Addendum 2- Clarifying Questions and Responses.pdf

REQUEST FOR PROPOSAL (RFP) FOR EXTERNAL AUDIT SERVICES

EASTERN OREGON UNIVERSITY

RFP # 2024-25-05

Addendum #2 – Responses to Questions

1. Did the University issue this RFP due to mandatory rotation of auditors or as part of the regular process of issuing an RFP every five years? Issuing as part of the regular competitive procurement process

2. How long has the current auditor been engaged? Since 2015

3. Were there any issues with the current auditor? Are they allowed to respond to this RFP? Decline to answer

4. Were there any journal entries discovered by the auditors during the 2024 audit process? Unclear what is being asked in reference to the RFP submission.

5. How many auditors and how many days were the auditors in the field for interim and final fieldwork?

Decline to answer

6. What is the University’s preferred timing for the audit in order to meet the December issuance deadline? Our issuance is required by the first week of October

7. What are the University’s expectations for in-person fieldwork versus remote fieldwork? Expectation is in person fieldwork

8. At the issuance of the financial statements, does the University expect the auditor to present to the

Board of Trustees in person? Or can this presentation be done virtually? Yes, the expectation is in person and is typically in January

9. Outside of the audit process, how does the University define value from its relationship with its auditors?

10. What transition issues would the University be concerned about if the audit is awarded to new auditors? Decline to answer

11. What were the fees for the services to be provided under this RFP? Did any of these fees include additional fees for out-of-scope work? Decline to answer

12. What are the anticipated 2025 fees for the services to be provided under this RFP? Decline to answer

13. Were there any major audit issues identified during the 2024 audit? Any anticipated ones for 2025?

No

14. What is the makeup of the Finance Department and team? How long have they been in their rolls?

Any significant retirements expected in the next 5 years?

https://www.eou.edu/hr/files/2025/03/2025-EOU-Org-Charts03.31pptx.pdf Page 7 - retirements are unknown

15. What federal programs are anticipated to be selected for testing in the 2025 audit based on the preliminary SEFA? What are the total federal expenditures on the preliminary SEFA?

https://www.eou.edu/admin/financial-reports/ https://www.eou.edu/hr/files/2025/03/2025-EOU-Org-Charts03.31pptx.pdf

16. Are there any significant changes in federal funding anticipated for 2026? This is unknown

17. When will the draft of the University’s financial statements be available for review by the Auditor?

Has the University met this deadline in each of the last 3 years? We submit periodic drafts once final visits are over. Typically provided when requested and/or there are updates.

18. Over the past 3 years, has the audit timeline been delayed due to late delivery of the draft of the financial statements to the auditor or late delivery of support for the audit procedures (i.e. fulfillment of the PBC listing)? No

19. How many leases and how many SBITAs does the University have? Do you anticipate adding any significant leases/SBITAs during 2026? Capital Leases so far in FY25: 10, SBITAs: 18 in FY25. Expectation for an increase in SBITAs only

20. Are there any bond refundings planned for 2026 and beyond? 21. Are there any new bond issuance planned for 2026 and beyond? This is unknown

22. Are there any significant construction projects planned for 2026 and beyond? We have capital improvement projects in the queue and a request for a capital project pending with the legislature.

23. Are there any planned ERP conversions or significant software changes planning for the next 10 years? We always evaluate when the contract renews.

24. Has the University analyzed the potential impact of GASB 103 or future GASBs currently sitting in

Preliminary View or Exposure Draft on the University between now and FY2030, the end of this contract period? If the impact of GASB 103 and future GASBs is unknown at this time, is the University willing to negotiate fee adjustments due to additional hours related to implementation of these future standards?

GASB 103 will have minimal impact on EOU, but as far as any other future GASBs, those are unknown at this time

25. Under #2 Scope of Services, it says the selected audit firm will be responsible for “assisting with compliance for federal programs in accordance with the UG audit requirements”. What do you mean by

“assisting with compliance”? Audit firm’s responsibility to independently assess and verify the university’s adherence to federal requirements as outlined in the Uniform Guidance (2 CFR 200). This includes conducting the Single Audit.

26. Under #3 Staffing qualifications, it says the Partner/Principal must have experience with two audits of “universities”. Does this experience qualification include community colleges and 4-year colleges?

Four year colleges/universities.

27. If there are exemptions noted to the standard terms and conditions in order to comply with professional standards, should those be noted in the proposal? You may propose moderate changes to the terms and conditions, however EOU will determine if they are acceptable changes or not.

28. Depending on when you are able to post the questions and answers, would you consider extending the deadline to allow for time to make any needed changes based upon your responses? Yes, the timeline will be reasonably extended if needed.

29. Under #1 Introduction, it says: ”The selected firm will be expected to begin providing auditing services for the fiscal year ending June 30, 2026, term of the initial agreement is five years, with the option to renew annual for up to an additional five years.” Would you like a fee proposal for five years or just for fiscal year ending June 30, 2026? A five year initial agreement and fee proposal.

30. Could you provide clarification on PROPOSAL REQUIREMENTS Item 6. The request mentions providing information for three relevant clients, and the last sentence asks for a “summary of audit outcomes and client feedback where possible.” Could you please clarify what exactly you are looking for in the “summary of outcomes and client feedback?” A summary of how the audit process was conducted as well as a statement from the client, if available and possible to provide. Looking to see if the audit process aligns with ours and having client feedback assists in the evaluation.