Finance and Accounting Services Procurement 2014 Request for Proposal Application Deadline: Wednesday, April 16, 2014 @ 4:00 p.m. 1
Table of Contents 1.0 Council of Academic Hospitals of Ontario (CAHO)... 3 2.0 Background... 3 3.0 Service Requirements... 4 4.0 Submission Requirements... 5 5.0 CAHO Procurement Process Objectives... 6 6.0 Procurement Evaluation... 6 7.0 Selection Criteria... 6 8.0 Deadline for Submissions... 6 Page 2
1.0 Council of Academic Hospitals of Ontario (CAHO) The Council of Academic Hospitals of Ontario (CAHO) is the non profit association of Ontario s 24 academic hospitals and their research institutes. CAHO provides a focal point for strategic initiatives on behalf of our members. As research intensive hospitals, CAHO members are fully affiliated with a university medical or health sciences faculty. Our hospitals provide the most complex and urgent care, teach the next generation of health care providers and foster health care innovation derived from discovery research. Vision: Improving lives for a stronger Ontario through the integration of health research, education and specialized care. Mission: As key partners in the health care system, the CAHO community will harness our collective research and innovation strengths to advance world leading patient care and a sustainable health care system. Strategic Foci: Enable the rapid movement of research evidence into practice to improve quality Advance the stability of and investment in the health research and innovation enterprise in CAHO hospitals CAHO is led by the CAHO Council, comprised of CEOs from each of the CAHO member hospitals. The Council is supported by three committees: the Research Committee, the Practice and Education Committee, and the Resources Committee. 2.0 Background After a recent internal review, CAHO has determined that it will transition their finance and accounting services to a different outsourced model. CAHO currently has a staff complement of 13 and in Fiscal Year 2014, the operating expenses totalled just under $3.5 million. CAHO s financial and accounting needs are spread across three program units. The first program unit is the corporate unit. The second program is the Adopting Research to Improve Care (ARTIC) program. ARTIC is a program delivered by CAHO and currently financially supported by the Ontario Ministry of Health and Long Term Care (MOHLTC). The third program unit is the Toronto Academic Health Sciences Network (TAHSN). TAHSN operates independently serving Toronto based hospitals affiliated with University of Toronto and University of Toronto s Medical, Health and Science faculties. CAHO provides secretariat support to TAHSN for an agreed upon management services fee. Page 3
There are approximately 40 60 individual items process monthly for accounts payable. Invoices are paid on receipt. Accounts receivable produces a small amount of annual activity, generally limited to member invoices which are paid annually. We are not currently seeking an outsourced provider for payroll and benefits, but it may be considered in the future. CAHO is seeking proposals from qualified accounting firms to provide the following services on an outsourced basis. 3.0 Service Requirements There are two components of services required. The first is ongoing finance and accounting support and the second is consultation on the initial implementation during the transition from our current to new provider. We anticipate that ongoing support would be provided by finance professionals at different levels of expertise. The following is a proposed breakdown of services required. ONGOING SERVICES Accounts Payable/Accounts Receivable A/P: Processing of invoices, cheque preparation, obtaining signatures, recordkeeping, resolution of issues A/R: receiving cheques, bank deposit, quarterly invoices for TASHN and CAHO chargebacks, membership invoices CAHO is currently seeking the provision of these services as part of the overall services offering, but it will also consider the option of moving AR/AP in house as appropriate skills are available. Bookkeeping Services: Month end processes, including journal entries, bank reconciliations, transaction reports, intercompany billings, chargebacks, etc. HST returns Quarterly processes Monthly reports Accounting Services: Quarterly financial reports Financial statement preparation Variance analysis Preparation of annual budget including support for Finance Committee Meetings. Co ordination and management of the annual audit Page 4
Financial Consulting and Advisory: Cash management oversight Liaison with the investment manager Able to act if required in the capacity of CFO Provides financial guidance to senior leadership and/or board PRELIMINARY CONSULTATION Prior to the transition stage, the selected firm would be required to provide their expertise in the establishment of effective processes and procedures for finance and accounting; make recommendations for management reports, and provide input on an accounting system. 4.0 Submission Requirements General: Name, address, phone number, fax and email of the main contact for this proposal. Identification of any and all parties in a joint venture, including sub contractors. Team Organization and Qualifications: Background information on the firm. Identification of members assigned including biographical data (experience, qualifications, etc.). Responsibility matrix describing the role and accountability of each team member. Project Experience: Brief outline of assignments of similar scope. Outline of experience within NFPs, associations and health care. This should encompass both the firm and those assigned to this project. References: Three references of clients, including company name, contact name, title, phone and email address for organizations with which you have done similar work. Proposed Structure Outline of how these services would be delivered on an outsourced basis. Outline of how you would provide the preliminary services. Fee Schedule: Rates for all participating members. Costs for expenses and disbursements Estimate of fees and time on a monthly and annual basis. Page 5
5.0 CAHO Procurement Process Objectives Achieve the best solution for the needs of the CAHO Obtain quality services at best overall value Meet the requirements of CAHO s timelines 6.0 Procurement Evaluation The evaluation of the applications will be conducted by the CAHO evaluation team. Each evaluation will be conducted independently and on the basis of the members of the evaluation team arriving at a consensus. Where a consensus is not possible in respect of each evaluation criterion, an averaging of the scores of the evaluation team will be considered. 7.0 Selection Criteria Available financial and accounting services Time commitments per month Resource commitments, including experience levels of the team supporting CAHO Response times and methodology (e.g. in person, by phone) Fee per Service per Month Demonstrable quality of service, responsiveness and collaboration Demonstrate fit with/for small, not for profit. 8.0 Deadline for Submissions Questions to this RFP will be received in writing up to Lynn Brown on behalf of CAHO: lynn@brownconsulting.ca until Monday, April 14, 2014 @ 4:00 p.m. Proposals must be received electronically no later than 4:00 p.m. on Wednesday, April 16, 2014 to: Mr. Chris Paterson Director, Stakeholder Relations Council of Academic Hospitals of Ontario (CAHO) cpaterson@caho hospitals.com Page 6