To: Harris County Commissioners Court
Through: Amy Perez, Director of Financial Management, Budget Management Department
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Prepared By: Diana Elizondo, Investment Manager, Budget Management Department
Subject: Setup a Legal Entity Identifier (LEI)
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Project ID (If applicable]:
Purpose and Request:
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Request for approval to setup a Legal Entity Identifier (LEI) to identify Harris County as a legal entity that participates in financial transactions on a globally accessible database.
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Background and Discussion:
Harris County currently uses Bloomberg Professional Services, which is requiring all entities that use their electronic trading platform to have a Legal Entity Identifier (LEI). The LEI is used to help identify legal entities (such as companies or governmental entities) that participate in financial transactions on a globally accessible database. A growing number of global financial regulators, including the U.S. Federal Reserve system, require LEI numbers in their reporting requirements.
This request is to certify that we are authorized to grant permission to apply for and manage a LEI number and that Bloomberg may require written evidence of such authorization upon request. The application fee is $65 and the LEI is good for one year. Future renewals are automatic and will be charged $65 upon renewal.
Fiscal Impact:
[INSTRUCTIONS: A short description of the cost of the request and where you are requesting funding from. No more than 2 sentences. In addition please fill out the table below. This includes financial impact to the current fiscal year and subsequent fiscal years along with the source of funding (general fund, grant, etc.). If the amount is within the current budget, please indicate the amount from ‘Existing Department Budget'. If all of or part of the request is a new expense, please indicate funding source in the space provided.]
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Fiscal Summary |
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Expenditures |
FY 20-21 |
FY 21-22 Projected |
Future Years Projected [3 additional years] |
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Service Impacted: [Please provide service or division where expenditure will be used]* |
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Existing Budget |
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Additional Appropriation Requested |
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Total Expenditures |
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Funding Sources |
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Existing Department Budget |
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Please Identify Funding Source (General Fund, PIC, Special Revenue, Grant, Etc.) |
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[INSERT FUNDING SOURCE HERE]* |
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Total Sources |
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Alternatives:
[INSTRUCTIONS: In this section you should briefly discuss any viable alternatives, including the benefits and consequences of each. Include subtitles on the first line of each alternative to identify it. If appropriate, the financial impact of each alternative can be discussed. If taking no action is a viable alternative it should also be discussed, including any financial or other impacts that would result.]
Alignment with Strategic Objective:
[INSTRUCTIONS: Please write out the Department Strategic Objective impacted by this item.]
Attachments:
Attached letter requesting to setup a Legal Entity Identifier (LEI).