Accountant and Financial Consulting Services

The City of East Orange Board of Water Commissioners is actively seeking qualification proposals from highly experienced persons and/or firms for comprehensive Accountant and Financial Consulting Services. This Request for Qualifications (RFQ) aims to secure a contractor to provide essential financial expertise and support for the East Orange Water Commission for a twelve-month period, specifically from January 1, 2023, through December 31, 2023. The extensive scope of work includes delivering operational and financial advisory services aligned with utility industry standards, covering metered revenue capture, customer service billing and collection systems, and work order practices. Additionally, the selected entity will provide critical support for capital project execution and monitoring at a financial level, assist with capital financing and existing debt management in collaboration with bond counsel and the NJIB, and work alongside the Commission’s engineers and financing advisors on various capital initiatives and funding strategies. Further responsibilities for the Accountant and Financial Consulting Services include providing robust accounting, budgetary, financial, and long-term plan advisory services. The consultant will be tasked with producing monthly and balance-of-year forecasts for revenue, expenses, and cash balance changes, as well as inspecting financial transactions and records to ensure strict adherence to regulations and accounting procedures. Advisory services on legislative changes affecting recordkeeping are also required. The successful firm must commit to providing a minimum of one part-time employee for seven days a month to assist the Commission’s Finance Team with statement preparation and audit reporting, and another part-time employee for remote calls, meetings, and reporting. This role also necessitates attending EOBWC Monthly Commissioner’s meetings, reviewing and recording expense invoices, preparing various financial reports and summaries, maintaining the General Ledger, reconciling checking accounts, preparing checks, assisting in the annual budget preparation (considering utility-specific variables), and supporting the City’s retained auditor with necessary financial information. Prospective contractors must possess a valid Certified Public Accountants license and a valid Registered Municipal Accountants license, both issued by the appropriate authority of the State of New Jersey. A mandatory minimum of ten (10) years’ experience in providing auditing services to municipalities within New Jersey is required, alongside the assignment of senior staff members with at least ten years of experience in auditing and the other requested services. Maintaining a current principal office within the State of New Jersey is also a prerequisite. Firms must demonstrate in-depth knowledge of municipal auditing laws and regulations, as well as experience in advising municipal entities on records compliance, budget development, labor negotiations, and other financially relevant tasks for municipalities of comparable size to East Orange. All qualification proposals must be received by the Purchasing Agent in the East Orange City Hall, Division of Procurement, on Thursday, November 10, 2022, at 11:00 a.m. prevailing time, at which time they will be publicly opened. Submissions must be enclosed in a sealed envelope, clearly marked “ACCOUNTANT AND FINANCIAL CONSULTING SERVICES,” and addressed to the PURCHASING AGENT, City of East Orange, City Hall, 44 City Hall Plaza, East Orange, NJ 07018. Required submission documents include one (1) unbound original, four (4) additional sets, and one (1) thumb drive, along with a Non-Collusion Affidavit, Business Registration Certificate, Qualification Affidavit, and proof of Professional Liability Insurance with minimum limits of $1,000,000.00 per claim and aggregate. For inquiries, contact Racquel C. Ferguson, QPA at (973) 266-5162.