2026-01-23 REQUEST FOR PROPOSALS.docx

REQUEST FOR PROPOSALS

Municipal Audit Services Entity: Port of Newport, Newport, Oregon Proposal Due Date: March 15, 2019, by 4:00 p.m. (PST) Project: Financial Statements Audit Proposals for this project will be accepted via hand delivery, U.S. Mail, fax, or PDF submission by email.

I. INTRODUCTION

The Port of Newport (“Port”) invites qualified public accounting firms to submit proposals to provide independent financial audit services for the Port for an initial five‑year period, beginning with the FY 2025–26 financial statements, with two optional five‑year extensions.

This Request for Proposals (RFP) outlines the Port’s background, the scope of services requested, proposal submission requirements, and the evaluation process.

II. BACKGROUND

The Port of Newport is an Oregon municipal corporation, originally formed on May 26, 1910, and reauthorized under ORS Chapter 777 in 1926. The Port is governed by an elected Board of Commissioners, with day‑to‑day operations managed by the Executive Director.

The Port’s mission is to:

Build and maintain waterfront facilities and promote and support projects and programs in cooperation with community organizations and businesses to retain existing jobs, create new employment opportunities, and advance community economic development.

The Port operates as an enterprise similar to a commercial entity organized for profit. Its Enterprise Funds account for operations that are financed and operated in a manner comparable to private-sector business enterprises, with costs recovered primarily through user fees and service charges. The Port receives about 1% ($130,000) of it’s operating revenue from taxes.

III. SCOPE OF SERVICES

Proposals should address the following services:

1. Annual Financial Audit Conduct an annual financial audit for the fiscal year ending June 30, 2026, in accordance with all applicable professional standards and regulatory requirements.

2. Single Audit When the Federal threshold for a single audit has been exceeded, provide a single audit.

3. Reporting and Filing Requirements

· Complete the audit in time to meet the December 31 filing deadline.

· File required reports with the Oregon Secretary of State, Audits Division.

· Provide final Journal entries and Trial balance to Port.

· Optional:

1. Prepare consolidated financial statements.

2. The Port is open and is prepared to perform to preaudit work to reduce the amount of workload during the actual audit.

4. Port Responsibility

· The Port will provide the grouping of financial accounts for the consolidated financial statements.

· All audit work shall be coordinated through the Director of Finance.

5. Governance and Communication

· Each year communicate the staff members names that will be involved in audit and their role.

· Each year provide the Port with an audit calendar which includes timelines. This ensures that the auditors will receive the required documentation in a timely manner.

· Present the finalized audit report at a Port Commission Meeting.

6. Multi‑Year Commitment Include proposed fees for audits covering the following periods:

· Fiscal year ended June 30, 2026

· We anticipate a 5-year commitment from both parties.

IV. KEY PERSONNEL AND CONTACT INFORMATION

The following individuals serve as primary contacts for this RFP:

· Mr. Mark A. Brown Director of Finance mbrown@portofnewport.com Phone: (541) 406-0370

· Mr. Mark Harris Staff Accountant

Requests for additional information, site visits, review of prior financial statements, or meetings with Port management must be coordinated through the Director of Finance. Completed proposals should be addressed to his attention at the address provided in this solicitation.

V. PRIOR AUDIT SERVICES

The Port’s financial audits for the past 5 fiscal years were performed by Kern Thompson of Portland, Oregon, primary contact: Eric Zehntbauer eric@kern-thompson.com.

Proposing firms may contact the prior auditors during the proposal preparation process.

VI. PROPOSAL CONTENT REQUIREMENTS

Proposals must include the following information:

1. A summary of the firm’s experience providing audit services to public entities and organizations, two to three sentences should suffice.

2. Identification of the partner, manager, and in‑charge accountant proposed for this engagement, including biographies, home office locations, and disclosure of any disciplinary actions by regulatory authorities, along with corrective actions taken.

3. A description of the firm’s audit approach, including staffing, use of affiliates (if any), areas of audit emphasis, and communication protocols with management and the Board.

4. A fee proposal that includes the current billing rate for each of associate, manager or Partner that will work on the audit.

· Fiscal year 2025–2026

· Provide a methodology for calculating future year billing rates.

The Port understands this price is an estimate only, and the price may increase or decrease depending on the hours spent performing the audit.

5. An explanation of how the firm bills for technical consultation or questions that arise outside the annual audit.

6. A narrative explaining what differentiates the firm from other respondents and why it represents the best value for the Port.

VII. EVALUATION OF PROPOSALS

Proposals will be evaluated on a qualitative basis, including but not limited to:

· Professional qualifications and relevant experience

· The firm’s approach to the audit.

· The methodology for calculating future years billing rates.

· Completeness, clarity, and timeliness of the proposal submission.

VIII. ADDITIONAL INFORMATION

A copy of the Port’s audited financial statements can found at : https://www.portofnewport.com/fiscal-year-budgets-audits, or on the Secretary of State website.