RFP: External Auditing Services

Tifton Housing Authority
Request for Proposals
External Auditing Services
June 20, 2023

Introduction

The Tifton Housing Authority (THA) requests proposals from qualified firms of certified public accountants to audit its annual financial statements for the one-year period beginning October 1, 2023, and ending September 30, 2024, for the THA with an option to renew up to 4 additional years. The firm selected shall perform a fiscal audit for the twelve-month period ending September 30, 2023.

The Auditor will be selected by a review of the following basic factors:

1. The firm's qualifications to perform a Public Housing Authority audit,
   
   
2. The firm's planned approach to the audit, and
   
   
3. The firm's proposed price for the audit.

All proposals must be submitted in accordance with the guidelines specified in this Request for Proposals (RFP). Each proposal submitted should contain all information requested in the RFP.

General Information

The THA was established in 1952 under the United States Housing Act of 1937. The Tifton Housing Authority is an incorporated agency of local government which administers public and subsidized housing programs throughout the City of Tifton. The THA operates under an Annual Contributions Contract with the United States Department of Housing and Urban Development. The majority of the Authorities' revenues are generated from dwelling unit rentals and federal subsidies.

1. Firm Qualifications
   
   Each firm should include in Section I of its proposal the following items:
   
   
   1. A summary of the firm's organization and general history.
      
      
   2. A summary of the firm's experience in both governmental auditing and PHA auditing.
      
      
   3. A listing of both governmental audits and PHA audits performed. The listing of PHA audits performed should include the PHA address, telephone number, and the name of the appropriate contact person.
      
      
   4. A statement concerning the firm's peer review process. If the firm's peer review has been completed, evidence of satisfactory completion should be provided.
      
      
   5. A summary of the professional backgrounds of each staff member expected to be assigned to the audit.
      
      
   6. A copy of the current state certification of the IPA.
      
      The THA reserves the right to reject any proposal submitted by a firm not possessing the necessary government and PHA auditing experience.
      
      
2. Planned Approach to the Audit
   
   This section of the proposal should describe the auditor's plan for conducting the audit(s). Specifically, this section should include the following information:
   
   
   1. An audit work program and schedule for the FYE 9/30/2023 audit should begin no later than February 2024.
      
      
   2. A summary of the firm's planned use of personnel. This summary should describe how many hours and what level of staff is to be devoted to the various portions of the work program.
      
      
   3. A summary of the auditor's planned methods of transaction sampling for the various types of transactions (purchase orders, AP checks, PR checks, etc.).
      
      
3. Proposed Audit Price
   
   Each firm should provide its proposed price for each year of the audit contract. The final result of each year's price calculation should be a fixed fee for each year of the audit. Travel costs should be included in the fixed fee.
   
   Relevant information that should be considered by the proposing firm is listed below:
   
   
   1. Authority staff will assist the Auditor as much as possible in locating documents or transactions required for the audit. In addition, most of the materials needed for the audit will be kept in an accessible, central location during the entire length of the audit so that auditors can have maximum access to them.
      
      
   2. All clerical work involved in the preparation of the final audit report and any other schedules, verifications, etc., will be totally the responsibility of the auditor. The auditor should be careful to take into account in his proposed price the cost of producing 15 copies of the audit report as required in the contract.
      
      It is important for all firms submitting proposals to realize that proposed price, while important, is not the only criterion for auditor selection. Each firm should submit a proposed price that will adequately cover the actual costs of performing the audit. The Tifton Housing Authority reserves the right to reject any proposals containing an obviously unrealistic proposed price.
      
      Instructions for RFP Submission
      
      Prior to the actual submission of proposals, any firm who wishes to meet with representatives of the housing authority will be allowed to do so. All such meetings must be arranged in advance, and any travel costs associated with such a meeting are the responsibility of the auditing firm.
      
      The Tifton Housing Authority must receive completed proposals no later than 12:00 p.m., Thursday, July 25, 2023. All proposals should be mailed or delivered to the following address:
      
      Physical Address 
      Shaundra Clark
      Tifton Housing Authority
      1425 North Tift Avenue, Bldg. 15
      Tifton, GA 31794
      
      Mail Address
      Shaundra Clark
      Tifton Housing Authority
      P. O. Box 12
      Tifton, GA 31793
      
      Proposals may be emailed to Shaundra Clark via email.
      
      The THA reserves the right to reject any and all bids and to waive any informality in the bidding. The THA also reserves the right to sign the contract for less than three fiscal years.
      
      
4. Programs to be Audited
   
   Tifton Housing Authority
   
   Audit bids for services rendered should reflect the costs of auditing management, Capital Funds, and special programs. The following is a list of THA Programs:
   
   
   1. A conventional public housing program with 337 units.
      
      
   2. A special projects fund.
      
      
   3. Multifamily Program (RAD Conversion) - 44 Units (This program includes an operating account, a reserve account, and a special projects account.)
      
      
   4. Capital Fund Program
      
      Program Type/Year Funded
      Capital Fund 2019 
      Capital Fund 2020 
      Capital Fund 2021
      Capital Fund 2022
      Capital Fund 2023
      
      The proposal shall list the cost of each program as follows:
      
      
      1. Public Housing Program
         
         
      2. Capital Fund Program
         
         
      3. Tifton Housing Partners, Inc. Multifamily Program (PBRA)
         
         
      4. Special Projects Fund
         
         
5. Audit Guide
   
   The Tifton Housing Authority shall be audited in accordance with Governmental Generally Accepted Accounting Principles (GAAP) or the current required audit procedures.