12-B. Financial Auditing Services - RFP 269-2026-162.pdf

REQUEST FOR PROPOSALS

F INANCIAL AUDIT ING SERVICES

RFP # 269- 2026 - 162

CITY OF CHARLOT T E

NORTH CAROLINA

NOVEMBER 25, 2025

REQUEST FOR PROPOSALS

RFP # 269-2026-162

Financial Auditing Services

November 25, 2025

Interested Company:

The City of Charlotte, North Carolina, is now accepting Proposals for Financial Auditing Services. The requirements for submitting a Proposal are stated in the attached Request for Proposals (the “RFP”). Please review them carefully.

The City of Charlotte is using the Bonfire e-Procurement Portal (“Procurement Portal” -https://charlottenc.bonfirehub.com) to accept and evaluate proposals for this RFP. Proposals must be submitted electronically through the Procurement Portal on or before the Due Date in order to be accepted.

REMOTE MEETING: A Non-Mandatory Virtual Pre-Proposal Conference for the purpose of reviewing the RFP and answering questions regarding the Services will be held on December 10, 2025 at 10:00 a.m. EST. No onsite meeting will be held and Service Provider(s) should not come to the City expecting to attend in person. While attendance at the Pre-Proposal Conference is not mandatory, all interested Service Provider(s) are encouraged to participate.

Click here to join – Microsoft Teams Video Conference

To join via phone only - 872-256-4172 Conference ID: 912 734 62#

Please have a copy of the RFP available for reviewing during the Pre-Proposal Conference.

Proposal submissions are due no later than December 30, 2025 at 10:00 a.m. EST.

The City is an equal opportunity purchaser.

Sincerely, Mary Yang Procurement Officer https://charlottenc.bonfirehub.com/ https://teams.microsoft.com/l/meetup-join/19%3ameeting_YmJlY2E2Y2QtYWI1Yi00MjA1LWJjMzEtZmRjNGNlNzI3NjJk%40thread.v2/0?context=%7b%22Tid%22%3a%223392a0ee-6ccb-49c5-94b5-f5e6d8a665d6%22%2c%22Oid%22%3a%22096b4576-0d5f-4f37-b996-86b64e98dadf%22%7d

Checklist for submitting a Proposal:

Step 1 Read the document fully.

Step 2 Review the solicitation timeline and upcoming events in the Procurement Portal and download copies of any documents if you plan to submit a Proposal.

Step 3 (Optional) Submit any questions via the Procurement Portal by the deadline(s) noted for the solicitation.

Step 4 Conduct a thorough review of the Sample Contract. Any exceptions to the Sample Contract must be uploaded in word format (with redlines/tracked changes)

Step 5 Monitor the Procurement Portal for any addendums and/or responses to questions.

If you plan to submit a Proposal, you must submit all required documents and respond to all questions within the Procurement Portal for the RFP.

If awarded a contract, your company will be required to provide an insurance certificate(s) that meets or exceeds the requirements set forth in the Sample Contract.

Table of Contents

Financial Auditing Services RFP #: 269-2026-162 4 of 40

TABLE OF CONTENTS

1. INTRODUCTION

1.1. OBJECTIVE

1.2. DEFINITIONS

1.3. ACCURACY OF RFP AND RELATED DOCUMENTS

1.4. CITY’S RIGHTS AND OPTIONS

1.5. EXPENSE OF SUBMITTAL PREPARATION

1.6. PROPOSAL CONDITIONS

2. PROCUREMENT PROCESS

2.1. SCHEDULE AND PROCESS

2.2. INTERPRETATIONS AND ADDENDA

2.3. PRE-PROPOSAL CONFERENCE

2.4. SUBMISSION OF PROPOSALS

2.5. CORRECTION OF ERRORS

2.6. EVALUATION

2.7. CONTRACT AWARD BY COUNCIL

2.8. VENDOR INCLUSION

3. SCOPE OF SERVICES

3.1. GENERAL SCOPE

3.2. BACKGROUND

3.3. SERVICES

3.4. RESPONSIBILITIES

3.5. COMPLIANCE, LEGAL, AND OTHER REQUIREMENTS

3.6. REPORTING REQUIREMENTS

3.7. RECORDS RETENTION

3.8. INSURANCE

3.9. CONTRACT TERM

4. PROPOSAL CONTENT AND FORMAT

4.1. PROPOSAL CONTENT

5. PROPOSAL EVALUATION CRITERIA

5.1. QUALIFICATIONS AND EXPERIENCE

5.2. PROPOSED SOLUTION AND APPROACH

5.3. COST EFFECTIVENESS AND VALUE

5.4. MWSBE INCLUSION EFFORTS

5.5. ACCEPTANCE OF THE TERMS OF THE CONTRACT

ATTACHMENT A

SPECIAL AUDIT REQUIREMENTS

ATTACHMENT B

SPECIAL AUDIT REQUIREMENTS, CHARLOTTE FIREFIGHTERS’ RETIREMENT SYSTEM

ATTACHMENT C

20 NCAC 03 .0502

ATTACHMENT D

LGC-205

Section 1 Introduction and General Information

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1. INTRODUCTION.

