, Page 25 of 28 Page 105 of 645 proposed for debarment, declared ineligible, or voluntarily excluded from participation in any contracts with the City of Dubuque or the State of lowa. TAXES -The City of Dubuque is exempt from sales tax and certain other use taxes. Any charges for taxes from which the City is exempt will be deducted from invoices before payment is made. TERMINATION OF CONTRACT -The City may terminate the Contract at any time for any reason with or without cause. In that event, all finished or unfinished Work, reports, materials(s) prepared or furnished by the Vendor under the Contract shall, at the option of the City, become its property. If the Contract is terminated by the City as provided herein, the Vendor shall be paid for all Work which has been authorized, provided, and approved up to the effective date of termination. The City will not be subject to any termination fees from the Vendor. WARRANTIES -WORK - The Vendor shall perform Work for the City pertaining to the Project as set forth in the Contract. Vendor represents that the Work and all of its components shall be free of defects; shall be perFormed in a manner consistent with other Vendors in a similar industry and application; and shall conform to the requirements of the Contract. Vendor shall be responsible for the quality, technical accuracy, completeness and coordination of all Work performed under the Contract. Vendor shall, promptly and without charge, provide all corrective Work necessary as a result of Vendor's acts, errors, or omissions with respect to the quality and accuracy of the Work. Vendor shall be responsible for any and all damages to property or persons as a result of Vendor's acts, errors, or omissions, and for any losses or costs to repair or remedy any Work undertaken by City based upon the Work as a result of any such acts, errors, or omissions. Vendor's obligations shall exist without regard to, and shall not be construed to be waived by, the availability or unavailability of any insurance, either of City or Vendor. WARRANTIES - INTELLECTUAL PROPERTY - Vendor represents and warrants that all the materials and Work produced, or provided to the City pursuant to the terms of the Contract shall be wholly original with the Vendor or that the Vendor has secured all applicable interests, rights, licenses, permits or other intellectual property rights in such materials and work. The Vendor represents and warrants that the materials and Work, and the City's use of same, and the exercise by the City of the rights granted by the Contract shall not infringe upon any other work or violate the rights of publicity or privacy of, or constitute a libel or slander against, any person, firm, or corporation. The Vendor further represents and warrants that the materials and Works does not infringe upon the copyright, trademark, trade name, trade dress patent, statutory, common law or any other rights of any person, firm or corporation or other entity. The Vendor represents and warrants that it is the owner of or otherwise has the right to use and distribute the Work contemplated by the Contract. Page 26 of 28 Page 106 of 645 THE CITY OF DUB E Investment and Debt Management Software M�z�t�r��e°n ty��Miss�s��p�r City of Dubuque, lowa Investment and Debt Management Software September 4, 2024 Appendix C City of Dubuque Data Sharing Agreement Page 27 of 28 Page 107 of 645 City of Dubuque Data Sharing Agreement AGREEMENT made this day of 2024, between the City of Dubuque (hereafter referred to as City of Dubuque),and the(hereafter referred to as Vendor). Background 1.The City of Dubuque is a participating agency and,therefore, must comply with the State of lowa Enterprise Data Stewardship Security Standard. In addition,City of Dubuque must comply with state and federal laws pertaining to the confidentiality, use and disclosure of personal information. 2.Vendor is not participating agency for the purposes of the State of lowa Enterprise Data Stewardship Security Standard but must comply with state and federal laws pertaining to the confidentiality, use and disclosure of personal information. 3.This agreement outlines the terms, by which the City of Dubuque and Vendor will share data, including confidential and/or personally identifiable information and also provides the terms under which parties shall maintain the confidentiality of the data to be shared. Terms and Conditions 1.Purpose of the Agreement.City of Dubuque has agreed to share member's confidential, personally identifiable information and other data to fill in variable data fields with Vendor,for the limited purpose for Vendor to accomplish tasks associated with the printing of City of Dubuque forms. 2.Data SharingProcedure.City of Dubuque will provide Vendor with: • Data containing members confidential and personally identifiable information to be used to fill in variable data fields on City of Dubuque forms for printing • Data will be supplied via ShareFile(City of Dubuque ShareFile site) 3. Confidentiality oflnformation.Vendor agrees that access to the data will be restricted to authorized individuals. 