NIGP 94925: Financial and Accounting Service, Bonds

NIGP 94925 Financial and Accounting Service, Bonds, is an Item code covering municipal bond issuance support, arbitrage compliance, debt management, and financial advisory services that state and local governments procure to manage tax-exempt and taxable debt obligations. The scope spans bond counsel and disclosure counsel services for debt authorization and issuance; underwriter selection for bond sales; arbitrage rebate calculations and IRS compliance; municipal advisory services for financing strategy and feasibility analysis; investment advisory services for portfolio management; and comprehensive accounting and audit services for entities issuing or managing bond-financed programs. Issuing bodies include county boards, municipal finance departments, airport authorities, housing development nonprofits, school districts, and special-purpose districts. Recent opportunities show activity across multiple issuer types: El Pueblo Housing Development (City of Tucson affiliate) seeking full-service accounting and financial management services including LIHTC cost certification support; Clayton County, Georgia and City of McDonough, Georgia each soliciting comprehensive audit services; and the City of Little Rock, the City of Winter Park, Collier County, and Brevard County pursuing specialized bond counsel, disclosure counsel, arbitrage rebate, and investment advisory services. Several issuers (Ontario International Airport Authority, Bernalillo County, Galveston County) are engaging municipal advisors and investment advisors for complex capital financing and portfolio optimization.

Geographic activity concentrates in the Southeast (Georgia, Florida) and Southwest (Arizona, Arkansas, New Mexico, California), with intermediate activity in the Midwest (Texas via the Texas Water Development Board's Adaje Platform procurement for municipal bond lifecycle management software). El Pueblo Housing Development issued an RFP due July 31, 2026 for accounting and audit services with an estimated first-year cost of $500,000; Clayton County issued RFP #26-74 due August 13, 2026 for auditing services; and the City of McDonough issued RFP-MCD-FIN-RFP-FY26-001 due June 2, 2026 for independent financial audit services covering three fiscal years. The Ontario International Airport Authority sought underwriter pool services for approximately $500 million in General Airport Revenue Bonds across two series (RFP due May 11, 2026, but with an apparent date error showing May 12, 2026 as the due date). Collier County's arbitrage rebate procurement (RFP due May 14, 2026) shows historical annual spending of $20,100 over six years but noted this may not reflect future patterns. Broward County's accounts payable automation software procurement (RFP due May 20, 2026) exceeds $500,000 and demonstrates how bond-related financial infrastructure extends to internal accounting systems. Small-business participation is actively encouraged or set-aside across multiple jurisdictions, including SBE and CBE preferences in Broward County and local vendor, minority-owned, and women-owned business enterprise preferences in Collier County and Bernalillo County.