Outsourced Financial Services – Center for Public Safety Excellence
Date of Release: June 10, 2024
RESPONSE DATE: July 8, 2024
INTRODUCTION
This Request for Information (RFI), issued by the Center for Public Safety Excellence (CPSE), seeks interest from financial services firms that provide Accounting and/or Auditing and Tax Preparation services. CPSE intends to engage two firms: one to provide outsourced accounting services and one to provide auditing and tax preparation services.
ABOUT CPSE
The Center for Public Safety Excellence (CPSE) is a not-for-profit 501(c)(3) corporation that helps high-performing fire departments and emergency services professionals in their efforts to continuously improve. We do that in three main ways:
- Fire department accreditation, a process in which departments undergo a thorough self-assessment focused on identifying strengths and areas for improvement.
- Credentialing fire and emergency services professionals, instilling the principles of life-long learning and self-accountability and helping them grow and plan for a successful career.
- Education programs and technical advising services offering individuals and departments the information they need to expand their knowledge and capabilities, and stay on the forefront of the profession.
CPSE has an annual budget of $3.5 million. CPSE uses QuickBooks Online as its accounting software, Bill.com for accounts payable, ADP for payroll, and the following merchant services: BluePay, MX Merchant, and WooCommerce. CFAI-Risk is a subsidiary of CPSE and will be the future home for CPSE’s Center for Innovation. CPSE maintains separate financial records for both corporate entities including separate checking and QuickBooks accounts and separate audited financials and IRS 990 filings. CPSE has $2.5 million in investment assets split between a reserve account and reinvestment account. CPSE has a small number of international customers and vendors requiring occasional international currency transactions.
CPSE is a remote-first workplace with only a small office footprint in a co-working space in Reston. All financial records are maintained electronically in CPSE’s SharePoint. CPSE has eight full-time staff and 40 contractors. Click here to learn more about CPSE.
SUBMITTAL DEADLINE AND REQUIREMENTS
Interested firms must prepare and submit all required documents no later than 5:00 p.m. (EDT) on Monday July 8, 2024 by email to pbassi@cpse.org. Late proposals will not be reviewed. Questions about submissions should be sent at least ten days in advance of the deadline to pbassi@cpse.org. Responses to questions will be posted.
As part of their submittal, interested firms shall submit the following documentation:
- Description of firm outlining the types and levels of services provided to clients.
- Narrative describing how your firm will bring value to CPSE in achieving our mission.
- References from three not-for-profit/association clients who are currently receiving services similar to those outlined in this RFI.
- Rate sheet for services to non-profit/association clients.
REVIEW PROCESS
Following receipt of the submittals, a subcommittee of the CPSE Board will review the submittals and determine which firms to meet with virtually to discuss potential engagement. The virtual meetings will be held on Thursday July 25th, 2024.
Detailed proposals will be sought from finalists following these virtual meetings.
Formal agreements for an initial three-year term will be signed with the selected firms.
CPSE FINANCIAL TRANSACTIONS OVERVIEW
| CPSE Program | Annual Transaction Count | Description of Transactions |
| Annual Conference |
~1000 registrations ~30 sponsorships |
Registrations primarily conducted via ecommerce transactions. Sponsorships invoiced. |
| Agency Accreditation | ~400 | Mix of annual fee invoices, ecommerce transactions, and one-time large invoices. Revenue recognition deferrals required. |
| Professional Credentialing | ~1250 | New and renewing credentialing applications paid via ecommerce transactions. |
| Department of Defense | ~5 | Periodic invoices via DOD system based on standing contract. |
| CPSE University | ~1000 | Registrations primarily paid via ecommerce transactions. |
| Technical Advising | ~100 | Customers invoiced based on multi-step contracts. |
| Merchandise | ~250 | Merchandise purchases primarily conducted via ecommerce. Inventory maintained at vendor offices |
| Center for Innovation (future) | ~500 | Estimated transaction count conducted via ecommerce and invoices. |
QUALIFICATION OF PROVIDERS
- Qualified providers shall maintain sufficient personnel and equipment to address CPSE’s accounting issues during business hours (8:30 a.m. to 4:30 p.m. ET).
- Qualified providers shall have demonstrated experience in providing services to not-for-profit 501(c)(3) organizations.
- Qualified providers shall have demonstrated experience with QuickBooks Online, Bill.com, ADP, and SharePoint.
- Qualified providers shall be able to provide proof of sufficient bonding to protect the financial assets of CPSE.
- Qualified providers shall not have been involved in any litigation in the most recent five years.
- Qualified providers shall be committed to professional communication and accurate work.
SCOPE OF WORK – ACCOUNTING
The selected provider shall provide the following outsourced accounting services for CPSE and its related entities.
Frequent Services
- Update and maintain financial records using QuickBooks Online and SharePoint
- Prepare, receive payments for, and reconcile accounts receivable
- Conduct follow-up on past due invoices
- Complete vendor registration forms when requested by customers
- Reconcile ecommerce transactions from multiple merchant accounts
- Prepare, make payments for, and reconcile accounts payable using Bill.com
- Process bi-weekly payroll, benefits, and 403(b) transactions
- Timely reconciliation of general ledger accounts to include:
- Recording of inventory transactions
- Recording of payroll and benefit expenses
- Recording of prepaid expenses and deferred revenue
- Allocation of direct and indirect expenses to programs
- Review and recording of checking and investment account activity
- Monitor and respond to CPSE finance email
- Issuance of monthly internal financial reports following this format:
- Statement of Financial Position
- Statement of Activities – Actual and Budget
- Multi-year Program Revenue and Total Expense charts
- Revenue, Expense, and Margin Historic Performance
- Reinvestment Fund Schedule
- Ensuring timely and accurate compliance for all legal reports and payments by preparing and filing the following documents:
- Federal Forms 1096 and 1099
- Sales and Use Tax Reports
- Personal Property Tax Return
- Assistance in preparing for year-end independent audit
- Maintain fixed assets schedule
- Participation in quarterly status calls with CPSE CEO and CPSE COO
Infrequent Services
- Assistance with technical questions, as needed
- Assistance with financial policies revisions, as needed
- Identification of process improvements, as needed
SCOPE OF WORK – AUDITING AND TAX PREPERATION
The selected provider shall provide the following auditing and tax preparation services for CPSE and its related entities.
Frequent Services
- Consolidated Financial Statement Audit in line with government auditing standards
- Preparation and submittal of IRS 990s for CPSE and CFAI-Risk
Infrequent Service
- Assistance with technical questions, as needed