Financial Planning and Analysis Solution

The Vendor is required to provide financial planning and analysis solution will replace city current financial planning processes with a centralized platform supporting operating budgeting, capital budgeting, personnel budgeting, reserve and reserve fund management, grant management forecasting, scenario modelling, workflow approvals, reporting.
- Operating budgeting
• The solution must support the city's annual and multi-year budget process, including template-driven bottom-up builds, pre-populated baseline data, line-item commentary, and variance explanations. It must enable rapid re-forecasting, multi-year rollovers, approval workflows.
- Capital budgeting
• The platform should manage the full capital planning lifecycle, including parent/child project structures, project ranking, validation rules, and multi-stage approval workflows.
• It must support a minimum of 10-years capital forecasting with drill-down/roll-up reporting between projects and departments.
- Reserve and reserve fund management
• The platform must produce individual and consolidated reserve continuity schedules over a 10-year horizon, showing opening balances, contributions, capital withdrawals, transfers, interest accruals, and closing balances.
• Capital project changes must automatically recalculate reserve forecasts in real-time reserve forecast the solution must also support budgeting by internal and external funding sources (e.g., grants, development charges, recoveries, etc.) Providing visibility into available, planned, and remaining fund balances with controls to prevent over-commitment.
- Grant management
• The solution must allow the planning and tracking of grants, allow allocation of grant and non-grant costs enforcing eligibility criteria, allow uses to record multi-year grants, and attach grant submission documentation at the project line level.