1.1. Objective.

The objective of this RFP is to solicit Proposals that will enable the City to determine which Company and Proposed Solution will best meet the City’s needs for the Services detailed in the Scope of Work.

The City is seeking a qualified public accounting firm to provide Financial Auditing Services for the City’s accounting records, financial reports and internal accounting controls in accordance with U.S. Generally Accepted Auditing Standards and Government Auditing Standards.

1.2. Definitions.

As used in this RFP, the following terms shall have the meanings set forth below:

Acceptance: Refers to receipt and approval by the City of a Deliverable or Service in accordance with the acceptance process and criteria in the Contract.

Affiliates: Refers to all departments or units of the City and all other governmental units, boards, committees or municipalities for which the City processes data or performs services.

AUP: Refers to Agreed-Upon-Procedures, a type of engagement where an independent auditor performs specific, agreed-upon tasks on a subject matter and reports the factual findings

Biodegradable: Refers to the ability of an item to be decomposed by bacteria or other living organisms.

Charlotte Business INClusion/CBI: Refers to the Charlotte Business INClusion office of the City of Charlotte.

Charlotte Business INClusion Policy/ CBI Policy: Refers to the policy adopted by City Council, which seeks to enhance competition in contracting and procurement opportunities for MWSBEs located in the Charlotte Combined Statistical Area.

Charlotte Combined Statistical Area: Refers to the area consisting of the North Carolina counties of Anson, Cabarrus, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly, and Union, and the South Carolina counties of Chester, Lancaster, and York;

a criterion used by Charlotte Business INClusion to determine eligibility to participate in the program.

City: Refers to the City of Charlotte, North Carolina.

City Project Manager: Refers to a specified City employee representing the City’s best interests in this Project.

Company: During the solicitation process, refers to a company that has interest in providing the Services. After the solicitation process, refers to a company that has been selected by the City to provide the Services.

Company Project Manager: Refers to a specified Company employee representing the best interests of the Company for this Project.

Contract: Refers to a written agreement executed by the City and the Company for all or part of the Services.

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Deliverables: Refers to all tasks, reports, information, designs, plans, and other items that the Company is required to deliver to the City in connection with the Contract.

Department: Refers to a department within the City of Charlotte.

Documentation: Refers to all written, electronic, or recorded works that describe the use, functions, features, or purpose of the Deliverables or Services or any component thereof, and which are provided to the City by the Company or its subcontractors, including without limitation all end user manuals, training manuals, guides, program listings, data models, flow charts, and logic diagrams.

Evaluation Committee: Refers to a City-appointed committee that will evaluate Proposals and identify the Company(-ies) best meeting the needs of the City.

Milestones: Refers to an identified deadline for the completion of specific Services and/or the Acceptance of identified Deliverables, as specified in this RFP.

Minority-owned Business Enterprise/ MBE: Refers to a business enterprise that: (i) is certified by the State of North

Carolina as a Historically Underutilized Business (HUB) within the meaning of N.C. Gen. Stat. § 143-128.4; (ii) is at least fifty-one percent (51%) owned by one (1) or more persons who are members of one of the following groups: African American or Black, Hispanic, Asian, Native American or American Indian; and (iii) has significant business presence in the Charlotte Combined Statistical Area.

MWSBE: Refers to SBEs, MBEs, and WBEs, collectively.

MWSBE Goal: If an RFP or Contract has separate Subcontracting Goals for MBEs, WBEs, and/or SBEs, the term MWSBE is a shorthand way to refer collectively to all MBE, WBE, and SBE Goals set for the RFP. In some instances, the City may set one (1) combined goal for MBEs, WBEs, and/or SBEs, in which event the term MWSBE Goal refers to that one (1) combined goal. In the latter instance, calculated as a percentage, the MWSBE Goal represents the total dollars spent with MBEs, WBEs, and SBEs as a portion of the total Proposal amount, including any contingency.

Project: Refers to the City’s need for a company to provide Financial Auditing Services for the City.

Project Plan: Refers to the detailed plan for delivery of the Services as described in Section 3, in the form accepted in writing by the City in accordance with the terms of this RFP and resultant Contract.

Proposal: Refers to the proposal submitted by a Company for the Services as outlined in this RFP.

Services: Refers to the Financial Auditing Services as requested in this RFP.

Small Business Enterprise/SBE: Refers to a business enterprise that is certified by the City of Charlotte under

Part E of the CBI Policy as meeting all of the requirements for SBE certification.

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Specifications and Requirements: Refers to all definitions, descriptions, requirements, criteria, warranties, and performance standards relating to the Deliverables and Services that are set forth or referenced in: (i) this RFP, including any addenda; (ii) the Documentation; and (iii) any functional and/or technical specifications that are published or provided by the Company or its licensors or suppliers from time to time with respect to all or any part of the Deliverables or Services.

Subcontracting Goal: Refers to a SBE, MBE, WBE, and/or MWSBE Goal established by the City for an RFP and resulting Contract.

Trade Secrets: Information of the City or any of its suppliers, contractors or licensors that:

(i) derives value from being secret; and (ii) the owner has taken reasonable steps to keep confidential. See N.C. Gen. Stat. § 66-152 et seq. Examples of trade secrets include information relating to proprietary software, new technology, new products or services, flow charts or diagrams that show how things work, manuals that tell how things work and business processes and procedures.

