RFP – Auditing Services

"REDEVELOPMENT AUTHORITY OF THE\nCOUNTY OF CUMBERLAND &\nHOUSING AUTHORITY OF THE COUNTY OF\nCUMBERLAND\n\nREQUEST FOR\nPROPOSALS\n\nCertified Public Accountant Auditors\n\nHOUSING & REDEVELOPMENT AUTHORITIES\n\nOF CUMBERLAND COUNTY\n\nBetter Places, Better Lives\n" "REQUEST FOR PROPOSALS\n\nREDEVELOPMENT AUTHORITY OF THE COUNTY OF CUMBERLAND & HOUSING\n\nAUTHORITY OF THE COUNTY OF CUMBERLAND\n\nINTRODUCTION\n\nA.\n\nIT\n\nID\n\nGeneral Information :\n\nThe Redevelopment Authority ofthe County of Cumberland (RA) and the Housing Authority ofthe\nCounty of Cumberland (HA), together considered the Authorities (Authorities), are requesting\nproposals from qualified certified public accounting firms to audit both entities\u2019 financial statements\nfor the fiscal years of 2024 and 2025 with an optional 1-year extension for 2026. This audit is to\nbe performed in accordance with auditing standards generally accepted in the United States of\nAmerica; the standards applicable to financial

audits contained in Government Auditing\nStandards, issued by the Comptroller General of the United States, and (if applicable) the audit\nrequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative\nRequirements, Cost Principles, Single Audit Act of 1984 as amended by OMB Circular A-133 and\nAudit Requirements for Federal Awards (Uniform Guidance).\n\nThe HA was established in 1975 and it is managed by the RA. The Authorities\u2019 fiscal year-end is\nJune 30, 2024. The Authorities\u2019 financial records and tenant records are maintained in SGA\nsoftware and MRI/Tenmast.\n\nThere is no expressed or implied obligation for the RA or HA to reimburse responding firms for\nany expense incurred in preparing proposals in response to this request.\n\nTo be considered, a proposal must be received electronically by 4:00 PM (Prevailing Time),\non April 1, 2024. The Authorities reserve the right to reject any or all proposals submitted.\n\nDuring the evaluation process, the Authorities reserves the right, where it may serve the\nAuthorities\u2019 best interest, to request additional information or clarifications from proposers, or to\nallow corrections of errors or omissions. At the discretion of the Authorities, firms submitting\nproposals may be requested to make oral presentations as part ofthe evaluation process.\n\nThe Authorities reserve the right to retain all proposals submitted and to use any ideas in a\nproposal regardless of whether that proposal is selected. Submission of a proposal indicates\nacceptance by the firm of the conditions contained in this request for proposals, unless clearly\nand specifically noted in the proposal submitted and confirmed in the contract between the\nAuthorities and the firm selected.\n\nItis anticipated the selection ofa firm will be completed by Aprit 18, 2024. Following the notification\n\nof the selected firm it is expected a contract will be executed between both parties no later than\nthe end of May 2024.\n\nTerm of Engagement:\n\nA two (2) year contract is contemplated for fiscal years 2024, and 2025 with a possible extension\nif year 2026 rates are held for subsequent years.\n\nSubcontracting :\n" "Firms submitting proposals are encouraged to consider subcontracting portions of the\nengagement to small audit firms or minority or women owned firms. If this is to be done, that fact,\nand the name of the proposed subcontracting firms, must be clearly identified in the proposal.\nFollowing the award ofthe audit contract, no additional subcontracting will be allowed without the\nexpress prior written consent of the Authorities.\n\nNATURE OF SERVICES REQUIRED\nA. General:\nThe Authorities are soliciting the services of qualified firms of certified public accounts to audit its\n\nfinancial statements for the calendar years 2024, 2025 and 2026. These audits are to be\nperformed in accordance with the provisions contained in this Request for Proposals.\n\nIm\n\nScope of Work to be Performed:\n\nThe Authorities desire the auditor to express an opinion of the fair presentation of its general-\npurpose financial statements in conformity with generally accepted accounting principles. The\nauditor shall also be responsible for performing certain limited procedures involving required\nsupplementary information mandated by the Governmental Accounting Standards Board in\naccordance with auditing standards generally accepted in the United States of America. The\nauditor is not required to audit the schedule of federal awards if a single audit is necessary.\nHowever, the auditor is to provide an \"in-relation-to\u201d report on that schedule based on the auditing\nprocedures applied during the audit of the financial statements.\n\n[02 Auditing Standards to be Followed :\nThe Auditor will adhere to the general requirements provided below.\n\n1. Audit Standards (Single Audit). It is expected that the audit services will be performed in\naccordance with Generally Accepted Auditing Standards (GAAS) as set forth by the American Institute of\nCertified Public Accountants (AICPA) and Generally Accepted Governmental Auditing Standards (GAGAS)\nas issued by the US Government Accountability Office (GAO). The audit also must meet all requirements\nset forth in Title 2 U.S. code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements,\nCost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), or any successor\nissuance, and/or any HUD or other Federal agency requirement, which are in effect as of the date ofthe\naudit onsite fieldwork.\n\n2. State Requirements. Any state audit requirements and procedures are expected to be\nproperly performed and completed as part of this scope of work.\n\n3. Audit Report. The auditor will provide one (1) original unbound & one (1) electronic\nincluding the Single Audit report to the Executive Director.\n\n4. Retention of Work Papers. The auditor shall retain work papers for a minimum of five (5)\nyears after the date of issuance of the auditor's report to the Agency.