Request for Proposals (RFP) Professional Financial Statements and Accounting Services

City of King City
Request for Proposals (RFP) Professional Financial Statements and Accounting Services
Proposals Due by 2:00 p.m. Pacific Time, Wednesday, July 31, 2024

Notice is hereby given that the City of King City (“City”) is requesting proposals from qualified, certified public accounting firms, duly authorized to practice as such by the State of Oregon, to provide Financial Statements and Accounting Services for the City of King City, which will be comprised of the monthly and fiscal year Statement of Assets, Liabilities and Equity – Modified Accrual Basis and the related Statement of Revenues and Expenditures, Modified Accrual Basis of the City as of the appropriate months and confirm the accuracy or completeness of the information provided to the firm. The City uses Caselle for the general ledger, Xpress Bill Pay for Cash receipting, and ADP for payroll. The firm will need to be familiar with all the systems. 

The City’s Comprehensive Financial Statements and Accounting Services will be for one (1) year, starting with the fiscal year 2024-2025, with an option to extend the Contract for two (2) additional one (1) year terms.

The City’s expectation of any respondent the City contracts with is that the respondent’s values align with the City’s values of highly ethical conduct, fiscal responsibility, and responsiveness to the City’s residents, customers, and stakeholders.

The scope of work for Professional Financial Statements and Accounting Services will include:

  • Expert in accounting and financial reporting, providing advice and recommendations to Management with effective verbal and written communication skills.
  • Perform and supervise a wide variety of accounting and financial analyses, including trial balance analysis.
  • Assist with financial projects or tasks requested by the City Manager, including System Development Charge requirements and Master Fee schedule review.
  • Coordinate and manage the City’s monthly and annual financial closing processes.
  • Support the preparation of the City’s financial reports.
  • Assist with the interpretation and implementation of new accounting standards and other relevant regulatory requirements, including communication to Management and City Council.
  • Prepare portions of annual financial statements and related notes and disclosures; interpret and apply laws, rules, regulations, and fiscal policies and procedures.
  • Provide support for the preparation of financial statements and budget development through reconciliation of various balance sheet accounts, AP clearing accounts, accounts payable, and other general ledger accounts if needed.
  • Examine financial records to ensure accuracy.
  • Perform monthly general ledger closing coordination, including deferral and accrual activities.
  • Prepare entries to maintain the fixed asset ledger and accounting summaries and analysis reports for capital projects.
  • Perform special projects as assigned by the City Manager. This would include but not limited to Conduct financial planning and analysis for projects and staffing, Support and work with City Auditors if needed,
  • Attend the following meetings:
    • Monthly progress report meetings with key firm personnel and City financial management staff, if needed.
    • City Council meetings, If needed.
  • Provide general financial technical assistance throughout the fiscal year, including answering accounting, reporting, and internal control questions.
  • Perform procedures involving required supplementary information as mandated by Statements on Standards for Accounting and Review Services (SSARSs), Governmental Accounting Standards Board (GASB), Generally Accepted Auditing Standards (GAAS), American Institute of Certified Public Accountants (AICPA), Government Auditing Standards (GAS), Government Accountability Office (GAO) if applicable, and requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133, Compliance Supplement.
  • Provide support for the preparation of financial statements and budget development through reconciliation of various balance sheet accounts, AP clearing accounts, accounts payable, and other general ledger accounts if needed.
  • Coordinate work related to independent audit preparation and discuss the application of appropriate accounting principles if needed.

The Request for Proposals can be downloaded from the City of King City website at https://www.ci.king-city.or.us/bid_posting/index.php. It is imperative that those who download the solicitation documents check the website regularly for addenda, clarifications, and other notifications that may be pertinent. In addition, all respondents known by the City of King City to have received a complete set of the Proposal Documents will receive notification when additional items are posted. Please email rsmith@ci.king-city.or.us to be added to the Interested Respondent’s list or for additional information regarding this RFP or future RFP.

Proposals shall be submitted either in a sealed envelope or by email, plainly identifying the RFP and respondent’s name and address. Proposals shall be delivered to the City of King City, City Hall, Attn: Mike Weston, City Manager, 15300 S.W. 116th Avenue, King City, Oregon 97224 or emailed to mweston@ci.king-city.or.us; cc: rsmith@ci.king-city.or.us.   

Proposals will be received until 2:00 p.m. on July 31, 2024 Pacific Time, for the purpose of selecting a respondent to provide Financial Statements and Accounting Services to the City. Proposals received after the deadline will not be considered and will be returned unopened to the respondent(s).

The City may reject any proposal not in compliance with all prescribed solicitation procedures and requirements and other applicable law and may reject any or all proposals in whole or in part when the cancellation or rejection is in the best interest of the City, and at no cost to the City.

DATED THIS 30th DAY OF JUNE, 2024

PUBLISH:                Daily Journal of Commerce

                                Business Tribune

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