Vendor needs to provide accounting and financial services consulting services to investigate and provide recommendations regarding the current intake/outflow practices, controls and procedures, streamlining of payroll and financial transactions, and personnel efficiency to the government authority located in Arkansas.1. Intake and outflow practices:– Review and assess current methods of processing and managing revenue intake (taxes, fines, fees, etc.).– Evaluate expenditure controls and disbursement processes for effectiveness, accuracy, and compliance.– Identify gaps or areas where improvements can be made to strengthen cash flow management, transparency, and accountability.2. Financial controls and procedures:– Examine existing internal controls around financial transactions to prevent fraud and errors.– Review the documentation and approval process for financial transactions, ensuring appropriate oversight and segregation of duties.3. Payroll streamlining:– Evaluate the efficiency of the city’s payroll process, including data entry, processing times, accuracy of payroll records, and timeliness of payments.4. Personnel efficiency:– Analyze the current staffing structure in finance–related functions to identify potential inefficiencies.– Assess the skills and workload distribution of personnel involved in financial operations.
↧