REQUEST FOR PROPOSAL
FOR AUDIT AND TAX SERVICE FOR
FLORIDA LOCAL GOVERNMENT INVESTMENT TRUST
FACC Services Group, LLC d/b/a CiviTek (the "Administrator"), on behalf of the Trustees of Florida Local Government Investment Trust, (the "Trust") is seeking a nationally or regionally recognized independent accounting firm to provide auditing and tax services to the Trust.
Qualified accounting firms are invited to submit proposals to provide auditing and tax services for the Trust. Written proposals will be received electronically until 5:00 PM EST on Monday, June 5, 2017. Proposals received after this date will not receive further consideration.
Description of the Trust
The Florida Local Government Investment Trust is organized under the laws of the State of Florida to permit participating local governments to pool surplus funds in order to take advantage of high quality investments and optimize net earnings. The Trust is governed by a six (6) member Board of Trustees and employs an investment manager, custodian banks, legal counsel and administrator to carry out the functions of the Trust. Through a separate contract between the Administrator and a professional mutual fund valuation agent, pool valuation services are provided to the Trust.
As an attachment to this RFP, the Form of Agreement and Declaration of Trust is provided.
Description of Required Services
The firm retained will be required to conduct an audit of the Trust's annual financial statements and investment schedules in accordance with generally accepted auditing standards and the standards for financial and compliance audits contained in Government Auditing Standards issued by the U.S. General Accounting Office. The firm shall also prepare the Trust’s annual state and Federal tax returns. The firm will be required to provide a PDF copy of the final audit report and one hard copy to the Board of Trustees. The Firm shall be required to present in person the audit findings at both the Trust Investment Advisory Board/Audit Committee and the Board of Trustee’s scheduled meetings in January of each year (The Firm may be able to present by phone after the first year). The past meetings were held in Orlando, FL. The audit should express an opinion on the financial statements as to fairness, in all material respects, of their presentation in conformity with generally accepted accounting principles. If during the course of the audit it is observed that any opportunities for economies in or improved controls over the Trust's current operations, it should be communicated to the Administrator in writing. Appointment of the Auditor by the Trust is for three years with options for two (2) one year renewals and includes a 90 day (but not later than March 31 of each year) cancellation policy by either party. Exercise of the renewal options shall be at the discretion of the Board of Trustees.
Note: The Trust is a non-taxable entity and files Form 1120 (Federal) and Form F-1120 (State) annually. The Trust’s tax returns are available for inspection at the offices of the Administrator.
Assistance to Be Provided To The Auditor And Report Responsibility
The administrative officer and staff will be available during the audit to assist the firm by providing information, documentation, and explanations. If requested, CiviTek will provide the auditor with use of a conference room, access to telephones, and photocopying facilities.
Report preparation, editing and printing shall be the responsibility of the auditor.
Compensation for auditing services will be paid annually upon completion of the audit or in up to 3 installments by ACH from the Trust. Compensation for preparation of the state and federal tax returns shall be paid upon receipt by the Administrator of the completed tax forms.
It is the intent of the Trust to select and appoint an auditor by September 1, 2017. The schedule for the first year audit is listed below. Please note that unless otherwise designated, all meetings shall take place at the offices of the Administrator in Tallahassee.
May 2, 2017 RFP posted
May 15, 2017 Question submissions due to Administrator
May 22, 2017 Answers posted to website
June 5, 2017 RFP submissions due to Administrator
June 9, 2017 Selection Committee meeting
July 27, 2017 Board of Trustees Meeting- recommendations to
July 28, 2017 Selection of Firm; response to all submitting firms
October 16, 2017: Start Date for Audit
October 30, 2017: Begin Field Work
December 18, 2017: Exit Interview and submittal of draft report
January 15, 2018: Delivery of Financial Statements & Audit Report
January 2018: (day TBD) Report by Auditor to the Board of Trustees
Note: The meeting date for the Board is yet to be determined, but likely to be January 25, 2018 in Orlando.
Note: Tax returns filing dates to be completed by deadlines as required by State & Federal laws.
Firms submitting proposals shall respond completely to the questions listed on the following page. All proposals shall be submitted electronically to Bryant Gries at BGries@flclerks.com by 5:00 PM EST on Monday, June 5, 2017.
Evaluation procedure and Criteria
Proposals submitted in response to this RFP will be reviewed in light of the evaluation criteria set forth on the attached "Questionnaire", which are not in order of importance. Proposals deemed to
be fully responsive to this RFP will be reviewed for additional information in the selection process.
The Trust reserves the right to reject any and all proposals and to waive any failure to comply with the terms of this RFP. Selection will be made in the sole and absolute discretion of the Trust.
Questions regarding this RFP or the Trust shall be made in writing and directed to Bryant Gries, Trust Services Manager. Mr. Gries can be reached at BGries@flclerks.com
All questions must be received electronically by May 15th. All questions and answers will be posted on our website : www.FloridaTrustOnline.com by May 22nd.
Once the RFP is issued by the Trust, respondents are prohibited from contacting any member of the Selection Committee or Trust regarding the subject matter of this RFP other than the contact stated above. Doing so shall disqualify the firm/individual from further consideration