4.Data Security.Vendor agrees to store the data securely. • Paper documents, DVDs,or other removable media containing data shall be stored in a locked cabinet, in a restricted area,accessible only to authorized individuals. • Workstations, laptops,or servers storing data shall be password protected using strong passwords. • Laptops containing data shall be encrypted using whole disk encryption (AES 256-bit or stronger). 5.Data Destruction.Vendor agrees that when the intended use of the data has been completed, it shall dispose of the information through the following destruction methods: • Wipe(e.g.,scrub) hard drives,or any other electronic storage media,containing data using a DoD approved destruction method. Hard drives that cannot be wiped shall be physically destroyed by shredding; • Shred hard copy data such that the resulting residue prevents any recovery of the data file content. 6.Redisclosure ofData.Vendor agrees not to redisclose the data received from City of Dubuque to a third party not covered by the agreement unless written permission by City of Dubuque is received and redisclosure is not prohibited under applicable law. 7.Data Breach.Vendor shall notify City of Dubuque—Information Services Department and all affected individuals if the data is lost,stolen or disclosed to non-authorized individuals.Vendor shall accept responsibility for any events caused by the disclosure. 8. Term.This agreement is effective on the last date signed by a party and shall remain in effect until destruction or return of the data. Name Signature and Date Name Signature and Date Page 28 of 28 Page 108 of 645 TREASU RY � �O MANAGEMENT SOLUTIONS Sym Pro Response City of Dubuque, IA RFP: Investment and Debt Management Software Due Date: October 4, 2024 . � ��r . r , • • , • , -..- �• . .� Transmittal Letter SymPro Software is the established leader in meeting the needs of Public Sector Treasury Managers—a group of users unique in terms of demands for system functionality and meeting regulatoiy requirements. The systems were designed by public entities for public entity treasury processes. We are not a corporate solution brought over into the public sector. Our experience in simplifying the treasuiy reporting ai�d accounting process is unmatched in the public sector Treasury community. Over the past 25 years, SymPro Software Solutions have become the standard for the Public Sector in treasury management reporting. We have over 400 client installations in 45 different states, with client portfolios ranging from $25 million to over $15 billion in assets. Our customers include Cities, Counties, Power Agencies, Utilities,Transportation Agencies, School Districts, and other various public sector entities. Our extensive and diverse public sector only client base provides us with the industry best practices that will help the City of Dubuque, IA meet their investment and debt portfolio reporting and accounting needs. The proposed system will enhance the City's investment and debt processes by: • Generating daily or monthly journal entries that can be exported to the ERP GL (used by other public sector entities) • Allow for comprehensive tracking of both the investment and debt portfolios • Dubuque has system access to easily edit their investment/debt positions • Iinporting of transactions ti•om Custodial Bank for automation of data entry • Public sector calculations of yields and returns • Support team with over 10 years' experience working with public sector entities • Implemented over 20 solutions in the past 3 years similar to the one requested by the City. We thank the City of Dubuque for this opportunity to respond to their RFP for Investment& Debt Management Software System. Our proposal is valid for 90 days and is based on our understanding of your renuirements as outlined in the RFP. Respectfully Submitted, � P e a vari SymPro Software General Manager SymPro Investment&Debt Solution Proprietary and Confidential Z Page 110 of 645 Table of Contents A. INSTITUTION DESCRIPTION......................................................................................................................4 B. CUSTOMERSUPPORT/SERVICE................................................................................................................5 C. PROFESSIONAL EXPERIENCE ....................................................................................................................7 D. PROCESSES/INFRASTRUCTURE.................................................................................................................8 E. FEE SCHEDULE........................................................................................................................................ 10 F. CERTIFICATE OF INSURANCE.................................................................................................................. 