UCO 1016 - Audit and Tax Services.pdf

[LCOVER PAGE PLACEHOLDER]

[Grab your reader’s attention with a great quote from the document or use this space to emphasize a key point.

To place this text box anywhere on the page, just drag it.]

REQUEST FOR PROPOSALS

UCO-1016

Audit and Tax Services Issue Date: October 13, 2026 Proposal Submission: November 10, 2026 at 1:00 pm Eastern Standard Time

Designated Contact:

Caron Christian 205 East 42nd Street, New York, NY 10017 Caron.Christian@cuny.edu mailto:Caron.Christian@cuny.edu

Table of Contents

Part 1: Key Events and Dates; Designated Contacts; Proposal Due Location; Contract Term

Part 2: Proposer Qualifications and Requirements; and Diversity Participation Goals

Part 3: Project Objectives and Scope; Detailed Specifications and Deliverables and Certain Contract Specific Provisions

Part 4: Technical and Management Proposal Requirements (Proposal Volume II)

Part 5: Proposal Price Breakdown Pages (Proposal Volume III)

Part 6: Proposal Scoring Criteria and Weights

Part 7: Terms and Conditions of Contract

Part 8: Service Level Agreement (if applicable)

Part 9: Supplier Diversity Provisions

Part 10: Important Notices to Proposers

FORMS THAT MUST BE SUBMITTED WITH THE PROPOSAL

□ Form 1: Proper Information and Authorized Signature; Acceptance of Contract Terms; Proper Certifications;

Confidential Information; Signed RFP Addenda; and References

□ Form 2: Offeror’s Affirmation of Understanding of And Agreement pursuant to State Finance Law § 139-j(3) and § 139-j(6)(b)

□ Form 3: Offeror’s Disclosure of Prior Non-Responsibility Determinations and Certification of Compliance with State Finance Law § 139-j and § 139-k

□ Form 4: Diversity Practices Questionnaire

□ Form 5: Supplier Diversity (M/WBE/SDVOB) Utilization Plan and/or Supplier Diversity (MWBE/SDVOB) Request for Waiver Form. Also see Supplier Diversity Provisions in Part 9.

□ Form 6: RFP Checklist

□ Form 20: Gender-Based Violence and Workplace Certification

FORMS THAT CUNY MAY REQUIRE FROM THE PRESUMPTIVE AWARDEE

If required by CUNY, the Presumptive Awardee selected as a result of this solicitation (the “Presumptive Awardee”) shall complete, sign, and submit the following forms and certifications as described in Section 2.3.5 through 2.3.12 of Part 10 of this RFP.

□ Form 7: Executive Law Article 15-A – Minority and Women-Owned Business Enterprises and Equal Employment Opportunity Policy Statement

□ Form 8: Evidence in form and substance satisfactory to the University that the Contractor maintains workers’ compensation coverage and disability insurance coverage as required by the New York State Workers’ Compensation Law, or is exempt from this requirement

□ Form 9: New York State Vendor Responsibility Questionnaire (NYS VendRep)

□ Form 10: New York City Vendor and Principal Questionnaire (NYC PASSPort)

FORMS THAT THE CONTRACTOR MUST SUBMIT UPON REQUEST BY CUNY BEFORE, DURING AND AFTER THE

PROPOSED CONTRACT TERM

□ Form 11: CUNY Substitute W-9 Form

□ Form 12: Workforce Utilization Report

□ Form 13: Supplier Diversity (MWBE/SDVOB) Quarterly Contractor Compliance & Payment Report

□ Form 14: State Consultant Services – Contractor’s Planned Employment (Consultant Disclosure Form A)

□ Form 15: State Consultant Services Contractor’s Annual Employment Report (Consultant Disclosure Form B)

□ Form 16: Tax Law §5-a, Form ST-220-CA – Contractor Certification (Contractor to send to the University)

□ Form 17: Tax Law §5-a, Form ST-220-TD – Contractor Certification (Contractor to send to the State)

□ Form 18: Certified Weekly Payroll Report

□ Form 19: Contractor’s Safety Protocols

Part 1: Key Events and Dates; Designated Contacts; Proposal Due Location; Contract Term

Key Events and Dates

Action Date

CUNY issues RFP for Audit and Tax Services October 14, 2026

Submission of Written Questions Due Date 1 October 23, 2026 at 1:00 pm Eastern Standard Time

Submission of Written Questions Due Date 2 November 2, 2026 at 1:00 pm Eastern Standard Time

Proposal Submission Due Date and Time November 10, 2026 at 1:00 pm Eastern Standard Time

Proposers are advised to read all sections of this RFP document carefully, including all terms and conditions of the Part 7 - Form of Contract. By tendering a response to this solicitation, each proposer agrees that it accepts all terms and conditions in this RFP solicitation package without exception. If a proposer requires clarification, or if a proposer seeks to propose a change or an exception to, any of the terms and conditions contained in this RFP solicitation package, including to any of the terms and conditions to the form of contract in Part 7, then proposer must make any and all such requests in writing as part of a submission of written questions prior to the Written Questions Due Dates listed above. Requests for revisions or exceptions will be evaluated on a case-by-case basis, and determinations will be published in an addendum to the RFP. Proposers are not to rely upon an exception agreed to for a prior contract award to govern the terms of this solicitation – all proposed exceptions must be introduced and incorporated via addendum issued specifically for this solicitation. A proposer who submits requests for changes to the contract terms to the solicitation after the Written Questions Due Dates may result in the proposer’s proposal submission being deemed non-responsive by the University and not considered for contract award. For the avoidance of doubt, the University will not consider any requests to revise the contract terms after the Proposal Submission Due Date, and the University will not consider any requests to revise the contract terms after tentative Contract award.

