Specifications include, but are not limited to: 1) The Contractor shall perform AUP on all cash and investments held in the State Treasury and the reconciliation and balancing of all such cash and investments with any unreconciled fund managed by relevant state agencies within the South Carolina Enterprise Information System (SCEIS) to the Statewide Accounting and Reporting System (STARS) and, to the extent possible as determined by the Contractor, to such external statements and records of financial institutions, investment firms, trustees, or any other third-party holding cash and investments on behalf of the State. 2) In addition, the Contractor must perform the following: a) Investigate, research and draw conclusions related to $1.8 billion in SCEIS subfund 30350993 (the “Fund”) (with the goal of ascertaining whether those amounts, in fact, exist, and, if so, the purpose and ownership of the funds, as well as an assessment of the proper inclusion of the amounts in the Fund as unassigned amounts within the State’s general fund section of Governmental Funds), including, but not limited to the following):. i) Investigate changes to the Fund. ii) Investigate how the Fund was accounted for as a result of the conversion from the legacy system or any other systems used by the Office of State Treasurer and/or the Office of the Comptroller General to SCEIS. iii) Investigate the legacy system or any other systems used by the Office of State Treasurer and/or the Office of the Comptroller General to determine the origins of amounts in the Fund. iv) Investigate the State’s previous legacy system (STARS) to help with determining origins of the amounts in the Fund. iv) Determine original ownership of the amounts in the Fund, to the extent the amounts exist and are found to not be properly included as unassigned amounts within the State’s general fund section of Governmental Funds. b) Confirm the accuracy and impact of the $3.5 billion restatement that was made to the opening balance in the general fund, as reflected in the ACFR for fiscal year 2022 (the “2022 ACFR”), as described in Note 15 to the 2022 ACFR and confirm the accuracy of cash and investment general ledger accounts within SCEIS. 3) In its AUP, the Contractor must include findings and recommendations for any corrective entries and actions necessary, along with recommendations for procedures and controls to be implemented in the future that would, among other things, mitigate the risk of future unassigned amounts within the State’s general fund or generally enhance the process by which the ACFR is prepared.
