REQUEST FOR PROPOSAL FOR AUDIT SERVICES
The Board of the Northwest Florida Transportation Corridor Authority (NFTCA) is requesting proposals from qualified firms of certified public accountants to audit its financial statements for the fiscal years ending September 30, 2006, 2007, 2008, 2009, and 2010. These audits are to be performed in accordance with general auditing standards in addition to the following:
(1) Section 218.39, Florida Statutes
(2) Rules of the Florida Department of Financial Services
(3) Rules of the Auditor General (Chapter 10.550, Local Government Entity Audits)
(4) AICPA Audit and Accounting Guide Audits of State and Local Governmental Units
(5) Federal and Florida Single Audit Acts as appropriate based on funding and expenditures in a given year
(6) Circular No. A-133, Executive Office of the President, Office of Management and Budget, Washington, DC as appropriate based on funding and expenditures in a given year
I. General Information
(1) The NFTCA is an independent special district created by the Florida Legislature in 2005. It is governed and established by Part IV of Chapter 343 of the Florida Statutes. Its primary purpose is to improve mobility on the U.S. 98 corridor in northwest Florida to enhance traveler safety, identify and develop hurricane evacuation routes, promote economic development along the corridor, and implement transportation projects to alleviate current or anticipated traffic congestions. The NFTCA has had a very simple financial structure for its entire existence. All revenues to date are comprised of periodic funding through the Florida Department of Transportation. Expenditures to date have been limited to monthly payments to one consultant and to the NFTCAs attorney. Due to funding issues, the NFTCA has never hired an auditor to conduct an independent audit. Therefore, the NFTCA requires that the selected firm to perform audits for all prior years as required by law.
Despite the current simplicity of the NFTCA financial structure, it is anticipated that it could become more complex as transportation projects are funded and implemented in the coming years. The NFTCA has the potential to plan, seek regulatory approvals, construct, and operate transportation projects including projects funded by toll facilities. The NFTCA also has the potential to enter into public private partnerships to do the same.
(2) Questions regarding the Request for Proposal (RFP) are to be addressed to:
Ray Reissener
Vice President
HDR, Inc.
109 Harrison Avenue
Panama City, FL 32401-2725
Phone: (850)215-4081
(3) All responses to this RFP must be received as soon as possible, but no later than 12:00 Noon (CST), May 10, 2009, at the address listed above. Original and nine signed copies of your proposal shall be submitted in one sealed package, clearly marked on the outside Proposal for Independent Auditing Services. All responses received by the deadline above will be unsealed at 1:15 p.m. (CST), May 10, 2009, at the address listed above. Any responses received after the deadline will be returned to the proposer unopened and marked RECEIVED AFTER DEADLINE. No costs incurred by the responding firms in preparing proposals to this request shall be reimbursed by the NFTCA.
(4) The Audit Committee consists of the Chairman, Vice Chairman, and Secretary Treasurer of the NFTCA.
(5) The Audit Committee reserves the right to reject any or all proposals submitted and to request additional information from the proposers. At the discretion of the NFTCA or the Audit Committee, firms submitting proposals may be requested to make oral presentations as part of the evaluation process.
(6) The NFTCA reserves the right to retain all proposals submitted and to use any ideas in a proposal regardless of whether that proposal is selected. Submission of a proposal indicates acceptance by the firm of the conditions contained in this request for proposals, unless clearly and specifically noted in the proposal submitted and confirmed in the contract between the NFTCA and the firm selected.
(7) The Audit Committee will rank the proposers and recommend the highest ranked firm in accordance with Section 218.391, Florida Statutes, to the NFTCA.
(8) It is anticipated that the NFTCA will choose a proposer at its May 21, 2009 meeting. The NFTCA will notify all proposers that will be considered at that meeting. The chosen proposer must be prepared to begin contract negotiation immediately. It is anticipated that the NFTCA will enter into a contract for services related to fiscal years ending September 30, 2006, 2007, 2008, 2009, 2010.
(9) All requirements and conditions set forth in this RFP shall be incorporated into the contract between the NFTCA and the selected firm unless expressly provided otherwise by the contract.
II. Services Required
(1) Conduct audit and prepare all related reports and documents, including an Annual Financial Report, required of NFTCA under state and federal law for the fiscal years ending September 30, 2006, 2007, 2008, 2009, 2010.
(2) Provide guidance and assist in implementing improvements in the NFTCAs accounting practices.
