Financial Management and Audit Support Services

The Vendor is required to provide financial management services.
- Financial Operations
• Full-cycle accounting services (e.g., AP/AR, general ledger)
• Monthly reconciliation of all accounts
• Prepare annual 1099s to be issued to board members and other contract labor
• Calculate semi-annual (April & October) payout percentages based on water consumption
• Collect monthly invoices from the member cities by the 15th of the month for the previous month
• Collect all invoices by the 1st of the month (via email and/or Post Office Box)
• Timely semi-annual interest and bond payments are due in June and December
• Annual insurance renewal completed in June and December; Premium is due in May
- Budgeting & Forecasting
• Annual budget development and support
• Quarterly budget revisions and projections
• Variance analysis with written explanations
• Monthly Budget vs. Actual reports
- Financial Reporting
• Monthly financial statements (Balance Sheet, Income Statement)
• Calculate semi-annual (April & October) payout percentages based on water consumption
• Prepare annual 1099s to be issued to board members and other contract labor
• Ad hoc reporting as requested
- Audit Support
• Identify contractor to complete a full forensic audit
• Prepare schedules and documentation for audit
• Act as liaison with auditors
• Respond to findings and assist with corrective actions
- Financial Management:
• Execute all financial tracking, reporting, and audit preparation tasks
• Maintain documentation and compliance standards