12 2.1 SCOPE OF SERVICES..................................................................................................................................... 13 SymPro Investment Et Debt Solution Proprietary and Confidential 3 Page 111 of 645 A. Institution Description Describe the background and ownership of the vendor. Describe any material changes in organization structure or ownership that have occurred in the past five years. • Year vendor was formed SymPro has been providing financial solutions to the public sector since 1985. • Vendor's ownership structure. Indicate all entities that have an ownership stake in the firm (name and percentage) SymPro is a wholly owned subsidiary of Constellation Software Inc., a publicly traded company providingvertical market software solutions. • Affiliatedcompaniesorjointventures None • Recent or planned changes to the ownership or organization structure No planned changes. SymPro has been part of Constellation since 2007. • Vendor's headquarters location The SymPro headquarters are in Lafayette, CA. • Location(s)where services to City of Dubuque will be performed The City of Dubuque will be serviced from the SymPro headquarters and supported by various offices within the U.S. SymPro Investment Et Debt Solution Proprietary and Confidential 4 Page 112 of 645 B. CustomerSupport/Service • Willyou dedicate a service representative to this account?If yes, please explain the person's tenure in your company and his/her experience managing projects similar to those explained in this RFP. Your dedicated support team will be led by Carlton Young,who has been supporting public sector entities that are very similar to the City of Dubuque for over 20 years. Carlton and his team have implemented SymPro solutions for over 100 public sector entities. He will be the lead and backed up by other support consultants with an average tenure of 10+years. • How does your customer service structure support notifications of system issues, resolving issues,etc.? Our Support and Maintenance Plan is available on an annual basis for the installed modules purchased. Services provided include: • Priority service from technical support representatives • Access to all SymPro upgrades released within the year • SymPro Users'Web Trainings Tele-consultation SymPro provides unlimited telephone support in the following areas: • Accessing your SymPro system • Operational quesrions on the software, including questions regarding standard SymPro reports Tele-consultation is provided during normal business hours (8:OOAM TO 5:OOPM - CS'I� Monday through Friday for questions dealing with the operations of the Licensed Software. Support issues may be reported via telephone,voicemai124 hours a day, or e-mail. Most support issues are received and resolved via phone or email. Critical software errors ("bugs") are treated with the highest priority by Emphasys developers. Patches for critical software errors are sent to the users currently using the affected version. New releases go through an alpha, beta test, then a limited release before they are made available to the entire user base. Software errors are reported to Emphasys via e-mail,website and phone. Software errors are then logged into a tracking system and categorized by critical level. A client call tracking system is used to log support calls. Calls are listed as (1) general information inquiries, (2) Issues that do not affect general operations, (3) Issues that are affecting general operations, and (4) Issues that have halted general operations. Issues are given priority depending on their severity, but clients usually get a response the same day. SymPro Investment Et Debt Solution Proprietary and Confidential 5 Page 113 of 645 Severity Description Response Duration Level Time Time to 1 Business Issues that have halted general respond is Day>90% Critical 1 —2 operations, client is down. business hours Issues that affect general Time to 2-3 Business operations and there is not an respond is Days >90% High acceptable workaround. Client � 2 is operational. business days Issues that do not affect Time to 1-2 Weeks Low general operations and there 1es3ond is >80% may be an acceptable business workaround. days l�or gcncral information inquirics, responscs could takc up to 24 hours to rcccivc an ans��cr, depending on call volume. The product support team has initial access to this information, and they can pass the information along to sales, marketing, or corporate management if necessary. SymPro Investment Et Debt Solution Proprietary and Confidential 6 Page 114 of 645 C. Professional Experience • How many people does your company employ? There are over 30 people supporting the SymPro product line. • What is the average level of experience for your staff?What is the industry experience of your managers?What certifications do they hold? The team that would be assigned to this project has implemented over 20 solutions in the past three years to public sector entities similar to the city of Dubuque.The average tenure of the team is over 10 years working