The District is implementing KRONOS automated time and attendance reporting as part of the Division of Business Services’ strategy to automate manual processes when cost effective and appropriate.  The current payroll process is paper driven and highly labor intensive.

KRONOS, Inc., is offering a zero percent lease on the purchase of the aforementioned software licenses and first year maintenance for a period of 24 months.

The Superintendent recommends approval of the master lease agreement for the purchase of KRONOS software licenses and first year maintenance for implementation of the KRONOS automated time and attendance reporting.

Motion and approval of master lease agreement for the purchase of KRONOS software licenses and first year maintenance for implementation of the KRONOS automated time and attendance reporting. 

The total cost of the licenses and associated first year maintenance is $105,020.00.  The 24-month master lease agreement at zero percent interest provides for monthly payments of $4,375.83 of which $3,708.33 will be paid from budgeted capital funds and $667.50 will be paid from budgeted operating funds.  Such a financing at zero percent interest affords the District the opportunity to fund other projects or invest those funds that would otherwise be expended and generate an additional $5,000.00 in interest earnings at current rates.

Finance Department

JD/ek

03/12/07