UNIVERSITY OF MASSACHUSETTS
REQUEST FOR PROPOSAL
U N IV ERS I TY I N DEP EN D EN T E X TER NAL A U D IT
RFP # UP16-DJ-0901
SUBMITTED BY
THE UNIVERSITY OF MASSACHUSETTS,
PURCHASING DEPARTMENT, SHREWSBURY, MA 01545
SPONSORED BY
UNIVERSITY OF MASSACHUSETTS - OFFICE OF THE PRESIDENT
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1.0 General Information
1.1 SUMMARY
The University of Massachusetts (University) seeks proposals from qualified certified public accounting audit
firms to provide audit services and prepare completed reports to meet the University's independent external
annual audit requirements for:
1.
The University’s Annual Financial Report (audit services)
2. The University’s Annual Report on Federal Financial Assistance Programs/Schedule of Expenditures for
Federal Awards (SEFA) in Accordance with OMB Uniform Guidance (SEFA) prepared by audit
3. The University’s Triennial Report on Massachusetts Student Financial Assistance Programs in Accordance
with the Massachusetts Office of Student Financial Assistance (OSFA) Attestation Guide (OSFA report prepared
by audit firm and includes Building Authority Federal Funds)
4.
The University of Massachusetts Foundation, Inc. Financial Statements (audit services)
5. The University of Massachusetts Building Authority Financial Statements (audit services - see below for
legal entity Financial Statements and tax requirements)
6. Worcester City Campus Corporation Financial Statements, (audit services - see details below regarding
legal entity financial statement)
7.
UHealth Solutions, Inc. 403(b) Plan Financial Statements (audit and tax preparation services)
8.
The UMass Memorial Foundation, Inc. Financial Statements
9.
University of Massachusetts Dartmouth Foundation, Inc. Financial Statements (audit services)
10. A GASB 67 Attestation Letter to be provided to the Commonwealth’s External Auditor stating (1)
management’s census data of active employees in the State Pension Plan is presented in conformity with
applicable guidelines established by the American Institute of Certified Public Accountants and (2)
management’s assumptions provide a reasonable basis for its census data.
11. Additional related management consultation and audit services.
The annual audits will be conducted for the Fiscal Years 2016, 2017, 2018, with the option to contract for
Fiscal Years 2019 and 2020 (Fiscal Year end on June 30th).
One firm will be chosen to perform all audit, tax and consultative services.
Annual Financial Report
The University’s Annual Financial Report must be presented in conformity with Governmental Accounting
Standards Board (GASB) and must be presented to the State Comptroller no later than October 15 th of each
year. The report includes required financial statements, disclosures, and management’s discussion and
analysis along with supplemental schedules for each of the University campuses and Central Administration.
In addition, required supplemental schedules for the combined University Related Organization must be
presented. The University’s five campuses, Central Administration, WCCC and UMass Memorial Foundation
share a common administrative system, Oracle/PeopleSoft Finance, but remains decentralized in its
operations. Each campus prepares supplemental schedules for the financial statements and the consolidation
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is performed within Central Administration. UMass Building Authority and UMass Foundation each utilize
stand-alone accounting systems.
OMB Circular A-133
The University’s Annual Report on Federal Financial Assistance Programs/Schedule of Expenditures for Federal
Awards (SEFA) in Accordance with OMB Uniform Guidance. The firm will perform the audit in accordance with
applicable Government Auditing Standards and report on the University’s compliance with requirements
applicable to each major federal program and on internal control over compliance in accordance with the
OMB Circular A-133 Compliance Supplement, and provide a schedule of findings and questioned costs, and
follow-up of prior year audit findings as applicable. The A-133 Report is due to the State Comptroller by
December 31st of each year. The auditor will complete and sign specified sections of the OMB Data Collection
Form, required for submission by the University to the Federal Audit Clearinghouse by March 31st after the
close of the audit year.
Report on Massachusetts Student Financial Assistance Programs
The Report on Massachusetts Student Financial Assistance Programs must be performed in conformity with
the “Student Financial Assistance Attestation Guide, Fifth Edition – August 2013 Rev”, that may be found at
www.osfa.mass.edu or by contacting the Massachusetts Office of Student Financial Assistance (OSFA), 454
Broadway, Suite 200, Revere, MA 02151, (617) 391-6070. OSFA campus audits were last performed for FY14 as
the University received waivers for FY12 and FY13. The University must provide attestation reports for the
four campuses (Amherst, Boston, Dartmouth and Lowell) for fiscal year 2017. The following years’ audits may
be on a campus rotating basis dependent upon OSFA performance determination.