with public sector agencies.They have a strong understanding and knowledge of public sector treasury environments and processes that entities similar to the City utilize. Our implementation and customer support teams are fully integrated, allowing a seamless transition between the system go-live and the ongoing support of the software.The personnel assigned to the project are very knowledgeable in public finance and accounting and will work with you on data conversion,training, and ongoing maintenance and support. Our team of software developers is also available to support the product and to assist with technical issues when necessary. • What other clients do you have in lowa, Illinois, and Wisconsin? Illinois lowa City of East Saint Louis City of Des Moines Chicago Public Schools Polk County Chicago Housing Authority lowa State University City of Batavia City of Ames DuPage County City of Cedar Rapids City of Elgin City of Sioux City Regional Transportation Authority City of St. Charles Wisconsin City of Springfield Waukeshaw County City of Aurora City of Wheaton St. Clair County Village of Roselle Lake County City of Springfield City of Aurora • Will you use a third-party for any work or otherwise partner with other service providers?If yes, please list the subcontractor(s) and what work the subcontractor(s) will be responsible for. SymPro provides all the implementation and ongoing support for the solutions. No 3rd parties are utilized.The only service provided by an outside entity is for market prices and CUSIP data.This information is provided by ICE Data Services or the client's Custodial Bank. SymPro Investment Et Debt Solution Proprietary and Confidential 7 Page 115 of 645 D. Processes/Infrastructure • What processes or process improvement initiatives do you have in place to continuously improve and increase quality, improve timeliness, and reduce cost? With over 400 clients relying on our solutions on a daily basis,we are continuously getting feedback on howto improve our solution, service, and quality. Feedback is communicated to us through our technical support team, at industry conferences, and our online training seminars. • How much have you invested in new technology over the past three years and what is your business strategy regarding continuous evaluation and implementation of new technologies? Over 30%of our yearly budget is allocated towards R&D of our products.We have been providing solutions to the public sector market for over 20 years and are committed to continuing to invest in our offerings as we continually grow our client base. Our strategy is to go directly to our client base to get input on how our solutions need to evolve and what new functionality is required.We also leverage our extended company,which is made up of other industry-leadingvertical software companies,for technologytrends, best practices, and knowledge sharing. Our extended company holds frequent technology summits, support summits, and operational seminars to enhance our businesses better. • Describe the quality control procedures that you have in place. Our solutions go through an extensive process before it is released to our user base. The process includes testing by the developer working on the project,then it moves to our QA team for additional testing.The product manager then reviews the system to ensure it works as it was scoped out, and then,finally, it is given to our operations team for final approval. If,at any stage,the system does not pass, it is reverted back to the development team, and the process begins again. • Describe your disaster recovery procedures that are in place in the event of a shutdown or a lapse in service for any reason. Include descriptions of your onsite problem prevention and maintenance programs, location and capacity of backup facilities, equipment and capabilities used in backup facilities, and logistics of the disaster recovery. Compute Our products are hosted on Azure Virtual Machines with Premium SSD v2 for all Operating System Disks and Data Disks. Microsoft Azure guarantees you will have Virtual Machine Connectivity of at least 99.9%. Full Disk Encryption is provided using Azure Disk Encryption,which utilizes BitLocker. Disk Encryption keys and secrets are managed with Azure Key Vault. Storage Data is stored in Premium SSD using Local Redundant Service (LRS)where it is constantly copied to two additional disks in the local zone.With LRS,we can achieve a 99.99%assurance of data availability. SymPro Investment Et Debt Solution Proprietary and Confidential 8 Page 116 of 645 All disks are backed up daily to Azure Service recovery vaults using Geo Redundant Services (GRS). Backups are copied synchronously three times within a primary region. Backups are also copied asynchronously to another secondary physical location. Backups are kept for 180 days. Data is encrypted using 256-bit AES encryption.This is FIPS 140-2 compliant and is one of the strongest block ciphers available. Disaster Recovery Workloads for both