Kentucky Housing Corporation (KHC) is soliciting bids for audit services for the audit of its financial statements for the fiscal year ending June 30, 2021 and certain other agreed-upon procedures. KHC will enter Competitive Sealed Bidding with any Bidder that is deemed a Responsible and Responsive Bidder to this Invitation to Bid.
KHC is the state housing finance agency and a political subdivision of the Commonwealth of Kentucky. Created by the General Assembly in 1972, KHC's mission is to invest in quality housing solutions for families and communities across Kentucky.
- Audit of the financial statements as of and for the year ending June 30, 2021 for KHC by a resident independent certified public accountant, in accordance with generally accepted auditing standards, standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, and issuance of reports thereon. See the attached letter dated January 11, 2021 from the Office of the Auditor of Public Accounts for additional requirements related to the financial audit. Such audit reports may be filed with the Auditor of the Public Accounts, the Controller of the Commonwealth of Kentucky, the U.S. Department of Housing and Urban Development (HUD), Fannie Mae, Ginnie Mae as well as other entities or agencies upon request. This report must be submitted to some entities within 90 days after KHC's fiscal year end.
- An audit report must also be issued containing supplemental information required by the HUD OIG Consolidated Audit Guide due to KHC's role as an issuer of Ginnie Mae pools. This report must be submitted electronically via the Ginnie Mae Enterprise Portal within 90 days after KHC's fiscal year end.
- Performance of agreed-upon procedures related to KHC's administration of the U.S. Treasury Department's Unemployment Bridge Program (UBP). Procedures to be performed include tests of compliance with Section 4.B. of the HFA Participation Agreement with the U.S. Treasury Department for the administration of KHC's UBP, including testing in accordance with the guidelines of a program specific audit under OMB Uniform Guidance in order to provide a verification of the effectiveness of KHC's Internal Control Program.
- Online submission of the “Data Collection Form for Reporting on Audits of States, Local Governments and Non-Profit Organizations" to the Federal Audit Clearinghouse. KHC must also submit its fiscal year-end financial information to HUD via HUD's online REAC system. The external auditor must approve such submission via the same system.
- KHC's bond offerings require an independent accountant to issue a comfort letter in accordance with AU Section 634.09 and Example Q of that same section. The number of bond offerings in a year can vary depending on prevailing economic conditions; two such offerings were completed during calendar 2016. (Copies of the most recent comfort letter, KHC offering statement, and agreed-upon procedures for the year ended June 30, 2017, as well as other relevant documents, are available at the following Internet address: www.kyhousing.org, under “About/Request For.")
- Previous years auditor-issued reports are available at www.kyhousing.org, under “About KHC/Data library/Annual Reports and Financial Statements."
- Bidders must be an independent certified public accountant or a firm of independent
certified public accountants with recognized standing in the Commonwealth of Kentucky.
- The contract will be for no longer than one year with the possibility of two (2) one-year
renewals, at the sole discretion of KHC.
- Each Bidder shall carefully examine the requirements and items requested.
- The failure of any Bidder to receive or examine any form, instrument, or document will in
no way relieve the Bidder from any obligation with respect to its Bid.
- Bidder shall submit only one Proposal for Services. Multiple proposals will not be
Questions Regarding the Invitation to Bid
Any questions posed by Bidders prior to the response deadline must be submitted in writing or by electronic mail to: James F. Statler, Kentucky Housing Corporation, firstname.lastname@example.org, or 1231 Louisville Road, Frankfort, KY 40601 or via phone at 502-564-7630. Mr. Statler will determine whether the response could have a material effect on the Bidder's Bid. If so, both the question and response will be posted on KHC's website for all potential Bidders to view. If not, the response will be made only to the questioner. In either case, the file will be documented to reflect the result.
Submission of Proposals
Proposals must be submitted electronically, preferably in a single PDF document, via email, no later than the time indicated below. See Section 3 of Exhibit A regarding the Kentucky Open Records Act and exemptions thereto.
To: James F. Statler
Kentucky Housing Corporation
Subject line to read: Audit Bid FY 2021
Proposals must be submitted electronically, preferably in a single-document PDF, via email to no later than
5 p.m. ET, Monday, March 15, 2021.
Proposals received after the stated deadline will NOT be accepted or reviewed for selection, unless Bidder can provide evidence that the cause of the delay was beyond Bidder's control. The Purchasing Officer will make a final determination as to whether to consider the Proposal.