CUNY reserves the right to amend any or all of the above dates and will issue such change in writing.

I. Designated Contact(s):

In compliance with the Procurement Lobbying Law, the individual(s) identified below are the Designated Contact(s) for this Request for Proposals solicitation and may be contacted for all inquiries regarding this solicitation:

City University of New York 205 East 42nd Street New York, NY 10017 Attention: Caron Christian E-mail: caron.christian@cuny.edu mailto:caron.christian@cuny.edu

New York State Procurement Lobbying Law permits rejection of a Proposal if a Proposer has made any unauthorized contact during the Restricted Period (as defined in the Procurement Lobbying Law).

Multiple violations of procurement lobbying restrictions regarding permissible contacts may lead to a Proposer’s being debarred from participating in future New York State procurements.

II. Proposal Due Location:

CUNY is not responsible for the delivery or submission of Proposals. Only Proposals that are sent to and received by the Designated Contact, shall be accepted. CUNY is not responsible for Proposals received after the deadline, regardless of the reason for lateness. On a case-by-case basis, CUNY may deem it acceptable for Proposals to be submitted via e-mail. For this solicitation, CUNY will only be accepting proposals via email.

• Proposals submitted via e-mail must include scans of original (wet) signatures and notarizations to be considered a valid Proposal.

• Proposals (including any excel spreadsheets) must be clearly labeled with three (3) separate pdf attachments clearly named for Volume I (Forms), Volume II (Technical Proposal), and Volume III (Price Proposal).

• Proposals submitted via e-mail must be clearly labeled with Proposer’s name and the RFP’s Project name by including the following subject line:

[Company’s Name] – UCO XXX Audit and Tax Services Proposal Submission

III. Anticipated Number of Contracts

CUNY anticipates awarding one (1) contract based on an evaluation of best value, as further described in Part 6 of this RFP.

IV. Anticipated Contract Term:

The Contract Term will be for five (5) years, commencing on the date that the Contract is approved by the Attorney General and the New York State Comptroller, as applicable.

V. Questions and Clarifications Regarding RFP Requirements:

All questions, requests for clarifications, or requests for a revision to any term or condition of this RFP must be submitted to the University’s designated contact (see Section I above) prior to the applicable due date(s) for submission of written questions. The University will not consider proposed revisions to the terms and conditions set forth in the RFP after such date(s) and will not negotiate the terms and conditions set forth in the RFP at any other time.

With respect to any requests for revisions to Part 7: Terms and Conditions, please be advised that such requests must be in the following format: a copy of the specific clause with the suggested revisions in redline form. The University will not consider requests for revisions to Part 7 that fail to follow this format.

Part 2: Proposer Qualifications and Requirements; and Diversity Participation Goals

Paragraph I: Minimum Proposer Qualifications [mandatory qualifications]:

CUNY is seeking an appropriately qualified Contractor with experience in providing these Services. To be considered for Contract award, the Proposer must meet the following minimum qualifications:

a. The Contractor must be a New York State licensed certified public accounting firm(s) with at least ten

(10) years’ continuous experience providing auditing and tax services to higher education organizations, which much include at least five (5) years providing audit and tax services to public higher education clients that present their financial statements in accordance with on Governmental Accounting Standards Board (GASB) requirements and are a similar in size and complexity as The City University of New York;

b. The Contractor’s experience shall be with public higher education organizations and not just with their affiliated entities such as foundations, research entities, and auxiliaries nor just private not-for-profit higher education organizations;

c. Contractor Partners proposed to provide Services must be New York State licensed Certified Public Accountants (CPA) with at least three (3) years of auditing experience in that capacity and having served as the Partner on at least three public higher education audits, similar in size and complexity as the City University of New York. Senior Audit Managers proposed to provide Services must be CPAs with at least two (2) years of auditing experience in that capacity. All other staff must have at least 6 months to one year of auditing experience;

d. Partners-in-Charge must be employed by the prime Contractor;

e. The Contractor shall be a firm with offices in at least five (5) states nationwide and with a team of partners, managers and staff that are dedicated to higher education and/or government clients, not just a not-for-profit and government practice generally;

f. The University participates in New York City’s public retirement system and thus the Contractor must have prior experience with large Pension and OPEB plans and with GASB 67/68 and 74/75.

g. Contractor must have had at least ten (10) higher education audit and tax engagements of which five (5) must have been in public higher education. Three (3) should be current audits/tax return preparation engagements and an additional two (2) engagements must have otherwise occurred within the last five

(5) years.

h. Any proposed Subcontractor(s) (as defined below) must have at least three (3) years of providing auditing and/or tax services to public higher education or governmental entities. (See section 1.5 below for Subcontractor participation goals for this procurement.)

