RFP Process
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RFP Process

  • Current RFP for Auditing Services: Due August 27, 2014 by 9am CT
Responses to Questions:

In section 1.1 it states the RFP is for the fiscal year 2013 and in section 2.1 it states the RFP is for the fiscal year ended June 30, 2015.  Can you please clarify the terms of the engagement?

  • 2013 was a typo. Engagement is for fiscal year ending June 30, 2015.

Section 1.2 indicates a projection of serving up to 300 students in the first year. Can you provide an update on actual number of students enrolled in the 14-15 school year?

  • We have 300 students enrolled currently.

What, if any, federal funding will the school obtain in the 2014-15 Fiscal year?  And what are the budgeted expenditures for each of the federal funds?

  • Our most significant federal funding will come from the Federal Start-up Grant. In FY 2015, we will spend approximately $780k under that grant. Minimal Title I funds are budgeted. 

What other sources of revenue (and the projected dollar amounts by source) will the school obtain?

  • State funding: $1.7mm
  • Local funding (Pre-K Tuition payments, after school care payments, etc): $400k

Who will prepare the financial statements – management or auditors?

Auditors

What accounting software are you using? If it is hosted online, would it be possible for us to have remote, read-only access to it should we be selected as your auditors? Should the 990 return be part of the proposal or do you have someone else preparing that? Will the year ending June 30, 2014 be audited or should we plan on testing those beginning balances as part of the June 30, 2015 audit?

  1. TxEIS and yes
  2. Yes include as part of proposal
  3. No year 2014 won’t be so just testing beginning balances

Section 1.1 of the RFP states that the proposal is for an audit for the fiscal year 2013 with one optional renewal. Section 2.1 of the proposal states “The term of the audit services… for the year ended June 30, 2015.” Please clarify the fiscal year to be audited.

See above.

Please provide a draft of the financial statements, if available, to be audited or the latest available financial statements. If financial statements are not available please provide a trial balance of the books of account.

  • As part of this RFP, we’re posting all answers to questions on our website. We won’t be posting this information on our website, so we will not be providing now.

Please let us know if you would like for us to assist in the preparation of the financial statements to be included in the audit report.

  • See above.

Please provide the amount of federal financial assistance in the year to be audited. (This is needed to determine if a single audit is required).u

  • See above

Do you have a contracted accountant or CPA preparing your books of account?

  • No

Has your I filed an IRS form 990? If so please provide a copy.

  • Yes we have. As per question 2, we won’t be posting this information on our website, so we will not be providing now.