Attachment_A_-_Statement_of_Objectives.docx

ATTACHMENT A

STATEMENT OF OBJECTIVES (SOO)

For

Chart of Accounts Redesign OPIC’s Department of Financial and Portfolio Management (DPFM)

I. INTRODUCTION

The Overseas Private Investment Corporation (OPIC) is a Federal government agency that assists American companies expand their business in developing countries. OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds. Established as an Agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers.

OPIC implemented Oracle EBS in the late 1990’s to improve data quality and impose more controls in recording transactions. At the time of the implementation, OPIC was required to report financial statements according to the Financial Accounting Standards Board (FASB) standards of generally accepted accounting principles (commercial GAAP), as well as to report Federal Agencies Centralized Trial Balance (FACTS I proprietary accounts) and (FACTS II, budgetary accounts) to Treasury and the Office of Management and Budget (OMB). To facilitate multiple reporting requirements, OPIC used its standard general ledger account segment in the Chart of Accounts to designate between federal accounting transactions and GAAP transactions, effectively having two sets of book in one. The construct of having the 5th and 6th positions of the general ledger account from 70 through 99 representative of commercial GAAP transactions, while the same 5th and 6th positions of 00 though 69 represent federal accounting transactions. In the current business environment, the commercial GAAP accounts are visible on the transaction distributions and the Subledger accounting (SLA) engine generates the required proprietary and budgetary federal accounting.

In FY2014, OPIC reported financial statements for the first time according Federal Accounting Standards Advisory Board (FASAB) standards which are known as statements of federal financial accounting standards (SFFAS). In order to utilize Oracle EBS more efficiently, OPIC desires to have an updated chart of accounts that removes the commercial GAAP accounts and reduces the number of transactions populating the general ledger.

II. SCOPE

This SOO describes the objectives that need to be met in order to successfully fulfill OPIC’s related responsibilities to advance the organization’s mission. OPIC must meet these objectives in order to provide better reporting capabilities and more streamlined business processes, and effectively and efficiently operate the organization’s back office systems. Primarily, DPFM requires a contractor to review the current accounting configurations and determine the best method to discontinue commercial GAAP accounting transaction postings, propose how to use Oracle standard reporting capabilities and how to report historical data.

III. OBJECTIVES TO BE ADDRESSED IN PERFORMANCE WORK STATEMENT (PWS)

OPIC is requiring interested and capable small business contractors to submit to OPIC a PWS that effectively establishes a plan to discontinue commercial GAAP accounting transaction postings, provide standard reporting capabilities and streamline business processes as follows:

· Current COA Design – Review the current business processes and make changes to remove the commercial GAAP accounting logic while ensuring correct SFFAS accounting results are produced

· Reporting Capability – Incorporate the usage of Oracle standard reports such as GTAS and the Data Act reporting requirements. Review current custom reports and ensure they remain functional

· Cross Validation Rules – Review current cross validation rules and determine if changes are necessary related to SGL account changes

· Feeder Systems Interfaces - Review current interface designs and ensure all COA changes are incorporated appropriately and produce the correct accounting outcomes

· Historical Data – Determine the best method to handle the historical commercial GAAP accounting data and if any “conversion” is necessary

· Project Documentation – Provide a detailed project plan, test plan, and training material The PWS shall describe how the contractor shall achieve the following objectives:

· Development, deployment and operational implementation of a new Chart of Accounts compliant with current U.S. Standard General Ledger, SFFAS requirements and other federal accounting and reporting standards.

· Deployment of the new COA shall result in subledger accounting transactions that follow USSGL / Treasury TFM guidance.

· Deployment of the new COA shall allow for the deployment of Oracle EBS provided DATA Act reporting capabilities.

· All current OPIC reports and interfaces shall continue to function within the parameters of the new COA

· COA and SLA logic shall be properly documented including accounting matrixes that describe the updated transaction flows

· OPIC accounting and reporting personnel shall be provided with adequate training and training materials necessary to understand the new COA, SLA logic and reporting logic in such detail as to be able to continue to perform their job functions.

IV. CONSTRAINTS AND RISKS

· Redesign completion and delivery no later than 9/30/2017 to ensure ability to “go live” on 1 October 2017.

V. TYPE OF ORDER: Firm, Fixed-Price with early completion incentives VI. DELIVERY DATE: See Section IV

VII. PLACE OF PERFORMANCE

The performance may be offsite but delivery shall be made at OPIC’s offices:

Overseas Private Investment Corporation 1100 New York Avenue Washington, DC 20527 The PWS shall specify where performance will occur.