Current and Future GASB Statements

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. The selected vendor must demonstrate a broad knowledge and experience in GASB accounting and related consulting services to municipal organizations. The scope of work includes adhering to all accounting requirements under current GASB Statements, providing journal entries, handling actions required under current GASB Statements, tracking history, and providing reports for account balance reconciliations. The city is seeking a vendor who can provide knowledge transfer, including all documentation, and prepare details to be included in the notes to the financial statements. • 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.