FLRSD Financial Agreed Upon Procedures Engagement RFP 2026 Final.pdf

FREETOWN-LAKEVILLE REGIONAL SCHOOL DISTRICT

OFFICE OF THE SUPERINTENDENT OF SCHOOLS

98 Howland Road Lakeville, Massachusetts 02347

Telephone: 508-923-2000 Fax:508-923-0934 www.freelake.org

Request for Proposals (RFP) Responses due by 11:00 am on 10/23/26

Agreed-Upon Procedures Engagement

Fiscal Year 2022-2025 (July 1, 2022 – June 30, 2025)

1. Introduction

The Freetown-Lakeville Regional School District ("District") is soliciting proposals from qualified independent accounting firms to perform an Agreed-Upon Procedures (AUP) engagement covering the

District's financial operations for the period of July 1, 2022, through June 30, 2025.

The purpose of this engagement is to provide an independent assessment of selected financial processes, internal controls, and compliance with applicable Massachusetts General Laws, School

Committee policies, and Department of Elementary and Secondary Education (DESE) guidance. The engagement is intended to promote transparency, strengthen financial oversight, and identify opportunities to improve internal controls and financial management practices.

2. Background

From 2023-2025, the District experienced significant turnover within its Central Office, resulting in several key administrative positions being filled by interim personnel, part-time staff, and newly hired employees. During the FY25 budget development process, concerns arose regarding omissions within the proposed operating budget that was subsequently presented to and approved by the School

Committee. The budget omission was corrected through the budget transfer process that was presented and approved by the school committee

Additional concerns were identified following the completion of the District's annual independent financial statement audit, which reported deficiencies and material weaknesses in internal controls.

In response, the Select Boards of the Town of Freetown and the Town of Lakeville, and the

Freetown-Lakeville Regional School Committee, agreed to procure an independent Agreed-Upon

Procedures engagement. The scope of work has been developed in collaboration with the

Freetown-Lakeville Regional Finance Committee.

http://www.freelake.org

3. Purpose of the Engagement

The selected firm shall perform agreed-upon procedures designed to evaluate the effectiveness of selected financial processes, internal controls, statutory compliance, and financial reporting practices.

The engagement is not intended to serve as a financial statement audit or to express an audit opinion.

4. Scope of Services

The selected firm shall perform procedures sufficient to evaluate the following areas:

A. Internal Controls and Compliance

Review the design and effectiveness of internal controls, policies, and procedures related to:

● Cash receipts and deposits, including compliance with Massachusetts General Laws, Part I, Title

XII, Chapter 71, Section 37A.

● Cash disbursements, including compliance with Massachusetts General Laws, Part I, Title XII, Chapter 71, Section 16A.

● Payroll processing and payroll controls.

● Journal entry preparation, approval, and documentation.

● Budget development and approval procedures, including compliance with Massachusetts

General Laws and the Massachusetts Department of Elementary and Secondary Education memorandum dated August 27, 2010, Regional School District Budget Process.

● Budget transfers and authorization procedures.

● Use of Excess and Deficiency (E&D) funds, including verification that expenditures were authorized through School Committee action where required.

● Evaluate compliance with contract awards/executions greater than or equal to $10,000

B. Assessment Review

Review and compare the annual municipal assessment calculations billed to the Towns of Freetown and

Lakeville with the actual financial results and supporting documentation to determine accuracy and consistency.

C. Review of Significant and Unusual Transactions

Review significant or unusual financial transactions occurring during the engagement period to determine whether they were:

● Properly authorized;

● Adequately supported by documentation;

● Recorded accurately;

● Consistent with District policies and applicable laws.

Proposing firms are encouraged to recommend an appropriate materiality or dollar threshold for identifying significant transactions as part of their methodology.

D. Duplicate or Redundant Payments

Evaluate disbursement activity for duplicate, redundant, or otherwise questionable payments and identify opportunities to strengthen preventive controls.

5. Deliverables

The selected firm shall:

● Review relevant financial statements, accounting records, budgets, supporting documentation, and other records for the engagement period.

● Conduct interviews with District personnel and other individuals deemed necessary to complete the engagement.

● Evaluate the effectiveness of existing internal controls related to the agreed-upon procedures.

● Provide periodic status updates throughout the engagement.

● Prepare a comprehensive written report summarizing:

○ Procedures performed;

○ Factual findings;

○ Identified control deficiencies or areas of concern;

○ Recommendations for corrective actions and process improvements.

The final report shall be suitable for presentation to the School Committee, the member municipalities, and the public.

6. Proposal Submission Requirements

Proposals shall include the following information:

A. Firm Profile

Provide a description of the firm, including:

● Years in business;

● Organizational structure;

● Areas of specialization;

● Experience providing services to Massachusetts governmental entities.

B. Qualifications of Project Team

Identify the engagement team and provide resumes highlighting relevant experience, professional certifications, and specific expertise related to governmental accounting, internal controls, agreed-upon procedures, or forensic accounting.

C. Technical Approach

Describe the firm's proposed methodology, including:

● Planning process;

● Risk assessment approach;

● Interview process;

● Sampling methodology;

● Analytical procedures;

● Quality control procedures;

● Expected deliverables.

D. Project Schedule

Provide a proposed timeline identifying major milestones from contract award through issuance of the final report.

E. Cost Proposal

Provide a detailed fee proposal that includes:

● Fixed professional fees;

● Hourly rates, if applicable;

● Estimated reimbursable expenses;

● Any optional or additional services and associated costs.

F. References

Provide contact information for at least three governmental clients, preferably Massachusetts municipalities or regional school districts, for whom similar services have been performed within the past five years.

7. Minimum Qualifications

Firms responding to this RFP should demonstrate the following qualifications:

● A minimum of ten (10) years of experience providing governmental auditing, agreed-upon procedures, or forensic accounting services to Massachusetts municipalities, including K–12 school districts.

● Demonstrated experience evaluating governmental internal controls, financial reporting, and compliance with Massachusetts laws and regulations.

● Availability of qualified professionals, including Certified Public Accountants (CPAs).

● Knowledge of Massachusetts regional school district finance, municipal assessments, DESE financial reporting requirements, and municipal accounting practices.

8. Proposal Evaluation Criteria

Proposals will be evaluated using the following criteria:

1. Qualifications, certifications, and experience of the firm and assigned personnel.

2. Demonstrated experience performing similar engagements for Massachusetts municipalities and regional school districts.

3. Technical understanding of governmental accounting, internal controls, and applicable

Massachusetts laws and regulations.

4. Quality, completeness, and practicality of the proposed methodology.

5. Independence, objectivity, and absence of conflicts of interest.

6. Ability to complete the engagement within the proposed schedule.

7. Overall value and cost-effectiveness of the proposal.

9. District Rights

The District reserves the right to:

● Reject any or all proposals;

● Waive informalities or minor irregularities;

● Request additional information or interviews from proposers;

● Negotiate the final scope of services with the selected firm;

● Cancel this solicitation if it is determined to be in the District's best interest.

Submission of a proposal does not obligate the District to award a contract.

10. Questions

Questions regarding this Request for Proposals shall be submitted in writing to the District's designated procurement contact. Responses to substantive questions will be shared with all prospective firms.

RFP response is due by September 4, 2026 at 11:00 am. Please submit responses to:

John Higgins Director of Finance and Operations jhiggins@freelake.org