SEATTLE CITY COUNCIL - Record No: CB 118451

• Record No: CB 118451
• Version: 1
• Council Bill No: CB 118451
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 8/3/2015
• Ordinance No: Ord 124823
• Title: AN ORDINANCE relating to the Summit Re-Implementation project in the Department of Finance and Administrative Services; amending Ordinance 124648, which adopted the 2015 Budget; establishing the 2016 Multipurpose LTGO Bond Fund; authorizing the loan of funds from the City's Consolidated (Residual) Cash Pool, or its participating funds, in the amount of $22,000,000, to the 2016 and 2017 Multipurpose LTGO Bond Funds for bridge financing of the Summit Re-Implementation project; establishing a budget control level in the 2016 Multipurpose LTGO Bond Fund; increasing appropriations in the 2016 Multipurpose LTGO Bond Fund; and ratifying and confirming certain prior acts; all by a 3/4 vote of the City Council.
• Sponsors: Nick Licata
• Supporting documents: 1. Summary and Fiscal Note, 2. Signed Ord 124823

Date	Ver.	Action By	Action	Result
8/7/2015	1	City Clerk	attested by City Clerk
8/7/2015	1	Mayor	Signed
8/7/2015	1	Mayor	returned
8/4/2015	1	City Clerk	submitted for Mayor's signature
8/3/2015	1	City Council	passed	Pass
7/29/2015	1	Finance and Culture Committee	pass	Pass
6/25/2015	1	Council President's Office	sent for review
6/23/2015	1	City Clerk	sent for review
6/23/2015	1	Mayor	Mayor's leg transmitted to Council

CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the Summit Re-Implementation project in the Department of Finance and Administrative Services; amending Ordinance 124648, which adopted the 2015 Budget; establishing the 2016 Multipurpose LTGO Bond Fund; authorizing the loan of funds from the City's Consolidated (Residual) Cash Pool, or its participating funds, in the amount of $22,000,000, to the 2016 and 2017 Multipurpose LTGO Bond Funds for bridge financing of the Summit Re-Implementation project; establishing a budget control level in the 2016 Multipurpose LTGO Bond Fund; increasing appropriations in the 2016 Multipurpose LTGO Bond Fund; and ratifying and confirming certain prior acts; all by a 3/4 vote of the City Council.

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WHEREAS, the City's Financial Management and Accountability Program (FinMAP) was initiated in 2011 through City Council Resolution 31332 to strengthen financial management policies and procedures and includes the Summit Re-Implementation (SRI) project; and
WHEREAS, Summit is the City's financial management information technology system, built with Oracle's PeopleSoft product line, and vendor support has expired for the City's PeopleSoft version 8.8, leaving Summit at significant risk for potential system failure since it is incompatible with new versions of certain supporting software; and
WHEREAS, the Executive has endorsed a scope for implementation of the SRI project that will: make progress on standardizing departments' use of Summit, optimize the City's chart of accounts; transition to a project-centric accounting model; re-engineer City business processes and department systems to take advantage of PeopleSoft functionality; and implement the Procure to Pay module for certain departments; and
WHEREAS, the Council provided authorization for debt financing through limited tax general obligation (LTGO) bonds in 2013 and 2014 for the SRI development phase; and
W...