Request for Proposals - Financial Services
| Location: | Illinois |
|---|---|
| Posted: | May 6, 2026 |
| Due: | May 22, 2026 |
| Agency: | La Grange village |
| Type of Government: | State & Local |
| Category: |
|
| Publication URL: | To access bid details, please log in. |
| Bid Title: |
Request for Proposals - Financial Services
|
| Category: | Professional Services |
| Status: | Open |
|
Attachment Preview
VILLAGE OF LA GRANGE
REQUEST FOR PROPOSALS (RFP)
FINANCIAL SERVICES
Distributed: April 13, 2026
Response Due: May 8, 2026
REQUEST SPECIFICATIONS
Section 1: Background
The Village of La Grange is a vibrant, non-home-rule municipal corporation located 14 miles
west of Chicago in Cook County, Illinois. Incorporated in 1879, it occupies a land area of
approximately 2.5 square miles and has a population of approximately 16,321 residents.
The Village of La Grange boasts a strong local economy with diverse employment
opportunities, and a mix of commercial, industrial, and office developments. Its charming
downtown area and convenient access to transportation make it a desirable location for both
businesses and residents. La Grange is known for its high-quality residential areas, attractive
storefronts, and various community events such as the Farmers Market, Pet Parade, Holiday
Walk, and a West End Fine Arts Festival. These events continue to attract thousands of people
from the Village and surrounding communities to downtown La Grange.
The Village of La Grange provides a full range of governmental services. Specifically, the
Village provides police and fire protection, water and sewer utilities, construction and
maintenance of roadways and infrastructure, code enforcement, planning, zoning, inspection
services, economic development, finance, and general administrative services.
The Village operates under the Board-Manager (by ordinance) form of government. An
elected legislative board consisting of a President and six Trustees set policy and a
professional manager oversees the day-to‐day administration of government. Village services
and programs are delivered by approximately 104 employees.
The Village has a rating of Aa1 from Moody's Investors Service, which recognizes the Village’s
robust reserves and strong financial management, with five-year forecasting and conservative
budgeting that regularly results in surpluses. The FY2026-27 Budget has a projected fund
balance reserve in the General Fund of 94.5% of annual recurring operating expenses. The
department has led efforts that have resulted in receiving the Government Finance Officers
Association (GFOA) Distinguished Budget Award for 29 consecutive years and Certificate of
Achievement for Annual Comprehensive Financial Reporting for 33 consecutive years. The
Finance Department staffing consists of an Accounting Manager, Senior Account Clerk,
Account Clerk, and part time Account Clerk. Responsibilities of the department include
preparation and management of the budget, financial reporting, accounts payable/receivable,
utility billing, payroll/benefits administration, investments, and debt management. The
department assists in performing financial analyses.
The Village’s Enterprise Resource Planning (ERP) software system is MSI Version 7.5 by Harris
Local Government/Constellation Software Inc. (CSI). Utility billing is conducted through the
Impressa platform by inHANCE, which is also owned by CSI. The Village sells daily parking
permits through Passport and uses Stripe and Transaction Warehouse for payment processing.
The Village intends to implement a new ERP system and will be considering updates to its
utility billing and payment processing software systems as part of that process.
Section 2: Scope of Work
The Village seeks a consultant to provide financial services in supporting the functions of its
Finance Department. The services are expected to be provided through a combination of on-
site as well as remote work, with a minimum of two days on site support provided by an
individual serving in the capacity of Finance Director. This individual will fulfill the duties
associated with Finance Director, which also includes the role of Budget Officer, Treasurer,
and Comptroller. The remaining services are anticipated to be provided by staff with
accounting or general financial management backgrounds.
The Village is requesting proposals to provide the following scope of work:
a. Oversight and Guidance
i. General ledger maintenance
ii. Fund accounting (general, special revenue, enterprise fund, etc.)
