RFQ: Audit Services
For complete details regarding this this Request for Qualifications, contact Carol Ruffin, Finance Director, Rocky Mount Housing Authority; email to cruffin@rm-ha.org.
The Rocky Mount Housing Authority (RMHA) is a medium-sized Public Housing Authority serving the housing needs of lower-income residents of the City of Rocky Mount, North Carolina. The Conventional Public Housing, Capital Fund and Homeownership Programs assists approximately 756 families within RMHA-owned and managed properties. The Section 8 Housing Program administers the Federal Housing Choice Voucher and Section 8 New Construction Programs which assist approximately 320 families. We also have a component unit, South Eastern North Carolina Community Development Corporation (SENCCDC), which requires a separate audit and reporting. An agency overview for RMHA is available at Rocky Mount Housing Authority North Carolina (rm-ha.org). The Rocky Mount Housing Authority closely follows HUD Guidelines and follows Procurement Regulations 2 CFR Part 200. RMHA also follows the North Carolina Public Records Act and conducts all procurement procedures in accordance with state regulations.
RMHA invites qualified, independent auditors (hereinafter called "auditor") having sufficient governmental accounting and auditing experience in performing an audit in accordance with the specifications outlined in this Request for Qualification (RFQ) to submit a proposal.
There is no expressed or implied obligation for RMHA to reimburse firms for any expenses incurred in preparing proposals in response to this request.
- Scope of Services:
The audit will be in accordance with generally accepted auditing standards as included in Statements on Auditing Standards, the GAO Government Auditing Standards, GAO Guidelines for Financial and Compliance Audits of Federally Assisted Programs, Federal OMB Circular A-128 and Circular A- 87, the Single Audit Act of 1984, AICPA Statement of Position 92-7 Audits of State and Local Governmental Entities Receiving Federal Financial Assistance, and Laws of the State of North Carolina.
The Annual Financial Statements include the basic financial statements, required and other supplementary information, and compliance reports. - Audit Service Period:
The Housing Authority intends to continue the relationship with the selected auditor for a three (3)year term and is subject to annual review and recommendation of the CEO.
- January 01, 2024, through December 31, 2024 (Fiscal Year 2024)
- January 01, 2025, through December 31, 2025 (Fiscal Year 2025)
- January 01, 2026, through December 31, 2026 (Fiscal Year 2026)
- Audit Service Requirements:
- The audit must be conducted in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; Office of Management and Budget Circular A-133, and Audits of States, Local Governments.
- The auditor should also be familiar with and prepared to advise Housing Authority Staff on how best to implement both current and proposed GASB Statements. In addition, the auditor is expected to provide informal advice and consultation, throughout the year, on matters relating to accounting and financial reporting. This would not necessarily include any task that entails significant research or a formal report.
- Should circumstances arise during the audit that requires significant additional work to be performed in excess of the amounts set forth in the contract, additional costs shall be negotiated prior to commencement of the work, and an amended contract will be submitted for approval.
- The Housing Authority is responsible for balancing all accounts at year-end and will furnish work papers in conjunction with the audit engagement. The Housing Authority will prepare a preliminary draft of the financial statements in a format suitable for publication to be reviewed by the auditor. The auditor will provide recommended adjusting journal entries to be reviewed by the Housing Authority.
- Following the completion of the audit of the fiscal year's financial statements, the auditor shall issue:
- A report on the fair presentation of the financial statements in conformity with generally accepted accounting principles for the Housing Authority. The financial audit opinion will cover the basic financial statements. The audit shall lead to the expression of an unqualified opinion on the financial statements unless the auditor justifies to the Housing Authority, in advance and in writing, the reasons for an opinion that is other than unqualified. Certain combining schedules and related information are not necessary for a fair presentation, but will be presented as additional analytical data. This supplementary information will be subjected to tests and other auditing procedures applied in the audit of the basic financial statements; and an opinion will be given as to whether the supplemental information is fairly stated in all material respects, in relation to the financial statements taken as a whole.
- A report on compliance and on the internal control over financial reporting, based on an audit of financial statements performed in accordance with Government Auditing Standards (Single Audit).
- A report on compliance with requirements applicable to each major program and internal control over compliance in accordance with OMB Circular A-133 (Single Audit).
- A schedule of findings and questioned costs (Single Audit).
- A report on the fair presentation of the financial statements in conformity with generally accepted accounting principles for the Housing Authority. The financial audit opinion will cover the basic financial statements. The audit shall lead to the expression of an unqualified opinion on the financial statements unless the auditor justifies to the Housing Authority, in advance and in writing, the reasons for an opinion that is other than unqualified. Certain combining schedules and related information are not necessary for a fair presentation, but will be presented as additional analytical data. This supplementary information will be subjected to tests and other auditing procedures applied in the audit of the basic financial statements; and an opinion will be given as to whether the supplemental information is fairly stated in all material respects, in relation to the financial statements taken as a whole.
- The audit fieldwork must be completed during May and June following the fiscal year-end and final reports for the Housing Authority must be rendered by August 30th.
- Each annual audit may include written recommendations made to management which address any findings, observations, opinions, or comments relating to internal controls, financial systems, compliance, or other matters that come to the attention of the auditors during the examination. This management letter shall be provided in draft form prior to publication of the annual financial statement, and discussed with the CEO and the Chief Accounting Officer. The draft of the management letter shall be provided by approximately August 1st.
- The working papers shall be retained, at the auditor's expense, and made available upon request by the Housing Authority or any cognizant agency for no less than five years from the date of the audit report.
- In addition to the report and opinion issued for the Housing Authority, the auditor may be requested to review and issue opinions on separate reports for each of the component units utilizing appropriate standards.
- The audit must be conducted in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; Office of Management and Budget Circular A-133, and Audits of States, Local Governments.
Time Schedule & Submittal Format for Awarding the Contract:
- Request for proposal packages will be available via: Rocky Mount Housing Authority | North Carolina (rm-ha.org) on November 01, 2024.
- The RFP must be received no later than: 4:00 PM, EST, November 24, 2024. Late bids will not be accepted.
- Proposals must be submitted: one (1) original hard copy and five (5) copies of the proposals in sealed envelopes, as described in the selection process clearly identifying the first section and the second section.
- The envelopes must include the following information: Firm Name, Bid Number, Bid Description. The original hard copy must be stamped "MASTER".
- One (1) electronic copy either on, CD/ROM, DVD, or thumb drives may also be submitted with the proposal in addition to the hard copies. Electronic copies will only be accepted with the hard copy proposal.
- Submit to:
Carol Ruffin, Finance/Compliance Director
Housing Authority of the City of Rocky Mount
IT Support Service Proposal
P.O. Box 4717; (1065 Pinehurst Drive)
Rocky Mount, N.C. 27803
Deadline for questions: November 11, 2024, EDT. The answers to questions received will be posted by November 15, 2024, by the end of the business day. All questions and answers will be posted on the website at Rocky Mount Housing Authority | North Carolina (rm-ha.org).
All inquiries should be sent via email to Carol Ruffin, Cruffin@rm-ha.org.