Accounting Services

The vendor is required to provide certain internal accounting services.
- Monthly service needs include monthly bank reconciliation and timely responses to general accounting questions.
- Annual needs include grant reconciliation, assisting with the update of fixed assets, implementation of new GASB standards and the preparation of necessary audit work papers and journal entries.
- The department’s day-to-day operational functions such as payroll, accounts payable, data entry, monthly journal entries and financial reporting will be retained in-house.
- Duties of the firm. the firm will:
• Provide all deliverables under the direction of the executive director and finance manager to ensure the requirements of this contract are effectively and efficiently performed.
• Such services shall encompass all those duties and functions reasonably and customarily associated with delivery of the services in accordance with township ordinances, laws of the state and best practices established by the governmental accounting standards board (GASB).
• Establish and maintain team-oriented working relationships with the agency elected officials and employees to maximize performance, as well as to ensure financial and accounting requirements are clearly communicated, understood and satisfied for all operations.
• Maintain regular monthly communication with the finance manager to review the schedule of required accounting services which will support the smooth operation and administration of the contract.
• The firm may perform on-site work during standard work hours of 8:00 a.m. and 4:30 p.m., Monday through Friday.
• Virtual work can be performed outside of these hours but must be proactively communicated to the finance manager.
• The firm’s availability must support the time requirements listed below.
• These hours would be in addition to questions as needed throughout the year and the regular monthly bank reconciliation that is due within the first ten days of the month.
o January- approximately five hours for year end.
o March- approximately forty hours for audit prep.
o April – approximately ten hours the week of the onsite audit.
o December- approximately five hours for year end.
• At a minimum, the staff provided must possess the following qualifications and knowledge of:
o Generally accepted accounting principles (GAAP);
o Governmental accounting standards board principles (GASB);
o Methods and techniques applicable to advanced financial analysis;
o Principles and practices of internal control;
o Operations, services and activities of accounting programs including financial reporting;
o Principles and practices of general ledger preparation, maintenance and reconciliation;
o Principles and procedures of financial record keeping and reporting;
o BS&A accounting software, microsoft excel, microsoft word and microsoft teams. • The firm shall perform the following accounting services:
o Provide guidance with the maintenance of the general ledgers for the agency in accordance with applicable laws, guidelines, standards and best practices for municipal accounting, including but not limited to generally accepted accounting principles (GAAP), board.
o Perform monthly bank reconciliations within the first ten days of the following month.
o Provide oversite on accounting for capital expenses to be reimbursed by a $25 million bond held by the charter township for the purpose of completing parks capital projects.
o Assist and guide the finance manager through the audit preparation process.
o Prepare and provide information, schedules and reports for the external auditors as needed.
o Assist with the annual recording of grant records.
o Assist with the annual maintenance of fixed asset records.
o Reconcile balance sheet accounts on an annual basis such as accounts receivable and accounts payable.
o Reconcile and maintain debt service accounts and related schedules.
o Annual GASB 87, 96 and 101 accounting entries and reconciliation.
o Implementation and annual completion of new GASB pronouncements
o Other accounting services as requested by the finance manager or executive director
• Duties of the agency
o Provide the firm’s staff with a reasonable work space for onsite work and virtual access as needed.
o Provide training on software, utilization of our network, processes and procedures, and policies.
o The executive director and finance manager will be available for any questions.