Specifications include, but are not limited to: The selected firm should have proven experience with Public Housing Authorities. A. A financial statement and compliance audit of the Housing Authority for fiscal years ended March 31, 2024, performed in accordance with the Section “Audit Standard” above. 1. Basic Financial Statements a. Combined Statement of Net Assets for all major enterprise funds. b. Combined Statement of Revenue, Expenses and Changes in Net Assets for all major enterprise funds. c. Combined Statement of Cash Flow for all major enterprise funds. d. Combined Statement of Net Assets for non-major enterprise funds. e. Combined Statement of Revenues, Expenses and Changes in Net Assets for non-major enterprise funds. f. Combined Statement of Cash Flows for non-major enterprise funds. g. Footnotes accompanying the financial statements. 2. Supplemental Information Schedule of Net Assets –FDS Schedule of Revenues, Expense and Changes in Net Assets –FDS Schedule of Expenditures of Federal Awards Notes to Schedule of Expenditures of Federal Awards 3. Supplemental Information – Special Reports a. Schedule and Certification of Actual Grant Costs – Completed b. Schedule of Grant Costs – Uncompleted B. Perform compliance procedures and issue a report which encompasses applicable laws regulations and grant agreements for the following: 1. Housing Choice Voucher Program 2. Low Income Public Housing Program 3. Capital Fund 4. Housing & Economic Opportunities, Inc. (separate audit submitted to WHA no later than 60 days after March 31 fiscal year end) 5. Glover Plaza, Inc. (separate audit submitted to WHA and HUD no later than 60 days after March 31 fiscal year end) 6. Other applicable grants C. Report on Compliance and on Internal Control over Financial Reporting based on an Audit of Financial Statement Performed in Accordance with Government Auditing Standards. D. Report on Compliance with Requirements Applicable to Each Major Program, Internal Control over Compliance and on the Schedule of Expenditure of Federal Awards in accordance with Circular A-133. E. Reserve Account Reconciliation. F. Supplemental Reporting Requirements – Return on Investments. G. Independent Auditor’s Report on the Schedules of Actual Modernization Cost Certificate for grant(s) as necessary. H. Prepare Bureau of Census form SF-SAC, Data Collection form for Reporting on Audits of States, Local Governments, and Non-Profit Organizations. I. Attestation by auditor on Financial Data System (FDS) data as to its “fair presentation in relation to audited basic financial statements” in accordance with the audit provisions of the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standards (SAS) No.29, “Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents.” J. A separate attestation agreed-upon procedures engagement under AICPA Statement on Standards for Attestation Engagements (SSAE) No. 4, “Agreed-Upon Procedures engagements” where the auditor compares the electronically submitted data in the REAC staging database to the hard copy of the FDS. K. Provide (basic) financial statements as described in the Guidelines for Public Housing Authorities and Independent Auditors under the UFRS Rule (SAS 29), in the appropriate format for electronic submission to REAC. L. Assist in draft preparation of the Management Discussion and Analysis (MD&A) and audit the completed MD&A. M. Assist Finance staff in preparation of unaudited FDS for Authority wide and multifamily submissions. N. Perform audit test of the WHA preparation of the Section 8 Management and Assessment Program (SEMAP) Report and Public Housing Assessment System (PHAS) Report as necessary. O. Provide Independent Auditor’s Management Letter to the Chief Executive Officer concerning minor findings noted that were not material in nature during tests of internal control structure policies and procedures. P. Provide any other reports as requested by WHA and as required by HUD’s Uniform Financial Reporting Standards (UFRS) for Public Housing Authorities. Q. The Authority understands that generally accepted auditing standards require that the Auditor obtain a representation letter prior to completion and submission of the Audit Report. This representation letter requires that the Chief Executive Officer and Director of Finance provide the Auditor with assurance based on knowledge and belief as to matters concerning the accounting records, operations and matters contained within the financial statements. Delay in providing this assurance will extend the date of completion of the audit. R. Provide the Authority with an electronic copy of the final audit work papers. S. Preparation of IRS 990’s for HEO and Glover Plaza by November 15, 2024.