Paragraph II: Non-Mandatory Proposer Qualifications: N/A

Paragraph III: Supplier Diversity Participation Goals

CUNY has established a 30% participation goal (based on the current availability of qualified MWBEs) in the aggregate for New York State certified Minority-Owned Business Enterprise ("MBE") and Women-Owned Business Enterprises ("WBE", and, together with MBE, "MWBEs") and a 6% participation goal (based on the current availability of qualified SDVOBs) for New York State certified Service-Disabled Veteran-Owned Businesses ("SDVOB"), to be part of the proposed team to provide the Services as subcontractor(s) or suppliers (the "Subcontractor(s)"). The Contractor shall be required to use good faith efforts to meet these participation goals.

Proposers may identify potential MWBE Subcontractor(s) by, among other means, referencing the directory of New York State certified MWBEs found at the following internet address:

https://ny.newnycontracts.com/

Proposers may identify potential SDVOB Subcontractor(s) by, among other means, referencing the list of New York State certified SDVOBs found at the following internet address: https://ogs.ny.gov/veterans.

As part of the proposer's response, a Supplier Diversity — MWBE/SDVOB Utilization Plan or a Request for Waiver form that is accompanied by supporting documentation must be submitted in order for the proposal to be considered responsive. The selected Contractor will be required to complete a Quarterly Contractor Compliance & Payment Report accompanied by proof of payment to MWBE/SDVOB Subcontractor(s), in such format as shall be required by CUNY on a quarterly basis during the term of the contract. Sample CUNY Supplier Diversity forms and reports may be found at https://www1.cuny.edu/sites/selltocuny/.

https://ny.newnycontracts.com/ https://ogs.ny.gov/veterans https://www1.cuny.edu/sites/selltocuny/

Part 3: Project Objectives and Scope; Detailed Specifications and Deliverables;

and Contract-Specific Provisions

3. Project Objectives and Scope:

3.1 Overview

The City University of New York is a public urban university located in the City of New York and founded in 1847 as the Free Academy. On April 11, 1961, Governor Nelson A. Rockefeller signed the legislation to formally establish CUNY, uniting seven public urban colleges into a formally integrated system. The Senior Colleges of the University are comprised of: Senior Colleges, Graduate and Professional Schools and Other Schools. The following colleges comprise the University:

Senior Colleges

Bernard M. Baruch College Brooklyn College The City College The College of Staten Island Hunter College John Jay College of Criminal Justice Herbert H. Lehman College Medgar Evers College New York City College of Technology Queens College York College

Graduate and Professional Schools

The Graduate School and University Center CUNY School of Law The CUNY Graduate School of Journalism CUNY School of Public Health and Health Policy CUNY School of Labor and Urban Studies The CUNY School of Professional Studies The CUNY Medical School

Other Schools

The William E. Macaulay Honors College

Community Colleges

Borough of Manhattan Community College Bronx Community College Eugenio María de Hostos Community College Kingsborough Community College Fiorello H. LaGuardia Community College Queensborough Community College Stella and Charles Guttman Community College

The University At A Glance

The University’s total r e v e n u e was approximately $6.2 billion for the 2025 fiscal year, funded primarily through New York State and New York City appropriations ($3.9 billion), grants, and contracts ($1.7 billion) as well as student tuition and fees, net ($614 million).

The University has more than 19,000 instructional and non-instructional full-time employees and more than 21,000 instructional and non-instructional part-time employees. The University serves more than 240,000 credit bearing students and had active course registrations of approximately 200,000 in adult, continuing and professional education.

The University participates in the following federal student financial aid programs: Pell Grant, Direct Loan, Perkins Loan, Federal Work Study (FWS), Supplemental Educational Opportunity Grant (SEOG) and Teacher Education Assistance for College and Higher Education (TEACH) Grant. These and other federal funds that flow through the University are subject to United States Office of Management and Budget (OMB) Uniform Guidance audit requirements. From time to time the University receives other grants that are reported in its Schedule of Federal Expenditures of awards.

The University has entered into agreements for much of its capital assets with the Dormitory Authority of the State of New York (DASNY). Under the agreement, DASNY manages the financing, design, and construction for the majority of CUNY’s capital projects. As of June 30, 2025, the University has recorded $4.7 billion in debt in its financial statements.

Blended Component Units

In addition to the colleges and schools listed above, two other related organizations, the Research Foundation of The City University of New York (“RF-CUNY”) and the City University Construction Fund (“CUCF”), are included in the University’s financial reporting entity as blended component units. The key elements for inclusion in the reporting entity as blended component units are based primarily on fiscal dependency and a relationship of financial benefit/burden. The University may also be financially accountable for governmental organizations that are fiscally dependent on it. Other organizations for which the nature and significance of their relationships with the University are such that exclusion from the financial reporting entity would render the reporting entity’s financial statements to be misleading or incomplete may also be included in the financial reporting entity. These two entities engage and conduct their own independent audits, and the Contractor will rely on the audited financial statements of these entities.

The State of New York presents the senior colleges and graduate and professional schools “senior colleges” as part of the primary government of the State of New York in its financial statements. Similarly, the City of New York presents CUCF and RF-CUNY as component units in its financial statements. In addition, the community colleges are reported as part of the primary government of the City of New York.

