Current and Future GASB Statements

Description

The City of Cleveland is soliciting proposals for professional services to assist in the implementation of current and future Governmental Accounting Standards Board (GASB) Statements, and assist in the preparation and calculation of GASB Statements that are already implemented by the City.The selected Vendor must demonstrate a broad knowledge and experience in GASB accounting and related consulting services to municipal organizations.The Vendor must satisfy the following requirements as part of their contract and scope of work.Adheres to all accounting requirements under current GASB Statements.Allows for balances to tie from high level disclosures to detailed reports and schedules.Provide the journal entries needed to transition to the new accounting standard and any entries related to modifications and other reassessment events, if applicable.Handles actions required under current GASB Statements.Tracks history and provides an audit trail for any changes.Provides reports for account balance reconciliations.Provides standard reports to address the disclosure requirements of GASB Statements.Provides continuing disclosure requirements.Provides knowledge transfer to the City, including all documentation.Prepares the details to be included in the notes to the financial statements.While the City intends to proceed with this RFP process, the City does not guarantee that it will contract for any or all intended services described herein. While it is the City's intent to move forward with all components of the project, it may be necessary to focus on those components that have the highest value and/or priority from the City's perspective.