RFP for Audit Services

The Housing Authority of Monroe County (HAMC) will accept proposals from Certified Public Accounting Firms for audit services for the HAMC's annual audit for one (1) year with five one year options. Year one will be for the fiscal year ending (FYE) December 31, 2024, and the five one year options will include through (FYE) ending December 31, 2029. Interested firms shall submit its bid pursuant to the Penn Bid process https://pennbid.bonfirehub.com. The proposals must be submitted no later than 2:00 p.m., Thursday, October 31, 2024. ALL QUESTIONS REGARDING THIS PROJECT MUST BE SUBMITTED ONLINE. THE WILL BE ANSWERED ONLINE. DEADLINE TO SUBMIT QUESTIONS: October 25, 2024 Firms should be prepared to present cost information in a flat yearly fee for each of the six one-year periods. Fee will include all required submissions and reports of the United States Department of Housing and Urban Development (HUD) and any other public entity. The contract period shall be for one year and will be subject to five renewal periods upon negotiation for continuation and approval by HAMC. HAMC reserves the right to reject any or all proposals and to select the firm, which in its judgment, best meets the needs of HAMC. General Information Only Certified Public Accountants, licensed in the Commonwealth of Pennsylvania, may respond to this RFP. Proposals must be submitted and received pursuant to the Penn Bid process, no later than 2:00 p.m. on October 31, 2024.
AUDIT OBJECTIVES AND SCOPE OF SERVICES A. HAMC requires an audit in accordance with 0MB Circular A-133 for the following programs: Public and Indian Housing (PIH) Section 8 Housing Choice Vouchers (HCV) Capital Fund (CFP) Continuum of Care (COC) Business Activities (BA) 0MB A-133 Audit: The Authority requires a financial compliance audit of the basic financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP) for governmental entities, as prescribed by the Government Auditing Standards Board (GASB). The Audit will be performed in accordance with generally accepted auditing standards and the standards applicable to financial and compliance audits contained in "Government Auditing Standards", issued by the Comptroller General of the United States; Single Audit Amendments of 1996; the provisions of Office of Management and Budget Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations"; any Compliance Supplements; and the provisions of the U.S. Department of Housing and Urban Development's Handbooks 7476.1 and 2000.04 as applicable, and all other HUD directives issued. The reporting package and Data Collection Form must be filed with the Single Audit Clearinghouse. Small, Minority-Owned, and/or Women's Business Enterprises: Efforts will be made by HAMC to utilize small, minority-owned, and/or women's business enterprises. An offeror qualifies as a small business firm, if it meets the definition of "small business" as established by the Small Business Administration. B. The following financial statements shall be prepared for each of these programs: Public and Indian Housing (PIH) Section 8 Housing Choice Vouchers (HCV) Capital Fund (CFP) Continuum of Care (COC) Business Activities (BA)
Balance Sheet Income Statement Statement of Cash Flows
C. the audit will be a financial and compliance audit as required by the U.S. General Accounting Office's (GAO) Government Auditing Standards. D. Accompanying the financial statements, the Auditor will submit a Management Letter of Comments and Recommendations, if applicable. E. The Auditor will comply with all HUD guidelines and requirements existing and those that will or may affect future years of this contract. F. The Audit shall comply with all HUD rules, regulations, and guidelines. Each audit report shall contain at least the following: 1. The annual financial statement and any supplementary data required within the scope of the audit. 2. The Auditor's study and evaluation of the entity's system of internal accounting control. The auditor's report shall identify any deficiencies uncovered and make appropriate suggestions to correct any deficiencies found and identified. 3. Compliance matters which may have a material effect on the financial statements shall be reported. Methods of correction shall be suggested. 4. A statement that the audit was made in accordance with generally accepted government auditing standards as well as all applicable laws and provisions. 5. The Auditor in charge will conduct an exit conference with the Executive Director and other staff. At the exit conference, findings and recommendations regarding compliance and internal controls shall be discussed. G. Data from prior years will be available upon request if there are not open audit findings from previous years. H. No audit shall be published until the draft submitted to the Executive Director is reviewed and accepted. I. The Auditor shall also submit to the Federal Clearinghouse the data collection form, SF-SAC, Data Collection Form for Reporting on Single Audits, and one copy of the reporting package (as defined in 0MB Circular A-133, Section 320). A copy of the reporting package submitted to the Federal Clearinghouse for the Single Audit shall also be submitted to the local HUD office. J. The unaudited financial data