Financial Statement Compilation Services

The Commonwealth of Kentucky, through the Tourism, Arts & Heritage Cabinet on behalf of the Kentucky Artisan Center at Berea, is soliciting proposals for financial statement compilation services via a Request for Proposal for a Personal Service Contract. The procuring entity seeks a qualified CPA firm to compile annual unaudited financial statements for the fiscal year ending June 30, 2026, in accordance with Generally Accepted Accounting Principles as prescribed by the Governmental Accounting Standards Board. Key deliverables include converting the Center's financial activity from cash basis to accrual basis accounting, preparing comprehensive financial statements with accompanying footnotes and disclosures, compiling the component unit closing package, and providing support during the external audit process, with draft financial statements due September 19, 2026 (Draft 1), September 22, 2026 (Draft 2), and final statements due September 26, 2026. The contract will be evaluated on a maximum of 1,400 points, with 800 points allocated to the technical proposal (400 points for relevant experience and 400 points for work plan and approach), 200 points for the cost proposal, and up to 200 points for oral presentations if required. Qualified vendors must be registered with the Kentucky Secretary of State and maintain Commercial General Liability Insurance of at least $1,000,000 per occurrence and $2,000,000 aggregate, plus Professional Liability Insurance of at least $1,000,000 per claim. Proposals must be submitted electronically through the Kentucky Vendor Self Service System in three separate sealed documents (Technical Proposal, Cost Proposal, and any Proprietary Information) by May 5, 2026, at 3:30 PM Eastern Time, with written questions due by April 15, 2026, at 3:30 PM Eastern Time and Commonwealth responses issued by April 23, 2026.

The RFP does not specify any set-aside designations or restrictions on the types of organizations that may respond, nor does it identify any incumbent vendors or current contractors for this service. No specific contract amount or budget range has been disclosed in the solicitation; however, prior year compilation services performed by the Commonwealth's Office of the Controller required 140 total hours at no fee, which may provide guidance for estimating proposal costs. The initial contract term runs from June 1, 2026, through June 30, 2026, with automatic renewal provisions to allow completion of fiscal year 2026 financial statements, and the Commonwealth reserves the right to renew the contract for up to two additional two-year periods following approval by the Secretary of the Finance and Administration Cabinet and the Legislative Research Commission Government Contract Review Committee. Work may be performed remotely with no on-site or travel requirements, and payment will be made within thirty working days of invoice receipt upon successful completion of services. All proposals must remain valid for a minimum of six months after the proposal due date, and the contract will not be effective until approved by the Secretary of the Finance and Administration Cabinet and filed with the Legislative Research Commission Government Contract Review Committee.