07102026 Audit RFP Questions and Answers.pdf
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- Attached to
- Audit Services
- Solicitation number
- S-C20414-00017396
- Issued by
- Oregon
About this file
This is a Questions and Answers document for the FY27-004 Audit Services RFP issued by Lane Council of Governments (LCOG), a voluntary association of 35 local governments in Lane County, Oregon. LCOG is soliciting proposals for annual financial statement audit services including comprehensive financial statement audits in accordance with GAAP, preparation of an Annual Comprehensive Financial Report, Single Audit requirements, State Transportation Improvement Fund (STIF) Agreed Upon Procedures, management letters with recommendations, and technical assistance throughout the fiscal year. Proposals are due July 22, 2026 at 2:00 PM, with questions due by July 15, 2026. Fieldwork and draft reports must be completed by November 1 of each year, with audited financial statements due to the Secretary of State and Federal Clearinghouse by December 15. The contract covers three fiscal years beginning FY2026-27, with an option for renewal for two additional years. Interviews are scheduled for August 14, 2026 if necessary, with an Intent to Award on August 17 and contract signature by September 30, 2026.
Historical audit fees ranged from $29,500 in FY20 to $66,035 in FY25, with the most recent complete year (FY25) costing $66,035. LCOG's current auditor has performed the audit for ten years and is invited to propose; however, Board policy requires an RFP for auditing services every five years, which triggered this procurement. The organization expects two Single Audits annually and anticipates the same level of federal funding in upcoming years. LCOG typically closes its books on July 31 with trial balance available shortly thereafter. The organization maintains four fund types with an estimated FY2026-27 annual budget of $85 million. Subsequent year fees are limited to increases in the annual All Urban Consumers US Cities Average Consumer Price Index. Proposers must employ Oregon-licensed CPAs authorized to perform municipal audits, possess at least five years of governmental financial statement audit experience with substantial Oregon local government experience, hold a Pass rating on the most recent external peer review, maintain Professional Liability Insurance with limits of not less than $2,000,000 per claim, and be in good standing with the Oregon State Board of Accountancy.
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Other files
| File | Type | Posted |
|---|---|---|
| FY27-004 Audit Services RFP Final.pdf |
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Text version
FY27-004 Audit Services RFP
Questions and Answers as of 07/10/2026
1. Where can we find the 2025 financial statements?
a. Posted on our website, here: https://www.lcog-or.gov/about/page/financial-documents-fiscal-year-2025
2. Is there a change in scope between this year and last year?
a. No.
3. To help us better understand the scope and accurately estimate the hours required to complete the audit, could you provide the prior audit fees or the number of hours it took to complete the audit in previous years?
a. Our current auditors do not provide hours for their billings, we have paid a flat amount. If more work is necessary, we enter into an agreement. Fees paid for FY25 and prior year audits:
i. FY20 - $29,500
ii. FY21 - $34,800
iii. FY23 - $42,000
iv. FY23 - $37,960
v. FY24 - $39,087
vi. FY25 - $66,035
4. Were there any adjustments or findings noted beyond those reported?
a. No, but see FY2025 ACFR.
5. How long has your current auditor been performing the audit, and are they invited to propose on this engagement? They have been our auditor for ten years; the Board requires we go out for an RFP for auditing services every five years.
a. Yes, they have been invited to propose.
6. Did you receive assistance from the auditors in providing calculations such as leases, SBITAs, pensions, etc.?
a. Sometimes, if there are new GASB requirements.
7. Were the auditors on site or remote during the performance of the audit and do you prefer to have an audit to be performed remotely, in a hybrid format or fully on site during the interim and final phase of the audit?
a. Hybrid, but we are comfortable with any arrangement.
8. How many Single Audits typically performed on an annual basis and are you expecting significant federal funding in the upcoming years?
a. Two (Single Audit Act audit and State Transportation Improvement Fund
Agreed Upon Procedures), and we expect our federal funding to be the same.
https://www.lcog-or.gov/about/page/financial-documents-fiscal-year-2025 https://www.lcog-or.gov/about/page/financial-documents-fiscal-year-2025
9. When do you typically close the books and how early will the trial balance be available?
a. July 31 and we hope to have a trial balance shortly thereafter.
10. What prompted LCOG to issue an RFP at this time?
a. The Board requires we go out for an RFP for auditing services every five years.
11. Does LCOG anticipate requiring a Single Audit for FY2026-27? As you may know, the federal expenditure threshold has increased to $1 million.
a. Yes.
12. What were the audit fees for FY2024-25 and FY2025-26?
a. We do not have the fees for FY2025 -26 yet. See Question 3 for details.
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