physical and virtual machines are replicated using Azure's site recovery. Replication is done from the primary site to a secondary location.When an outage occurs,there is an option to failover to the secondary location. Data from both disk and memory is backed up constantly and synchronously to a secondary location with a maximum latency of 30 seconds. In the event of hardware failure or data center unavailability, return to operations (RTO)within 48 hours of the declaration of the disaster. Either new hardware or an alternative data center would be provided. Monitoring Emphasys leverages Azure Monitor.Azure Monitor is a comprehensive solution that collects and analyzes data.This data can then be used to maximize performance and availability of resources and identify any problems. Using Log Analytics, Emphasys can interactively analyze and run log queries to gain various insights into data. Azure Sentinel is utilized by Emphasys to provide security information and event management. It uses built-in AI to quickly analyze large volumes of data and investigate suspicious activity. Security Emphasys uses Network Security Groups that contain security rules to control inbound and outbound networktraffic. Each rule specifies source, destination, port, and protocol. Azure Web Application Firewalls are leveraged to protect against common web- hackingtechniques such as SQL injection and securityvulnerabilities such as cross- site scripting.With this,we can have complete visibility into the environment and block malicious attacks. Emphasys protects applications usingAzure's DDoS Protection.Always-on traffic monitoring monitors traffic 24 hours a day and 7 days a week.Adaptive threat intelligence detects and mitigates DDoS attacks automatically. End-user connections are encrypted with SSL/TLS and FIPS 140-2 compliant encryption.This practice ensures adherence to data compliance policies such as PCI DSS, HIPPA, and GDPR. SymPro Investment Et Debt Solution Proprietary and Confidential 9 Page 117 of 645 E. Fee Schedule Each proposal must contain a statement of fees and estimated expenses to provide the services described herein,with the payment of such fees and expenses contingent on the successful implementation of Investment and Debt Management Software. Please complete the attached "Fee Proposal"form.The statement of fees and expenses should include any additional charges you propose to charge in connection with the services described herein and the quality control process that will be used throughout the project. SymPro Investment Et Debt Solution Proprietary and Confidential 10 Page 118 of 645 Investment and Debt Management Soffware Fee Proposal September 0�,2024 Fee Proposal Category Cost Investmenfi Management Software $24,000 Annual Maintenance Fees Investment Management Software $8�� Im lementation Debt Management Software Annual $18,000 Maintenance Fees Debt Management Software $7,Sa0 Im lementatian Other Fees (i): (i} DesCrlbe: PxQPosed solution includes the Investment and Debfi Managenaent modules, Marlcefi Pricing, GL Interface, implementatin services,and ongoing support. Name of Vendor: SymPro Software Authorized Representafiive: �'eter Sakonyvari TitIe: General Manager Date: 10/04/2024 SymPro Investment& Debt Solution Proprietary and Confidential �j Page 119 of 645 F. Certificate of Insurance The vendor shall provide a statement indicating that it is able to meet the City's insurance requirements. See attached Insurance Schedule G—AppendixA. Submittal of insurance documents as part of this RFP is not required. To the best of our understanding, SymPro can meet the insurance requirements as outlined in Schedule G. SymPro Investment Et Debt Solution Proprietary and Confidential 12 Page 120 of 645 2.1 SCOPE OF SERVICES A. The Offeror shall: 1. Develop a Business Requirements Plan/Report to detail the approach that will be used for each of the key areas. In conjunction with the City, SymPro will provide a full project plan for the solution implementation that includes a timeline and scope of work to be delivered.This project plan will be reviewed frequently to ensure the project is progressing as expected. 2. Develop a workflow plan for implementation of the software. Here is a summary of our workflow plan: - . . � o M � � C . . . . . . � � INITIATION/ DATA INSTALLATION TRAINING/ TRAINING/ FOLLOW-UP PROJECT PIANNING CONVERSION IMPLEMENTATION IMPLEMENTATION TASKS CLOSE 3. The software must have the capability for the import and export of data. Such capabilities should be within industry standards and complywith the BEST standards and practices. The SymPro solution has extensive import and export capabilities. Many of the standard reports and grids can be exported to PDF, Excel, and CSV formats. Exportingjournal entries to many general ledger ERP systems is also a function of the system. 