Question and Answers

Question and Answers

REQUEST FOR PROPOSALS (“RFP”)

From Certified Public Accountants for Audit Services for

the District of Columbia Housing Finance Agency

The District of Columbia Housing Finance Agency (the "Agency" or “DCHFA”) requests proposals from Certified Public Accountant Firms (“Offerors”) for Audit Services for the Agency. The information and instructions set forth below are designed to solicit responses that will demonstrate your firm’s capability, approach, and commitment to satisfying the Agency’s requirements. Each company is requested to submit its most competitive offer.

The deadline for submission of proposals is August 11, 2017 at 4:00 p.m. ET. Proposals must be received at DCHFA, 815 Florida Avenue, NW, Washington, DC 20001 on or before the deadline.

QUESTIONS ABOUT THIS RFP

Companies may submit questions related to this RFP in writing or by e-mail no later than noon (ET) on July 24, 2017. All questions shall be sent to Keami Estep at kestep@dchfa.org. No oral questions, proposals or oral modifications of proposals will be considered. All answers to any posed questions, as well as this RFP document, will be available on the Agency’s website: www.dchfa.org.

QUESTIONS AND ANSWERS:

  1. On page 10, under “Additional Services,” DCHFA states “Additional billings for such services will be based upon an agreed level of professional effort at the hourly rates set forth in Exhibit A.” Could DCHFA clarify which hourly rates from Exhibit A would be used for the additional services?

    Once any necessary additional services and corresponding level of effort are identified, the task would need to be classified (partner, manager, supervisor, junior, etc.) and priced according to the rates included within your responses to this RFP.

  2. On page 6, under “Section IV. Scope of Services,” DCHFA instructs vendors to include pricing for “two (2) option years,” but on page 14, under “Section XI. Term,” only mentions “the possibility of a one (1) year optional renewal.” Could DCHFA clarify whether it wants pricing for one or two optional years? Also, how should we provide the pricing for the optional year(s)? May we repurpose the charts in Exhibit A?

    One option year. Please repurpose the chart in Exhibit A. References to two (2) option years have been revised in the RFP on the website.

  3. In Exhibit A, incorrect fiscal years are listed at the bottom of each of the first four charts. May we change this wording to fit the years covered in the RFP?

    The Fiscal Years in Exhibit A have been corrected. Please revisit the RFP on the website.

  4. At the bottom of the “Consent Letters” chart on page 19, DCHFA notes that the listed total price is “for each CONSENT LETTER prepared,” yet on page 20, it simply shows the total price. When submitting our proposal, may we include a comment at the bottom of the “Summary Price Proposal,” noting that the listed price is the not to exceed price for each consent letter, instead of the total price for all requested consent letters?

    Yes, you may include a comment to support or provide further explanation to accompany your pricing.

  5. What were the prior year audit fees?

    It is DCHFA policy to refrain from disclosing prior hours and/or costs for services. Please submit your cost proposal in accordance with your firm’s schedule of fees supported by projected hours (level of effort) for each member of your audit team.

  6. What is the level of effort/hours that the incumbent has provided for the previous years’ audits?

    It is DCHFA policy to refrain from disclosing prior hours and/or costs for services. Please submit your cost proposal in accordance with your firm’s schedule of fees supported by projected hours (level of effort) for each member of your audit team.

  7. Is the incumbent allowed to bid?

    Yes.

  8. Are there any improvements you would like to see in the audit process?

    In general, we would like to see a professional, thorough and expeditious process in accordance with GAAS and the guidelines outlined in the RFP, specifically the deadline set forth,allowing for a timely delivery to our Board of Directors, investors and stakeholders. Additionally, we prefer the auditor utilize processes that will allow for our staff to transmit records electronically.

  9. Are there any significant changes in operations in the current year vs. the prior year including changes in policies and procedures, personnel, or the reporting entity?

    In FY16 the Agency named a new Executive Director. In early FY17, DCHFA has encountered personnel changes in the finance & accounting group to include the creation of a treasury/cash management role and a senior accounting analyst role. We are currently undergoing a financial management system conversion as outlined in the RFP.

  10. Why is DCHFA requesting a proposal? (i.e. rotation cycle, fresh perspective desired, governing board request, cost)

    We are offering this RFP in accordance with our procurement policy.

  11. In an effort to understand the level of effort currently exerted by the current auditing firm, please provide (a) hours billed (b) prior year fees and (c) schedule of auditors in the field? For example, 2 people 2 weeks in November and 4 people 3 weeks in April. How did the fees charged compare to the fees quoted in the proposal?

    It is DCHFA policy to refrain from disclosing prior hours and/or costs for services. Please submit your cost proposal in accordance with your firm’s schedule of fees supported by projected hours (level of effort) for each member of your audit team.

  12. How many years have the current auditors being serving DCHFA? How many years have the current engagement partner/principal served DCHFA?

    Approximately five years.

  13. Are you satisfied with the current auditors (a) timeliness (b) pro-activeness on communications (c) involvement outside of the audit process and (d) value they provide to your organization?

    We have no concerns with the current auditor in any of the above-mentioned areas.

  14. Has there been any disagreement with the current auditor firm? If yes, please provide some background on the issue.

    No, there have been no disagreements with the current auditor.

  15. Has DCHFA investigated a fraud in the last two years?

    No, the agency has not investigated a fraud in the last two years.

  16. What are the two most significant issues facing DCHFA in the next two years?

    No significant issues have been identified. In light of changes in senior management in 2016, the agency is undergoing various endeavors to enhance the thoroughness and integrity of its policies and procedures as well as products and services offered in order to meet the vision of the Board and management in servicing our clients and stakeholders.