Accounting Services

Background

The California School Finance Authority (CSFA) is issuing Request for Proposals (RFP) No. CSFA02-26 for Accounting Services. The goal of this contract is to assist in completing Conversion Entries to transition CSFA's Budgetary Legal Basis financial statements to Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB) standards, fulfilling obligations under Government Code sections 5871 and 5872, and meeting the Office of the State Controller's minimum auditing requirements.

Work Details

The selected contractor will provide the following services: 1. Assist CSFA/STO staff in transitioning fund financial statements from Budgetary Legal Basis to GAAP/GASB standards, including preparation of a detailed reconciliation workbook that reconciles governmental fund balances reported in FI$Cal to GAAP/GASB balances, identifies necessary adjusting journal entries, and presents final adjusted governmental fund balances. 2. Prepare conversion entries required for Financial Reporting under GASB 34/103. 3. Assist in reviewing the Management Discussion and Analysis letter for annual financial statements using GASB 34/103 reporting model. 4. Provide general accounting advice as needed. 5. Provide guidance on routine and complex governmental accounting transactions, year-end adjusting entries, accruals, and answer technical questions regarding financial statement components such as revenues, expenses, receivables, payables, and loans. 6. Provide official literature on relevant accounting standards for GASB and FASB and assist in implementing new GASB standards affecting accounting operations.

Period of Performance

The term of the agreement will be two years starting from August 1, 2026 through July 31, 2028, with an option for one additional year at the State's discretion.

Place of Performance

The services will be performed at the California School Finance Authority located at 300 S. Spring Street, Suite 8500, Los Angeles, CA 90013.

Bidder Requirements

Proposers must meet the following qualifications: - An office established in California. - Qualified to do business in California. - A professional certified public accounting firm with at least three years of experience. - Conducted services related to the scope of work within the last five years. - Be a publicly traded corporation or subsidiary principally marketed for public trading in the US. - Have sufficient resources to meet deadlines outlined in the Scope of Work.