Current and Future GASB Statements

The City of Cleveland’s Department of Finance, through its Division of Financial Reporting & Control (FRC), has issued a Request for Proposal (RFP 2025-RFP-117) seeking professional consulting services to assist in the implementation and ongoing compliance with current and future Governmental Accounting Standards Board (GASB) Statements. This engagement supports the preparation of the City’s Annual Comprehensive Financial Report (ACFR) and related financial statements across several divisions including Water, Public Power, Pollution & Control, Port Control, and Central Collection Agency. The City currently uses CGI Advantage 4.4 as its financial management system and expects consultants to work within this framework unless proposing alternatives. Key responsibilities include preparing transition journal entries, reconciling account balances from disclosures to detailed reports, generating GASB-compliant disclosure reports, maintaining full audit trails, and providing detailed notes to the financial statements with appropriate documentation and knowledge transfer. The RFP emphasizes that vendors must demonstrate recent and extensive expertise in government accounting, specifically knowledge of GASB standards, and the ability to provide continuity in consultant resources throughout the project duration. Proposals must include detailed qualifications and resumes for proposed personnel with clearly articulated project management experience and relevant certifications. The City prioritizes vendors with proven history in delivering similar governmental accounting services within the last two years and capacity to manage the project within schedule and budget milestones. The evaluation criteria allocate equal weight to qualifications, key personnel credentials, and demonstrated ability, with a mandatory pass/fail requirement for compliance with the City’s Office of Equal Opportunity subcontracting goals that include participation from Cleveland Small Businesses (CSB), Minority Business Enterprises (MBE), and Female Business Enterprises (FBE). The contract type is firm fixed price, with no pricing details publicly disclosed, and proposals must be submitted by December 30, 2025. Administrative provisions include strict adherence to the City’s equal opportunity, non-discrimination, and affirmative action requirements, along with comprehensive insurance obligations including cyber liability coverage when accessing City data. The contract requires submission of certified payroll and employment reports, participation in monitoring with the City’s Office of Equal Opportunity, and inclusion of nondiscrimination clauses in all subcontracts. Vendors must submit signed certifications, including a non-collusion affidavit and OEO subcontracting schedules, with incomplete submissions resulting in rejection. The City maintains the right to terminate the contract at will with written notice. Invoicing is monthly, payable within 30 days after receipt, and proposals must be uploaded via the City’s procurement portal, adhering to a detailed submission format including executive summary, staffing