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Minneapolis Federation of Teachers, Local 59
A Union of Professionals


Contract Accountant

Based in Minneapolis, MN

 

Request For Proposal (RFP): Accounting Services

The Minneapolis Federation of Teachers and Educational Support Professionals, Local #59 (MFT) invites proposals for monthly contracted accounting services. This will be an ongoing support position of approximately 10-15 hours per month, not to exceed 24 hours per month.

MFT is a union of professionals that champions fairness; democracy; economic opportunity; and high-quality public education, healthcare, and public services for our students, their families and our communities. We are committed to advancing these principles through community engagement, organizing, collective bargaining and political activism, and especially through the work of our members.

Annual revenues are approximately $3.0 million – $3.5 million. MFT’s fiscal year is September 1 through August 31. MFT utilizes an accrual based accounting system with QuickBooks to manage finances. An office administrator processes accounts payable and receivable, and all checks require dual signatures of Chapter Presidents and/or the MFT Joint Executive Board Treasurer.

Submission of Proposals
Documents must be submitted via e-mail to: dhogan@mft59.org.

Scope of Work
General Accounting:

  • Work with the accounts and expenses structure currently used by the MFT.
  • Reconcile bank accounts and provide a monthly bank reconciliation report.
  • Reconcile all balance sheet accounts including a review of AR and AP aging.
  • Reconcile all grant and deferred revenue accounts and reclass if applicable.
  • Prepare and record all required journal entries for accrual, including payroll and grant liabilities.
  • Provide monthly detailed financial reports including profit and loss statements, cashflow statement, budget vs actuals, classed fund balances, and a balance sheet at least three days prior to regularly scheduled Joint Executive Board meetings (third Wednesdays).
  • Be available to answer questions of the Joint Executive Board (by telephone is acceptable).
  • Perform monthly closing procedures after all monthly adjustments have been made.

Annually:

  • Perform year-end close and prepare for annual audit (August-September).
  • Meet with the MFT’s chosen independent auditor to plan for the annual audit, complete all requested schedules, provide copies of requested test documentation and respond to audit field staff requests.
  • Assist MFT Treasurer and Joint Executive Board with the preparation of the annual budget by proving historical expense information and calculating possible budget scenarios for the budget committee (March-May).
  • Prepare annual 1099 for vendors who have received more than $600 in payments.

Preferred Qualifications
At least four years of nonprofit grant accounting experience, including preparing financial statements and month-end close.
Explain how contractor/firm is a good fit with our organization, detailing experience with other non-profit clients of a similar size and scope.

References
Contact information for three (3) specific professional references, including at least two (2) non-profit clients, for whom the contractor has provided similar accounting services

Proposal Preparation Costs
The costs of developing proposals are entirely the responsibility of the vendor, and shall not be charged in any manner to MFT. This includes, but is not limited to, the direct cost of vendor personnel assigned to prepare vendor’s response to the RFP and any out-of-pocket expense (including, but not limited to, travel, accommodation, supplies) incurred by vendor in preparing the response to the RFP.

Fiscal Information
Vendors may request previous audits, meeting minutes, and financial information such as our budget to assist in preparing their proposals.

Conflict of Interest
Proposing contractors/firms are asked to identify any conflicts of interest and to clarify, if applicable, how conflicts will be managed/mitigated to ensure the best interests of MFT are met.

Confidentiality of Information
MFT reserves the right to retain all copies of vendor proposals submitted in response to this Request for Proposals.

Qualifications of Vendors & Eligibility Requirements
MFT expressly reserves the right to reject any proposal if it determines that the business and technical organization, equipment, financial and other resources, or experience of vendor, compared to work proposed, justifies such rejection.

Ownership of Work Products
MFT shall have ownership rights, including copyrights and patents, to all work products developed for MFT by the vendor.

Questions Regarding RFP
Inquiries concerning this RFP should be submitted to: dhogan@mft59.org.

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