Woman-owned Business Enterprise/ WBE: Refers to a business enterprise that: (i) is certified by the State of North

Carolina as a Historically Underutilized Business (HUB) within the meaning of N.C. Gen. Stat. § 143-128.4; (ii) is at least fifty-one percent (51%) owned by one or more persons who are female; and (iii) has significant business presence in the Charlotte Combined Statistical Area.

Work Product: Refers to the Deliverables and all other programs, algorithms, reports, information, designs, plans and other items developed by the Company in connection with this RFP, and all partial, intermediate or preliminary versions of any of the foregoing.

1.3. Accuracy of RFP and Related Documents.

Each Company must independently evaluate all information provided by the City. The City makes no representations or warranties regarding any information presented in this RFP, or otherwise made available during this procurement process, and assumes no responsibility for conclusions or interpretations derived from such information. In addition, the City will not be bound by or be responsible for any explanation or conclusions regarding this RFP or any related documents other than those provided by an addendum issued by the City. Companies may not rely on any oral statement by the City or its agents, advisors, or consultants.

If a Company identifies potential errors or omissions in this RFP or any other related documents, the Company should immediately notify the City of such potential discrepancy in writing. The City may issue a written addendum if the City determines clarification necessary. Each Company requesting an interpretation will be responsible for submitting them per Section 2.2.

1.4. City’s Rights and Options.

The City reserves the right, at the City’s sole discretion, to take any action affecting this RFP, this RFP process, or the Services or facilities subject to this RFP that would be in the best interests of the City, including:

1.4.1. To supplement, amend, substitute, or otherwise modify this RFP, including the schedule, at any time;

1.4.2. To cancel this RFP with or without the substitution of another RFP;

1.4.3. To require one or more Companies to supplement, clarify or provide additional information in order for the City to evaluate the Proposals submitted

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1.4.4. To investigate the qualifications, experience, capabilities, and financial standing of each Company submitting a Proposal;

1.4.5. To waive any defect or irregularity in any Proposal received;

1.4.6. To reject any or all Proposals;

1.4.7. To share the Proposals with City employees other than the Evaluation Committee or City advisory committees as deemed necessary;

1.4.8. To award all, none, or any part of the Services and enter into Contracts with one or more of the responding Companies deemed by the City to be in the best interest of the City, which may be done with or without re-solicitation;

1.4.9. To discuss and negotiate with any Company(-ies) their Proposal terms and conditions, including but not limited to financial terms;

1.4.10. To terminate discussions and negotiations with any Company at any time and for any reason;

1.4.11. To issue additional requests for information; and

1.4.12. To take any action affecting this RFP, this RFP process, or the Services or facilities subject to this RFP that would be in the best interest of the City.

1.5. Expense of Submittal Preparation.

The City accepts no liability, and Companies will have no actionable claims, for reimbursement of any costs or expenses incurred in participating in this solicitation process. This includes expenses and costs related to Proposal submission, submission of written questions, attendance at pre-proposal meetings or evaluation interviews, contract negotiations, or activities required for contract execution.

1.6. Proposal Conditions.

1.6.1. This RFP Not An Offer.

This RFP does not constitute an offer by the City. No binding contract, obligation to negotiate, or any other obligation shall be created on the part of the City unless the City and the Company execute a Contract. No recommendations or conclusions from this RFP process concerning the Company shall constitute a right (property or otherwise) under the Constitution of the United States or under the Constitution, case law, or statutory law of North Carolina.

1.6.2. Right to Terminate Discussions.

The Company’s participation in this process might result in the City selecting the Company to engage in further discussions. The commencement of such discussions, however, does not signify a commitment by the City to execute a Contract or to continue discussions. The City can terminate discussions at any time and for any reason.

1.6.3. Trade Secrets and Personal Identification Information.

Definition.

Upon receipt by the City, all materials submitted by a Company (including the Proposal) are considered public records except for (1) material that qualifies as “trade secret” information under N.C. Gen. Stat. § 66-152 et seq. (“Trade Secrets”) or (2) “personally identifiable information” protected by state or federal law, to include, but not be limited to, Social Security numbers, bank account numbers, and driver’s license numbers (“Personally Identifiable Information” or “PII”).

Instructions for Marking and Identifying Trade Secrets.

If any Proposal contains Trade Secrets or PII, such Trade Secrets and PII must specifically and clearly be identified by clearly separating them from the rest of the Proposal and

RFP #: 269-2026-162 9 of 40 marked either “Personally Identifiable Information – Confidential” or “Trade Secret— Confidential and Proprietary Information.” This confidentiality caption must appear on each page of the Trade Secret or PII materials, and the document(s) must be submitted separately in the Procurement Portal.

Availability of Proposals to City Staff and Contractors.

By submitting a Proposal, each Company agrees that the City may reveal any Trade Secret materials and PII contained therein to all City staff and City officials involved in the selection process, and to any outside consultant or other third parties who serve on the Evaluation Committee or who are hired or appointed by the City to assist in the evaluation process.

Availability of Proposals via Public Records Requests.

