Financial Management Oversight Services
Overview
Fit Score
Settle Intelligence
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SUMMARY
KEY REQUIREMENTS
CONTRACT DURATION
QUESTION DEADLINE
Issuing Agency
Federal Transit Administration
Organization overview and procurement intelligence available on paid plans.
DESCRIPTION
The government authority in Washington, DC is seeking financial management oversight services to assess and ensure the adequacy of financial management systems supporting capital projects at all stages. Vendors will conduct transaction testing to evaluate recipients' financial systems, verify record-keeping practices for federally assisted funds, and ensure that financial information is appropriately linked to performance and productivity data including unit cost development as required by agreements.
Recipients and subrecipients must establish procedures that facilitate timely and accurate reporting of cash balances and disbursements, enabling complete cash transaction reports for the awarding agency. Services will also encompass conducting reviews, training, technical assistance, and sharing best practices to improve consistency. The selected vendor is expected to promote mutual understanding of the contract terms, clarify roles and responsibilities, review priorities, and follow a defined review schedule.
The contract for these oversight services will be for a one-year period.
Source attribution
This Settle analysis is based on the issuing organization’s public RFP listing.