Brand Name Justification.doc

Fiserv/CheckFree Recon Plus For Windows Automated Reconciliation Tool Background Information & Brand Name or Equal Description Fiserv/CheckFree Recon Plus For Windows Software automated reconciliation tool that ED/OCFO procured in September 1999 (with several software upgrades since then) is utilized on a daily basis during the process of completing some of the most critically important Financial Reconciliations that ED/OCFO is responsible for such as (but not limited to):

(1) Fund Balance With Treasury (FBWT) Reconciliation

(2) Statement of Transactions - SF224 Preparation (Cash Reporting and Reconciliation to the Treasury Department)

(3) Suspense Account Reconciliations

(4) Governmentwide Accounting (GWA) Reconciliation & Internal Reporting of Treasury GWA Information

All of these Reconciliations & Reporting actions are a critical part of the Annual Financial Statement Audit. Utilization of the Fiserv/CheckFree Recon Plus For Windows Software in the process to complete these reconciliations has revolutionized the quality, timeliness, accuracy and productivity of all of these reconciliations. The FBWT Reconciliation which this month totals in excess of $210 Billion is the most important reconciliation that ED/OCFO completes and since implementation of Fiserv/CheckFree Recon Plus For Windows Software within our process, the department has received eight consecutive clean opinions on the Annual Audits. Numerous downloads of financial data are provided to the Financial Statement Auditors from the four reconciliation applications listed above.

Due to the excellence and the state of art quality of the Fiserv/CheckFree Recon Plus For Windows Software much success has been accomplished in the last ten years. In 2004 the U.S. Department of Education OCFO was awarded the prestigious Alexander Hamilton Award for Excellence for Technology (Silver Medal in recognition of its excellent use of technology to reduce its cash management risk) by the U.S. based Treasury & Risk Management (a leading magazine for Chief Financial Officers, Treasurers and Financial Executives at U.S. Corporations).

Treasury Reporting & OMB Reporting: FBWT Reconciliation, SF224 Reporting and Suspense Reconciliation must be completed on a timely basis per the Treasury Department. Some Metrics Tracking System (MTS) data is also derived from the data that we maintain in Fiserv/CheckFree Recon Plus For Windows and this data must be reported to the MTS on a timely basis as required by OMB.

Fiserv/CheckFree Recon Plus For Windows Software includes three specific Modules, plus Reports Capability.

Admin Module (System Administration): In general allows for User ID set up and privileges set up for each user. Admin allows us to monitor all users of the system and provides user reports.

Recollector Module (Import Engine): In general allows for robust import (as well as deport) of transactions that are to be reconciled/matched. Recollector maintains an audit trail history of the transactions/records that are imported or deported. Recollector also allows us to develop unique import formats for each type of data to be imported.

Recon Module (Automated Matching Engine): In general allows for robust automated matching/reconciliation of transactions that have been imported based upon matching rules that we develop in Recon for each “Company” (Application). Recon provides a robust Audit Trail Capability of all transactions. Recon allows for development of unique Reconciliation Applications. Over 14 Million automated matches have been completed in Recon since implementation. On an annual basis, millions of transactions valued at over $500 Billion are reconciled within Recon.

Crystal Reports (In Fiserv/CheckFree): In general provides numerous useful robust canned and in-house developed reports that report, for example, issues such as matched or unmatched transactions or other exception reporting.

Number of Users/Volume: ED/OCFO owns 40 concurrent CheckFree Recon Plus For Windows licenses plus 5 read only licenses. There are over 30 current active users and it is anticipated that at more new users will be added soon. Most users are desktop users, but some only access the software from a remote location via Citrix. (Note that only very specific OCFO Reporting & Analysis Group/Data Integrity Team and General Accounting Group personnel have user privileges to access the Admin Module or Recollector Module or do Development work in Recon. Most users only utilize the Recon Module. The Admin & Recollector functions are completed centrally in OCFO, but the Recon only users based upon OCIO set-ups can access the Recon Module from their desktops in their office or from a remote location via Citrix.)

Current Reporting System: Fiserv/CheckFree Recon Plus For Windows Software includes Crystal Reports as the reporting engine.

Time Constraints: All actions that are taken in Fiserv/CheckFree Recon Plus For Windows have extremely tight timelines/deadlines. Transactions are imported into CheckFree Recon Plus For Windows daily. Reconciliation & Reporting deadlines are monitored closely internally and external to ED.

Fiserv/CheckFree Annual Software Maintenance provides for the following:

(1) 24 Hours 7 Days a week Fiserv/CheckFree Recon Plus For Windows Support

(2) Access to Fiserv/CheckFree Recon Plus For Windows Fixes.

(3) Included in Fiserv/CheckFree Recon Plus For Windows User Group and activities.

(4) Eligible to attend Fiserv Annual Financial Control Solutions User Conference

(5) Eligible to access Fiserv webinars and other activities.

Annual Software Maintenance Provider: Fiserv/CheckFree is the only provider of the Annual Software Maintenance for Fiserv/CheckFree Recon Plus For Windows that needs to be procured for the soon approaching period of 09/01/10 to 08/31/11.