Any person or entity (including competitors) may request Proposals submitted in response to an RFP. Only those portions of RFPs properly designated as Trade Secret or PII are not subject to disclosure. The public disclosure of the contents of a Proposal or other materials submitted by a Company is governed by N.C. Gen. Stat. §§ 132 and 66-152, et seq.

When determining whether to mark materials as Trade Secret, please note the following:

• Entire Proposals may not be marked as Trade Secret

• Pricing may not be marked as Trade Secret

The City may disqualify any Company that designates its entire Proposal as a trade secret, or any portion thereof that clearly does not qualify under applicable law as a Trade Secret or PII. Each Company agrees to indemnify, defend, and hold harmless the City and each of its officers, employees, and agents from all costs, damages, and expenses incurred in connection with refusing to disclose any material that the Company has designated as a Trade Secret or PII. This includes an obligation on the part of the Company to defend any litigation brought by a party that has requested Proposals or other information that the Company has marked Trade Secret or PII.

1.6.4. Statutory Requirements.

Any Contract awarded as a result of this RFP shall be in full conformance with all statutory requirements of North Carolina and all statutory requirements of the Federal Government, to the extent applicable.

1.6.5. Reservation of Right to Change Schedule.

The City shall ultimately determine the timing and sequence of events resulting from this RFP. The City reserves the right to delay the closing date and time for any phase if City staff believe that an extension will be in the best interest of the City.

1.6.6. Reservation of Right to Amend RFP.

The City reserves the right to amend this RFP at any time during the process, if it believes that doing so is in the best interests of the City. Any addenda will be posted to the Procurement Portal. Companies are required to acknowledge receipt of each addendum.

1.6.7. No Collusion or Conflict of Interest.

By responding to this RFP, the Company shall be deemed to have represented and warranted that the Proposal is not made in connection with any competing Company submitting a separate response to this RFP and is in all respects fair and without collusion or fraud.

1.6.8. Proposal Terms Firm and Irreversible.

The signed Proposal shall be considered a firm offer on the part of the Company. The City reserves the right to negotiate price and other terms. All Proposal elements (including all statements, claims, declarations, prices, and specifications) shall be considered firm and irrevocable for purposes of future Contract negotiations unless specifically waived in writing by the City. The Company chosen for award should be prepared to have its Proposal and

RFP #: 269-2026-162 10 of 40 any relevant correspondence incorporated into the Contract, either in part or in its entirety, at the City's election. Any false or misleading statements found in the Proposal or Contract exceptions not included in the Proposal may be grounds for disqualification.

1.6.9. Charlotte Business INClusion Program.

Pursuant to Charlotte City Council’s adoption of the Charlotte Business INClusion (CBI) Policy, the CBI program seeks to enhance competition and participation of Minority-owned, Women-owned, and Small Business Enterprises (MWSBEs) in City contracting. To accomplish this, the City has examined its procurements and set specific MWSBE participation goals on a contract-by-contract basis. In addition, CBI makes a concerted effort to expand its certified MWSBE vendor pool and assist city-certified firms in growing, enhancing, and developing their businesses. CBI currently offers numerous development programs that support certified businesses in organizational training, strategic development, and networking opportunities.

The CBI Policy and CBI Manual are posted online here: www.charlottebusinessinclusion.com

To determine whether disparities exist in City contracting based on race, gender or other factors, and also to measure the effectiveness of the City’s Charlotte Business INClusion (“CBI”) Program, the City tracks the utilization of subconsultants and suppliers on certain City contracts based on race, gender, small business status, and other factors. For analysis purposes, it is important that the City obtain this data not only for minority-owned, women-owned, and small business suppliers and subconsultants, but also for other subconsultants and suppliers. As a condition for receiving payments under this Contract, the Proposer agrees to submit any payment record into InclusionCLT, or any subsequent system designated by the City, detailing the amounts paid by the Consultant to all subconsultants and suppliers receiving payment in connection with this Contract.

The City intends to negotiate an M/W/SBE goal with the selected Company. The City would like the Company to submit the firms it intends to utilize to meet this goal. Therefore, the Company is required to submit Form 3 in the Bonfire Portal. Failure to submit this form with the Proposal shall render the Proposal non-responsive.

City certified MWSBE firms can be found in the City’s InclusionCLT system:

https://charlotte.diversitycompliance.com/

1.6.10. Subcontracting.

The Company given contract award shall be the prime contractor and shall be solely responsible for contractual performance. In the event of a subcontracting relationship, the Company shall remain the prime contractor and will assume all responsibility for the performance of the Services that are supplied by all subcontractors. The City retains the right to approve all subcontractors. Additionally, the City must be named as a third-party beneficiary in all subcontracts.

1.6.11. Equal Opportunity.

The City has an equal opportunity purchasing policy. The City seeks to ensure that all segments of the business community have access to supplying the goods and services needed by City programs. The City provides equal opportunity for all businesses and does not discriminate against any Companies regardless of race, color, religion, age, sex, and national origin or disability.

