Invitation to Bid – Financial Services Provider
- Introduction & Background
ACT Ubumbano is a voluntary association comprising European and Southern African organisations working for social justice. More information is available at www.actubumbano.org.We are looking to appoint a service provider to support the ACT Ubumbano Coordinator in the management of the organisation’s finances, administration and regulatory compliance. Currently we have a staff of three people, and an annual budget (not considering COVID-19 revisions) of approximately ZAR 8 million.ACT Ubumbano has currently contracted one of its partner non-profit organisations to act as its fiscal host but finance matters will now be brought under the control of the Coordinator.
- Scope of Work
The new service provider will be expected to provide, among others, the following main functions:
- With the Coordinator, develop and implement a robust financial management system for ACT Ubumbano that incorporates a strong framework of internal control and enables good financial reporting to internal and external stakeholders.
- Assist with the opening of new bank accounts and the management of all banking activities including the making of properly authorised payments to service providers on a monthly basis.
- Establish and manage a forex facility for enabling transactions beyond South Africa.
- Lead the handover of accounting records from the current fiscal host; capture all monthly financial transactions, based on proper and appropriate documentation and on coding/allocations provided by the Coordinator according to an agreed monthly timetable; reconcile/analyse all balance sheet accounts and provide financial reports for the organisation’s budget holders, for its board and for donors in the manner, and at the points in time, required by the respective funding contracts.
- Prepare funder reports for audit, where applicable, and compile the draft annual financial statements for the organisation’s general purpose audit on the basis of a suitable accounting framework.
- Prepare/provide all supporting schedules and reconciliations required by the auditors.
- Manage payroll functions for the organisation’s employees including the monthly running of the payroll against an authorised salary, allowance and deduction schedule, together with leave recording, maintenance of the leave provision and submission of monthly, half-yearly and annual SARS returns and compliance with other statutory requirements from SARS, UIF, COIDA and others.
- As requested, advise the Coordinator on financial management matters for the prudent stewardship of the organisation’s money.
- Invitation to Bid
Interested and suitably qualified and experienced parties are invited to submit their bids to provide the required financial management services. Each bid should contain the following:
- Your assessment of the level of effort required to provide this service.
- A clear statement of your suitability and capacity to undertake the assignment on an ongoing basis, including a description of the experience and qualifications of those who will be providing the services.
- Evidence of experience in similar work (we will treat information with due discretion).
- Confirmation of the accounting and payroll packages that you would propose to use to meet the above requirements with your reasons as to why those packages would be suitable.
- Name and contact details of a representative of at least 2 existing clients who would be prepared to act as referees.
- Your fee estimate.
- Submission Information
All submissions must be sent to email@example.com by no later than 16h00 on Monday 17 August 2020. The same email address can be used for any questions that you need to ask when preparing your bid.