After using Microsoft based programs through the decades, the City of Folsom is moving forward with a modern way to develop its annual Operation Budget and Capital Improvements Plan. Following Tuesday’s regular council meeting, the city will soon be implementing new software from OpenGov Inc.
According to the City of Folsom staff report and analysis, the long utilized manual process for developing budgets and planning is time consuming and error prone with reliance on inputting data from the financial system. The report cites that the lack of modern tools results in processes which are inherently difficult to engage departments outside of Finance, maintain version control, track progressions of budget through steps in the process, and efficiently create budget reporting documents and presentations.
According to the report, a modern budget process requires a comprehensive software solution that provides planning, forecasting, process management, budget book development, transparency, reporting and analytics, and is well suited to engage all City departments in the budget process.
OpenGov software reportedly meets such criteria and can integrate with the City’s financial system, Finance Enterprise. The integration creates assurances that accurate financial data for current and prior years is being used in the budget development process.
Prior to Tuesday’s review and approval of the resolution, the City of Folsom Finance Department staff met with and reviewed several budgeting software services. After a preliminary review of the other platforms, OpenGov’s solution was the most aligned with the City’s current budgeting practices and processes, according to the staff’s analysis.
Finance Department staff further vetted OpenGov’s system by participating in a series of, “demonstrations that drilled into its core functionality. Finance Department staff also conferred with a neighboring city operating OpenGov Budget and Planning software to hear their testimonial and experience using the platform.
The total cost of the changeover is $328,174.75 over a forty-three-month term, which includes a $53,535.00 implementation cost. Staff anticipates they will kick off the project in December of this year, which will allow adequate time to completely prepare to put the software into full operation for the Fiscal Year 2024-25 Operation Budget and Capital Improvement Plan.