Separate legal entities meeting the criteria for inclusion in the blended totals of the University reporting entity are described below:

RF-CUNY

RF-CUNY is a separate not-for-profit educational corporation and legal entity, which operates as the fiscal administrator for the majority of University-sponsored programs financed by grants and contracts. These programs are for the exclusive benefit of the University and programs include research, training, and public service activities. This entity receives almost all of the University’s federal grants except for financial aid and, when applicable, Federal Emergency Management Agency (“FEMA”) funds.

230 West 41st Street LLC (“41st Street LLC”) was established on May 7, 2004 as a Delaware limited liability company. 41st Street LLC was organized pursuant to the Limited Liability Operating Agreement dated July 14, 2004 by RF-CUNY with a 100% interest in 41st Street LLC. 41st Street LLC was formed to acquire, own, and operate an approximately 300,000 square foot office building located at 230 West 41st Street in New York, New York. 41st Street LLC will continue indefinitely, unless terminated sooner pursuant to the Agreement.

The University has a financial benefit/burden relationship with RF-CUNY which is fiscally dependent on the University. Accordingly, financial activity related to RF-CUNY is included in the accompanying basic financial statements.

City University of New York Construction Fund (“CUCF”)

CUCF is a public benefit corporation, which has the authority to design, construct, reconstruct, and rehabilitate facilities of the University pursuant to an approved master plan. CUCF carries out operations, which are integrally related and for the exclusive benefit to the University. The University has a financial benefit/burden relationship with CUCF which is fiscally dependent on the University, and therefore, the financial activity related to CUCF is included in the accompanying basic financial statements.

Discretely Presented Component Units

The majority of the University’s colleges maintain auxiliary services, association organizations and/or child care centers. These entities are campus-based, not-for-profit corporations, which operate, manage, and promote educationally related services for the benefit of the campus community.

Almost all of the University’s colleges also maintain foundations, which are legally separate, nonprofit, affiliated organizations that receive and hold economic resources that are significant to, and that are entirely for the benefit of, the colleges. Foundations carry out a variety of campus related activities such as soliciting and accepting donations, gifts, and bequests for University-related use and in some instances administering grants from governmental and private foundations for research and scholarships. All of the foundations are audited independently and the Contractor will rely on the audited financial statements of these entities.

As a result, the combined totals of the campus related auxiliary services corporations, associations, child care centers and foundations are separately presented as discretely presented component units in the University’s financial statements in accordance with presentation requirements prescribed by GASB.

Each of the 27 foundations, 27 Auxiliary Enterprise Corporations and other component units, 18 Student Association Organizations, 11 Child Care Centers, listed below met these criteria, and are, therefore, discretely presented in the University’s basic financial statements. All of the discretely presented component units (which are collectively called Supporting Organizations) listed below are June 30th year-ends.

Foundations

Senior College Foundations:

• The Baruch College Fund

• The Brooklyn College Foundation, Inc.

• The Foundation for City College, Inc.

• The City University School of Law Foundation, Inc.

• The College of Staten Island Foundation, Inc.

• CUNY Graduate School of Journalism Foundation, Inc.

• CUNY TV Foundation

• The Graduate Center Foundation, Inc.

• The Hunter College Foundation, Inc.

• John Jay College Foundation, Inc.

• Herbert H. Lehman College Foundation, Inc.

• Macaulay Honors College Foundation

• Medgar Evers Educational Foundation, Inc.

• New York City College of Technology Foundation, Inc.

• Queens College Foundation, Inc.

• School of Professional Studies Foundation, Inc.

• York College Foundation

• CUNY Graduate School of Public Health and Health Policy Foundation

• CUNY School of Labor and Urban Studies Foundation

• The CUNY Medical School Foundation (will be included in FY 26 financial statements)

Community College Foundations:

• Borough of Manhattan Community College Foundation, Inc.

• Bronx Community College Foundation, Inc.

• Eugenio María de Hostos Community College Foundation

• Kingsborough Community College Foundation, Inc.

• Fiorello H. LaGuardia Community College Foundation, Inc.

• Queensborough Community College Fund, Inc.

• Stella and Charles Guttman Community College Foundation, Inc.

Auxiliary Enterprise Corporations

Senior College Auxiliary Corporations:

• Bernard M. Baruch College Auxiliary Enterprises Corporation

• Brooklyn College Auxiliary Enterprise Corporation

• The City College Auxiliary Enterprises Corporation

• Auxiliary Enterprises of the City University of New York – Graduate School and University

Fiduciary Accounts

• Hunter College Auxiliary Enterprises Corporation

• John Jay College of Criminal Justice Auxiliary Services Corporation, Inc.

• CUNY School of Law Justice & Auxiliary Services Corporation

• Herbert H. Lehman College Auxiliary Enterprises Corporation, Inc.

• Medgar Evers College Auxiliary Enterprises Corporation

• Auxiliary Enterprise Board of New York City College of Technology, Inc.

• Queens College Auxiliary Enterprises Association

• The College of Staten Island Auxiliary Services Corporation, Inc. and Subsidiary

• York College Auxiliary Enterprises Corporation

Community College Auxiliary Corporations:

• Borough of Manhattan Community College Auxiliary Enterprise Corporation

• Bronx Community College Auxiliary Enterprises Corporation

• Eugenio Maria De Hostos Community College Auxiliary Enterprises Corporation

• Kingsborough Community College Auxiliary Enterprises Corporation

• Fiorello H. LaGuardia Community College Auxiliary Enterprises Corporation

• Queensborough Community College Auxiliary Enterprise Association, Inc.

