SIB03-24 - Audit Services

The ScholarShare Investment Board (SIB), the state agency responsible for administering 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 fiscal years ending June 30, 2024 and June 30, 2025. The selected firm will be expected to provide audit and examination services, including evaluating internal controls, confirming expenses, and preparing audit reports with audited financial statements. The draft and final audit reports are due on specified dates, and the selected firm may be required to rotate auditing teams or lead auditors during the term of the contract. The contract term is from December 1, 2024 through June 30, 2026, with a maximum amount of $65,000 and an option to extend for an additional year and up to $32,500. The RFP provides detailed requirements for the proposal content and format, including qualifications and experience of the firm and personnel, and a cost proposal worksheet. The contract will be awarded to the responsible and responsive firm with the highest total score based on the evaluation criteria outlined in the RFP.

Preference programs are available for small businesses, microbusinesses, and disabled veteran business enterprises. The procurement is open to firms located in Sacramento County and San Francisco City, California. No incumbent vendors or current contractors are mentioned, and the RFP does not specify any existing infrastructure or technology that requires integration.