A. Finance Services. Transition comprehensive finance services to the outsourced vendor. Outsourced services shall include, but not be limited to the following: 1. Fund accounting systems expected to manage up to 30 separate funds. 2. Accounts payable/receivable systems and workflow, including controls and protocols to allow for ACH, check or credit card payments, online payment processing, and invoicing. a. Corporation currently issues between approximately 100 – 1000 checks a month, depending upon the month. b. Corporation currently processes between approximately 500 – 5000 EFTs, depending on the month. c. Additionally, the Corporation licenses approximately 25,000 individuals involved in horse racing and gaming activities in the Commonwealth. Checks and credit cards are accepted for these payments. The Corporation also licenses approximately 50 entities involved in horse racing and gaming activities. Checks and credit cards are accepted for these payments. 3. Procurement systems. 4. Month-end closing and reporting obligations 5. Budget development and management, including preparation of financial statements. 6. Audit processes and support. 7. Fixed assets and inventory management system. a. Corporation currently manages approximately 150 fixed assets and/or inventory items, including, but not limited to: vehicles, office furniture, veterinary equipment, golf carts, refrigerators, freezers, computer and telephone equipment, cameras, camcorders, tablets, ID maker equipment, video security systems, office equipment, radio equipment, trailers, video conference equipment, and televisions. 8. Tax and other legal compliance. B. Human Resource Services. 1. Human Resources Information Systems Management, including time reporting and payroll, human resource related compliance and reporting. a. Corporation currently includes approximately 100 salaried and 20 hourly employees. b. Bi-weekly pay cycle preferred. c. Coordination with Personnel Cabinet regarding all necessary benefits-related service since Corporation employees still participate in the state’s health insurance and life insurance programs. d. Coordination with the Kentucky Public Pension Authority regarding all necessary retirement-related services since Corporation employees still participate in the state’s retirement and deferred compensation programs. e. Employee performance management system. f. Risk management. C. Banking and Investment Management. 1. Establish necessary accounts, which will involve issuance of requests for proposals, and reconciliation and reporting systems. 2. Establish credit card program, including employee spend controls. a. Two Corporation Employees currently hold credit cards for authorized purchases. Additionally, the Corporation currently has approximately 20 credit cards that are restricted to fuel purchase for Corporation-owned vehicles. D. Training and Consultation. 1. Provide training and consultation services related to outsourced services, including training on new systems, controls, protocols, and policies. 2. Provide training and support on required technology systems. 3. Offer expertise in integrating technology solutions and creating efficiencies to support internal controls and compliance.
