Posting Language
Title
Authorize a contract for Synario financial forecast software for Austin Water and Austin Financial Services with PFM Solutions LLC, for an initial term of two years with up to three one-year extension options in an amount not to exceed $1,224,000. Funding: $162,800 is available in the Operating Budget of Austin Water. $41,200 is available in the Operating Budget of Austin Financial Services. Funding for the remaining contract term is contingent upon available funding in future budgets.
Body
Lead Department
Austin Financial Services.
Client Department(s)
Austin Water and Austin Financial Services.
Fiscal Note
Funding in the amount of $162,800 is available in the Fiscal Year 2025-2026 Operating Budget of Austin Water.
Funding in the amount of $41,200 is available in the Fiscal Year 2025-2026 Operating Budget of Austin Financial Services.
Funding for the remaining contract term is contingent upon available funding in future budgets.
Procurement Language:
Sole Source.
MBE/WBE:
Sole source contracts are exempt from the City Code Chapter 2-9 B (Minority-Owned and Women-Owned Business Enterprise Procurement Program); therefore, no subcontracting goals were established.
For More Information:
Direct questions regarding this Recommendation for Council Action to Austin Financial Services - Central Procurement at FSDCentralProcurementRCAs@austintexas.gov or 512-974-2500.
Additional Backup Information:
This contract will provide ongoing software licensing, maintenance, and support for the Synario forecast model used by Austin Water (AW) and Austin Financial Services (AFS) for annual financial forecasting and future scenario modeling.
The Synario forecast model is a cloud-based financial modeling tool used for long-term financial forecasting and scenario analysis. It supports annual operating budget development and aligns with the City’s goals for capital improvement and long-term planning by providing reliable data to inform budget, rate, and capital investment decisions. Performance is evaluated through forecast accuracy, financial sustainability indicators, and the model’s ability to assess multiple financial scenarios.
Synario is proprietary software provided only by the contractor. The system has been customized using AW data and business requirements, including the integration of AFS as an added department, making it unique and not replicable by another contractor without significant cost and disruption. This contract replaces a previous agreement for the same services, and the recommended contractor is the current provider. Continued use ensures continuity of operations and protects the City’s investment in the system.
If this contract is not approved, the City will lose access to the customized Synario tool, which may disrupt financial forecasting, budget planning, and ongoing operations.
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Contract Details: |
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Contract Term |
Length of Term |
Contract Authorization |
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Initial Term |
2 years |
$489,600 |
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Optional Extension 1 |
1 year |
$244,800 |
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Optional Extension 2 |
1 year |
$244,800 |
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Optional Extension 3 |
1 year |
$244,800 |
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Total |
5 years |
$1,224,000 |
Note: Contract Authorization amounts are based on the City’s estimated annual usage.