University of Massachusetts Foundation, Inc.
The financial statements of the Foundation must be presented in accordance with accounting principles
generally accepted in the U.S. (U.S. GAAP). The report includes statement of financial position and statements
of activities and changes in net assets and cash flows, along with related footnote disclosures. The firm will
meet with the
Governance and Audit Committee of the Foundation and will present a formal report on the results of their
audit. This report will incorporate a discussion of Foundation accounting policies and practices, as well as
disclosure of significant deficiencies and material weaknesses identified during the audit. Audit work should
be completed by October 1st, in order to meet the Commonwealth’s deadline of October 15th for the
University.
University of Massachusetts Building Authority (“UMBA” or the “Authority”)
The financial statements of the Authority must be presented in accordance with accounting principles
generally accepted in the U.S. (U.S. GAAP). The report includes statement of financial position and statements
of activities and changes in net assets and cash flows, along with related footnote disclosures. The firm will
meet with the
Audit Committee of the Members of the UMBA Board and present a formal report on the results of their
audit. Additionally, the firm will provide “No-Default” letters to the Authority’s Letter-of-Credit banks. The
Authority’s financial statements include the operations of the University of Massachusetts Club; the audit firm
will also prepare the 990 tax return for the University of Massachusetts Club. These tax filings are due on
November 15th annually, however extensions until May 15th of the following year are available. Audit work
should be completed by September 15th in order to meet the Commonwealth’s deadline of October 15 th for
the University.
Worcester City Campus Corporation
The financial statements of Worcester City Campus Corporation (“WCCC”) include the consolidated results of
10 legal entities. WCCC is a 501(c) (3) real estate holding corporation. The subsidiaries are Worcester Campus
Services, Inc. (“WCS”) and it’s 9 real estate holding corporation subsidiaries: Worcester Campus Services – 122
Maple Street, Inc.,., Worcester Campus Services – 100 Century Drive, Inc., Worcester Campus Services – 55
Lake Avenue, Inc., Worcester Campus Services – 365/373 Plantation Street, Inc., Worcester Campus Services –
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333 South Street, Inc., Worcester Campus Services – One Innovation Drive, Inc., Worcester Campus Services –
377 Plantation Street, Inc., and Worcester Campus Services – 381 Plantation Street, Inc. Additionally, WCCC
has a 501(c)(3) not-for-profit health care consulting organization, UHealth Solutions, Inc. (“UHS”). Each of the
legal entities has its own Board of Trustees to which results of operations are reported.
WCCC requires a GAAP audit opinion to file their respective forms 990. These tax filings are due on November
15th annually, however extensions until May 15th of the following year are available. Tax returns are prepared
in house for WCCC and all of its subsidiaries.
The WCS entities were formed in FY10 and FY13 and have individual 501(c)(3) statuses as real estate holding
corporations.
The consolidated WCCC entity has $490 million of assets consisting primarily of $395 million of investments in
real estate and cash and receivables related to UHS’s operations. The investment in real estate is partially
financed by $317 million of bond liabilities. The consolidated results of WCCC are 100% attributed to the
consolidated results of the Worcester Campus (University of Massachusetts Medical School).
In addition to the filing deadline associated with the forms 990, the Bond covenants of WCCC require that
audited financial statements be filed with the Commonwealth of Massachusetts by December 31st of each
year.
Audit work should be completed by October 1st, in order to meet the Commonwealth’s deadline of October
15th for the University.
UHealth Solutions, Inc. 403(b) Plan
UHealth Solutions, Inc. has a 403(b) plan through American Funds with current assets of $3,386,124.74 as of
7/22/15. There are currently 134 participants in the plan with year to date contributions of $120,374.49 as of
7/22/15. The effective date of the plan is September 1, 2003. Employees are eligible to participate in the plan
at the beginning of the month following hire date. Employees must contribute at least $200 per year and work
at least 20 hours per week to be eligible. Employees are eligible for matching contributions of an amount
equal to 50% of employee’s elective deferrals after one year of service (minimum of 1,000 hours of service).
