SIB03-24 - Audit Services

The ScholarShare Investment Board (SIB), the administrator of California's 529 college savings plan, is soliciting proposals from qualified public accounting firms to audit the financial statements for the ScholarShare Administrative Fund for the fiscal years ending June 30, 2024, and June 30, 2025. The selected contractor will provide audit and examination services, including evaluating the system of internal controls, confirming expenses, and providing audit reports. The term of the agreement is October 4, 2024 through June 30, 2026, with an option to extend for one additional year. The minimum qualifications for proposers include being a certified public accounting firm in business for at least three years and having an office and staff in California. The cost proposal is not to exceed $65,000 for the potential three-year contract.

The contract opportunity is open to qualified public accounting firms in the state of California, specifically in the jurisdictions of Sacramento County and San Francisco City. The RFP includes preference programs for small businesses, microbusinesses, and disabled veteran business enterprises. The auditor that performed the prior year audit has been invited to bid again, and the total audit fees for the prior year (fiscal year 2022-2023) were $23,600.00 for the audit of two program funds. There are no known set-asides or special funding requirements mentioned in the document.