• Stella and Charles Guttman Community College Auxiliary Enterprise Corporation

Student Association Organizations

Senior College Association Organizations:

• Bernard M. Baruch College Association, Inc.

• Brooklyn College Student Services Corporation

• Brooklyn College Association, Inc.

• College of Staten Island Association, Inc.

• The City College Student Services Corporation

• John Jay College of Criminal Justice Student Activities Association, Inc.

• Herbert H. Lehman College Association for Campus Activities, Inc.

• Medgar Evers College Student Faculty Association, Inc.

• College Association of the New York City College of Technology, Inc.

• Queens College Association

• Queens College Student Services Corporation

• York College Association, Inc.

Community College Association Organizations:

• Borough of Manhattan Community College Association, Inc.

• Bronx Community College Association, Inc.

• Eugenio Maria De Hostos Community College Association, Inc.

• Kingsborough Community College Association, Inc.

• Fiorello H. LaGuardia Community College Association, Inc.

• Queensborough Community College Student Activity Association

• Stella and Charles Guttman Community College Association, Inc.

Child Care Centers

Senior College Child Care Centers:

• Baruch College Early Learning Center, Inc.

• GSUC Child Development and Learning Center, Inc.

• The Children’s Learning Center at Hunter College, Inc.

• Children’s Center of John Jay College of Criminal Justice, Inc.

• The Lehman College Student Child Care Center, Inc.

• Ella Baker/Charles Romain Child Development Center of Medgar Evers College

• Child Development Center at Queens College, Inc.

• York College Child and Family Center, Inc.

Community College Child Care Centers:

• Borough of Manhattan Community College Early Childhood Center, Inc.

• Hostos Community College Children’s Center, Inc.

• Fiorello H. LaGuardia Community College Early Childhood Learning Center Programs, Inc.

Other Component Units

Senior College Other Component Units:

• The City College Center for the Arts, Inc.

• Lehman College Art Gallery, Inc.

• Lehman College Center for the Performing Arts, Inc.

• Queens College Special Projects Fund

• Q Student Residences, LLC

Community College Other Component Units:

• LaGuardia Education Fund, Inc.

The above organizations are reported as discretely presented component units within the body of the financial statements, in accordance with GASB 61, to allow the financial statement users to distinguish between the University and the supporting organizations. None of the supporting organizations are considered individually significant compared to the University and the aggregate discretely presented component units. No other similarly affiliated organizations are known beyond those identified; however, new affiliated organizations may emerge within the term of the contract resulting from this RFP.

3.2 Audit Schedule

The CUNY fiscal year is defined as the period from July 1 to June 30. Therefore, the period July 1, 2026 to June 30, 2027 is designated fiscal year 2027. CUNY’s consolidated financial statements are required by Law to be issued by October 31 of each year following the end of the fiscal year. This necessitates the audit for the Consolidated Financial Statements be completed in accordance with the schedule established herein.

The selected proposer (“Contractor”) shall meet the University’s annual schedule, outlined below:

March 15 – August 31

• Audit engagement team and University management meet for purposes of initial audit planning.

• Contractor prepares audit plan.

• Meet with Audit Committee to review audit plan.

• Prepare and submit for CUNY review a detailed Provided by Client List

• Prepare confirmation requests.

• Conduct business process reviews at all University campuses and begin internal control and/or information technology test work.

• Perform Uniform Guidance audit work at all University campuses as required by professional standards based on estimated federal expenditures during the fiscal year.

• Conduct exit conferences with the colleges for business process reviews.

September 1 - October 31

• Audit identified areas that are prepared and managed by Office of Budget and Finance and/or colleges.

• Review the University's draft financial statements along with related notes and supplementary information.

• Prepare draft management letter comments as a result of campus visits, as required by professional standards for an audit.

• Finalize and issue audit report on the University’s consolidated financial statements.

• Prepare and file extension to file University 990T and related state tax filings.

October 30

• Meet with the Audit Committee to review and discuss financial statements

November 1 – March 15

• Finalize and issue audit report on the University’s senior college financial statements.

• Conduct exit conference with Office of Budget and Finance (“OBF”) to review draft management letter comments, if any.

• Issue management letter, if any.

• Prepare draft schedule of findings and questioned costs arising from the OMB Uniform Guidance audit, if any.

• Conduct exit conference with the OBF to discuss Uniform Guidance findings.

• Issue OMB Circular Uniform Guidance audit report (no later than March 15).

• Meet with the Audit Committee to review and discuss Uniform Guidance audit report findings and management letters.

January 1 – April 30

• Prepare all required tax returns.

Notwithstanding any of the foregoing, audit reports, tax returns, and other deliverables must be submitted by the Contractor in time to meet any applicable statutory or regulatory reporting or submission requirements.

3.3 Tax Returns

Contractor shall prepare all required Form 990T and NYS CT-13 forms for the University, as well as any necessary filing extensions, with final drafts of the forms to be received by the Office of Budget and Finance no later than April 30. In addition, Contractor may be asked to prepare other state tax returns as a result of CUNY’s investments. CUNY may direct Contractor to prepare 990T Unrelated Business Income Tax (UBIT) for other states, including but not limited to California, North Carolina, North Dakota, New Mexico, and Oklahoma. Contractor will also be expected to answer tax questions as they arise.

