Financial Management System Replacement

2026-11-03

Project Overview and Requirements The City ’ s vision for this project is a modern , integrated financial system that strengthens accurate and compliant financial reporting and fiscal stewardship while improving operational efficiency , transparency , and the City ' s ability to make informed data - driven decisions . 3 . 1 Guiding Principles • Standardization and Best Practices : Align processes with industry best practices , reduce customization , and automate routine tasks . • User Experience : Prioritize intuitive , accessible solutions ; ensure crossdepartmental participation ; provide structured communication , training and change management . • Scalability and Sustainability : Select a system that supports current needs , future growth , and ongoing regulatory change . • Strategic Investment in Modernization : Leverage digital tools , automated workflows , and structured metadata - driven practices and embrace technological innovation . Integrate with HRM , utility billing , asset management and other operational systems . • Data Integrity and Security : Maintain the accuracy , reliability and security of financial data and records in compliance with local , state and federal requirements . • Scope Discipline : System scope will be clearly and narrowly defined to meet core financial , compliance and reporting needs , avoiding expansion into unrelated departmental or citywide functions to reduce complexity , cost and implementation risk . Objectives and Desired Outcomes The City is seeking a comprehensive financial management solution that supports governmental and enterprise fund accounting , continuous close practices , integrated budgeting , capital project management , and role - based reporting . The solution must reduce manual workarounds , support strong internal controls , and integrate with key operational systems . Solutions should achieve requirements primarily through configuration using delivered functionality , not custom code . The following requirements describe the outcomes the system must support rather than prescribing how vendors must deliver functionality . 3 . 2 . 1 Continuous Close & Audit - by - Design The system must support a continuous close model , where audit - relevant classifications , reviews , and approvals occur at the time of transaction entry rather than being deferred to month - or yearend . Vendors must demonstrate : • Configuration of rule - based notifications for GASB - relevant transactions including CIP , lease and subscriptions , capitalizable AP etc . • Ability to produce ACFR schedules ( capital assets , long term debt , transfers , CIP , etc .) directly from the system without external spreadsheets . • Native support for role separation between transaction entry , correction , and audit approval . • System - based correction methods that reduce manual journal entries . 3 . 2 . 2 Capital Assets & CIP Lifecycle Management The system must support end - to - end capital asset and CIP lifecycle management , from budget authorization through capitalization , depreciation , and reporting — without reliance on external spreadsheets . Vendors must demonstrate : • CIP tracking tied directly to AP , projects , and funding sources . • Automated capitalization rules and in - system review / approval workflows . • Asset records generated from CIP completion events . • Integrated depreciation and reporting Functional Requirements GROUP MODULE CAPABILITY DESCRIPTION SCORE 1 AP - 01 Accounts Payable Vendor master management Maintain a single , unified vendor master , allowing multiple remit - to addresses , one - time vendors , and hierarchical parent / child structures . 2 AP - 01 Accounts Payable Vendor master management Supports vendor master with multiple remittance addresses & 1099 3 AP - 01 Accounts Payable Vendor master management Support user - defined vendor classes and priorities for payment processing and reporting . 4 AP - 01 Accounts Payable Vendor master management Support vendor holds and monetary limit checks , with automated warning / hold notifications . 5 AP - 01 Accounts Payable Vendor master management Allow sharing of vendor records across departments / funds to eliminate duplicate entry . 6 AP - 01 Accounts Payable Vendor master management Maintain online vendor master contracts , with the ability to attach scanned or electronic documents . 7 AP - 01 Accounts Payable Vendor master management Ability to maintain supplier master data independently of AP , including user access controls for sensitive data ( e . g ., bank account info ). 8 AP - 02 Accounts Payable Invoice entry & validation Support online , batch , and recurring invoice entry , including : 9 AP - 02 Accounts Payable Invoice entry & validation Invoice import from external systems ( PDF , XML , etc .) 10 AP - 02 Accounts Payable Invoice entry & validation Automatic defaulting from vendor or PO data 11 AP - 02 Accounts Payable Invoice entry & validation Duplicate invoice detection 12 AP - 02 Accounts Payable Invoice entry & validation Attachment of invoice images and electronic records to transaction records must be supported . 13 AP - 02 Accounts Payable Invoice entry & validation Multi - line distribution coding 14 AP - 02 Accounts Payable Invoice entry & validation Ability to match invoices to PO or contract data ( two - way or three - way matching ), including user - defined tolerances .

Montana

2026-04-29