iii. Monthly bank reconciliations and year-end closings
iv. Accounts Payable payment processing, ACH/wires, 1099 reporting, workflows
and approvals
v. Oversee cash receipting and deposits/revenue reconciliation
vi. Tracking and maintenance of escrow accounts
vii. Respond with financial data to FOIA requests
b. Budgeting & Financial Planning
i. Annual budget preparation and coordination
ii. Multi-year financial forecasting
iii. Revenue and expenditure analysis
iv. Budget monitoring and monthly reporting
c. Accounting & Financial Reporting
i. Preparation of Annual Treasurer’s Report, monthly financial statements and
other financial reports as needed
ii. Present to Village Board and others as needed
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iii. Perform grant accounting and compliance reporting
iv. Implement enhanced internal controls and conduct regular monitoring
v. Completion and filing of required financial reports
vi. Implement measures to address audit deficiencies
vii. Assist in the creation of a Budget in Brief summary report
viii. Submit GFOA award recognition applications
d. Accounts Receivable (AR) / Revenue Collection
i. Develop and implement standard AR practices including delinquent account
tracking and collections
ii. Assess and recommend improvements to payment processing including
software solutions
e. Payroll & Benefits Administration
i. Perform payroll processing, tax, pension, and other associated reporting
ii. Ensure compliance with FLSA, PEDA, Worker’s Compensation, IRS and other
applicable regulations
iii. Oversee benefits administration and coordination
f. Treasury & Cash Management
i. Cash flow forecasting
ii. Bank account management
iii. Investment management
iv. Debt service maintenance and monitoring
v. Regularly ensure that accounts are fully collateralized
vi. Monitoring liquidity and fund balances; maintaining appropriate liquid cash and
adequate fund balances
g. Debt Management & Financial Advisory
i. Coordination with financial consultant regarding long-term financing plan for
capital improvements
ii. Collaborate with bond counsel and municipal advisors
iii. Debt compliance and continuing disclosure
iv. Credit rating agency communication
v. Debt service, planning, scheduling and tracking
h. Audit & Compliance
i. Coordination of annual external audit; ensuring timely completion and filings
ii. Preparation of audit schedules and other support documentation
iii. Compliance with federal, state, and local regulations
iv. Oversee Single Audit when warranted
i. Capital Project Financial Management
i. Develop debt payment schedule associated with capital projects
ii. Develop & implement cost tracking and budget controls
iii. Track associated grant funding and grant reimbursement requests
j. Procurement & Purchasing
i. Purchasing policy administration
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ii. Bid/RFP financial review
iii. Purchase order processing oversight; identify and implement process
improvements
iv. Vendor contract compliance/oversight
k. Financial Policy & Internal Controls
i. Advise in the development of financial policies (fund balance, reserves,
investments)
ii. Ensure best management practices and strong internal controls
l. Financial Systems & Technology
i. Lead implementation on an updated ERP/accounting software system, including
business process reviews and the development of a new chart of accounts
ii. Assist with payroll processing evaluation and integration of utility billing into
new ERP/accounting software
m. Organizational Support
i. Perform limited financial analysis for departments, including cost analyses for
programs and services
ii. Provide grant application support
iii. Financial modeling to inform labor negotiations
Section 3: Required Submissions
The response to this Request for Proposals must include at least the following information:
a. Contact Information listing name, address, phone, email, and website of the
responding firm (where applicable).
b. A summary statement of relevant experience and qualifications.
c. Proposed staffing to provide the requested services as well as a plan for staffing should
assigned staff be unavailable to provide services.
d. Detailed, current resumes listing professional experience of the staff members
proposed to provide the service.
e. A listing of any potential conflicts of interest.
f. Hourly or daily rates of staff members assigned to fulfill the scope of work. Rates shall
include all direct and indirect costs. Proposers should include the extent to which fees
would be waived for relatively minor work.
g. Three professional references of clients where similar services have been provided.
h. Any other information believed to be relevant to the request.
Section 4: Evaluation/Acceptance of Proposals. The Village intends to select a consultant that
furnishes satisfactory evidence that it has the requisite experience, ability, resources and
staffing to enable it to perform the scope of work successfully. All responses to this solicitation
will be analyzed for completeness and cost effectiveness. In making the determination as to
whether to select a consultant, the Village will consider the following factors (not listed in
order of priority):
a. The demonstrated record of experience of the consultant firm and identified project
staff in performing the tasks contained in the Scope of Work.
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b. Capabilities and experience in comparable engagements and the specialized
experience and technical competence of the consultant.
c. Past record of performance on contracts with other governmental agencies, including
such factors as control of costs, quality of work, and ability to meet schedules.
d. References from prior or current clients where a comparable scope of work has/is
provided. Village's prior experience with the Consultant, if applicable.
e. Must not have any personal, financial, or business relationships that, in the judgment of
the Village, may give rise to an actual or apparent conflict of interest.
Proposals submitted are offers only and the decision to accept or reject a proposal is a function
of quality, reliability, capability, reputation, and expertise of the Consultant.
The Village may accept the proposal that is, in its judgment, the best and most favorable to the
interests of the Village and to the public; reject the low-price proposal; accept any item of any
proposal; reject any and all proposals; or waive irregularities and informalities in any proposal
submitted. The waiver of any prior defect or informality shall not be considered a waiver of any
future or similar defect or informality. Consultants should not rely on, or anticipate, any waivers in
submitting their quotes.
Section 5: RFP Schedule and Response Instructions
The Village anticipates following the schedule described below to issue the request for issuing
and reviewing this request for quotations, and completing the project:
Phase
Issue Request for Proposals
Deadline for Questions
Answers Posted
Proposals Due
Award
Anticipated Date
April 13, 2026
April 24, 2026
May 1, 2026
May 8, 2026
May 29, 2026
GENERAL TERMS AND CONDITIONS
Section 1: Intent. It is the intent of the Village of La Grange(“Village”) to contract with a
consultant (“Consultant”) for all necessary labor, expenses and materials to complete the work
described in this RFP.
Section 2: Additional Information. Should the proposed require additional information
about this request for quote, please submit questions via email to Jack Knight, Village
Manager, jknight@lagrangeil.gov. Questions are due no later than 4:30 p.m. on April 24, 2026.
Section 3: Silence of Specifications. The apparent silence of specifications as to any detail or
apparent omission from a detailed description concerning any portion of this document shall
be interpreted as meaning that only the best commercial material or practice shall prevail.
Section 4: Insurance, Hold Harmless and Indemnification
In addition to other standard contractual terms, the Village will require the selected Consultant
to comply with indemnification, hold harmless and insurance requirements as outlined.
Consultant shall defend, indemnify and hold the Village, its officers, officials, employees and
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