The Vendor is required to provide a software system (none currently in place) that can generate comprehensive financial reports, including balance sheets, income statements, cash flow statements and financial ratios.
- The City is currently faced with high stakes reporting requirements and needs a more sustainable approach to the Annual Comprehensive Financial Report (ACFR) for the City and its two Component Units.
- The City is also planning to implement the Popular Annual Financial Report (PAFR) and the use of the reporting tool would help ensure a seamless implementation process.
- System Requirement:
• Reproducing and rolling forward prior year Annual Reports and Financial Statements.
• Insertion capabilities of charts, graphs, and pictures in the ACFR, CRA & RDA Financial Statements and PAFR.
• Ability to provide financial reports that are ADA-compliant.
• Providing dashboard reporting capabilities for key financial metrics.
• Systems are intuitive and user-friendly, with multiple users having the ability to work within the system at the same time.
• System's ability to access information anytime and anywhere via a web-based platform.
• Providing export options (PDF, excel, csv) for sharing and analyzing reports.
• Ability to attach or link to documents such as Word, Excel, or PDF.
• Including detailed audit logs to track user activities, changes to financial data, and restricted system access.
• Ability to drill down into financial balances to view supporting transaction-level detail sourced from the City’s system of record.
• Solution must be capable of integrating with the City’s existing Tyler Munis Enterprise ERP (On-Prem) environment to support traceability, validation, and reconciliation of financial data.
• Automatic rounding to prevent footing errors due to presence of cents.
• Ensuring consistency in numerical data throughout report across the statements, footnotes, tables and narratives.
• Providing automatic spell check capabilities throughout the application for schedules, tables, and narratives as well as search and replace features.
• Offering customizable workflows, task assignments and tracking, as well as approval processes.
• Offering comprehensive training resources, including on-site or virtual training for city staff.
• Providing ongoing support through various channels (phone, email, live chat) with rapid response times for issue resolution.
• Providing system setup, data migration of FY24 accounting information and forward, from Tyler Munis Enterprise ERP (On-Prem), and go-live support for ensuring successful implementation.
• Ensure a proper backup and recovery plan to protect against data loss.
• Ability to retain reports from year to year and roll forward prior year reports.
• Providing the ability to customize the look of financial reports, including the flexibility to change/update the font, theme, and graphics according to City preferences.
- The system must support encryption of data both in transit and at rest using industry-standard encryption protocols. Proposers shall describe encryption methods used, key management practices, and whether encryption keys are vendor-managed or customer-controlled.
- The system must include a documented backup and disaster recovery strategy. Proposers shall specify recovery point objectives (RPO), recovery time objectives (RTO), backup frequency, and whether disaster recovery testing is performed on a regular basis.
- Contract Period/Term: 3 years
- Pre-Proposal Meeting Date: February 20, 2026
- Questions/Inquires Deadline: March 9, 2026
