Municipal Budget and Accounting Services

Professional Municipal Budget and Accounting Services for the City. Services are to be delivered by a licensed firm with professionals holding Certified Municipal Finance Officer (CMFO) and Registered Municipal Accountant (RMA) certifications.
- Budget Preparation and Management:
• Budget Development: Assist the City in the development, review, and submission of the annual operating and capital budgets, including department-specific resource allocation and long-term financial planning.
• Revenue and Expense Projections: Provide accurate revenue and expenditure forecasts based on historical data, economic trends, and policy decisions.
• Strategic Financial Planning: Work closely with City leadership to develop strategic financial plans that align with the City's long-term goals and objectives, ensuring sustainability and fiscal health.
• Budget Monitoring and Amendments: Monitor actual revenues and expenditures against the approved budget, recommend budget adjustments as necessary, and assist in preparing budget amendments or
transfers throughout the fiscal year.
- Financial Reporting and Accounting:
• Annual Financial Statement (AFS) Preparation: Prepare the City’s Annual Financial Statement in compliance with state laws and regulations, ensuring accuracy and timely submission.
• Annual Debt Statement (ADS) Preparation: Prepare the Annual Debt Statement in accordance with New Jersey state requirements and ensure it aligns with the City's financial status and debt obligations.
• Supplemental Debt Statement Preparation: Prepare Supplemental Debt Statements as required for special financing or debt issuances, ensuring compliance with all state and local regulations.
• General Ledger Maintenance: Maintain the City's general ledger, ensuring the accuracy of recorded transactions and compliance with GASB.
• Bank Reconciliations: Perform monthly bank reconciliations, ensuring all transactions are properly recorded and discrepancies are resolved in a timely manner.
• Single Audits: Manage the preparation and submission of Single Audits for federal grant compliance, ensuring adherence to Uniform Guidance and timely reporting.
- DebtManagement and Issuance Support:
• Debt Issuance: Provide expert guidance on debt structuring, issuance, and management of bonds and other debt instruments for capital projects and other municipal needs.
• Debt Service Monitoring: Monitor all municipal debt service schedules, ensure timely payments, and assist with debt service reporting.
• Rating Agency Representation: Act as the City's representative to credit rating agencies, preparing necessary financial information, presentations, and documents to maintain or improve the City's credit
rating.
• Preparation of Official Statements: Prepare and review official statements for debt issuances, ensuring accuracy, compliance, and transparency to bondholders and rating agencies.