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REQUEST FOR PROPOSAL: Non-Profit Bookkeeping/Accounting Services

 
 
 
REQUEST FOR PROPOSAL
 
 
NON-PROFIT BOOKEEPING / ACCOUNTING SERVICES
 
 
RFP NUMBER
21-20
 
 
 
 
Date of Issuance: July 23, 2021, 3:00 p.m. (CST)
Written Questions Due By: August 2, 2021, 3:00 p.m. (CST)
Responses to Questions: August 4, 2021, 5:00 p.m. (CST)
Proposals Due: August 9, 2021, 5:00 p.m. (CST)
 
 
 
Buda Economic Development Corporation 
405 East Loop Street, Bldg. 100-EDC 
Buda, Texas 78610
 
 
 
 
ISSUED BY: 
Buda Economic Development Corporation 
405 East Loop Street, Bldg. 100-EDC 
Buda, Texas 78610
Phone: 512-295-2022
 
 
PUBLIC NOTICE
 
BUDA ECONOMIC DEVELOPMENT CORPORATION
REQUEST FOR PROPOSALS
 
NON-PROFIT BOOKEEPING / ACCOUNTING SERVICES
RFP NO: 21-20
 
I. Statement of Purpose
City of Buda 4B Development Corporation ("BEDC"), a Texas nonprofit economic development organization in Buda, TX, seeks proposals for contracted bookkeeping and accounting services. All applicants must have relevant nonprofit experience, particularly accounting for organizations receiving government funding.
II. About the BEDC
BEDC’s mission is to provide leadership in creating and pursuing balanced economic growth, by recruiting and retaining desirable, diverse businesses, developing infrastructure, while protecting the quality of life and natural resources of the region.
BEDC was established in 2001 and is a Type B EDC created under sections 501, 504 and 505 of the Texas Local Government Code. The BEDC is the lead economic development entity for Buda.
As BEDC’s program services have grown, its bookkeeping and accounting needs have become more complex. The agency is funded by a dedicated half-cent sales tax, which has strict requirements for compliance, reporting, and internal controls. Timely reconciliation of monthly financials is of the utmost importance to ensure steady cash flow and compliance with the City.
III. Scope of Work
 
PLEASE NOTE: Your firm must respond to all elements of the Scope of Work.
 
One-Time Migration and Set Up
Migration of Quickbooks desktop to Quickbooks cloud-based version, including set-up, data accuracy verification, and staff training, if needed.
Identify areas for review by the Executive Director regarding process and practice to improve efficiency and ensure compliance.
Bookkeeping Services
Input all necessary transactions (GL, AR, AP, Cash, Other), working on an accrual basis, with information on revenue, expenses and receivables provided by the Buda EDC staff.
Input all Approved Incentive Requests per authorized Performance Agreements.
Maintain costs by program and/or budget designation.
Amortize Pre-paid expenses monthly.
Prepare the monthly reconciliation of all bank accounts, bank cards, as well as reconciliation of all balance sheet accounts; reconciles financial discrepancies by collecting and analyzing account information.
Monitor release of restricted funds, if needed
 
Financial Reporting
Prepare a monthly Budget to Actual Summary and Budget to Actual Detail report out of Quick books.
Prepare monthly Comparative Statements of Financial Position and Statement of Activities report.
Prepare compiled monthly financial statements and supplementary information.
Prepare any other reports or statements as requested by the Board or Executive Director.
Meet with the BEDC Executive Director and/or BEDC Board Treasurer on a monthly basis to review statements, discuss account receivables, review any incentive requests, and discuss other pertinent topics.
Attend Board meetings where appropriate to provide financial guidance to the Board of Directors.
 
Budget Preparation
Provide assistance to the Board and Executive Director with the preparation of an annual budget. 
Input the adopted budget into Quickbooks.
Assist with periodic budget amendments and enter amendments in to Quickbooks.
 
Audit Preparations
Participate in financial audits and reviews, including document preparation and onsite support if needed.
Work with auditor to prepare requested schedules and answer questions related to the audit. Audit preparation includes aging account receivables, trial balance, profit & loss statements, general ledger prep, and other tasks as requested.
 
 
Reporting Requirements
Prepare periodic reports as required by the Executive Director and/or the BEDC
Board of Directors
Maintain fixed asset inventory and depreciation
Prepare all required tax filings for related entities and transactions
Prepare all 1099 and 1096 filings as needed
Prepare any other federal, state or local tax filings as required
 
Real Estate Accounting Services (REAS) *The BEDC does not currently own any real estate, but is searching for opportunities; *Not required, but a benefit
Monthly invoicing of commercial real estate tenants related to lease payments. 
Tracking real estate spending by project and providing reporting of actual to budget spending as requested 
Track Asset Management related to commercial properties AP/AR, capital spending, and operating expenses.
Term of Contract
Initial contract will be for 1 year with an option to extend the contract for 3 one-year contract periods.
 
Fees and Hourly Rates
Buda EDC prefers monthly cost for services; please provide projected fixed cost for each of the sections listed under the Scope of Services. Any adjustments, additional expenditures, or other services outside of the scope of this proposal must be pre-approved. Describe your billing rates and procedures for technical questions that may come up during the year, or whether these occasional services are covered in the proposed fee structure.
 
Proposed fee structure for each year of the proposal period, including whatever guarantees can be given regarding increases in future years, and the maximum fee that would be charged. Proposal should be broken into two separate costs: a) monthly accounting and b) audit preparation/preparation of tax returns. 
 
