Released: 4/9/2008

An Affordable Solution for Cities with a Population of 350 to 3500

Red Wing, MN – April 8, 2008 – Red Wing Software, Inc. announces the release of CenterPoint Fund Accounting Software, with functionality specific to the municipal market. Now smaller municipalities can manage budgets, expenses and revenue, and handle complex reporting with a software solution that is affordable.

“A growing number of municipal organizations have moved to Red Wing Software products over the years. Because of the increasing numbers, we decided to go a step further and develop a product for them, based on their specific needs,” says Ken Hilton, Red Wing Software President, “Now smaller municipalities have a software solution that can manage their financial information and payroll that is still affordable.”

CenterPoint Fund Accounting for Municipals features a six-month customizable financial statement and chart of accounts, a Statement of Revenue and Expenses following the GASB recommended format, and an interface to the RVS Utility Billing System. Multiple funds can be maintained with a unique, customizable chart of accounts, and unlimited fund codes are available. Payroll can easily be handled in the integrated CenterPoint Payroll application, where employees can work for more than one fund and are able to get a single W-2. Taxable wages from all funds are reported on a single 941, simplifying tax filing processes.

Budgeting can be done for individual funds such as general, capital project, street, pension, revenue, water/sewer, and more. Budget reports can be run to compare actual to budget by fund.

CenterPoint Fund Accounting for Municipals is built with the latest technology including Microsoft® Visual C#®, and is a .NET Framework-based application. Red Wing Software’s commitment to using the latest technology ensures that their customers’ programs will stay current as their needs change.

Red Wing Software, Inc., along with its nationwide network of business partners, offers industry-leading service, as well as training, on-site installation and implementation of the software. Their vision is to create the best management software experience through personal support and attention to customers’ goals.

For more information about CenterPoint Fund Accounting for Municipals, visit www.redwingsoftware.com/municipal or click on one of the links below.

Press Information

• Product Background Sheet(pdf)
• Product Brochure (pdf)
• Company Fact Sheet (pdf)

Red Wing Software, Inc. develops, integrates and supports the accounting and financial management needs of small- to mid-sized organizations across North America. For more information on Red Wing Software products, including TurningPoint Accounting, CenterPoint, and CenterPoint Payroll, call 1-800-732-9464 or visit www.redwingsoftware.com.A href="http://www.redwingsoftware.com/">www.redwingsoftware.com.

Contact: Cindy Bauer
Red Wing Software, Inc.
491 Highway 19, Red Wing, MN 55066
Phone: 800-732-9464
Fax: 651-388-7950
www.redwingsoftware.com
marketing@redwingsoftware.com