Specifications include, but are not limited to: Provide financial administrative and reporting services for BEA in order to assist BEA in its administration of the STEP grant from the U.S. Small Business Administration. Services provided shall cover the period each grant is in effect; for the STEP grant, that shall be through September 29, 2024, with an additional 90 days to allow for financial reconciliation as part of the grant close out. For the grant financial administration services: • The contractor shall establish a separate bank account in a financial institution of its choosing for money relating to the STEP grant. • The contractor shall furnish all financial information, data, reports, records and/or other information necessary for carrying out the services under this SoW free of charge; this information will relate to the status of funds in the bank account. • Information must be provided within 3 business days of request, where practicable and feasible. • The contractor shall obtain approval from BEA’s STEP Program Director prior to expenditure of any funding for services and shall make payments to vendors or to businesses at the direction of the STEP Program Director. Payments may be limited in time to once per month or two times per month, as an example, if needed to keep costs in line with the maximum administrative fee for this RFP. • BEA shall provide information on anticipated expenses to the contractor to allow the contractor to request funds for services, in the form of an invoice to be sent to BEA. • BEA shall prepare and submit drawdown reimbursement requests to the federal grant awarding agency consistent with the invoices to ensure sufficient funds are available to make payments. For reporting services: • The contractor shall maintain information that BEA notes is necessary for carrying out the programs funded by the STEP grant relating to expenses paid. • The contractor shall at minimum provide for a meeting with BEA staff every two weeks to provide general status reports on finances under the grant. • The contractor shall keep an accounting of staff time and expenses, at least on a quarterly basis, for activities carried out under this SoW. • The contractor shall furnish invoices on at least a quarterly basis to BEA to ensure sufficient funds are available to carry out the activities outlined in the STEP grant.
