Provide financial & compliance audits

Winthrop University, a component unit of South Carolina located in York County, is soliciting proposals for comprehensive financial and compliance auditing services through RFP 5400026639. The university seeks a qualified certified public accounting firm to perform multiple audit services including financial statement audits, single audits in accordance with Uniform Guidance, NCAA Division I agreed-upon procedures for intercollegiate athletics programs, UNC Board of Governors tuition guaranty bond attestations, and preparation of Form 990-T federal and state exempt organization business income tax returns. The contract covers fiscal years ending June 30, 2024 through 2028, with services requiring compliance with United States auditing standards and Government Auditing Standards. Mandatory proposal criteria include current South Carolina CPA licensure, maintenance of independence standards, and proof of workers' compensation, general liability, and automobile liability insurance. Key proposal submission and evaluation dates include: questions due by April 9, 2024 at 4:00 PM, proposals due by April 22, 2024 at 11:00 AM, and award notification posted on April 2, 2024. The evaluation will assess proposal responsiveness, understanding of scope, relevant experience with public higher education institutions, personnel qualifications, and business proposal terms.

The solicitation does not explicitly indicate specific set-aside designations or restrictions for disadvantaged enterprises. The incumbent audit firm is Cline, Brandt, Kochenower & Co., P.A., which has been providing services under a previous five-year contract ending in 2024. The current contract's total potential value was $179,500, with annual audit service fees ranging from $29,000 to $57,000, depending on the fiscal year. The new contract allows for an initial one-year term with four optional one-year renewal periods, providing a maximum contract duration of five years. Pricing requirements include all-inclusive fees for required services, separate per-issue fees for bond document reviews, and hourly rates for optional consulting services such as GASB implementation assistance and administrative system assessments. Progress billings are permitted up to 50 percent of the total fee, with final billing occurring upon delivery of bound reports. Winthrop will provide previous auditor work papers and expects staff to prepare preliminary trial balances and draft financial statements for auditor review.