Financial Modeling Software

The vendor is required to provide that financial modeling software to track, forecast, and report revenues and expenditures for the transportation system
- Export historical information from the current access and excel solutions to the new solution.
- Be cloud-based solution with a government-cloud tenant.
- The ability to support the latest publicly available versions of internet explorer, chrome, safari, and Firefox.
- Administrative:
• The current access and excel models used to forecast for department.
• To export data using specified external formats such as excel, access database, and oracle for department
• Provide a representational state transfer (rest) endpoint and guide for agency to consume all data stored in the vendor solution.
• The ability to add comments a manual update is made to assist in understanding why a value changed for department.
• The date and name of the user commenting should be captured as part of this process. comments should be by field or year.
• The ability to identify potential errors or missing data,
- Accounting:
a. Budgeting
• Creating and planning new budgets: The ability to create and modify a new budget.
• Tracking revenue & expenditures: The ability to track all revenues and expenditures.
• Categorize revenue & expenditures: The ability to categorize and subcategorize revenues and expenditures for forecast and actual revenue and expenditures.
• Split fiscal year option: The ability to split a fiscal year into two parts.
• Blended rates: The ability to calculate blended rates (weighted average based on service type).
• Jurisdictions into sub-regions: The ability to categorize jurisdictions into sub-regions (i.e., regional, east, west, central), and counties for organizational and analytical purposes for department.
• Additional jurisdiction & city volume: The ability to accommodate a growing number of cities and vehicles over time for department.
• Editable route cost: The ability to edit the cost of each route for department services.
• Fleet revenue & expenses: The ability to separate and track fleet information for revenue and expenses incurred for department to ensure comprehensive monitoring and analysis of transportation operations.
• Easily distinguish overrides: The ability to easily identify the data that has been edited.
• Contingency funding: The ability for contingencies to be used for specific purposes for department
b. Depreciation
• Manual depreciation adjustment: have the ability for users to manually adjust depreciation calculations for buses; formulas or calculations can be overridden.
- Tracking
• Track funding sources: The ability to track and manage funding sources for department.
• Tracking revenue & expenditures: The ability to track all revenues and expenditures.
• Tracking cities and jurisdictions: The ability to support multiple cities and jurisdictions, allowing valley metro to manage their revenue and expenditure forecasting independently for department.
• Asset tracking: The ability to track all assets by jurisdiction for department.
• Mileage tracking: The ability to track the number of daily and annual miles and costs for each route for both department services.
• The routes should also include an in-service date and a default date of 7/1/year that is updatable.
• Safety & security expenses: The ability to track safety and security expenses separately from other expenses.
• Track funding by geographic entity: Funding sources to be tracked and managed using different geographic entities for accurate financial planning and reporting for department
• Associating assets with projects: The ability to track the project and project details associated with the asset to assist with defining information such as the in-service date for department.
• Auto track cost: The ability to auto-calculate the cost for each route for department.
• Debt service schedule: The ability to track bond/issuance payments by year for department service.
• Maricopa association of governments (mag) funds: provide the ability to track all revenue and expenditures for mag-related expenses separately for department.
• Asset depreciation: The ability to facilitate the tracking of asset depreciation based on the mileage accrued.
• American disabilities act demand services costs from other costs.
• Tracking facility costs: The ability to track the costs of each facility separately.
• Bus stop tracking: The ability to track expenses related to bus stops categorized by jurisdiction for department.
• Route tracking: The ability to track miles associated with each jurisdiction for each route.
• Tracking miles for routes & contractors: The ability to track miles for routes and contractors.
• Modify routes: The user to update route names and numbers as needed for department
• Track days per year: The ability to track the number of days in a fiscal year based on weekdays, full weeks, holidays, and school days.
• Tracking fixed route expenses: The ability to track fixed route expenses separately from other expenses for each jurisdiction for department.
• Single source of record for data: have the ability to support a single source of record for data to accommodate various categories and sub-categories for revenue and expenditures, providing flexibility in organizing and managing financial data based on specific organizational needs for both revenue and expenditures for department.
• Tracking items such as mileage, projects, bus routes, jurisdictions, etc.; for example, enter something once and have the same data populate the solution to eliminate the possibility of the same data getting entered differently causing reports to not populate correctly.
• Fleet revenue & expenses: have the ability to separate and track fleet information for revenue and expenses incurred for department to ensure comprehensive monitoring and analysis of transportation operations.
• Track manual changes: have the ability to track and log manual changes to data within the system, providing an audit trail of modifications to ensure transparency, accountability, and data integrity for department.
• The date and user making the change should also be tracked.
- Forecasting
• Adding forecast revenue & expenditure streams: The ability to forecast new revenue and expenditure streams for department.
• Forecasting & actual adjustments: have the ability to manually adjust forecasting and actual costs and mileage; formulas or calculations can be overridden.
• long-term data forecasting: The ability to support long-term (30 years minimum) forecasting for department.
• Annual data forecasting: The ability to forecast annually for department.
• Forecast & actual data: The ability for the user to easily identify the forecast vs. actual data for department.
• Forecasting variable: The ability to allow forecasting using a variable percentage or a set amount for escalation and growth for r department.
• Categorize revenue & expenditures: The ability to categorize and subcategorize revenues and expenditures for forecast and actual revenue and expenditures.
• Department table: The ability to provide department revenue (prop 400/479 money) information including department for forecasting and extended forecasting along with updating to actual budgets for department.
- Contract Period/Term: 12 Month