The vendor is required to provide financial monitoring services for areas such as accounting systems, disbursements, payroll, procurement, and cost allocation, providing written reports with findings and recommendations.
- Compliance knowledge and expertise
• Demonstrate knowledge of federal uniform administrative requirements, cost principles, and audit requirements for federal awards.
• Ensure familiarity with the state uniform grant management standards.
• Possess a thorough understanding of the requirements for auditing public funds, including experience with public and community-based organizations, as well as public/private colleges and universities.
- Audit and review experience
• Conduct financial audits and reviews, for public and nonprofit organizations, with an emphasis on those operating with federal workforce dollars.
• Conduct reviews and audits for large and small organizations to ensure compliance with regulatory requirements.
- Principal qualifications
• At least one principal of the firm must hold a certified public accountant (CPA) license in the state.
• If the proposal is submitted by a firm, the firm must have a current firm license and be registered with the state board of public accountancy.
- On-site and virtual presence
• Attend frequent, onsite and/or virtual meetings with agency staff as needed during the financial review and monitoring process.
- Attention to detail and documentation evaluation
• Demonstrate exceptional attention to detail and the ability to interpret and evaluate complex documentation.
• Conduct thorough documentation review, ensuring accuracy and completeness in all financial records and reports.
- Review areas:
• Written accounting policies and procedures
• Accounting systems and controls
• Accounting system transactions
• Personnel policies and procedures
• Payroll, time sheets, and salary allocation
• Disbursements
• Payments to participants
• Travel policies and procedures (including transaction testing)
• Procurement policies and systems
• Inventory policies and procedures, systems and controls
• Subcontracts and inventory controls
• Financial reporting (billings to agency)
• Cost allocation plans
• Budgeting
• Obligations and encumbrances
• Cash management
• Compliance with contractual and regulatory requirements
• Audits
- Contract Period/Term: 1 year
- Pre-Proposal Conference Date (Non-Mandatory): March 18, 2025
- Questions/Inquires Deadline: March 20, 2025