schedule must be completed and submitted to REAC no later than February 28th of each year. The Housing Authority of Monroe County (HAMC) will accept proposals from Certified Public Accounting Firms for audit services for the HAMC's annual audit for one (1) year with five one year options. Year one will be for the fiscal year ending (FYE) December 31, 2024, and the five one year options will include through (FYE) ending December 31, 2029. Interested firms shall submit its bid pursuant to the Penn Bid process. The proposals must be submitted no later than 2:00 p.m., Thursday, October 31, 2024. Firms should be prepared to present cost information in a flat yearly fee for each of the six one-year periods. Fee will include all required submissions and reports of the United States Department of Housing and Urban Development (HUD) and any other public entity. The contract period shall be for one year and will be subject to five renewal periods upon negotiation for continuation and approval by HAMC. HAMC reserves the right to reject any or all proposals and to select the firm, which in its judgment, best meets the needs of HAMC. General Information Only Certified Public Accountants, licensed in the Commonwealth of Pennsylvania, may respond to this RFP. Proposals must be submitted and received pursuant to the Penn Bid process, no later than 2:00 p.m. on October 31, 2024. AUDIT OBJECTIVES AND SCOPE OF SERVICES A. HAMC requires an audit in accordance with 0MB Circular A-133 for the following programs: Public and Indian Housing (PIH) Section 8 Housing Choice Vouchers (HCV) Capital Fund (CFP) Continuum of Care (COC) Business Activities (BA) 0MB A-133 Audit: The Authority requires a financial compliance audit of the basic financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP) for governmental entities, as prescribed by the Government Auditing Standards Board (GASB). The Audit will be performed in accordance with generally accepted auditing standards and the standards applicable to financial and compliance audits contained in "Government Auditing Standards", issued by the Comptroller General of the United States; Single Audit Amendments of 1996; the provisions of Office of Management and Budget Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations"; any Compliance Supplements; and the provisions of the U.S. Department of Housing and Urban Development's Handbooks 7476.1 and 2000.04 as applicable, and all other HUD directives issued. The reporting package and Data Collection Form must be filed with the Single Audit Clearinghouse. Small, Minority-Owned, and/or Women's Business Enterprises: Efforts will be made by HAMC to utilize small, minority-owned, and/or women's business enterprises. An offeror qualifies as a small business firm, if it meets the definition of "small business" as established by the Small Business Administration. B. The following financial statements shall be prepared for each of these programs: Public and Indian Housing (PIH) Section 8 Housing Choice Vouchers (HCV) Capital Fund (CFP) Continuum of Care (COC) Business Activities (BA) 1. Balance Sheet 2. Income Statement 3. Statement of Cash Flows C. the audit will be a financial and compliance audit as required by the U.S. General Accounting Office's (GAO) Government Auditing Standards. D. Accompanying the financial statements, the Auditor will submit a Management Letter of Comments and Recommendations, if applicable. E. The Auditor will comply with all HUD guidelines and requirements existing and those that will or may affect future years of this contract. F. The Audit shall comply with all HUD rules, regulations, and guidelines. Each audit report shall contain at least the following: 1. The annual financial statement and any supplementary data required within the scope of the audit. 2. The Auditor's study and evaluation of the entity's system of internal accounting control. The auditor's report shall identify any deficiencies uncovered and make appropriate suggestions to correct any deficiencies found and identified. 3. Compliance matters which may have a material effect on the financial statements shall be reported. Methods of correction shall be suggested. 4. A statement that the audit was made in accordance with generally accepted government auditing standards as well as all applicable laws and provisions. 5. The Auditor in charge will conduct an exit conference with the Executive Director and other staff. At the exit conference, findings and recommendations regarding compliance and internal controls shall be discussed. G. Data from prior years will be available upon request if there are not open audit findings from previous years. H. No audit shall be published until the draft submitted to the Executive Director is reviewed and accepted. I. The Auditor shall also submit to the Federal Clearinghouse the data collection form, SF-SAC, Data Collection Form for Reporting on Single Audits, and one copy of the reporting package (as defined in 0MB Circular A-133, Section 320). A copy of the reporting package submitted to the Federal Clearinghouse for the Single Audit shall also be submitted to the local HUD office. J. The unaudited financial data schedule must be completed and submitted to REAC no later than February 28th of each year.