1.6.12. Title VI Solicitation Notice: The City, in accordance with the provisions of Title VI of the Civil Rights Act of 1964 (78 Stat. 252, 42 USC §§ 2000d to 2000d-4) and the Regulations, hereby notifies all bidders or offerors that it will affirmatively ensure that for any contract entered into pursuant to this advertisement, disadvantaged business enterprises or airport concession disadvantaged business enterprises will be afforded full and fair opportunity to https://charlotte.diversitycompliance.com/

RFP #: 269-2026-162 11 of 40 submit bids in response to this invitation and no businesses will be discriminated against on the grounds of race, color, national origin (including limited English proficiency), creed, sex (including sexual orientation and gender identity), age, or disability in consideration for an award.

1.6.13. Use of City’s Name.

No advertising, sales promotion, or other materials of the Company or its agents or representatives may identify or reference the City in any manner absent the prior written consent of the City.

1.6.14. Withdrawal for Modification of Proposals.

Companies may change or withdraw a previously-submitted Proposal at any time prior to the Proposal due date by editing or removing their submission on the Procurement Portal.

1.6.15. No Bribery.

In submitting a response to this RFP, each Company certifies that neither it, any of its affiliates or subcontractors, nor any employees of any of the foregoing has bribed, or attempted to bribe, an officer or employee of the City in connection with the Contract.

1.6.16. Exceptions to the RFP.

Other than exceptions that are stated in compliance with this Section, each Proposal shall be deemed to agree to comply with all terms, conditions, specifications, and requirements of this RFP including the Sample Contract language. An “exception” is defined as the Company’s inability or unwillingness to meet a term, condition, specification, or requirement in the manner specified in the RFP including in the Sample Contract. All exceptions taken must be identified and explained in writing in your Proposal and must specifically reference the relevant section(s) of this RFP. If the Company provides an alternate solution when taking an exception to a requirement, the benefits of this alternative solution and impact, if any, on any part of the remainder of the Company’s solution, must be described in detail.

Exceptions must be submitted under the Acknowledgement section in the Procurement Portal. If exceptions are not identified in your Proposal, they may not be considered during Contract negotiation and could result in Proposal being rejected from further consideration.

If legal counsel needs to review the Sample Contract prior to signature, reviews must be completed before your Proposal is submitted. The City reserves the right to refuse consideration of any terms not so included. Any proposed changes to the Sample Terms after tentative contract award may constitute a material change to the Company’s Proposal and be grounds for revoking the award.

The City intends to enter into a City-drafted Contract with the successful Company that contains the terms and conditions set forth in the Sample Services Contract. The number and extent of any exceptions and proposed additions to the Sample Terms will be one of the City’s evaluation criteria.

Notwithstanding the foregoing, the City reserves the right to modify the Sample Terms prior to or during contract negotiations if it is in the City’s best interest to do so.

1.6.17. Fair Trade Certifications.

By submitting a Proposal, the Company certifies that:

• The prices in its Proposal have been arrived at independently, without consultation, communication, or agreement with anyone, as to any matter relating to such prices for the purpose of restricting competition;

• Unless otherwise required by law, the prices quoted in its Proposal have not been knowingly disclosed by the Company and will not knowingly be so disclosed prior to the Proposal due date; and

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• No attempt has been made or will be made by the Company to induce any other person or firm to submit or not to submit a Proposal for the purpose of restricting competition.

1.6.18. Companies’ Obligation to Fully Inform Themselves.

Companies or their authorized representatives must fully inform themselves as to all conditions, requirements, and specifications of this RFP before submitting a Proposal.

Failure to do so will be at the Company’s own risk.

1.6.19. Disclaimer

Each Company must perform its own evaluation and due diligence verification of all information and data provided by the City. The City makes no representations or warranties regarding any information or data provided by the City.

Section 2 Procurement Process

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2. PROCUREMENT PROCESS.

This Section 2 contains information about the procurement process for this Project.

2.1. Schedule and Process.

The following chart shows the schedule of events for the conduct of this RFP. The key events and deadlines for this process are as follows, some of which are set forth in more detail in the Sections that follow:

DATE EVENT

November 25, 2025 Issuance of RFP. The City issues this RFP.

December 4, 2025

Submission of Written Questions Prior to Pre-Proposal Conference.

Companies are permitted to submit questions for purposes of clarifying this RFP. All submissions must be pursuant to the instructions in Section

2.2 by 10:00 a.m. EST.

December 10, 2025 Non-Mandatory Pre-Proposal Conference to be held via the link indicated in Section 2.3 at 10:00 a.m. EST.

December 12, 2025 Submission of Questions After the Pre-Proposal Conference. Questions are due by 10:00 a.m. EST.

December 30, 2025 Proposal Submission. Proposals are due by 10:00 a.m. EST via the Procurement Portal.

December 31, 2025 –

January 23, 2026

Evaluation. The Evaluation Committee will assess each Proposal and conduct evaluation activities with Companies.

February 9, 2026 –

February 13, 2026 Interviews. Interview shortlisted vendors.

March 2026 Contract Award by Council.

2.2. Interpretations and Addenda.

There are two (2) ways to ask questions about this RFP: (1) submit a question through the Vendor Discussion section on the Procurement Portal; or (2) ask a question at the Pre-Proposal Conference.

Other than these permitted methods, Companies should refrain from contacting City staff prior to the Proposal due date. The City is not bound by any statements, representations or clarifications regarding this RFP other than those provided in writing by the Procurement Officer.

