INDEPENDENT AUDIT SERVICES (SIFA)

The Schools Infrastructure Financing Agency (SIFA), a joint powers agency operating under Modesto City Schools, is seeking qualified independent audit firms to provide comprehensive financial and compliance audit services for a three-year contract period covering fiscal years ending June 30, 2026, through June 30, 2028. The Request for Proposal (RFP No. 26-4842) requires auditors to conduct full financial audits of all Agency funds, preparing preliminary and final audit reports in accordance with generally accepted auditing standards and California Education Code Section 41020. Key deliverables include five hard copies and one electronic copy of audit reports, delivered seven days prior to the December board meeting each year, along with exit conferences and written reports on documentation deficiencies. Proposing audit firms must have California-licensed CPAs with at least two years of prior agency financial record auditing experience, meet independence standards of the most recent GAO Governmental Auditing Standards, and demonstrate a record of quality work. The evaluation methodology will allocate a maximum of 70 points for technical qualifications and 30 points for cost of services. Proposals must be submitted electronically through the District's e-Procurement Portal by 12:00 p.m. PST on March 5, 2026, with a questions deadline of February 4, 2026, and initial screening planned for the week of March 9, 2026.

The RFP does not specify specific set-aside designations or restrictions for disadvantaged enterprises. The current incumbent auditor is Hawks & Associates CPAs, Inc., who prepared the June 30, 2025 financial audit report. The contract allows for compensation not to exceed the maximum cost proposed by the Auditor for each audit year, with the Agency retaining ten percent of each payment until all contract deliverables are delivered, accepted, and approved by the State Controller's Office. Proposers must provide hourly rates for partners, managers, in-charge accountants, and staff accountants for each of the three contract years. Insurance requirements include general liability and property damage insurance of at least $1,000,000 and professional liability insurance of at least $1,000,000, with the professional liability coverage remaining in force for two years following contract termination. While specific budget ranges are not explicitly stated, the financial statements indicate the Agency manages significant financial resources, with total assets of $14,007,432 as of June 30, 2025, suggesting a potentially substantial audit engagement value.