Perea Elementary School (“School” or “PES”) is seeking proposals from qualified accounting firms to assist in the consolidated audit process that Perea Elementary School will be required to complete for fiscal year 2018 (June 30th year end) as well as all transitions during our planning stages during fiscal year 2017.
Firms are invited to submit completed applications via email to the Chairman of the Board, Mike Sturdivant, and Executive Director, Alicia Norman. Proposals should be submitted in pdf format no later than February 28th to
The Request for Proposal (“RFP”) does not commit to award a contract or payment of any cost incurred in the preparation of proposals in response to this request. Perea Elementary School reserves the right to accept all or part of any proposal or to cancel this RFP in part or its entirety. The School further reserves the right to accept the proposal deemed in the best interest of the School.
All requirements must be addressed in your proposal. Non-responsive proposals will not be considered. All proposals, whether rejected or selected, shall become the property of the School.
Requests for Information:
Questions related to this RFP should be submitted via email to Alicia Norman and Mike Sturdivant no later than 2/28/2019 at firstname.lastname@example.org and
Perea Elementary School is a public, tuition-free elementary school that opened in August 2018 with three (3) classes of Kindergarten. Our goal is to evolve into a fully staffed elementary school with grades K-5, increasing grades offered each year. For the 2018-2019 school year, our staff of 12 includes 6 administrators/support personnel, 6 teachers and 74 students. Perea Elementary School is committed to not only preparing students academically, but also socially and emotionally to equip our students with the skills to achieve success in academics and life.
- SCOPE OF WORK
The auditors will express an opinion on the fair presentation of its financial statement in conformity with accounting principles generally accepted in the Unites States of America.
The financial and compliance audit will involve all funds and accounts associated with Perea Elementary School. The auditor is required to analyze and apply audit procedures to the supplementary information in order to comply with reporting requirements as prescribed by the State of Tennessee and Shelby County Schools. An on-site audit of the School’s General Fund and other funds as required. If weakness is noted, appropriate recommendations should be reviewed with the Chairman of the Board and Executive Director. The auditors must provide unlimited consultation during the year as requested.
- AUDITING STANDARDS:
To meet the requirements of this request for proposals, the audit shall be performed in accordance with generally accepted auditing standards, the standards set forth for financial audits in the Government Auditing Standards, issued by the Comptroller General of the United States; Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments and Non-Profit Organizations; and the Audit Guidelines issued by the state of Tennessee.
The auditor shall submit to the Perea Elementary School all reports required by Shelby County Schools and the State of Tennessee in pdf format. Auditors are required to make an immediate, written report of all irregularities and illegal acts or indications of illegal acts of which they become aware to the Executive Director and Chairman of the Board
- WORKING PAPERS:
All working papers and reports must be retained at the auditor’s expense for a minimum of five (5) years, unless the firm is notified in writing by Perea Elementary School of the need to extend the retention period. The auditor will provided access to working papers upon request to the following parties or their designees:
- Perea Elementary School
- Shelby County Schools
- State of Tennessee
- Parties designated by the federal or state governments or by the School
District as part of an audit quality review process audit.
- In addition, the firm shall respond to reasonable inquiries of successor Auditors and allow successors auditors to review working papers relating to matters of continuing accounting significance.
- CONDUCT OF AUDIT WORK:
In additional to time requirements established by the State of Tennessee and Shelby County Schools, the following conditions shall apply:
- The School must receive prior to July 1st of each year a list of schedules and other documents required to complete their audit
- Pre-closing and interim tests and procedures shall be conducted in July
- The final audit will be scheduled between the selected audit firm and Executive Director during the month of September
- Adjusted trial balance figures are required by September 20th. Prior to completion of the audit, the Auditor will meet with the Executive Director to review and adjust journal entries, certify data for submission and review any adjustments and address any concerns impacting the timely completion of the School’s audit.
Report completion and an exit conference are required by November 20th of each year. Prior to submission of the completed report, the auditor is required to review the draft of the proposed report and management letter with the Executive Director and Chairman of the Board. The financial audit reports must be submitted to the School no later than November 10th of each year.
Checklist for proposal:
- Evidence of firm’s qualifications to provide services
- Description of Firm: This section should provide information regarding the size, location, nature of work performed, years in business and approach that will be utilized in meeting the needs of the School. Focus should center on auditing firm’s background and experience in auditing charter schools and/or non-profits.
- Organizational Structure of auditing firm:
- Firm name,
- Firm address,
- Contact Name, Email and Contact Number
- The letter shall state that the proposal shall be valid for a period and when the staff proposed is available to work on this project
- Signature of principal, partner or authorized personnel with contract negotiation authority
- Three (3) References of auditing clients in the charter school or non-profit arena
- Most Recent Peer Report
- Detailed information regarding your estimated total fees, fee schedule given serves required as outlined