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Council approves staff recommendation to renew IT lease-purchase authority after staff report of cost savings
Summary
Chief Information Officer Scott Newman briefed council on renewing IT lease-purchase authority to meet IRS requirements and said the program saved the city about $500,000 last year; council accepted staff recommendation to renew the authority for another year.
Scott Newman, Chief Information Officer, told council that renewing the city's lease-purchase authority for IT procurement is an annual requirement related to IRS rules and a tool for cost containment.
"This is an annual requirement ... it was determined that in order for IT purchases to utilize lease purchasing authority that we should have an annual ordinance that authorizes us to do so to help make sure we clear all IRS requirements," Newman said. He added that last year the lease-purchase option saved the city "about a half million dollars."
Council had no objections and moved forward with the staff recommendation to renew the authority for another year; no formal roll-call vote was recorded in the study session minutes presented.