\n\n5. Access to Working Papers. Audit work papers shall be made available upon request by\nthe Agency, HUD, or any other governmental agency having jurisdiction to such request (i.e., Office of\nInspector General), and are to be made available to the requested party within 10 days of receipt of such\nrequest. All reports rendered to the Agency by the auditor are the exclusive property ofthe Agency and is\nsubject to the Agency's use and control, according to applicable laws and regulations.\n\n6. Inquiries from Successor Auditors. The audit firms shall respond to the reasonable\ninquiries of successor auditors and allow successor auditors to review working papers relating to matters of\ncontinuing significance.\n" "7. Compliance with Laws. The Auditor agrees to be bound by applicable Federal, State, and\nLocal laws, regulations, and directives as they pertain to the performance of the audit contract.\n\nD. Specific Services\n\nThe Contractor will provide the llowing servicesitasks for audit services commencing with the Authorities\u2019\nfiscal years ending June 30, 2024.\n\n1. Perform a financial statement and compliance audit ofthe Authorities in accordance with\nstandards as described under the General Requirements section. The statements to be provided by the\nhousing agency include the following:\n\na. Statement of Net Position\nb. Statement of Revenue, Expenses, and Changes in Net Position\n6, Statement of Cash Flows\n\nd. Notes to Financial Statements\n\ne. Management Discussion & Analysis\nf. Schedule of Expenditures of Federal Awards\n2. As part ofthe engagement, the auditor will provide the following reports.\na. Independent Auditor's report, including in relation to opinions: (1) Management Discussion\n\nand Analysis, (2) Financial Data Schedule, (3) Schedule of Expenditures of Federal Awards\n\nb. Independent Auditor's Report on Internal Control over Financial Reporting on Compliance\nand other Matters Based on an Audit of Financial Statements Performed in Accordance with Government\nAuditing Standards\n\nc. Independent Auditor's Report on Compliance for Each Major Program and Internal Control\nOver Compliance as Required by the Uniform Reporting Guidance\n\nd. Schedule of Findings and Questioned Costs\n\ne. Any other report as needed to be compliant with current audit standards and HUD, other\nFederal agency, and state requirements, including HUD's Capital Fund Grant Close-out Cost Certificates\n\n3. Provide with the annual audit, written recommendations made to management which address\nany findings, observations, opinions, or comments relating to internal controls, financial systems,\ncompliance, or other matters that come to the attention of the auditor during the examination. The\nmanagement letter shall be provided in draft form prior to publication of the annual financial statement and\nbe discussed with the Executive Director and other appropriate housing agency staff.\n\n4. The auditor will assist in the submission ofthe unaudited Financial Data Schedule (FDS) to HUD\n(Real Estate Assessment Center). The auditor will review any HUD comments provided on the unaudited\nFDS submission and last year's audited submission and address accordingly.\n\n5. The auditor will perform the HUD required Agreed-upon Procedures related to the submission of\nthe audited FDS upon completion of the audit and if necessary, any re-submission as required by HUD.\n\n6. The auditor will complete and transmit the Data Collection form to be filed with the Federal\nClearinghouse.\n\n@ An exit conference is required of the auditor upon completion of fieldwork with the Finance\nCommittee to inform them of pertinent findings.\n" "8.\n\na. A formal presentation of the report by the auditor to the RA & HA Boards as required.\n\nAudit Timeline - Cumberland County Housing & Redevelopment Authorities\u2019 fiscal year ends\n\nJune 30. The audit for FY 2024 will be required to be performed prior to March 21st, 2025, and the audit\nreport must be submitted to HUD by March 31st, 2025.\n\nE.\n\nF.\n\nReports to be Issued :\n\nFollowing the completion of the audit of the fiscal year's financial statements, the auditor shall\nissue!\n\n1. A report on the fair presentation of the financial statements in conformity with generally\naccepted accounting principles.\n\n2. A report on internal control over financial reporting and on compliance and other matters\nbased on an audit of financial statements performed in accordance with Government\nAuditing Standards.\n\n3. An \u201cin-relation-to\" report on the schedule of federal awards, if applicable.\n\n4. A report on compliance for each major program and on internal control over compliance\nrequired by the Uniform Guidance, if applicable.\n\nA deficiency in internal control exists when the design or operation of a control does not allow\nmanagement or employees, in the normal course of performing their assigned functions, to\nprevent, or detect and correct, misstatements on a timely basis. A material weakness is a\ndeficiency, or a combination of deficiencies, in internal control such that there is a reasonable\npossibility that a material misstatement of the entity\u2019s financial statements will not be prevented,\nor detected and corrected on a timely basis. A significant deficiency is a deficiency, or a\ncombination of deficiencies, in internal control that is less severe than a material weakness, yet\nimportant enough to merit attention by those charged with governance. The reports on\ncompliance shall include all material instances of non-compliance.\n\n5. Schedule of findings and questioned costs. Auditors shall be required to make an\nimmediate, written report of all irregularities and illegal acts or indications of illegal acts of which they\nbecome aware of the RA. Auditor shall assure themselves that the RA is informed of each of the\nfollowing:\n\n1) The auditor's responsibility under generally accepted auditing standards.\n2) Significant account policies.\n\n3) Management judgments and accounting estimates.\n\n4) Significant audit adjustments.\n\n5) Other information in documents containing audited financial statements.\n6) Disagreements with management.\n\n7) Management consultation with other accountants.\n\n8) Major issues discussed with management prior to retention.\n\n9) Difficulties encountered in performing the audit.\n\nSpecial Considerations:\n"