 
Qualifications
Evidence of the firm’s qualifications to provide the above services:
1. Qualifications and related Economic Development experience. Background and experience in nonprofit accounting; 
2. Experience in real estate accounting and investment management if applicable.
3. Statement of the firm’s understanding of work to be performed.
4. Provide a listing of current non-profit and public body clients for which your firm is providing bookkeeping/accounting services.
  
Proposal Submission
Interested and qualified firms are invited to submit proposals, which will be accepted until Monday, August 9, 2021 at 5:00 p.m. The Respondent’s reply must be submitted via email to the authorized contact person: 
Traci Anderson
Executive Director
Phone: 512-295-2022
 
Proposal text should be presented at a minimum in 12-point font size. The proposal document should follow the sections outlined below. 
 
1. Cover Page
The title page must include, at a minimum:
The title of the RFP;
The RFP due date;
The Proposer’s name (person, organization and firm);
The name, title, phone number and address of the person who can respond to
    inquiries regarding the reply; and 
The signature of the Proposer with authorized signatory
 
2. Table of Contents
Include a clear identification of the material included in the proposal by section and page number.
 
3. Executive Overview
Understanding of Scope of Services - Responses must include information showing the Proposer’s understanding of the needs specified in this RFP and must include a positive commitment to perform the work.
 
Company Qualifications - Describe the Proposer’s experience in performing services as specifically represented in this solicitation. Proposer should provide detailed evidence that the Proposer’s firm has previous experience with engagements of similar scope and range as the engagement specified in this RFP. Give the location of the office from which the work is to be done and the number of partners and other professional staff employed at that office. Describe the range of services offered by the Proposer and indicate the length of time that the Proposer has provided the services described above. 
 
4. Strategic Approach
The Proposer must submit a comprehensive description of their engagement work plan as part of their reply. The plans may include narratives, work programs, tables, or other illustrative disclosures that demonstrate aptitude for management and completion of this engagement.
 
5. Comparable Projects
Provide a detailed description of comparable projects (similar in scope of services to  those requested herein) which the Proposer has either ongoing or completed within the  past three years. Where possible, list and describe those projects performed for similar size, public or private entities and any work performed for the BEDC. Please specify whether each project is completed or ongoing. The description should identify for each project:
The client
A description of work
The duration of project
The contact person and phone number for reference
The results /deliverables of the project
 
6. Experience and Qualifications
Specify the number of years the Proposer has been in business. Identify the Proposer’s   qualifications to perform the services identified in this RFP. Submit resumes on the personnel including partners and managers assigned to this engagement describing their education, training, and work experience. The Proposer should provide evidence that each person submitted for this project has previous experience with similar tasks on other equivalent engagements. Proposer should identify the specific individuals who would serve on a day-to- day basis as a primary point of contact and be responsible for the work product of the Proposer. 
 
7. Price
Include the proposed budget and fees. Provide a detailed list specific to the Scope of Services provided herein. 
 
8. References
List a minimum of three (3) references in Texas for which the Proposer has provided bookkeeping/accounting consulting services. Include the name of the organization, brief   description of the project, name of contact person telephone number and email address.
 
 
EVALUATION CRITERIA
The Finance Committee shall rank all proposals received that meet the submittal requirements. The Award shall be made to the responsible Proposer whose proposal is determined to be the most advantageous to the Buda EDC as determined by the Board of Directors of the Buda EDC, in its sole discretion.   The following criteria shall be used in the evaluation. The Finance Committee will evaluate and rank responsive proposals on the criteria listed below. The maximum score is 100 points. A proposal must achieve an overall score of at least 70 points to be considered for selection and contract award.
 
 
 
CONSIDERATION ITEMS MAX POINTS
Requirements
“No” marked in any category indicates the proposal is not responsive and will not be considered.
a. Was the proposal received by the due date & time? Yes _______ No ______
b. Was the proposal presented in the required format, all questions in this RFP
answered?
Yes _______ No ______ Mandatory
 
Qualifications
• Experience in performing services as specifically represented in this solicitation
• Previous experience with engagements of similar scope and range as the
engagement specified in this RFP
• Location of the office from which the work is to be done and the number of
partners and other professional staff employed at that office
• Range of services offered by the firm
• Length of time that the Proposer has provided the services it provides 35
 
Resumes and Experience
• Resumes and Experience of Key personnel assigned to this engagement 25
 
Engagement Planning and Execution
• Comprehensive description of the Proposer’s engagement plan that
demonstrate aptitude for management and completion of this engagement. 15
 
Price
• An explanation of the Proposer’s price breakdown for services to be
performed. 15
 
Other Criteria
• References 10
 
TOTAL POINTS
100
 
 
Selection Process
This RFP is not a bid.   The Buda EDC reserves the right, in its sole discretion, to reject all responses, amend and reissue a subsequent RFP or not, or terminate this process at any time as may be in the Buda EDC’s best interests.   The Buda EDC may reject a response to the RFP if it does not specifically respond to the RFP.   Proposals will be reviewed for completeness, proper experience, experience with previous similar work, excellent references, and reasonableness of cost proposal.   Interviews may be requested with selected firm(s).   The final selection and award of any contract rests solely within the discretion of the Board of the BEDC. The BEDC shall have no obligation to award any negotiated contract.   Additionally, please note that all EDC expenditures, including contractual obligations, are subject to the approval of the City of Buda City Council.  
 
 
Complete proposals are due by 5:00 pm on Monday, August 9, 2021.   
 
The selected firm will  be notified in writing by August 16, 2021.   Work will begin as quickly as possible, but no later than August 30, 2021.
 
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