The Community Action Commission, doing business as Tri County Community Action, is seeking proposals for audit services. Click the READ MORE link below for the full RFP and submission instructions.
Below is a list of questions received, and their responses. Please check back often, as we will update this list as additional inquiries come in.
- Why have you sent out an RFP? Are you unhappy with [your prior auditor]? Price? Our fiscal policies require that we bid audit services every three years.
- Will your prior auditors be asked to submit a proposal? Yes
- I was able to download June 30, 2017 financial statements from the IDES website but I could not locate June 30, 2018 financial statements for Tri County Community Action. Are 6/30/2018 statements available for our review? Our most recent audit and 990 are located on our website, under the “About Us” tab.
- Could we get a copy of the June 30, 2018 audit entries made? There were none.
- Would it be possible to get a trial balance through December 31, 2018 (half year) so we could see the current account structure of Tri County Community Action? Our account structure has not significantly changed from the time of our most recent audit and 990.
- Based on the timeline provided in the RFP, audit fieldwork should be completed by 8/31/2018. When will Tri County be ready to start the audit? Historically, compliance testing, client testing, payroll testing, contracts, Board minutes and fiscal policy review has been completed in mid/late July. Field work for accounting has been scheduled in mid-August.
- Could you please provide a brief description of the accounting/finance department of Tri County? Please include number of employees, years with Tri County, etc. Our Controller services are currently provided by Bussard Nonprofit Accounting Services. We have two internal staff. Payroll processing is also outsourced. We have had this structure for approximately 5 years.
- How many auditors were onsite and for how long, in the prior year? We ask that your provide the onsite staff you feel is necessary for the field work.
- What information will you provide related to the audit? For example, will you provide balance sheet account reconciliations, fixed asset listing/records, functional expense breakdowns, etc.? Yes.
- Are the accruals and deferrals prepared in-house or by your auditors? Our in-house fiscal staff prepares them.
- Who maintains the depreciation schedule? Our in-house fiscal staff.
- What accounting software do you utilize? Quickbooks
- Have you taken any steps or worked with [your prior auditor] to prepare for the changes in financial statement reporting as it relates to NFP reporting, revenue recognition and lease recognition? Yes.
- In regard to the single audit, has there been or do you expect any significant changes in the types of federal awards Tri County has historically received? Potentially as we implement new initiatives and programs.
- Single Audit:
- Do you anticipate any new/additional federal awards in the next three years? Potentially
- Do you anticipate that your current funding from CSBG will continue at similar levels to your current funding? Yes
- There is over 60k in accounting fees listed on the 990. Approximately how much of that is audit and how much would be accounting? Line 11c, Part IX of the 2018 990 includes accounting fees and audit fees. Annual accounting fees are based on the agency’s needs and requirements, and are currently provided by Bussard Nonprofit Accounting Services.