(3) Audit services required for the fiscal years ending September 30, 2006, 2007, and 2008 must be completed as soon as possible after the engagement between NFTCA and the proposer commences. A proposers willingness and ability to complete these services promptly shall be a factor in the ranking and selection of firms. As discussed above, the revenues and expenditure for the fiscal year ending September 30, 2006, 2007, and 2008 are very simple and, therefore, it is not anticipated that audit related services for those years will require significant time.
III. Information to be Included in the Proposal
(1) Title page showing the RFP subject, the name of the firm, address, telephone number, the name of the contact person and the date.
(2) A table of contents providing a clear identification of the material by section and by page number.
(3) A statement setting forth the proposers understanding of the work to be done and a positive commitment to perform the work within the time periods required by law. This statement shall also discuss the proposers willingness and ability to complete Audit services required for the fiscal years ending September 30, 2006, 2007, and 2008 on an expedited basis as well as an estimated date of completion for those services.
(4) A statement providing rates of compensation per hour for each employee type that will perform services under the contract with the NFTCA along with an estimate of the percentage of the services to be conducted by each employee type. In addition, include a list all expense types that will be charged to the NFTCA and the charge for each.
(5) A statement as to whether the firm is local, regional or national.
(6) The location of any office from which the work is to be done. If work will be done from multiple offices, provide an explanation and estimated percentage of the work that will be done from each office.
(7) An identification of the partners, managers and supervisors who will work on the audits, including staff from other than the local office if necessary for the audits. Resumes for each managerial and supervisory person to be assigned to the audit should be submitted and include the following information:
a. Formal education
b. Supplemental education relative to governmental accounting and auditing
c. Experience in public accounting in general
d. Experience in private business or government
e. Experience in auditing governmental units
f. Membership in various national and state governmental accounting boards, committees, or associations (past and present)
g. Professional recognition, such as Certified Public Accounting licenses, awards, etc.
(8) Clearly indicate the firms expertise related to government audit matters including a description of the firms experience in preparing governmental financial statements. In addition, provide a listing of Florida local government entities for which your firm is providing or has provided audit services.
(9) The proposal should set forth a work plan, including an explanation of the audit methodology to be followed, to perform the services required in Section II of this request for proposal.
(10) Indicate the firms approach to peer review and provide a report of the most recent peer review. Indicate whether that peer review included a review of local government client activities.
(11) Indicate any disciplinary actions that have been instituted or proposed against the firm during the last three years. In addition, describe the results of any State or Federal reviews during the past three years of the firms governmental client audit work.
IV. Evaluation Procedures
1. All responses will be reviewed by the Audit Committee.
2. The responses will be evaluated using two sets of criteria. Firms meeting the mandatory elements will have their proposals evaluated and scored on technical qualifications. The order of the mandatory elements and technical qualifications, respectively, do not indicate an order of importance.
The following represent the principal criteria which will be considered during the evaluations by the Audit Committee and the NFTCA.
Mandatory Elements:
a. The audit firm is independent and licensed to practice in Florida
b. The firm has no conflict of interest with the NFTCA with regard to any other work performed by the firm
c. The firm adheres to the instructions in this request for proposal on preparing and submitting the proposal
d. The firm submits a copy of its last external quality control review report and the firm has a record of quality audit work
e. Ability to provide timely audit.
f. Willingness to be compensated on the basis of time expended by employees and expenses incurred
Technical Qualifications:
a. General Government audit experience
b. Qualifications of individuals assigned to audit
c. Size and organization structure of firm
d. Demonstrated understanding of NFTCAs requirements including expedited service for Audit services required for the fiscal years ending September 30, 2006, 2007, and 2008
e. Audit approach
f. Reasonableness of rates of compensation per hour for each employee type along with the estimate of the percentage of the services to be conducted by each employee type
g. Reasonableness of list of all expense types that will be charged to the NFTCA and the charge for each
V. Note to All Prospective Proposers
QUESTIONS OR INQUIRIES REGARDING THE MEANING OR INTERPRETATION OF ANY OF THE PROVISIONS OF THIS RFP MUST BE DIRECTED TO RAY REISSENER. CONTACT WITH OTHER NFTCA REPRESENTATIVES FOR PURPOSES OF INQUIRIES REGARDING MEANING OR INTERPRETATION SHALL BE GROUNDS FOR ELIMINATION. THE NFTCA SHALL NOT BE RESPONSIBLE FOR ANY REPRESENTATIONS MADE BY ANYONE OTHER THAN RAY REISSENER.
