Commissioners Court Meeting

Issue viewing agenda items? Click here to switch to the old format.

Return to the Search Page Return to the Agenda

Meeting Date:	02/28/2022
Clearwater Analytics Investment Software
Submitted for:	Jeronimo Martinez	Submitted By:	Jeronimo Martinez
Department:	Treasurer

Subject:

Discussion and possible action to approve an annual Master Services Agreement between Webb County and Clearwater Analytics, LLC. For a web-based software-as-a-service investment accounting solution for the Webb County Treasurer’s Office at a monthly rate of $1,250.00 per month and to approve by order a discretionary exemption for copyrights and proprietary software in accordance with the Texas Local Government Code; Section 262.024 (Discretionary Exemptions) (7)(a.) with additional action to authorize a budget amendment in the amount not to exceed $8,750 from Account #1001-1130-001-431007-010 (Operational Reserve) and to further authorize the County Judge to sign all relevant documents and any other matters incident thereto. [Account #1001-1250-001-464005 (Books & Subscriptions)]

Issue: Webb County has begun diversifying its Investment Portfolio as we continue to grow our portfolio the need for a software with capabilities to track and reconcile daily/monthly will enable us to better evaluate our financial positions.

Solution: Clearwater’s investment accounting and reporting capabilities are able to aggregate and reconcile investment data from over 40 third-party data vendors and automatically integrates them into a robust, reconciled security master file that is updated daily. Clearwater also aggregates all our investment data from our investment managers, custody banks, and state depository institutions.

Result: Once implemented the Clearwater platform will connect all our investments and investment data to a much more efficient reporting system. This allows our office to see real time data on Webb County's investments. We will become more efficient and transparent with the use of this software.

Background:

n/a

Previous Court Action:

Fiscal Impact

Budget Account Number:	1001-1250-001-464005
Funding Source:	n/a
Balance:	0
Financial Impact:
$8,750.00

Attachments
Clearwater Proposal
Clearwater MSA
Clearwater Order Form