3.4 Project Scope and Objectives

3.4.1 Financial Statement Audits and Uniform Guidance Compliance Audit

The Contractor shall conduct audits of the financial statements, accounts, records and procedures for the University in accordance with Generally Accepted Auditing Standards (GAAS) in the United States of America to ensure that such financial statements and appended notes present fairly, in all material aspects, their financial position in accordance with Generally Accepted Accounting Principles (GAAP) and with applicable Governmental Accounting Standards Board (GASB) statements.

In addition, Contractor shall audit the University’s compliance with the requirements described in U.S. Office of Management and Budget (OMB) Uniform Guidance in accordance with the standards applicable to financial audits contained in Governmental Auditing Standards, issued by the Comptroller General of the United States; and OMB Uniform Guidance, audits of states, local, governments, and non-profit organization.

The Contractor shall provide an independent auditor’s report on the University’s financial statements, with a related report on internal control over financial reporting and compliance with applicable laws and regulations for year of the audit conducted. Comments and recommendations on other matters involving internal control and operations shall be separately communicated in a management letter.

3.4.2 Tax Services

1. The Contractor will assist in the preparation, review, and filing of required annual tax returns. In conjunction with this, it is expected the following services will be provided:

a. Assist the University in its conduct of the annual tax survey to be completed by each college and certain central offices. The purpose of this survey is to identify any revenue generating activities in the University's operations that may result in unrelated business income tax (UBIT). Services will include assisting in the preparation and review of the survey to ensure it is addressing all relevant UBIT issues, reviewing college and central office responses and follow-up, and preparing the necessary tax returns (currently Federal Form 990T and New York State Form CT-13).

b. Prepare any required tax forms related to Alternative Investments identified by the University from time to time as being held by the University in connection with the review and preparation of the Federal Form 990T, New York State Form CT- 13, and any other necessary tax return.

c. Review the University's operations to determine any reporting obligations as it relates to UBIT. The successful proposer must have a monitoring process to identify and address any new or changing revenue activities that would potentially become a part of an income tax reporting base.

d. Provide regular update sessions and correspondence necessary to advise the University of the means to conduct its affairs in a manner to minimize income tax consequences on its operations.

e. Provide guidance related to IRS Forms 1099 and 1098 and other tax issues/questions as they arise.

f. Provide annual updates related to any relevant tax changes which are relevant to the University.

2. The Contractor shall also provide detailed tax services, on an as-needed basis, including but not limited to:

a. Representing the University in any matters related to the tax return filing with relevant regulatory authorities (e.g., Internal Revenue Service, New York State Department of Taxation and Finance, and other taxing authorities).

b. Reviewing specific activities carried on by the University to determine any reporting obligations as it relates to UBIT, nonresident alien reporting, employment taxes, and/or other tax matters related to institutions of higher education.

3.5 Scope of Work

3.5.1 Subcontracting

Contractor may only subcontract Services with CUNY’s prior written consent. CUNY has established a goal for MWBE Subcontractors for the Contract; please see Part 2, Paragraph III above . Proposers responding to this RFP, and the selected Contractor, may propose to subcontract any Services within the defined Scope of Work, and may subcontract such Services, provided that CUNY has given its prior written consent, including, without limitation, relating to the portion of the Services being proposed for subcontracting and the proposed subcontractor firm, which consent may be withheld or conditioned by CUNY for any reason whatsoever. In addition, all changes to any of the approved subcontractor(s) engaged for this project will be subject to approval by CUNY. Proposers are recommended to indicate in their Proposals the portion of the scope of work that they intend to subcontract to any firm, including MWBEs and SDVOBs. In addition, Proposers must indicate their intent to use MWBE and SDVOB firms by submitting a Utilization Plan or a request for waiver, with its Proposal as part of Volume I (see Form 5). At this time, there are currently no Services in this solicitation that have been identified by CUNY as prohibited from being subcontracted to MWBE or SDVOB firms, provided, however, that any such subcontracting remains subject to CUNY’s prior written consent as set forth above and in the RFP.

3.5.2 Location of Services & Equipment

Contractor shall perform the Services at the campuses and buildings of CUNY Colleges and Central Office as required. Contractor shall provide and use its own equipment for its onsite staff providing the Services. The Contractor may perform portions of the Services remotely as part of a hybrid audit model, provided that CUNY management grants prior approval and specifies which activities may be conducted remotely.

3.5.3 Project Team

3.5.3.1 Contractor shall designate in writing to CUNY a project manager of Contractor’s firm as Contractor’s project manager for this Project (“Project Manager”). The Project Manager shall:

a. serve as principal liaison between CUNY and Contractor for purposes of administration of the Contract;

b. be an employee of the Contractor (and not a consultant, contractor, or subcontractor);

c. have full decision-making authority on behalf of Contractor including authority to obligate Contractor;

d. maintain control over the work duties, schedule, and performance of the Consultant team;

e. conduct status meetings and provide status reports as requested;

f. provide meeting summaries (minutes) within two (2) business days of meetings; and resolve any CUNY questions and comments on the submitted deliverables.

3.5.3.2 In the event of a mid-term change of Project Manager, or during the absence of the Project Manager, for any reason, Contractor shall promptly provide a detailed continuity plan, which shall be subject to CUNY’s approval.

