Treasury awards SunGard accouting contract
The Treasury Department awarded a $13 million contract to SunGard Investment Systems Inc. of Lombard, Ill., to provide investment accounting software and support services for the Office of Public Debt Accounting.
The contract has a one-year base period and six one-year options.
The office in the Bureau of the Public Debt plans to use the software to manage federal, state and local government investments, Treasury loan services and the amortization calculations function for its summary debt accounting program. These programs account for $3.5 trillion in Government Account Series securities, $235 billion in state and local government securities and $246 billion in Treasury loans to federal agencies.
The system will give the Bureau of Public Debt and its customers online access to investment transaction data, such as activity for a period defined by the user; principal, amortization, interest accrual balances; and statements of account.
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