3-Addendum 2 dated 5-13-26- RFP for Audit Services 20260511-1005 for HCV.pdf

This is Addendum 2 to the Request for Proposals issued by the Housing Authority of Covington (HAC), Hart County, Kentucky, dated May 13, 2026, regarding audit services for the Housing Choice Voucher Program. The addendum modifies the original RFP issued May 11, 2026, which solicits comprehensive independent audit services from qualified, licensed Independent Public Accounting (IPA) firms. Proposers must submit sealed proposals by 2:00 p.m. on Wednesday, June 3, 2026, through the Bonfire e-Procurement portal, with questions due by 11:00 a.m. on May 20, 2026. The selected contractor will provide annual audits of the HCV program's financial statements, internal controls, and federal compliance for an initial one-year term from July 1, 2025 through June 30, 2026, with HAC holding sole discretion to extend the contract for up to four additional one-year terms through June 30, 2030. Evaluation will be conducted on a best-value basis using criteria including firm qualifications (10 points), project-specific staffing and qualifications (10 points), management plan and audit approach (15 points), competitive differentiators (10 points), professional references (10 points), required certifications (10 points), and pricing (35 points).

The contract is structured as a firm fixed-price agreement with proposals requiring itemized costs broken down by staff level for each fiscal year audit. Successful contractors must carry professional liability insurance of at least $500,000 and commercial general liability insurance of at least $500,000, maintain current CPA licenses, and demonstrate substantial experience with HUD programs, Public Housing Authorities, and Housing Choice Voucher audits. All work must comply with Generally Accepted Auditing Standards (GAAS), Generally Accepted Government Auditing Standards (GAGAS), Title 2 U.S. Code of Federal Regulations Part 200 (Uniform Guidance), and HUD requirements. The contract is funded through HUD Housing Choice Voucher Program assistance; the program currently manages 943 vouchers with annual revenue of approximately $10.34 million and expenditures of approximately $8.95 million as of March 31, 2026. Payments will be made within 30 calendar days of invoice receipt following work completion and acceptance, with no advance payments permitted. All contractors must comply with Section 3 provisions and federal civil rights requirements.