GASB Lease Standards Engagement

DEPARTMENT OF FINANCE

Published: Aug 10, 2023

Updated: Jun 16, 2026

Source: chicago_contracts

This tender has been awarded

Awarded to DELOITTE & TOUCHE LLP — $50,000

Browse open Education & Training tenders in United States

About This Opportunity

Services contract awarded by Department OF Finance (United States): GASB Lease Standards Engagement. education & training. Awarded to DELOITTE & TOUCHE LLP.

This is a services contract in the education and training, finance and banking and audit and accounting sectors, with a focus on Public Finance and Accounting. Located in United States, North America, this opportunity is open to firms and consortiums, with an estimated budget of USD 50,000.

Published through Chicago Contracts, a national government procurement portal. Public procurement tenders follow the country's national bidding regulations and may have specific eligibility and documentation requirements for services in the education and training sector. Service contracts are typically evaluated on both technical quality and price, and may require bidders to demonstrate relevant experience and qualified personnel. This contract has already been awarded. The information is published for transparency and market intelligence purposes.

Description

The City of Chicago, through its Department of Finance and in conjunction with the Comptroller's office, is seeking proposals for professional services related to the implementation and ongoing management of GASB Lease Standards.

This procurement is specifically designed to engage a qualified vendor to provide expert guidance, technical assistance, and support in navigating the complex requirements of Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, and subsequent related pronouncements.

The scope of services is expected to encompass a comprehensive review of the City's existing lease agreements, development and implementation of robust internal controls and processes for lease accounting, and the provision of training to relevant City personnel. Successful bidders will be expected to demonstrate a deep understanding of GASB lease accounting principles, including the identification of lease and non-lease components, measurement of lease liabilities and assets, and the appropriate financial reporting disclosures. The engagement will require the vendor to assist the City in ensuring compliance with GASB pronouncements, thereby enhancing the accuracy and transparency of its financial statements. This is a critical initiative to align Chicago's financial reporting practices with current accounting standards, ensuring fiscal responsibility and accountability for public funds.

Data provenance

This notice is sourced from Chicago Contracts and was originally published on August 10, 2023. Last refreshed 10 days ago. BidsFactory mirrors official procurement notices and links back to the source for full legal text.

About DEPARTMENT OF FINANCE

DEPARTMENT OF FINANCE has issued 617 procurement notices on BidsFactory, including 4 currently open and 597 awarded contracts. Activity concentrates in Finance & Banking, Audit, Accounting & Risk, and Health & Medical. Tenders span 5 countries including Australia, Ireland, and United States. Notices are distributed via Chicago Contracts, ireland_etenders_csv, and UK FTS - Find a Tender Service. Most recent publication: June 15, 2026.

Frequently asked questions about this tender

What type of contract is this?

This is a Services contract in the Education & Training sector. The classification helps bidders match the opportunity to their qualifications and registered scope of supply.

How much was the contract awarded for?

DELOITTE & TOUCHE LLP was awarded the contract for $50,000. The figure reflects the value disclosed by the contracting authority in the award notice.

Where will the contract be performed?

The contract is for delivery in United States. Foreign bidders should review local registration, taxation, and any in-country presence requirements before submitting.

How can I submit a bid?

Visit Chicago Contracts to access the full notice, required documents, and submission instructions provided by the contracting authority.

Is this tender still open?

No — the contract has already been awarded to DELOITTE & TOUCHE LLP. The award notice is archived on BidsFactory for transparency and market intelligence.

Who is the contracting authority?

This notice was issued by DEPARTMENT OF FINANCE in United States. The authority is responsible for evaluating bids, awarding the contract, and managing performance.