Request For Proposal
Request For Proposal For Audit Services
- RFP Type: Professional Audit Services
- RFP Status: Open
- Open Date: June 12, 2020
- Closing Date: July 15, 2020
Vermont Public Transportation Association, hereafter known as VPTA, is requesting proposals from qualified firms of certified public accountants to audit its annual financial statements for VPTA’s fiscal year ending June 30, 2019, and June 30, 2020 with the option of auditing its financial statements for fiscal years June 30, 2021, 2022 and 2023. Interested parties may request a copy of the RFP and/or additional proposal documentations by contacting Natalie Hunt by email at firstname.lastname@example.org. All proposals must be received by VPTA no later than 3:00pm on July 15, 2020. VPTA maintains an equal-opportunity policy and no proposer will be discriminated against because of age, gender, race, color, religion, sexual orientation, national origin, or disability.
Q & A to VPTA’s Request for Proposal (RFP) Auditor
Q: In the scope of work to be performed section on page 2, you mention Governmental Accounting Standards Board. However, it is my understanding that VPTA is a nonprofit and not a municipality, so the GASB requirements do not apply.
A: That’s correct, VPTA is a nonprofit. However, after speaking with AOT we are not required to comply with Generally Accepted Government Auditing Standards (GAGAS) since we do not expend more than $750,000 of federal dollars annually.
Q: In the Auditing Standards to be Followed section on page 2, you mention the Single Audit Act. However, for FY2019, VPTA did not get a Single Audit. Did VPTA expend more than $750,000 in FY2020 which will require a Single Audit? If so, under what Federal program(s)?
A: Our contract with the State of Vermont states that they require a Single Audit. However, it was not required by them in the past two year. No, VPTA does not expend over $750,000 annually of federal funds.