4. Train designated staff in the use of the software. In-depth user training is provided as part of the proposed solution. In addition, aftertraining is complete and the users are live on the solution, SymPro offers refresher/new user training at no cost. 5. Train designated staff in the creation and preparation of reports. This is a large portion of the training provided to the end user. 6. Provide maintenance on the system once implemented. SymPro provides white glove ongoing support and maintenance of the investment and debt solution during and after implementation. In ouryearly surveys,the SymPro support team receives an average of 9.3 out of 10 from our clients. 7. Maintenance and support will begin immediately after the implementation of the new computer system in the production environment. Yes SymPro Investment Et Debt Solution Proprietary and Confidential 13 Page 121 of 645 8. Include a plan for submitting system change orders, upgrades,fixes, and enhancements by the software management during maintenance of the system. We always encourage client input in the direction and enhancement of our solution. Our extensive public sector client base ensures that the solution is up to date and can meet the ongoing needs of our clients. 9. Creation of journal entries to interface with the general ledger. The General Ledger Interface module creates general ledgerjournal entries for all the investment transactions within a portfolio for a specific date range. The activity includes purchases, sales, maturities, interest received, investment earnings, and other standard fixed-income transactions. Once the journal transactions are created,you can view the transaction file on screen, print reports based on the file's data, and export the data to the GL System. An "Export" procedure in the General Ledger Interface module will print a detailed or summary report on the selected transactions and create the data table for processing by the General Ledger system. This transaction file is then placed in a pre-defined directory location for processing by the GL General Ledger system. There are numerous options for the types of transactions to be included in the table. 10.To safeguard the information input into the proposed Software and limit access to administrative features to authorized personnel,the proposed Software, at a minimum, must have the following security requirements: SymPro leverages the Microsoft Azure hosting platform and all the industry best practices processes and tools to ensure the security of clients' data. a) Provide daily,weekly, monthly, and yearly backup features. Yes. Data from both disk and memory is backed up constantly and synchronously to a secondary location with a maximum latency of 30 seconds. In the event of hardware failure or data center unavailability, return to operations (RTO)within 48 hours of the declaration of the disaster. Either new hardware or an alternative data center would be provided. b) Provide audit trail to verify input entries for accuracy;for example, security logs for each element changed with before and after displays including identification of user initiating change. -Available C) User IDs and passwords to access levels in the software system. Access to the solution is via separate User IDs and passwords. Four access levels are available-Read Only, Power User,Administrator, and System Administrator(User management). d) Menu-driven with online support and a help index. e) Manuals should be accessible via the Internet to multiple users. Soft copy of manuals will be made available to users. B. Software features for debt management shall provide all functions related to bonding, including but not limited to the following: SymPro Investment Et Debt Solution Proprietary and Confidential 14 Page 122 of 645 1. Bond structure and sizing: a) Fixed rate,variable rate, current refunding, advance refunding, cash defeasance,temporaryfinancing, short-term debt instruments, etc. The SymPro Debt solution provides all the outlined debt structures above (Fixed rate,Variable rate, Discounts, Commercial Paper, CAB, Term, Serial) and can accommodate the transactions listed. b) Ability to provide information specific to a bond issue, such as sources and uses of funds, and provide for the following: • Maintenance of all debt payment schedules The SymPro debt solution provides detailed amortization schedules for each bond issue. • Scheduling of all debt payments by due date, principal and interest and fees,total due, department,fund and accounting line item- System allows for allocating debt payments by fund and department.Accounting lines can be created and sent to the GL. • Calculation of all year-end accounting adjustments by bond issue and loan,fund and accounting entry, including accrued interest, reversal of prior year accrued interest, amortization of premium and discount and deferred charges-City has the ability to go on a full accrual accounting method, allowingfor interest accruals and amortizations of prem/disc on a monthly basis. • Possible tracking of actual bonds by CUSIP within each bond issue for continuing disclosure purposes The SymPro solution will track each bond by CUSIP within each bond issue. • Tracking of actual payments made by bond and loan, principal and interest, and date-This can be accomplished. • Allowing calculation of pro-forma amortization schedules at the bond level to determine effect on other debt outstanding-SymPro debt creates amortization schedules at the most detail level (CUSIP). C. The software will be responsible for the following Reporting and Compliance function which the software assists with: 1. Continuing disclosure related to bond portfolio.