State of Connecticut Comptroller's Requests for Proposals - Financial Management and Reporting Assistance

REQUEST FOR PROPOSALS (RFP)
FINANCIAL MANAGEMENT AND REPORTING ASSISTANCE
OFFICE OF THE STATE COMPTROLLER
MAY 30, 2000

I.STATEMENT OF OBJECTIVES

The purpose of this RFP is to solicit proposals for assistance to the Office of the State Comptroller in various areas pertaining to statewide accounting, cost accounting, and financial reporting. Such assistance shall include tasks relating to the yearly preparation of a Comprehensive Annual Financial Report (CAFR) for the State of Connecticut prepared in accordance with Generally Accepted Accounting Principles (GAAP) as prescribed by the Governmental Accounting Standards Board (GASB). On-site assistance is desired relative to the implementation of the reporting compliance requirements of GASB statements #34 and #35. Technical assistance may also be required in the conversion of the computerized Central Accounting System to Enterprise Resource Planning software.

II. BACKGROUND

The Office of the State Comptroller (OSC) is responsible for all aspects of statewide accounting, cost accounting, and financial reporting. The OSC prepares and issues the CAFR for the State of Connecticut, which includes General Purpose Financial Statements (GPFS) providing an overview of the financial position and operating results by fund type. Also included are an introductory section, combining statements, and a statistical section. Commencing with Fiscal Year 2002, the CAFR will incorporate the additional reporting requirements of GASB statements #34 and #35.

The GPFS, which are subject to audit by the State's Auditors of Public Accounts, include all funds and account groups for which the state exercises "oversight responsibility" as defined by GASB's Codification of Governmental Accounting and Financial Reporting Standards.

The state's accounting, cost accounting, and financial reporting functions are performed by a full-time professional staff of thirty employees within the Budget and Financial Analysis Division of the OSC. Requisite accounting data is collected and maintained on the state's computerized Central Accounting System. The CAFR must be published within six months of the close of the fiscal year, which occurs on June 30^th. The information required for the CAFR is primarily collected through the Central Accounting System, state agencies, the State Treasurer's Office, and independently audited component unit financial reports. OSC has been awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association each year since 1989.

The OSC has a performance audit program as part of its oversight responsibilities. Employees have received training in performance audit techniques and standards.

OSC is currently in the process of converting the state's core financial systems from proprietary software to Enterprise Resource Planning software. The major financial applications involved in the conversion are accounting, payroll, and personnel. Conversion is expected to be completed for Fiscal Year 2004 operations.

The OSC has utilized consulting services in past years on an as-needed basis.

III. SCOPE OF WORK

OSC wishes to contract with a consultant with substantial expertise in governmental accounting, financial management, and auditing. The selected consultant must be able to provide assistance in the implementation of GASB pronouncements and in the application of GAAP to the state's financial reporting environment.

The contract will be for the four-year period, July 1, 2000 to June 30, 2004, as follows:

Year 1	July 1, 2000 to June 30, 2001
Year 2	July 1, 2001 to June 30, 2002
Year 3	July 1, 2002 to June 30, 2003
Year 4	July 1, 2003 to June 30,2004

The contractor will be expected to provide assistance on an "as-needed" basis for services that will entail:

Oral/written technical advice with regard to the implementation of GASB statements #34 and #35 and other GASB pronouncements as may be promulgated in the future including responses to Discussion Memoranda and Exposure Drafts.

On-site work to meet the administrative and processing requirements attendant to the implementation of GASB statements #34 and #35 and other GASB pronouncements as may be promulgated in the future.

Oral/written technical advice with regard to the practical application of GAAP to the state's financial reporting environment.

Assistance in reviewing the state's CAFR prior to publication for conformity with GAAP disclosure requirements and the standards of the Government Finance Officers Association for the Certificate of Achievement for Excellence in Financial Reporting.

Assistance in preparation and implementation of Statewide Internal Control Directives.

Advise in compliance procedures for federal mandates that impact state accounting and financial matters.

Consultation and technical support in ensuring that the conversion of the state's automated Central Accounting System to Enterprise Resource Planning software is consistent with the legal accounting and financial reporting requirements of OSC.

Consultation and technical support in other areas of financial reporting, financial management, and financial oversight as may be mutually agreed upon.

IV. EXPECTED RESULTS

Timely review of the state's present financial reporting environment and development of recommendations and a time table to assist the state in its implementation of the provisions of GASB statements #34 and #35.

Availability of on-site consultants to assist OSC in meeting the daily administrative and processing requirements attendant to the implementation of GASB statements #34 and #35.

Timely review of past CAFR's by consultant with recommendations for changes both to improve compliance with GAAP and to meet the Government Finance Officers Association Certificate of Achievement requirements.

Timely review of annual CAFR's prior to publication to ensure GAAP and Certificate of Achievement compliance.

Timely review of the state's present automated Central Accounting System and availability of consultants to provide technical assistance and advise in the conversion of the system to Enterprise Resource Planning software.

Timely written notification to the state of significant GASB or other government finance issues that will impact the state's financial reporting or financial management.

Availability of consultants to provide technical assistance to the state on various government finance issues as they arise.

V. PROPOSAL SUBMISSION REQUIREMENTS

Each firm that wishes to be considered for the contract shall submit seven (7) copies of their proposal to be delivered to the following address no later than 3:00 p.m. (local time), Monday, June 26, 2000.

John Clark

Director, Budget and Financial Analysis Division

Office of the State Comptroller

55 Elm Street, Room 601

Hartford, CT 06106

(860) 702-3350

Proposals must include the following:

Title Page

The title page must indicate the name of the firm, address, telephone number, name and title of the firm's contact person for this response, and the date.

