Responses to RFP bidder’s questions:

  • Have there been any significant changes in your operations, programs or personnel recently or contemplated for the future that would impact the scope of services as compared to prior contracts for the same work? (Ex: changes in the audit process or those involved with the process, current year budget vs. prior year budget?)Recent RAD conversion of 9 GHA properties in November 2017 to tax credit properties. GHA is asking HUD for a change in the fiscal year-end from June 30 to Dec 31 which, if approved, would become effective in 2019. Some personnel changes in the Accounting Department.
  • What are the most challenging aspects of the audit process for GHA and specifically the accounting and finance team?The RAD conversion of public housing properties to tax credit properties.
  • Are any of the accounting functions outsourced to another accounting firm? If so, which functions?As stated in the RFP, the tax credit properties which were converted in November 2017 will be audited by another audit firm specializing in tax credits.
  • Is there any specific expertise and advice the organization looking for that it may not be receiving from its current provider?No
  • What is management’s and the board’s view on the desirability of transitioning to new auditors? GHA bid’s audit services when the current contract expires, typically ever 4-5 years.
  • How long has GHA been with the current provider?5 years
  • Is the current provider bidding on the engagement?They were sent the RFP but it is unknown at this time if they will bid
  • In an effort to understand the level of effort currently exerted by the incumbent auditing firm, please provide:
  • Prior year audit fees$43,800
  • Schedule of auditors in the field (ex: 2 people for 2 weeks in November)4 auditors for 1 week; 3 auditors for 1 week; 2 auditors for 3 days
  • What is the status of the RAD conversion (all projects complete, some settled and some in process, none yet settled, etc.)All are complete at this time
  • Based on the existing and/or proposed structure of the RAD projects, what is the impact on the audit of GHA (component units created, additional investments in related entities, etc.)? The November 2017 RAD conversion of 9 communities to tax credit properties. These 9 properties will be included (thru November 2017) in the first audit but after that these tax credit properties will not be part of this audit proposal as they will be audited by another firm specializing in tax credits.
  • Have you received any GFOA comments on GHA’s CAFR and if so, what were they and have they been addressed?No comments on the CAFR have been received at this time
  • Is it possible to get a copy of the 6-30-17 audit?A copy of GHA’s CAFR for FY 2017 has been posted on the GHA website. At the home page, click on “Vendors” and then click on “Request for Proposal”
  • Do you have a list of all the component units?Component units include: Abby Courts, Gateway Plaza, Hall Towers, Hampton Homes, Hickory Trails, Woodland Village
  • In the RFP it doesn’t sound like any of these require separate audits under this RFP. Is that correct? Do any of the component units receive audits under separate contract? Gateway Plaza, Hall Towers, Hampton Homes, Hickory Trails received separate audits for a separate audit fee