037.2024 Authorizing Renewal of Fifth Asset Inc BBA Debtbook Debt and Lease Management Software RESOLUTION AUTHORIZING RENEWAL OF FIFTH ASSET, INC.,
DB/A DEBTBOOK DEBT AND LEASE MANAGEMENT SOFTWARE
RESOLUTION NO.: 37,2024
INTRODUCED BY: Mr. Timothy McNulty
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Anthony Metivier
WHEREAS, by Resolution No.: 94, 2023, the Queensbury Town Board authorized
engagement of Fifth Asset, Inc., d/b/a DebtBook (DebtBook) for implementation of DebtBook's
debt and lease management software, and
WHEREAS, the Town Budget Officer has recommended that the Town Board authorize a
three (3) year renewal of the DebtBook debt and lease management software, as lease disclosure is
required under Governmental Accounting Standards Board (GASB-87) for the Town's fiscal year
financial statements, and
WHEREAS, DebtBook has submitted a Quote and Order Form Amendment dated
12/13/2023 for an annual subscription fee of $7,600 for 2024, $8,000 for 2025 and $8,400 for
2026 for a total contract value of$24,000, and
WHEREAS, the Town Board concurs with the Town Budget Officer's recommendation,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the three (3)
year renewal of Fifth Asset, Inc., d/b/a DebtBook's debt and lease management software in
accordance with DebtBook's Quote and Order Form Amendment dated 12/13/2023 for an annual
subscription fee of $7,600 for 2024, $8,000 for 2025 and $8,400 for 2026 for a total contract
value of$24,000 and authorizes and directs the Town Supervisor to sign the Quote and Order Form
Amendment substantially in the form presented at this meeting as well as any other needed
documentation,to be paid from Computer Software Account No.: 001-1680-2032, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, and/or
Town Budget Officer to take such other and further actions as may be necessary to effectuate the
terms of this Resolution.
Duly adopted this I'day of January, 2024,by the following vote:
AYES Mr. Dixon, Mr. McNulty, Mr. Strough, Mr. Metivier, Mr. Freer
NOES None
ABSENT: None