Education Finance Compliance and Monitoring System

The Vendor is required to provide for an integrated management, validation, and database system for school financial data.
- An updated financial data management system that will be used for the purposes of collecting, managing, analyzing, and reporting for 266 school administrative units (SAUs) financial data per statute.
- This system will be required to be interoperable with many current and future software systems the Department has or will have in place.
- This work is comprised of multiple processes, which are currently housed in multiple systems or performed manually, and includes: retrieving and validating educational financial data, providing reports and analysis of the financial data, and tracking annual audits from subrecipient of state and local funds. 
- The Department is interested in a comprehensive user-friendly system that can consolidate these processes into one system that is reliable, secure, and accurate while also being interoperable with multiple internal and external systems.
- School and Municipal Audit Collection and Tracking (Manual Process)
•    Annual financial audit collection: annual audit collection from subrecipient is currently completed through email submissions.
•    Annual financial audit tracking: annual audit tracking and reporting from subrecipient is currently completed in an excel workbook.
•    Annual financial audit communication: audit communication is currently completed through email.
•    Annual financial audit finding tracking: annual audit findings for each subrecipient, and any corrective action required by the subrecipient to resolve those findings, is completed through excel.
•    Financial report storage: multiple years of school and municipal audits are currently stored in network drives.
•    Subrecipient risk assessment: annual subrecipient risk assessments are calculated for each federal program in excel.
•    Annual financial audit status: status reports on audits collected, and those overdue, are reported through email to inform potential withholding of monthly subsidy payments under the essential programs & services (eps) funding formula.
- School unit financial data collection (Automated & Manual Processes)
•    User login: currently, login to the financial data collection system is integrated within a state developed and maintained system. 
•    The origin system is provided by an independent vendor.
•    Data collection: financial data collection is currently achieved through uploaded .txt files or manual entry from agency to the state financial data collection system.
•    Automated data validation: financial data is currently validated by the system for multiple criteria, including coding combinations and valid period of submission.
•    Manual data validation: financial data is currently validated by human intervention for items predetermined by the agency staff.
•    Data errors: communication regarding data errors is sent automatically to agency with preprogrammed error messages. 
•    Data errors discovered via manual review are communicated via manual error message entry within the system or via email.
•    Data storage: the system currently stores multiple years of data for both operational and longitudinal data as part of the system.
•    Data reporting: the system currently provides canned reports; ad hoc reports may be created via Microsoft SQL services.
•    Data analysis: data analysis is currently done through extraction of data into excel through Microsoft structured query language (SQL) services.
•    Business rules: financial data code combination business rules, based on state accounting handbook, are both programmed and dynamic, updated by the state in real-time.
•    User/role management: user/role management is administered by the department (agency team).
•    Administrative reports: several administrative reports are available to assess and track timely data collection.
•    Eps formula components: data analysis of specific financial data is exported & calculated in excel and manually shared to be included in the eps funding calculation in a separate state developed and maintained system.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: August 18, 2025