In order for questions to be addressed at the Pre-Proposal Conference, they must be submitted by 10:00 a.m. EST on December 4, 2025.

After the Pre-Proposal Conference, questions must be submitted in the Procurement Portal by the deadline stated in Section 2.1.

When responding to Company questions or issuing addenda to the RFP, the City will post the answer or information to the Procurement Portal.

2.3. Pre-Proposal Conference.

A Non-Mandatory Pre-Proposal Conference will be conducted on December 10, 2025 at 10:00 a.m.

EST. Meeting information is provided below:

Click here to join – Microsoft Teams Video Conference

To join via phone only - 872-256-4172 Conference ID: 912 734 62#

While attendance at the Pre-Proposal Conference is not mandatory, all interested Companies are encouraged to attend. If special accommodations are required for attendance, please notify the City in advance through the Vendor Discussion section of the Procurement Portal.

https://teams.microsoft.com/l/meetup-join/19%3ameeting_YmJlY2E2Y2QtYWI1Yi00MjA1LWJjMzEtZmRjNGNlNzI3NjJk%40thread.v2/0?context=%7b%22Tid%22%3a%223392a0ee-6ccb-49c5-94b5-f5e6d8a665d6%22%2c%22Oid%22%3a%22096b4576-0d5f-4f37-b996-86b64e98dadf%22%7d

Section 2 Procurement Process

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2.4. Submission of Proposals.

Proposals must be submitted in the format specified in Section 4 of this RFP by December 30, 2025 on or before but no later than 10:00 a.m. EST.

When received, all Proposals and supporting materials, as well as correspondence relating to this RFP, shall become the property of the City. The Proposals will not be read aloud or made available to inspect or copy until any trade secret issues have been resolved.

2.5. Correction of Errors.

The person signing the Proposal must initial erasures or other corrections in the Proposal. The Company further agrees that in the event of any obvious errors, the City reserves the right to waive such errors in its sole discretion. The City, however, has no obligation under any circumstances to waive such errors.

2.6. Evaluation.

As part of the evaluation process, the Evaluation Committee may engage in discussions with one or more Companies. Discussions might be held with individual Companies to determine in greater detail the Company’s qualifications, to explore with the Company the scope and nature of the required contractual Services, to learn the Company’s proposed method of performance and the relative utility of alternative methods, and to facilitate arriving at a Contract that will be satisfactory to the City.

The City may in its discretion require one (1) or more Companies to make presentations to the Evaluation Committee or appear before the City and/or its representatives for an interview. During such interview, the Company may be required to orally and otherwise present its Proposal and to respond in detail to any questions posed. Additional meetings may be held to clarify issues or to address comments, as the City deems appropriate. Companies will be notified in advance of the time and format of such meetings.

Since the City may choose to award a Contract without engaging in discussions or negotiations, the Proposals submitted shall state the Company's best offer for performing the Services described in this

RFP.

2.7. Contract Award by Council.

As soon as practical after opening the Proposals, the name of the apparent successful Company will be submitted to the Council for final approval of award and the Procurement Officer will provide Contract documents to the Company. In the event the Council approval is not received within one hundred eighty (180) calendar days after opening of the Proposals, the Company may request that it be released from the Proposal.

2.8. Vendor Inclusion.

The City’s vendor management philosophy supports a fair, open, and inclusive process that offers the same access and information to all Companies. Although Companies are not required to be registered in the City’s vendor registration system prior to submitting a Proposal, in order to execute a contract with the City and receive payment from the City, all Companies must register with the City’s vendor registration system.

Your registration provides the City with baseline information for your company including location, contact and demographic information, as well as your areas of expertise with specific commodity and/or service descriptions. You will also have the opportunity to complete any applicable certifications if your company desires to establish itself as an SBE, MBE, or WBE. The link below will provide you with the opportunity to complete your registration on-line with the City.

http://charlottenc.gov/vendors http://char/

Section 3 Scope of Services

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3. SCOPE OF SERVICES.

3.1. General Scope.

The City is seeking a qualified public accounting firm to provide Financial Auditing Services for the City’s accounting records, financial reports and internal accounting controls in accordance with U.S. Generally Accepted Auditing Standards and Government Auditing Standards.

While the City is flexible with respect to certain elements of Financial Auditing Services, the City has specific requirements and preferences for the Service delivery method.

3.2. Background.

3.2.1. Annual Independent Audit.

North Carolina General Statute 159-34 requires the City's financial statements to be audited by a firm of licensed Certified Public Accountants (“CPA” or “CPAs”).

3.2.2. City of Charlotte Annual Comprehensive Financial Report.

The Annual Comprehensive Financial Report (“ACFR”), previously the Comprehensive Annual Financial Report, is the official annual report of the City to give detailed information about the financial position of the City to residents, City Council, staff, and other readers.

The ACFR is a consolidated City financial report that includes basic and combined individual fund statements, schedules, and related information, and contains three (3) distinct sections: Introductory, Financial, and Statistical.

i. Introductory Section: Contains general information on the structure, services and environment of the City.

ii. Financial Section: Includes the basic financial statements that are the core of financial reporting. These include governmentwide financial statements, fund financial statements, and notes to the financial statements. The Financial Section also includes information on individual funds.

iii. Statistical Section: Provides trend data and non-financial data useful in interpreting the basic financial statements and is important for evaluating economic condition.

