Specifications include, but are not limited to: • Auditing the financial statements of CIHA (and its non-LIHTC subsidiaries: Cook Inlet Lending Center (CILC) and Cook Inlet Housing Development Corporation (CIHDC) and issuing an opinion on those financial statements in accordance with Generally Accepted Auditing Standards. Each entity listed above will receive stand-alone financial audits, and CIHA will have a combined audit encompassing all entities. The 2022 Financial Report and audited financial statements for CIHA, CIHDC & CILC are provided for review (Attachment “A” – “C”); • Performing an audit of Federal programs in accordance with the single audit requirements 2 CFR Part 200 (Uniform Guidance); • Performing an audit of State programs in accordance with the provisions of State of Alaska 2 AAC 45 regulations, as appropriate to the particular entity; • Audit services will be conducted in accordance with Generally Accepted Auditing Standards (GAAS) and when required, those standards must conform to standards promulgated in the U.S. Government Accountability Office’s Government Auditing Standards. Perform auditing procedures, as necessary, of CIHA’s component units, for inclusion and presentation in the CIHA financial statements in accordance with GASB 39, Determining Whether Certain Organizations are Component Units, and GASB 14, The Financial Reporting Entity (CIHA has additional partnerships where the investor requires audited financial statements by February 15 and tax returns issued by March 15. Audit Services for these companies are not part of this request for proposal). The combined financial statements will encompass CIHA, two (2) nonprofit corporations, three (3) for-profit corporations and approximately seventeen (17) LIHTC partnerships; • Financial audit services will cover the calendar year ending December 31, 2023, 2024 with options to extend contract for three (3) additional years, for a total of five (5) years. CIHA will be responsible for preparing the financial statements, footnotes, statement of cash flow, required supplemental information and the Management Discussion & Analysis in accordance with GASB34, Basic Financial Statements and Management’s Discussion & Analysis for State and Local Governments. It is expected the successful responder will provide technical assistance with regard to presentation and required notes as well as minor editing and formatting of the above documents at no additional charge; • Audited financial statements will be issued no later than May 1st of each year. Audit fieldwork is expected to begin as late as possible to meet the deadline. Recently, fieldwork has begun approximately March 1st; • Provide nonattest services and technical assistance as requested by the CIHA Controller, Budget and Financial Reporting Manager, or Chief Financial Officer with regard to financial statement preparation, new business start-up, tax consulting with regard to various lines of business and periodic accounting inquiries deemed appropriate by CIHA staff. • Provide periodic dissemination of GAAP updates to client to facilitate CIHA staff to remain apprised of required GASB statements and pertinent FASB requirements. • Provide audit services and tax preparation services for subsidiaries and affiliates’ stand-alone financial statements within timelines required by various investors and by the Internal Revenue Service. As of June 2023, CIHA has two non-profits (Cook Inlet Lending Center and Cook Inlet Housing Development Corporation) that require stand- alone financial statements and tax returns. CIHA also has one (1) for-profit (Cook Inlet Real Estate Services, Inc.) subsidiary requiring a tax return. These subsidiaries included in the consolidated financial statements of CIHA. The nonprofits may be subject to state and federal single audit requirements, so pricing should include both a base price for the financial statement audit and additional price structure for state and federal single audits, if applicable.