3.5.3.3 Contractor shall ensure that CUNY shall always have access to an individual with full authority to make decisions on behalf of Contractor. Nothing in this section shall be deemed to preclude CUNY from discussing any matters relating to Contract with any other members of Contractor’s organization.

3.5.3.4 Contractor shall provide resumes with respect to all proposed initial and replacement key team members (“Key Team Members”) of Contractor’s project team for delivery of the Services (“Project Team”), , showing that such persons meet the qualifications required to perform the Services.

3.5.3.5 Contractor must comply with Attachment A when proposing former CUNY employees as members of the Project Team.

3.5.3.6 Contractor shall be responsible for any clerical support required for this Contract.

3.5.4 Training

Contractor shall provide training at least once per year, as requested by CUNY, for accountants at the colleges and Central Office who prepare work for the audits. The session may include financial statement preparation, reviewing Provided by Client (“PBC”) list, tax requirements, Governmental Accounting Standards Board (“GASB”) updates, Uniform Guidance updates and including Management’s Discussion & Analysis (MD&A) preparation, as required by CUNY. Contractor shall include information on emerging national trends related to all training subjects. The Contractor shall provide Board training at least once a year to the members of the Audit Committee as a presentation at one of the scheduled Committee meetings identified by CUNY.

3.6 Communications

Contractor, including its officers, employees, agents, or subcontractor(s) shall not make any statement to the press or issue any communication or publication concerning, or related to, the Project without prior written approval from CUNY.

3.7 Document Delivery

3.7.1 Contractor shall provide all draft Deliverables (as described below) to University in sufficient time for CUNY review, including modification and final approval. Contractor shall respond to any CUNY comments to the Deliverables and make such modifications as may be necessary and shall resubmit updated draft Deliverables to CUNY until receiving final approval from CUNY.

3.7.2 Contractor shall transmit each Deliverable to the University with a dated and signed transmittal letter. All Deliverables must meet the World Wide Web Consortium’s Web Content Accessibility Guidelines (WCAG) version 2.0AA standards.

3.8 Return of CUNY Information at Termination

Within ten (10) calendar days of termination of Services for any reason, Contractor shall, with respect to all original CUNY documents and data, in whatever media, whether originally provided or created during performance of the Services:

- Return them to CUNY; and

- Provide independent certification of destruction of all copies.

3.9 CUNY Responsibilities

3.9.1 CUNY and each college will identify an audit liaison to assist the Contractor.

3.9.2 Office of the University Controller (“OUC”) and the Colleges will be available to provide systems documentation and explanations as may be required.

3.9.3 OUC will timely provide Contractor with CUNY holiday schedules.

3.9.4 Clerical support will NOT be provided by the University.

3.9.5 OUC will be responsible for the oversight and administration of the Contract.

3.9.6 The University staff will prepare the necessary financial statements, account reconciliations, and related work papers as requested by the Contractor prior to commencement of fieldwork.

3.9.7 Contractor will not be provided with computer time or the use of computer hardware and software.

3.9.8 Access to reasonable work area, a telephone, a fax machine, internet connection, and photocopying of records will be made available to the audit team at each site for the purpose of performing the audit work.

3.10 Scope of Services and Deliverables

3.10.1 Overview

Contractor shall perform the Services as are generally described in this RFP.

The Contractor shall conduct audits of the financial statements, accounts, records and procedures for the University in accordance with Generally Accepted Auditing Standards (GAAS) to ensure that such statements and appended notes include the disclosures necessary for a fair presentation of the financial statements in accordance with Generally Accepted Accounting Principles (GAAP) and with applicable Governmental Accounting Standards Board (GASB) statements. Additionally, Contractor will assist in the preparation, review, and filing of required annual tax returns.

3.10.2 Deliverables

The Contractor shall conduct the following tasks and provide the listed Deliverables:

3.10.2.1 CUNY Audits

Table 1, CUNY Audits - Tasks and Deliverables

Task No.

Task Deliverable

1.1 Contractor shall provide an audit of the CUNY Consolidated Financial Statement in draft and final forms in accordance with GAAS and all components of the

Up to 75 hard copies and one

University GASB-formatted financial statements. These components include, electronic copy of but are not limited to, the Statement of Financial Position, Statement of the certified Revenue, Expense and Changes in Net Assets, Statement of Cash Flow, University Financial Footnote Disclosures and a Management’s Discussion and Analysis and Statements, Senior Required Supplemental Information (collectively, the “University Financial College Financial Statements”) and any other supplementary information as may be required by Statements, and GASB. Uniform

1.2 Contractor shall provide an audit of the Senior College Financial Statements in draft and final forms in accordance with GAAS and all

Guidance audit report with opinion components of the University GASB-formatted financial statements to CUNY’s Office of

1.3 Contractor shall provide an audit of the University’s compliance with the requirements described in U.S. Office of Management and Budget (OMB) Uniform Guidance in accordance with the standards applicable to financial audits contained in Governmental Auditing Standards, issued by the Comptroller General of the United States; and OMB Uniform Guidance, audits of states, local, governments, and non-profit organization.

the University Controller (OUC).

1.4 Contractor shall provide a separate opinion (“Opinion”) for each of the University Financial Statements, Senior College Financial Statements, and Uniform Guidance.

