Finance Budget Software

The Vendor is required to provide for financial budget reporting software for 2025, with a project budget of $100,000. It outlines the requirements, essential features, potential integrations with existing applications, user accessibility, reporting capabilities, and user training.
- The timeline for the proposals is set for 2025, aiming for implementation by the first quarter of 2026 to be able to prepare the 2027 budget.
- Finance budget reporting software requirements focus on streamlining financial planning and management for each business unit. 
- These requirements aim to improve efficiency and accuracy over financial resources and planning. 
- The software is to help with tasks like budgeting, forecasting, financial analysis, and reporting, ultimately supporting data driven decision-making.
- This anticipated application will use AI and automation to track financial transactions, categorize income and expenses, monitor cash flow, and compare actual spending against a set budget.
- The key functions associated with the required software application are as follows:
•    Budget Creation
•    Automated Transaction Tracking
•    Expense Categorization
•    Cash Flow Monitoring
•    Reporting and Analysis
•    Goal Setting and Planning
•    Forecasting
•    AI and Automation
- The potential software options associated with the application are as follows:
•    Euna / questica
•    Citywide
•    Customized for Capital
- Number of Users
•    8 to 10 Staff: These users will have the ability to add, modify, change, and delete data. This group includes Finance Staff, Capital Budget, Payroll, and HR.
•    20 to 30 Staff: These users will have view-only access.
- The requirements needed for this software application:
•    Integration: the software must integrate with JDE (on SQL DB) and other town applications (aims, TXM, FME, etc.).
•    Cloud-based: it should be a cloud-based application hosted in state to ensure data residency.
•    Attachments and export: the software should accept attachments, export data to excel, and connect to SharePoint for attachment storage and document sharing.
•    Real-time monitoring: live expense tracking and budget monitoring capabilities are crucial for preventing overspending and making informed decisions.
•    Accurate reporting: the software should generate clear, concise, and customizable reports to provide insights into financial performance and trends.
•    Usability: it should be easy to use, input information, and provide easy reporting and dashboarding.
•    Tracking and reporting: the software must track changes, incorporate capital multi-year budget planning and reporting, operating multi-year planning & reporting, and provide dashboards, reports, and charts.
•    Budget book: it should build a yearly budget book, add notes and comments, and provide city details.
•    Collaborative approach: enable teamwork and collaboration of financial documentation to promote efficient financial planning and management.
•    AI and automation: the software should include AI searches and automation of tasks and provide specific reporting for the council.
•    Accessibility: everyone should be able to run reports, review, and verify numbers in real-time.
•    Data entry: the software should allow data entry or pull from existing integrations, create a multi-year budget, upload from excel, and export to pdf.
•    Drill down: it should have the ability to drill down into each item or line item.
•    Centralized approach: all budget activities are captured and maintained in a single application to streamline processes.
•    User training: the software should provide user training, including a training manual, video recordings, quarterly reviews, and ongoing support.
•    Security: the software must include security features such as SSO and various admin roles.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: October 28, 2025