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Financial Management Services
State and local governments are authorized to use the Federal Supply Schedule to purchase financial management services to facilitate disaster recovery from major disasters, nuclear, biological, chemical, or radiological attacks as declared by the President of the United States Government
520-5 SPECIAL ITEM NUMBER- LOAN SERVICING AND ASSET
MANAGEMENT (Specifically
excludes Sales of Assets and Loan Servicing, but does included reviews of
loan servicing practices, and opinions on financing or refinancing etc.)
- Verify and maintain borrower data
- Exchange data with an agency's central
database and reconcile
- Issue forms, disclosures, letters, and other
materials
- Cancel loans
- Covert loans to repayment status
- Calculate interest
- Assess and post frees and late charges
- Bill the borrower
- Process borrower remittances
- Process borrower requests for remittance
via pre-authorized debit
- Determine income contingent repayment
- Prepare annual statement
- Reconvert loans
- Loan consolidation and transfer actions
- Transfer default loans
- Accept and service loans from another Servicer
or DCS
- Report to credit bureaus
- Provide customer service
- Reconcile with an agency's central database
- Refinance Government-held
loans
- Enforce Creditor's right under the loan
- Protest loan collateral
- Share and manage credit risk
- Workout or restructure trouble loans
Examples of Asset Management Services includes but is not limited
to: Provide technical
assistance in assessing and improving current asset management
processes relating
to cash management, inventory management, government property,
plant
and equipment, and
other agency
assets. Conduct
specialized reviews
to assess adequacy of controls and policies and procedures, assess
agency compliance with
asset
management related requirements, resolves, audit recommendations,
performs and
special analyses and evaluations.
520-11 SPECIAL ITEM NUMBER- ACCOUNTING
Examples of Accounting Services includes but is not limited to:
Transaction analysis, transaction processing, data analysis and
summarization,
technical assistance in devising new or revised accounting
policies and procedures,
classifying accounting transactions, performing special studies
to improve accounting operations, resolve accounting issues,
resolve and implement
audit findings, recovery reviews, assess or enhance accounting
internal controls, improve operating efficiency and effectiveness,
apply information
technology to provide better or more timely service
520-12 SPECIAL ITEM NUMBER- BUDGET
Examples of Budget Services includes but is not limited to: Assess
and improve the budget formulation process, Assess and improve the budget
execution process, conduct special reviews to resolve budget formulation
or budget execution issues, provide technical assistance in improving
budget preparation or execution processes and related systems, reviewing
budgetary controls, assist management with implementing corrective
actions,
and apply information technology to streamline/improve budget-related
activities.
520-13 SPECIAL ITEM NUMBER- COMPLIMENTARY FINANCIAL
MANAGEMENT SERVICES
-
Financial Management Systems Services
- Financial Reporting and Analysis
Services
- Financial Planning and Performance Measurement Services
- Other Financial
Management Services
Financial Management Systems Services
Examples of Financial Management Systems Services includes but is not
limited to: Assess and improve financial management systems, conduct
A-127 system compliance
reviews, conduct other system assessments to improve operating efficiency,
effectiveness, controls, and system performance, assist management with implementing
corrective actions, documenting systems, identify systems requirements, plan
and develop systems, assess the integrity of financial systems and related
data, provide technical assistance in meeting agency financial management system
requirements.
Financial Reporting and Analysis Services
Examples of Financial Reporting and Analysis Services includes but is
not limited to: Assess and improve current financial reporting and analysis,
develop new
reporting formats and pro-forma financial reports, provide technical assistance
in meeting agency financial management reporting and analysis requirements,
assist in improving and streamlining reporting and analysis processes and related
procedures, assist management with implementing corrective actions, analyze
financial results, conduct cost-benefit or other special financial analyses,
assist analysis and enhancement of existing pricing and rate structures.
Financial Planning and Performance Measurement Services
Examples of Financial Planning & Performance Measurement Services includes
but is not limited to: Provide technical assistance in complying with the requirements
of the Government Performance & Results Act, assist with devising and
implementing performance measures and related processes and systems assist
with strategic
and operational financial planning, resolve audit recommendations and assist
with implementing corrective actions, assess the adequacy of strategic plans
and related performance measures, assist in reviewing and improving current
processes and related procedures and systems.
Other Financial Management Services
Examples of other Financial Management Services includes but is not
limited to: Provide technical assistance related to managerial cost
accounting or other
special financial areas of interest, assist in financial policy formulation
and development, conduct special cost studies, assist with quality assurance
efforts, perform bench marking of financial activities and performance
results.
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