Central State University Financial Services

The purpose of this RFP is to solicit Proposals for a Contractor to provide financial services to the Agency.

Central State University (Agency) provides education to a diverse student body and carries a statewide mandate to advance research, community engagement, and workforce development. The university enrolls approximately 2,000 students and employs more than 200 full-time and adjunct faculty who play an essential role in teaching, advising, and mentoring students throughout their academic journey.

The Agency has a complex funding structure. University operations are supported by student tuition and fees, state support, federal and state grants, and a 501(c)(3) foundation serving as the fundraising arm. The Agency has a financial leadership team in place but has experienced regular turnover in supervisory and staff roles. The Agency is receiving support from the State of Ohio through the Department of Higher Education and DAS. Additional information about the Agency is included in Exhibit 1 of this RFP for reference.

An overview of the Work is provided below.  The scope of work and requirements are provided in greater detail within Part 1, Scope of Work.

The Contractor must provide qualified financial services to the Agency including financial reporting, budget implementation and monitoring, cash management, general ledge management and reconciliation, student aid refunds, sourcing and contracting, accounts payable and receivable, and other financial functions. The Contractor must work with the Agency to assess the status of the Agency’s fiscal operations and develop and immediately implement recommendations for fiscal operations where deficiencies exist. The Contractor’s recommendations must include opportunities to train Agency staff with a goal of improving and implementing sound fiscal practices and transitioning the Agency back to managing its fiscal operations independently after conclusion of the Work. The Contractor must also assess the Agency’s business model and make recommendations for improvement and optimization tailored to improve academic outcomes and ensure sound fiscal management of the Agency.

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