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ITEM: AUTHORIZATION TO AMEND AN AGREEMENT FOR ELECTRONIC BILLING, MULTI-CHANNEL PAYMENT PROCESSING, AND NOTIFICATION SERVICES
REQUEST: Authorization to amend the agreement with Paymentus Corporation to revise the estimated annual expenditure amount from $177,026.00 to approximately $300,000.00.
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EXPLANATION: On July 16, 2024, Council authorized an agreement with Paymentus Corporation to provide electronic billing, multi-channel payment processing, and notification services related to utility billing, in the estimated annual amount of $177,026.00. This estimate was based on historical transaction counts.
Since implementation, actual service usage has exceeded the original projections. Based on transaction volumes to date, staff now estimates that annual expenditures will average approximately $300,000.00.
The Paymentus fee schedule is based on per-transaction unit pricing, which remains unchanged for the remainder of the initial seven (7) year term of the agreement. The increased expenditure reflects higher transaction volumes, not a change in rates.
BUDGET AMENDMENT REQUIRED:
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: The Fiscal Year 2026 Budget includes the projected expenditures of $300,000.00.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Authorization to amend the agreement with Paymentus Corporation to revise the estimated annual expenditure amount from $177,026.00 to approximately $300,000.00.