Specifications include, but are not limited to: The Government of the United States Virgin Islands (GVI) is requesting proposals from qualified Financial Management, Banking, or Certified Public Accounting (CPA) firm(s) with proven experience in providing independent fiscal management and oversight for the public sector, to provide Third-Party Fiduciary (TPF) oversight, management, and administration of U.S. Department of Education (USED) grant funds to the GVI, in accordance with applicable Federal requirements. The engagement of a TPF agent by the GVI is a necessary condition for the receipt of USED grant funds and the scope of services specifically includes compliance with the Special Conditions imposed on program grant funds that are made available by USED to the GVI, as is and as may be amended by USED. The successful vendor, at a minimum, will be responsible for: • Administration and pre-audit of the following business processes: purchasing, contracting, accounts payable, accounts receivable, cash receipts, fixed asset accounting and management, time distribution, inventory management, reporting and record keeping, and payroll disbursement. • Performing financial management duties currently performed by the Virgin Islands Department of Finance (VIDOF), the Virgin Islands Department of Property and Procurement (VIDPP) and the Governor’s Office (GO) for all funds provided to the Virgin Islands Department of Education (VIDE), the Virgin Islands Department of Health (VIDH) and the Virgin Islands Department of Human Services (VIDHS) by the USED. • Be required to ensure that all such funds are received, deposited, and disbursed in accordance with USED and other applicable Federal requirements, including 2 CFR 200, as well as Virgin Islands requirements and regulations.