3.10.2.2 University Management Letter

Table 2, CUNY Consolidated Financial Statements Management Letters - Tasks and Deliverables

No. 2

Task Deliverable

2.1 If required by professional standards, contractor shall provide a Management Letter by college which shall include, where appropriate, an evaluation of accounting, administrative and internal controls (the “Management Letter”).

The Management Letter shall include recommendations for any improvement of internal controls by college.

Up to 25 hard copies and one electronic copy of the Management Letter with evaluation of accounting and administrative controls for each college and central office.

3.10.2.3 Federal and State Tax Reporting Forms

Table 3, Federal and State Reporting Forms - Tasks and Deliverables

No. 3

Task Deliverable

3.1 Contractor will assist in the preparation, review, and filing of required annual tax returns. Contractor shall prepare such Federal and State reporting forms including but not limited to IRS Form 990T and NYS CT-13. As noted in section

3.3 Tax Returns, UBIT fillings will also be required for some other States.

Required Federal and State reporting forms for the University 2 weeks prior to the required state and federal submission dates and follow-up 2 days before the submission due date (including tax extensions as required) to ensure the University’s timely submission.

3.10.2.4 Financial Statement Assistance

Table 4, Financial Statement Assistance - Tasks and Deliverables

Task No. 4

Task Deliverable

4.1 Contractor shall provide OUC and each College with a preliminary listing of schedules and information required for the audits. The Provided By Client (PBC) check list will contain a detailed listing of the information to be provided to the contractor for preparation of the audits.

PBC check list to OUC and each College. PBC should be delivered at a minimum of 8 weeks before commencement of fieldwork both final and interim fieldwork dates.

4.2 Contractor shall provide University with reasonable assistance on general accounting or tax questions, upon request.

Assistance shall be provided in a timely manner.

4.3 Contractor shall provide training to accountants at the colleges and Central Office who work on University audits regarding financial statement preparation, GASB updates, Management’s Discussion and Analysis preparation, tax requirements, uniform guidance updates and other applicable updates.

Annually and as requested by CUNY liaison or their designee.

3.10.2.5 Letter of Authorization

Table 5, Letters of Authorization - Task and Deliverables

Task No. 5

Task Description Deliverable

5.1 Contractor shall prepare Letters of Authorization on behalf of the University to authorize release of certain financial information necessary to complete audit services.

As requested CUNY liaison or their designee.

3.10.2.6 Progress Reports

Table 6, Progress Reports - Tasks and Deliverables

No. 6

Task Description Deliverable

6.1 Contractor shall maintain progress reports detailing the hours expended by each level of personnel, the status of work in progress, anticipated completion dates for major audit segments, any major impediment to completing the audit on schedule and shall provide such information as requested by OUC.

Major impediments shall be communicated to the CUNY liaison timely depending on severity but no more than five business days from identification of the instance.

As requested by CUNY. Submitted invoices must be accompanied by relevant supporting schedules as noted in Part 3.

6.2 Contractor shall provide an overall schedule that tracks progress on all audits for which they are responsible.

An updated schedule submitted to CUNY no less than bi-weekly for review to the CUNY liaison

3.10.2.7 Presentations

Table 7, Presentations - Tasks and Deliverables

No. 7

Task Description Deliverable

7.1 Contractor shall make presentations regarding the audits to the governing body of the University, the University Trustees Committee on Finance and Administration and its Audit Committee, and University administration as may be requested by CUNY and in order to fulfill professional standards related to audit and/or tax preparation engagements.

Present information to the University governing bodies and/or University upon request and/or as required by professional standards.

3.10.2.8 Final Closing Conference

Table 8, Final Closing Conference - Tasks and Deliverables

No. 8

Task Description Deliverable

8.1 The Contractor will provide a final closing (exit) conference at the conclusion of each campus visit. For all onsite components of a the audit, the Contractor shall not leave any CUNY facility without first informing and checking out with CUNY’s audit liaison

A closing (exit) conference at each College and at CUNY Central Office.

3.11 Additional Services

3.11.1 Audit services. Historically the City University of New York has required special scope audits from time to time in the course of business for different reasons such as, but not limited to, bond offerings/bond refinancing related to debt guaranteed by the City University of New York. While we do not anticipate an annual requirement for these services, the Contractor shall perform, as required by the University, additional audit-related services not to exceed $75,000 per Contract year. Any such services would be requested by OUC in writing and a separate engagement letter would be required for these services before any billable work begins.

3.11.2 Tax services. Periodically tax questions arise which will require the contractor to render an opinion on whether an activity is taxable. While we do not anticipate an annual requirement for these services, the Contractor shall perform, as required by the University, additional tax related services not to exceed $25,000 per Contract year. Any such services would be requested by OUC in writing and a separate engagement letter would be required for these services before any billable work begins.

All additional services described in this Section 2.10 shall be referred to herein as “Additional Services” and shall otherwise constitute Services under the Contract once requested by OUC. Any Additional Services will be performed in accordance with this section and the Contract and must be based on the applicable Hourly Billing Rates for the specific staff classification from time to time in effect under the Contract during the performance of the Additional Services.

3.12 Billing, Invoices and Payment

3.12.1 Subject to the terms of the Contract, CUNY shall pay Contractor a prorated portion of the annual

Lump Sum Price…