Financial Services

The Vendor is required to provide financial reporting, budget implementation and monitoring, cash management, general ledger management and reconciliation, student aid refunds, sourcing and contracting, accounts payable and receivable, and other financial functions.
- Requirement:
•    The contractor must rapidly assess and make recommendations to stabilize the current fiscal operations of the agency.  
•    The contractor will have access to all recent evaluations, reports, and other products that have been produced to inform its initial fiscal operations assessment. 
•    The assessment and recommendations must include the following:
o    Provide a comprehensive review of existing operations with priority focus on accounts payable, business and credit card utilization, proper recording of financial transactions, and financial statement preparation.
o    Provide immediate staff to supplement existing agency staff.
o    Review cash flow statements and other work completed by the financial services organization previously employed by the agency.
o    Conduct an assessment of the agency’s fiscal organizational structure and an assessment of the information technology processes supporting the agency’s fiscal operations.
o    Reconcile the agencies and its associated foundation accounts.
o    Provide additional work the contractor determines is necessary to accomplish the contract’s goals with no additional cost to the agency.
•    The contractor must immediately assume operational control of fiscal functions where deficiencies exist.
•    Develop an organized implementation plan, with detailed timelines that are subject to agency approval, to implement structural solutions to address observed deficiencies, and move the financial organization to a steady state environment.  
•    Provide supplemental support to the agency as needed to maintain steady state operations.