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21-0302_TYLER TECHNOLOGIES, INC._PowerPoint_F1aSecond Quarter Financial Report Item F1a March 2, 2021 Financial Status of General Fund •Projected available fund balance -$21.7 million •$1 million reduction in annual personnel costs •$1.2 million increase in projected 20/21 sales tax revenue •$254,000 increase in development related revenues •Reduced litigation expenses 2 Financial Status of General Fund •Growth in reserves over past three years •Continued uncertainty regarding global pandemic timeline and related economic impacts •Updated reserve policy •Development of Fiscal Year 2021-22 Budget 3 Utility Funds •Water Fund –Revenues exceed expenses by $2.8 million •Sewer Fund -Revenues exceed expenses by $200,000 •Surplus funds invested in water and sewer infrastructure 4 Information Technology Security Measures •Upgraded network architecture •Upgraded server architecture •Fiber redundant internet connectivity •Migrating to Office 365 email system (cloud-based email) •Upgraded phone system •Establishment of a computer equipment replacement program •Disaster and ransomware recovery policies 5 Replacement of Finance-Human Resources System •Replaces out-of-date 12-year old system •On premises hardware vulnerable to security breaches •Replace with secure cloud-based system •Next generation functionality •Virtually paperless payroll and vendor invoice processing •Use $648,000 of $1.8 million Facilities Operation Fund Balance •$45,000 increase in annual support costs 6 7 Recommendations 1.Receive and file second quarter financial report 2.Approve proposed budget adjustments 3.Approve and authorize the City Manager to execute Tyler agreement 4.Appropriate $648,000 from Facilities Operation Fund to upgrade Finance-Human Resources system Thank you QUESTIONS?