RFP - Financial / Accounting Services

Cycling Canada Cyclisme

Request for Proposal: Financial / Accounting Services

October 2025

Background

Cycling Canada Cyclisme (“CCC”) is the governing body for competitive cycling in Canada. With the vision of becoming a leading competitive cycling nation, Cycling Canada manages high performance programs, hosts national and international events and administers programs to promote and grow cycling across the country. CCC is seeking 3rd party support in the area of accounting and financial services. This support will likely be on a contract basis and can primarily be provided remotely / off-site.

CCC’s head office is located in Ottawa, ON., with a satellite office as part of our performance training centre in Milton, ON. CCC has 28 full-time employees – staff and coaches – and approximately 30 additional part-time, contracted and seasonal staff located across the country and abroad. The organization’s annual operating budget ranges between approximately $8-$10 million. A majority of total operating revenue is derived from key funding partners including Sport Canada, Own the Podium, the Canadian Paralympic Committee, the Canadian Olympic Committee and a number of private partners, sponsors and donors. Approximately $1.5 million annually comprises in & out transactions related to collection and remittance of various grants, subsidies and funding to external stakeholders. CCC has a special charitable status known as Registered Canadian Amateur Athletics Association (RCAAA) and, as such, is able to issue donation tax receipts and benefits from minimal CRA reporting requirements. CCC uses Quickbooks Online accounting software. Payables are primarily transacted via EFT (Plooto) or Corpay for large foreign currency wire payments. Expenses are processed via DEXT and payroll via Ceridian Powerpay / Dayforce.

Services Required

CCC currently outsources the bulk of its bookkeeping and accounting to a remote third party provider, although continues to maintain some in-house staff resources for the main purpose of budget development, general financial oversight and direction, adjustments, results analysis and reporting to a variety of stakeholders. In your proposal and, from the following summary of tasks, please list tasks that you suggest can be outsource supported versus tasks that would continue to best be supported via in-house staff / specialty providers; or a collaborative approach between outsource and in-house. Please also outline your suggested approach in terms of priority, sequencing and timelines to achieve a smooth transition from CCC’s existing accounting services provider (should one be required).

1. Financial Statements

• Monthly preparation of balance sheet and income statements based on payable invoices received, accounts receivable and monthly transactions
• Monthly general ledgers to budget managers, as required
• Variance reports quarterly
• Board reports approx. monthly

2. Payroll and Benefits Administration

• Payroll with or without current provider (Ceridian)
• Benefit coordination and RRSP distributions

3. Accounts Payable

• Verification of all invoices
• Set-up and execution of EFT / cheque runs
• Corporate credit cards (~$1.5 to $2 million annual transactions)

4. Accounts Receivable

• Invoicing, including follow-up of aged receivables / statements.

5. Banking

• Monthly reconciliation of banking transactions to the general ledger
• Cash flow monitoring
• Foreign currency exchange and wire transfers (Current FX broker Corpay)
• Monthly entries and reconciliation from third-party member registration system

6. Year-End and Government Reporting

• Final year-end accounting and direct work with auditors
• All government reporting and filing, including reporting to public funding partners (Sport Canada, Own The Podium, etc.)
• Quarterly cash flow reports to Sport Canada
• Semi-annual HST/GST/PST tax recovery filings

7. Registered Canadian Amateur Athletics Association

• Donation tax receipts
• Annual filings
• Quarterly reconciliation and distribution of funds raised for member clubs

8. Inventory of Goods

• Monthly inventory adjustment (minimal at this time)

9. Financial Oversight

• Regularly develop, review and upgrade CCC’s fiscal management systems, processes and policies
• Adhere to generally accepted financial policies and procedures
• Ensure sufficient training of CCC staff on financial policies and processes and provide advice as required
• Participate in meetings as required

Any other financial duties as assigned

Submission Requirements

Please submit the following documents to Meiko Lydall (meiko.lydall@cyclingcanada.ca) before November 14, 2025 at 5:00 p.m. ET:

• Fully-costed proposal
• Transition plan
• Resume or overview of firm + credentials
• Three references
• Please limit the proposal to 15 pages single-sided minimum font size 11

CCC is an equal opportunity employer. This contract / position is financially supported in part by Sport Canada.