Financial Statement Compilation Services

The Vendor is required to provide annual financial statements in accordance with accounting principles generally accepted in the country.
- Requirement:
•    Gain an understanding of the center’s financial activity. 
•    Create the accounting entries necessary to convert the center’s financial activity from cash basis to accrual basis accounting. 
•    Compile the June 30, 2026, financial statements and accompanying footnotes for the center in a format acceptable for:
o    Annual financial statements in accordance with generally accepted accounting principles as prescribed by the governmental accounting standards board for a discretely presented component unit for inclusion within the commonwealth of state annual comprehensive financial report (ACFR). 
o    Annual financial statements compliant with governmental accounting standards board’s format requirements for presentation to the center, tourism, arts, and heritage cabinet, finance and administration cabinet, and the auditor of public accounts.
•    Compile the annually required component unit closing package to be submitted to the finance and administration cabinet, office of the controller. 
•    Assist with the coordination and replies to the auditor of public accounts (APA), and an outside audit firm during the audit of the center’s financial statements. 
•    Perform all other duties for the preparation and delivery of financial statements. 
•    Compile accrual basis statements and supplementary information which include:
o    Table of contents
o    Management discussion and analysis (MD&A)
o    Statement of net position
o    Statement of revenues, expenses and changes in net position
o    Statement of cash flows
o    Required note disclosures to the above financial statements, including but not limited to:
1.    Organization
2.    Summary of significant accounting principles
3.    Changes in accounting principles, reporting practices, and prior-period adjustments
4.    Cash, cash equivalents, and investments
5.    Capital assets
6.    Disaggregation of accounts payable
7.    Compensated absences
8.    Retirement plan and employee benefit plan
9.    Other postemployment benefits plan
10.    Related parties.