State law requires that all general-purpose local governments annually publish a complete set of financial statements. The City's financial statements, as required by North Carolina General Statute 159-34, are to be audited by a firm of licensed certified public accountants.

The combined and individual fund statements and schedules, and related information, will be presented in the ACFR as additional analytical data.

The City’s Single Audit is also included in the ACFR.

Refer to City of Charlotte Annual Comprehensive Financial Report publications:

https://www.charlottenc.gov/City-Government/Departments/Finance/Publications

3.2.3. Audits.

The purpose of the audit (the “Audit”) is to serve as the independent audit of the City's financial statements and provide reasonable assurance that the financial statements are free of material misstatement. The independent Auditor determines whether there is sufficient audit evidence for rendering an unmodified opinion that the financial statements for the fiscal year that ended June 30th are fairly presented in accordance with U.S.

Generally Accepted Auditing Standards (“GAAP”).

The Audit is also part of a broader federal and state mandated "Single Audit" designed to meet the special needs of federal and state grantor agencies. The standards governing Single Audit engagements require the Independent Auditor to report not only on the fair presentation of the financial statements but also on the government's internal controls and https://www.charlottenc.gov/City-Government/Departments/Finance/Publications

RFP #: 269-2026-162 16 of 40 compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal and state awards.

The Report of Independent Auditor is presented as the first component of the Financial Section of the ACFR.

3.2.4. City’s Fiscal Year.

The City’s fiscal year is July 1st through June 30th.

3.3. Services.

The Company is to provide:

3.3.1. Auditing Services.

The Audit will encompass a financial and AUP examination of the City’s ACFR and other financials in accordance with the laws and/or regulations of the State of North Carolina, which include requirements for the minimum scope of the audit. The financial and AUP audit will cover federal, state, and local funding sources in accordance with generally accepted auditing standards; Government Auditing Standards; the provisions of Title 2 U.S.

Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), the State Single Audit Implementation Act; and all other applicable laws and regulations.

3.3.1.1. Financial Audits. Financial examinations of the City’s city, state, federal and local funding sources, financial statements of Aviation and Charlotte Water, and the Charlotte Firefighters’ pension fund and statements. Services shall also include the subsequent issuance of opinions and Audit Reports for the City’s fiscal year end.

3.3.1.2. AUP Audits. Examination of the City’s Aviation, North Carolina Department of Environmental Quality (“NCDEQ”), and Charlotte Area Transit System’s (“CATS”) agreed-upon procedures (“AUP”). AUP Audits shall also include the subsequent issuance of Audit Reports for the City’s fiscal year end.

3.3.2. Audit Opinions and Reports.

The financial opinions and audit reports (the “Audit Report” or “Auditor’s Report”) will cover the financial statements for the governmental activities, the business-type activities, internal service funds, each major fund, a discretely presented component unit (as applicable) and the remaining fund information that collectively constitutes the basic financial statements. The combining and individual financial statements, schedules, and related information are not necessary for fair presentation, but will be presented as additional analytical data. This supplemental information, as required by Governmental Accounting Standards Board (“GASB”) 34, will be subjected to the tests and other auditing procedures applied in the audit of the basic financial statements, and an opinion will be given as to whether the supplemental information is fairly stated in all material respects in relation to the basic financial statements taken as a whole. The Auditor shall express an opinion on the budgetary comparison information for the General Fund, annually budgeted major and special revenue funds. An opinion will not be given on the Management Discussion and Analysis.

The Auditor’s Report is to be issued by the Company to the City for the City’s fiscal year end by no later than November 30th of the same year and must be presented to City Council’s Budget, Governance and Intergovernmental Relations (“BGIR”) Committee within forty-five

(45) days from the date of the opinion letter.

3.3.3. Other Services.

The Audit may also include the following:

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i. Pre-planning conference with City staff where both the Auditor and City staff discuss their expectations of the audit.

ii. Interim Audit work prior to June 30th and/or prior to final close.

iii. Attendance at City Council's Budget, Governance and Intergovernmental Relations (“BGIR”) Committee meeting for presentation of the financial statements by Manager or Partner of the Company, with comments and potential questions from the BGIR committee as requested.

3.4. Responsibilities.

3.4.1. City Responsibilities.

The City is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the City shall evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for twelve (12) months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

3.4.2. Company's Responsibilities.

The Company is to:

i. be an independent contractor and will be wholly responsible for the Services and the supervision of its own employees and permitted sub-contractors.

ii. Evaluate the City’s financial statements and perform an audit in accordance with generally accepted U.S. auditing standards and Government Auditing Standards.

iii. Exercise professional judgment and maintain professional skepticism throughout the Audit.

iv. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

v. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control.

vi. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

vii. Conclude whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for a reasonable period of time.

viii. Issue an Auditor's Report that includes financial audit opinions.

ix. Communicate with the City the planned scope and timing of the Audit, significant Audit findings, and certain internal control related matters identified during the Audit.

