STO is requesting $5.8 million in spending authority for the 2017-18 fiscal year, the majority of which will go to the project's system integrator, Natoma Technologies, as it completes a series of work orders on the project.
Sacramento-based Natoma Technologies came aboard in April 2016 after winning a competitively bid RFO. The treasurer's office, with backing from the Department of General Services and Department of Technology, is using an alternative approach to procurement and project management for this system modernization. The contract is built around sequential work authorizations so that the state and its contractor can take advantage of contract “offramps” should the situation call for it.
STO officials say it should be more flexible, not as costly and less risky compared to a full waterfall-style system replacement. The spending request is summarized here:
Source: STO
The contractor and the STO created a blended team to work on a series of “optimization initiatives.” The work authorizations will address those optimization initiatives, and the list of priorities could change as STO needs new or different functionality. The team is working together on design and development, as well as analysis activities.
Infiniti Consulting in Sacramento did Independent Validation aand Verification (IV&V), and determined that it would be more cost effective and less risky to make upgrades to the Debt Management System's Oracle database instead of doing a full system replacement.
The Debt Management System is about 14 years old, and is used by the Public Finance Division to oversee the state's debt portfolio.
The upgrade to the Debt Management System is about 20 percent complete, according to reporting documents.