-Data in the system can be reported on and exported to be used in generating bond disclosure. 2. Official Statement table reporting related to authorized, allocated and issued bonds, outstanding debt per type, and other tables.The following list of reports, while not all inclusive, should be available and downloaded to Microsoft Excel: a) Outstanding Long-Term General Obligation Debt-Yes b) Summary of Principal and Interest on Long-Term Direct General Obligation Debt-Yes C) Outstanding Long-Term Direct General Obligation Debt-Yes SymPro Investment Et Debt Solution Proprietary and Confidential 15 Page 123 of 645 d) Authorized but Unissued Direct General Obligation Debt-Currently not available but in our product roadmap. e) Special Tax Obligation Debt Service on Outstanding Bonds -Yes f) Special Tax Obligation Actual&Projected Debt Service Coverage - No g) AnnualreportingforTreasurer'sAnnualReport-Thesystemhas numerous reports available foryearend reportingthat can be used to create a Treasurer's Annual Report. h) Financial reporting-The system has numerous reports available for Financial reporting purposes. i) Debt Cash flow reporting-Yes j) Ad hoc reporting capabilities-Reports and dynamic grids can easily be exported to Excel for ad hoc reporting purposes. D. Software features for investment management must be compliant with GASB31 (Accounting and Financial Reporting for Certain Investments and for External Investment Pools), GASB 40 (Deposit and Investment Risk) and GASB 72(Fairvalue Measurement). 1. At a minimum,the software must provide the following types of investment securities and money market instruments: a) Agency Discount Notes -supported b) Agency Callable Securities- supported C) Agency Callable Step-up Securities-supported d) Treasury Bills/Notes-supported e) Commercial Paper- supported f) Cash Accounts e.g., Passbook Accounts- supported g) CD's-supported h) Money Markets- supported i) Equities-can be tracked as a work around j) Repurchase agreement-supported k) Support for other Investment Types as needed-SymPro is a public- sector-driven solution that supports investments typically found in public-sector portfolios. 2. The City desires to have the following minimum program features in the proposed Solution: a) No limits on the number of portfolios the program can maintain -Yes b) No limits to the number of databases available-Yes C) A minimum of 9,999,999 individual security transactions; security types must be pre-defined by[Insert Entity Name]-There is no limit that our clients have encountered regarding the number of investments or transactions in the solution.Security types are SymPro Investment Et Debt Solution Proprietary and Confidential 16 Page 124 of 645 predefined but can also be defined by the user. d) Provide the following accretion/amortization options: • Straight line-Yes • Straight line from purchase until maturity-Yes • Straight line, using 30-day month over 360-dayyear-Yes • Scientific, using actual days over 365-dayyear(366 for leap years) - Yes • Scientific, using30-daymonthover360-dayyear-Yes, levelyield amortization is available. • Scientific, daily iteration method, using actual days over 365-day year(366 for leap years)-Yes, level yield amortization is available. • Scientific, daily iteration method, using 30-day months over 360-day year-Yes,the system has the abilityto do a daily amortization calculation. • Amortization, if necessary, at maturity only-Yes,this can be reflected when posting to the GL. • Amortization calculation on original issue discount using 30-day months over a 360-day year-Yes • Constant yield calculation on amortization date for short term, discount, non-coupon bearing,fixed income, securities using actual number of days over a 360-dayyear-Yes • Constant yield calculation actual days over 365-day year-Yes • Constant yield calculation 30-day months over 360-dayyear-Yes • Constant yield calculation interpolation between coupon dates, actual days over 365-day year-Yes • Constant yield calculation interpolation between coupon dates, 30- day months over 360-day year-Yes • Cash Basis Accounting-Yes • Rule of 78 method (sum of the day's digits) - No The proposed Software, at a minimum must be capable to provide,track, and report on the following: • Accretion/amortization for the month, and for the year,to date-Yes • A current book or amortized value-Yes • Accrued interest for the month,for the coupon period -Yes • Bond equivalent yields to maturity-Yes • Weighted average maturity-Yes • Weighted average yield -Yes • Unrealized gains and losses-Yes • Call date-Yes • Capability to generate system confirmation letters for trade settlement-System can generate trade tickets or position reports SymPro Investment Et Debt Solution Proprietary and Confidential 17 Page 125 of 645 on settlement date. • Investment pools and money market funds-Yes • Broker/dealer information -Yes • Assign diversification percentages by investment type, maturity, rating, CUSIP, dealer, other-Yes • Investment transaction history(i.e. purchase, sales, calls)-Yes • Capable of providing Buy and Sell scenario analysis- • Provide performance benchmark measurement capability-Yes • Maturity schedule by CUSIP number(identifies most financial instruments), maturity and purchase date -Yes • Provide sample report of cash flow modeling and forecasting- There are numerous reports in the system that will show the actual or projected cash flows of the portfolio. SymPro also has available an extensive cash management solution with extended forecasting capabilities, combiningyour bank transactions with your investment and debt cash flows.This is separate solution not being proposed in this RFP response. 3. The City desires Software that has automated process to upload market prices. Charges for any 3rd party market pricing services should be included in the cost of the Proposal.The City prefers not to enter into agreements with third party pricing services. In addition,the software should have the following market pricing capabilities: SymPro has a pricing portal where the user can price the portfolio monthly. Pricing more frequently can be added at an additional cost. 2) Market-pricing module available on a CUSIP number basis-Yes f) Market prices for each security type-Yes for those supported in the system. g) Price commercial paper-Yes h) Marketvalues must be saved for historical reporting purpose for previous years-Yes I) A description of any limitations to pricing systems-Market prices are provided by ICE Data Services.They are one of the largest providers of security data in the industry. Prices and CUSIP data are limited to what is included by ICE Data Services. SymPro also offers integrations to Custodial Banks for market pricing and can also import from an Excel format. Users are also able to easily add pricing to a global table if needed.You are in control! 4. The City is seeking robust reporting capabilities in the proposed Software. Reports must be exportable into Excel for further analysis and provide the ability for end users to create custom reports.At a minimum the proposed Software must have the following capabilities: j) Allowfor reports to be sorted bytype of investment, byfund, by CUSIP, and SymPro Investment Et Debt Solution Proprietary and Confidential 18 Page 126 of 645 other formats-SymPro has over 50 standard reports with numerous sorting options available.These reports were designed by and for public sector reporting. k) Description of the procedure for requesting a new report-When a client request a new report,we asl<them to send us a mocl<up of the report layout and data elements that they are looking for. If we cannot provide this in one of our standard reports,we will assess the report and determine the effort and value to the client base. Based on this,we will determine if there is a cost associated with the report. I) Description of the procedure for running a report-Reports are selected from the systems menu and run based on the options selected by the user.There is a check box available if the user would like to export into PDF or Excel. m) Description of the process to create and design a custom report; how many fields are included and how will future reports be assessed-Reports are one of the strengths of the SymPro solution. Users can export the standard report into Excel for extended charting and graphing or for customization. In the T- Cloud version of SymPro scheduled for release in Q1 of 2025,there is a full ad hoc reporting tool with an extensive set of data elements available. n) Merge portfolios for consolidated reporting purposes-There are options available in configuring the system depending upon the consolidated reporting required by the entity. O) Produce charts and graphs-There are standard charts and graphs available with various standard reports. Clients will also export the standard reports to Excel to take advantage of Excel's extensive and powerful capabilities. p) Run historical reports(i.e. an inventory report that includes market values for previous years)-The system provides for historical reporting. q) Run reports based on participating indicators for GASB 31,40, 72 and any future statements of the Governmental Accounting Standards Board (GASB). The investment system includes standard reports for GASB 31,40, and 72. SymPro has over 400 entities relying on our solutions, so any future GASB requirements would be quickly added to the system. SymPro Investment Et Debt Solution Proprietary and Confidential 19 Page 127 of 645