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3.5. Compliance, Legal, and Other Requirements.

The following shall apply to the Services provided by Company:

3.5.1. Certifications.

The Company must be a Certified Public Accounting firm or an Accounting company certified and qualified to audit local government accounts at the time of service.

3.5.2. Generally Accepted Auditing Standards (“GAAS”).

The standardized framework for conducting audits, ensuring consistency and reliability, as developed by the Financial Accounting Standards Board (“FASB”).

3.5.3. Government Auditing Standards (“GAS”).

A set of guidelines established by the Governmental Accounting Standards Board (“GASB”) for state and local governments and issued by the U.S. Government Accountability Office

(“GAO”).

3.5.4. Office of Management and Budget (“OMB”) Uniform Guidance (Title 2 CFR 200).

3.5.5. The State Single Audit Implementation Act.

3.5.6. Special Audit Requirements.

The Company is to follow special audit requirements as outlined in:

i. Attachment A, Special Audit Requirements; and

ii. Attachment B, Special Audit Requirements, Charlotte Firefighters’ Retirement System.

3.5.7. North Carolina Administrative Code 20 NCAC 03 .0502., Audit Contract.

Reference link:

http://reports.oah.state.nc.us/ncac/title%2020%20- %20state%20treasurer/chapter%2003%20- %20local%20government%20commission/20%20ncac%2003%20.0502.pdf

Refer to Attachment C, 20 NCAC 03 .0502., Audit Contract.

3.5.8. Local Government Commission Audit Contract.

In addition to the City contract, an annual contract documenting the terms of the Audit will be signed (the “LGC-205”, or “Contract to Audit Accounts”). The Company and City may also execute an engagement letter (the “Engagement Letter”) to include additional terms not addressed in the LGC-205 and City contract. The entire contract package must be approved by the Local Government Commission (“LGC”). Invoices are subject to approval by the LGC prior to payment by the City. Interim or progress billings for services rendered marked approved by the LGC will be paid up to 75% of the total fee prior to submission of the final audited financial statements to the Local Government Commission. The final 25% of the Audit fees (final invoice) will be paid when the financial statements, single audit (if applicable), management letter and amended contract (if applicable) have been reviewed or approved by the LGC.

Refer to Attachment D, LGC-205.

3.5.9. Other applicable laws and regulations.

3.6. Reporting Requirements.

A planning meeting will be held each year to determine schedules that the City will be responsible for preparing. Estimated timeframes will be established and interim Audit work will be planned. Adequate notification will be given prior to any changes in estimated times.

The City prefers:

i. Interim fieldwork be completed in late May or early June, at the latest.

http://reports.oah.state.nc.us/ncac/title%2020%20-%20state%20treasurer/chapter%2003%20-%20local%20government%20commission/20%20ncac%2003%20.0502.pdf http://reports.oah.state.nc.us/ncac/title%2020%20-%20state%20treasurer/chapter%2003%20-%20local%20government%20commission/20%20ncac%2003%20.0502.pdf http://reports.oah.state.nc.us/ncac/title%2020%20-%20state%20treasurer/chapter%2003%20-%20local%20government%20commission/20%20ncac%2003%20.0502.pdf

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ii. Year-end fieldwork should begin by or before mid-September and be completed by late September. While many documents can be shared electronically, the City expects that the Company’s staff will be onsite for fieldwork, including manager and partner level staff for at least a portion of the onsite work.

iii. An agreed upon post-closing trial balance must exist by October 31. The City’s Finance Officer will expect a listing of requested information needed for the audit at the preplanning conference, periodic conferences during the conduct of the audit, as well as an exit conference prior to the completion of fieldwork.

Required Reports include, but will not be limited to:

3.6.1. Audit Scope and Timeline.

The Company must provide the City with the planned scope and timing of the Audit, significant Audit findings, and certain internal control related matters identified during the Audit.

3.6.2. Audit Report.

The Company must provide a written opinion as to whether the City’s financial information is fairly stated, in all material respects, in relation to the financial statements taken as a whole.

3.6.3. Management Letter.

The Company will issue a management letter (the “Management Letter”) to the City’s Chief Financial Officer after completion of the audit and assist management in implementing recommendations, as is practical. The City also request that an informal letter be addressed to the Finance Officer with any efficiency, internal control or accounting improvements that could be made based on the Auditor’s observation during their fieldwork. All content must be discussed with the Finance Officer prior to issuance of the Management Letter.

3.6.4. Council/Committee Presentation.

Within forty-five (45) days from the date of the opinion letter, the Auditor must present its assessment to City Council's Budget, Governance and Intergovernmental Relations (“BGIR”) Committee.

3.7. Records Retention.

The Company’s working papers shall be retained for no less than five (5) years. In the final year audit services are provided, working papers will be made available to the City and/or successor company in accordance with the customary practice within the auditing profession.

3.8. Insurance.

If recommended for award, the Company must provide the following prior to contract signature(s):

Company shall provide and maintain at its expense during the term of this Contract the following program(s) of insurance covering its operations. Such insurance shall be provided by insurer(s) qualified to do business in North Carolina, have a rating at least “A-“ by A.M. Best, and be satisfactory to the City as approved by the City's Risk Management Division.