Financial Reporting Consultant Services

The vendor is required to provide financial reporting consultant services for include:
a. Planning and kickoff
•    Conduct an initial planning meeting with district finance and accounting and city of finance staff.
•    Review prior year financial statements, accounting policies, trial balances, and reconciliation schedules.
b. Full accrual conversion
•    Convert fund-level financial information from budgetary or modified accrual to full accrual accounting.
•    Prepare the proprietary fund financial statements, including:
o    Statement of net position
o    Statement of revenues, expenses, and changes in net position
o    Statement of cash flows
•    Develop and post year-end accrual journal entries for:
o    Capital asset activity and depreciation
o    long-term debt and related interest
o    Compensated absences, claims payable, and OPEB and Net pension liabilities
o    Revenue recognition for receivables (e.g., user charges, connection fees)
o    Payables and other current and non-current liabilities
c. Capital asset and long-term debt reconciliation
•    Assist in reconciling capital asset additions, retirements, depreciation, and capital improvement planning (CIP).
•    Ensure proper recording of bond proceeds, amortization, and related compliance disclosures.
d. Financial statement preparation
•    Prepare complete footnotes in compliance with board requirements.
•    Prepare the management’s discussion and analysis (full drafting).
•    Ensure all board statements applicable to enterprise funds are properly addressed, including new pronouncements effective as of the reporting period.
e. Internal review and adjustments
•    Meet with district and city finance staff to review the draft generally accepted accounting principles (GAAP) statements and reconcile to trial balances.
•    Make any necessary adjustments and finalize schedules for audit support.
f. Audit support
•    Provide audit-ready schedules and reconciliations.
•    Respond to auditor inquiries and provide documentation as needed throughout the audit process.

- Contract Period/Term: 2 years
- Questions/Inquires Deadline: August 26, 2025