Table of Contents

Letter of Transmittal

The letter must include the name of the individual(s) proposed to serve the state on this engagement, a rationale for the firms ability to provide the requested services to the state, and a statement of positive commitment to the availability of the firm's staff to provide up to 1,000 hours per year of on-site services upon reasonable notification by the state.

Summary of Qualifications

This summary must include the resume(s) of the individual(s) proposed to serve the state on this engagement. All relevant experience of the firm as well as the individual(s) assigned should be detailed within this section.

Firm Profile

The profile must include the size and location of the firm (including the location of the Connecticut office and the number of employees attached to the Connecticut office), the number of years that the firm has been in business, and relevant experience in servicing state and local governments.

References

Names, addresses, and phone numbers of individuals who can serve as references for the firm must be provided. The references provided should have direct experience working with the firm. At its option, the firm may provide sample work to illustrate its relevant experience. The state is not responsible for any costs incurred by any party in responding to this request for proposal.

Cost

The state desires costs to be detailed on an hourly rate basis for professional services. These costs must be inclusive of "other costs" such as travel, clerical, printing, etc. The final contract will be for services on an "as-needed" basis. The maximum hours will not exceed 1,000 hours per year; however, hours will be limited by budgetary constraints.

Contract Compliance

The proposal should include a summary of the bidder's experience with affirmative action. This information should include a summary of the bidder's affirmative action plan and the bidder's affirmative action policy statement.

VI. INSTRUCTIONS TO VENDORS

Vendors who are furnished a copy of this RFP and intend to make a proposal are requested to submit a letter of intent by Friday, June 16, 2000. Those not intending to make a proposal are asked to submit a negative reply.
Questions regarding this request for proposals must be submitted in writing by Friday, June 16, 2000. Those vendors submitting a letter of intent will receive copies of all written questions and answers regarding this request for proposals.
The firm or firms selected as finalists after an initial evaluation may be required to give a presentation to the selection committee.
All responses to this request for proposals must conform to these instructions. Failure to conform may be considered appropriate cause for rejection of the response.
Delivery of responses must be in a sealed envelope or box. The name and address of the vendor must appear on the envelope or box. FAX responses are not acceptable.
Vendors must structure the response as outlined in this request for proposals.
The state of Connecticut is exempt from the payment of excise, transportation, and sales taxes imposed by the federal and state government. Such taxes must not be included in the cost.
The proposal must be signed by an authorized official of the vendor. The proposal must provide the name, title, address and telephone number for individuals with authority to negotiate and contractually bind the company.
All cost estimates will be considered as "not to exceed" quotations.
There will be no bidders' conference.

VII. CONDITIONS

Any prospective contractors must be willing to adhere to the following conditions and must positively acknowledge such intent "to comply with the provisions of Section VII of this request for proposal" in the Contract Compliance section of the proposal submission:

The State of Connecticut reserves the right to accept any or all proposals submitted for consideration. All proposals will remain sealed until the deadline for submission has passed.
Any contract awarded as a result of this request for proposals must be in full conformance with the statutory requirements of the State of Connecticut.
All proposals submitted in response to this request for proposals are to be the sole property of the State of Connecticut and will become subject to the provisions of the Freedom of Information statutes.
Any product, whether acceptable or unacceptable developed under a contract awarded as a result of this request for proposals is to be the sole property of the State of Connecticut unless explicitly exempted under contractual provision.
The timing and sequence of events relating to this request for proposals will be determined by the State of Connecticut.
Any price offerings by vendors must be valid for a period of 120 days from the due date of the vendor's proposal.
Any alleged oral agreement made by a vendor with any agency or employee will be superseded by the written agreement.
The State of Connecticut reserves the right to amend or cancel this request for proposals.
The State of Connecticut reserves the right to reject the proposal of any vendor that is in default of any prior contract for misrepresentation.
The State of Connecticut reserves the right to correct inaccurate awards resulting from its clerical errors.
Proposals are subject to rejection in whole or in part if they limit or modify any of the terms and conditions and/or specifications of this request for proposals.
A vendor, if requested, must be prepared to present evidence of experience, ability, service facilities, and financial standing necessary to meet the requirements set forth or implied in the proposal.
No additions or changes to the original proposal will be accepted after submittal.
By responding, the vendor implicitly states that the proposal is not made in connection with any competing vendor submitting a separate response to this request for proposals, and is in all respects submitted without collusion or fraud. It is further implied that the vendor had no involvement with employees of the Office of the State Comptroller in the development of this request for proposals.
The proposal must include a summary of the bidder's experience with Affirmative Action. This information is to include a summary of the bidder's Affirmative Action Plan and the bidder's Affirmative Action Policy Statement.
It is mutually understood and agreed that the contractor shall not assign, transfer, convey, sublet or otherwise dispose of his contract or his right, title, or interest therein, or his power to execute such contract, to any other person, firm or corporation, without the previous written consent of the Office of the State Comptroller.

VIII. EVALUATION OF PROPOSALS

Each proposal will be evaluated by a screening committee against the following criteria to determine which vendor is most capable of implementing the state's requirements.

Vendor's ability to perform the specified work.

Vendor's understanding of the project and its purpose and scope, as evidenced by the proposed approach and level of effort detailed in the proposal.

Competitiveness of the proposed cost.

Availability and competence or the vendor's assigned personnel.

Conformity with the specifications of this request for proposals.

Demonstration of commitment to Affirmative Action by full compliance with the regulations of the Connecticut Commission on Human Rights and Opportunities.

Presentation to the screening committee.

XI. Rights Reserved to the State of Connecticut

The state reserves the right to award in part, to reject any and all proposals in whole or in part, to waive technical defects, irregularities and omissions if, in its judgement, the best interest of the State of Connecticut will be served.

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