FRCC Foundation Bookkeeping Services

Background
The Front Range Community College (FRCC) Foundation is seeking an external Bookkeeper to assist with its financial operations. The Foundation operates under a 501(c)(3) designation and requires bookkeeping services to support its annual audit, monthly bookkeeping duties, and reporting for its Board of Directors.

The goal is to find a qualified individual or firm experienced in nonprofit financial management, particularly with fund management and compliance with Generally Accepted Accounting Procedures (GAAP).

Work Details
The awarded contractor will provide comprehensive bookkeeping services including:

1. Monthly Bookkeeping: Record all revenue and expenditures, maintain receipt and document storage, perform monthly reconciliations of accounts, and prepare monthly financial statements including Statement of Activity, Statement of Financial Position, Statement of Cash Flows, and restricted funds reports.

2. Accounts Payable: Process bills on an accrual basis ensuring compliance with GAAP, set up workflows for approval authorizations before payment processing.

3. Accounts Receivable: Manage invoices/pledges on an accrual basis ensuring timely recording of revenue.

4. Audit Preparation: Maintain books in an audit-ready state, prepare schedules and documentation for auditors, conduct internal reviews for compliance, and assist in IRS Form 990 preparation.

5. Budgeting Services: Enter prepared budgets into the accounting system and provide monthly budget vs actual reports.

6. Advisory Services: Provide virtual CFO services including oversight of accounting systems, monitoring financial health, strategic planning guidance, and attending quarterly board meetings.

Period of Performance
The contract is anticipated to start between April and May 2025 for an initial term of one year, with the possibility of renewal for up to four additional one-year periods, totaling a maximum duration of five years.

Place of Performance
The services will be performed for the Front Range Community College Foundation located in Colorado.