Wednesday, December 05, 2012
WASS Ventura County Edition
The Ventura County Board of Supervisors agreed Tuesday to buy a $18 million financial accounting software system to track how the county government collects and spends every dollar.
The software, hardware and implementation will run about $11 million, with a 12-year license for the system costing another $7 million. Six full-time county employees will be moved to the auditor-controller's office to help put the system in place.
Supervisors approved the new system in principal about a year ago. On Tuesday, it voted unanimously to borrow up to $15 million in short-term loans to help pay for the project. Paying the loans back will cost about $18 million over 10 years.
In addition to the $18 million price tag, running the new system will cost the county about $2.4 million a year for the next 12 years. That shouldn't be included in the total price, Auditor-Controller Christine Cohen told the board, because it's similar to what the county pays to maintain its current system. Read more: http://www.vcstar.com/news/2012/dec/04/supervisors-buy-financial-software-to-monitor/#ixzz2EF3kDVCW