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State Contract Reporting System

Florida Department of Financial Services: F.A.C.T.S

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Contract Information

 

Summary

Agency Name: DEPARTMENT OF FINANCIAL SERVICES

Agency Contract ID: OFR-FIN-0013

Long Title: Deferred Presentment Payment Transactions-A436CC

Vendor Name: VERITEC SOLUTIONS LLC

Total Contract Amount: $0.00

Total Budgetary Amount: $32,768,060.00

Total Payment To Date: $17,169,693.41

Date of Execution: 08/28/2008

General Description: To support the collection of fees and maintenance of a database concerning payday loans, check cashing services

Main Information

Agency Contract ID: OFR-FIN-0013

FLAIR Contract ID: F0013

Short Title: DPPT

Long Title: Deferred Presentment Payment Transactions-A436CC

Contract Type: Standard Two Party Agreement by Statute

Contract Status: Closed or Expired

Date of Execution: 08/28/2008

Date of Beginning: 08/28/2008

Original End Date: 08/28/2013

New Ending Date: 08/27/2018

Agency Service Area: FI

Statutory Authority: 560.404, F.S.

Contract Involves State or Federal Financial Assistance: No

Recipient Type:

Provide for Administrative Cost: No

Provide for Periodic Increase: No

Procurement Information

Authorized Advanced Payment: No

Method of Procurement: Agency Invitation to Negotiate [s. 287.057(1)(c), F.S.]

State Term Contract ID:

Contract’s Exemption Justification:

Agency Reference Number: DFS ITN 07/08-18

Business Case Study Done: Yes

Business Case Date: 03/18/2008

Legal Challenges to Procurement: No

Outsourcing / Capital Improvements

Was the Contracted Function Previously Performed by the State: No

Was the Contracted Function Considered for Insourcing back to the State: No

Did the Vendor Make Capital Improvements on State Property: No

Budget Information

Original Contract Amount: $0.00

Total Contract Amount: $0.00

Total Recurring Budgetary Amount: $32,768,060.00

Total Non-Recurring Budgetary Amount: $0.00

Total Budgetary Amount: $32,768,060.00

Total Unfunded Amount: ($32,768,060.00)

As of Date: 7/2/2018

Recurring Budgetary Amount Account Code Fiscal Year Effective Date FY Cost Accumulator Agency Amendment Reference
$2,930,000.00 43-50-2-573002-43900560-00-100513-00 07/01/2018 2018-2019
$2,930,000.00 43-50-2-573002-43900560-00-100513-00 07/01/2017 2017-2018
$2,930,000.00 43-50-2-573002-43900560-00-100513-00 07/01/2016 2016-2017
$2,930,000.00 43-50-2-573002-43900560-00-100513-00 07/01/2015 2015-2016
$2,730,000.00 43-50-2-573002-43900560-00-100513-00 07/01/2014 2014-2015 R1
$2,772,000.00 43-50-2-573002-43900560-00-100777-00 07/01/2013 2013-2014
$3,331,000.00 43-50-2-573002-43900560-00-100777-00 07/01/2012 2012-2013
$2,900,000.00 43-50-2-573006-43900560-00-100777-00 07/01/2011 2011-2012
$9,315,060.00 43-50-2-573006-43900560-00-100777-00 08/28/2008 2008-2009


No Non-Recurring Budgetary records found for this contract.

Contract Change

Change Type Amendment Amount Agency Amendment Reference Change Description Amendment Effective Date Amendment Execution Date New Ending Date
Amendment $0.00 A3 Amendment 3 01/10/2017 01/10/2017
Amendment $0.00 A4 Amendment 4 08/04/2017 08/04/2017
Amendment $0.00 R2 Amendment 2/Renewal 2 08/28/2016 08/25/2015 08/27/2018
Amendment $0.00 R1 Amendment 1 & Renewal 1 - with price reduction 08/29/2013 08/21/2013 08/28/2016

Vendor

Name Line 1Name Line 2City State ZipMinority Vendor Designation
VERITEC SOLUTIONS LLC JACKSONVILLE FL 322560000 Non-Minority

CFDA

No CFDA Codes found for the contract.

CSFA

No CSFA Codes found for the contract.
More Deliverable Number      Commodity/Service Type Major Deliverable Method of Payment
     
 COMPUTER DATA BASE Database tracking and management services through 8/28/2013. Fixed Fee / Unit Rate
     
 Data base management system software Database tracking and management services. Vendor will be paid based on volume of transactions proce... Fixed Fee / Unit Rate
     
 Data base management system software Database tracking and management services. Vendor will be paid based on volume of transactions proce... Fixed Fee / Unit Rate
     
 Data base management system software MANUAL PROCESS: Contract Amendment #3, signed January 10, 2017; Change to existing manual process... Fixed Fee / Unit Rate
 Displaying 1 to 4 of 4    


Payments are also referred to as expenditures (creating or incurring a legal obligation to disburse money) or disbursements (the payment of expenditures). Payments include disbursements and accounting adjustments made on a contract. Payments are always positive amounts while accounting adjustments may be positive or negative depending on the type of adjustment.

Payment Details

"Date" in the listing below indicates the date the payment voucher was recorded in the system, not the date the payment was issued.
More Fiscal Year Total Amount
     
 2018-2019 $326,660.62
     
 2017-2018 $2,720,291.85
     
 2016-2017 $2,669,110.82
     
 2015-2016 $2,739,657.20
     
 2014-2015 $2,560,972.92
     
 2013-2014 $2,822,000.00
     
 2012-2013 $3,331,000.00

If a payment or adjustment to a contract was made before July 1, 2012, the information may not be posted in this system.

Contract Documents


Click on the pdf icon or Agency Document Link to view the document
Document Type Document Reference # Executed Date Document Add Date Agency Document Link View
Original Contract Original Contract - F0013 08/28/2008 6/20/2012 4:18:31 PM
Procurement Original Contract - F0013 7/17/2014 10:43:37 AM
Amendment A3 01/10/2017 1/10/2017 12:36:03 PM
Amendment A4 08/04/2017 4/9/2018 10:03:22 AM
Amendment R1 08/21/2013 10/7/2013 2:59:02 PM
Amendment R2 08/25/2015 10/28/2015 11:01:13 AM


Audit results posted prior to June 30, 2012, appear in a summarized form. As of July 1, 2012, the audit reporting process was expanded to include additional questions and comments from the Bureau of Auditing. As audits are captured in electronic format, they will be posted to this system. If you are interested in seeing audit reports by Fiscal Year and Agency Action Plans, please click here to navigate to the Transparency Florida Contract Audit page.
Audit Type Review Date Fiscal Year View
Expanded Audit of Payment 11/02/2015 2015-2016 View
Expanded Audit of Payment 10/24/2014 2014-2015 View
Contract Review 03/25/2011 2010-2011 View
Contract Management Review 03/25/2011 2010-2011 View
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