The vesting schedule for employer contributions is 25% after one year of service, 50% after 2 years of service
and 100% after 3 years of service. The plan does not allow loans but does allow distributions for financial
hardship. The third party administrator is The Feingold Companies.
The UMass Memorial Foundation, Inc.
The UMass Memorial Foundation, Inc. (“UMMF”) is a not-for-profit corporation under Section 501(c)(3) and a
public charity under section 509(a)(1). UMMF operates exclusively for charitable and educational purposes
and primarily to promote and assist the UMass Medical School with fund raising and philanthropic activities.
Funds raised are ultimately distributed to the UMass Medical School, the UMass Foundation, Clinton Hospital,
Marlborough Hospital, and Wing Memorial Hospital.
UMMF requires a GAAP review or audit opinion to file its form 990 (revenues are approximately $0.4 million).
This tax filing is due on November 15th annually, however extensions until May 15th of the following year are
available. The Board of Trustees has also historically required an audit opinion.
UMMF has total assets of $20.3 million consisting primarily of contributions receivable and split interest
agreements.
University of Massachusetts Dartmouth Foundation, Inc.
The UMass Dartmouth Foundation, Inc., (UMDF) is a not-for-profit corporation under section 501(c)(3) created
to render financial assistance and aid in the development effort and the educational programs of the
University of Massachusetts Dartmouth. Governed by its Board of Directors, the UMass Dartmouth
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Foundation receives and administers gifts to the University and provides support to the students, faculty and
staff through its efforts.
The UMDF’s assets include donor restricted investments and investments designated by the Board of Directors
(the “Directors”) which functions collectively as an endowment. A portion of the marketable securities are
held in an investment pool at the University of Massachusetts Foundation, Inc.
Additional Related Management Consultation and Audit Services
Additional related audit activity may be requested by the University. The University periodically requires
additional limited audits in the form of "written assurances" such as Bond consent Letters. Firms are
requested to provide a schedule of fees for such additional audit activity.
Management Letters
A Management Letter for the University and related organizations identifying any significant existing
weaknesses in accounting practices, fiscal procedures, internal controls, information technology, or any other
significant matter that may come to the auditor’s attention, along with any recommendations for corrections
or improvement, are requested by the University.
Audit Committee
The firm will meet with the Audit Committee twice per fiscal year. The firm will meet during the fourth
quarter Audit Committee meeting, usually takes place in early June, to present its audit plan for the current
fiscal year.
The University’s Annual Financial Report, A-133 Report and OSFA Report must be drafted by October 15 so
they can be reviewed by the Audit Committee. In addition, the aforementioned reports as well as the
Management Letter must be finalized prior to the fiscal year second quarter meeting of the Audit Committee,
usually takes place in early December, so it can be reviewed and approved at the meeting.
1.2 UNIVERSITY SYSTEM
The University’s five campuses and Central Administration Office are geographically dispersed throughout the
state. Each campus possesses a unique and complementary mission. A single Board of Trustees composed of
19 voting members and 3 non-voting members governs the University. The President of the University
oversees the five-campus system, and each campus has its own Chancellor reporting directly to the President.
The University is composed of the following campus operating units and related organizations:
UNIVERSITY CAMPUSES
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Central Administration
Amherst Campus
Boston Campus
Dartmouth Campus
Lowell Campus
Worcester Campus
RELATED ORGANIZATIONS

University of Massachusetts Building Authority
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
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
University of Massachusetts Foundation, Inc.
Worcester City Campus Corporation, and subsidiaries
The UMass Memorial Foundation, Inc.
University of Massachusetts Dartmouth Foundation, Inc.
UNIVERSITY CAMPUSES
Central Administration – Office of the President
The University of Massachusetts Board of Trustees, appointed by the Governor, oversees the University
including appointing the President, setting policy, approving the budget and fees, and approving new
programs. The Board of Higher Education subsequently approves new programs in its role as statewide
coordinating board, and also sets the relatively small component of student charges comprising tuition.
The President, as the principal academic and executive officer of the University, coordinates the work of all
campuses and promotes the general welfare of the University as a whole and in its parts. The Office of the
President is responsible for supporting the President in ensuring that the campuses adhere to Trustee policies
and master plans and that the University maintains the highest and most effective stewardship of its
resources. The Office of the President is also responsible for the preparation of the University’s Annual
Financial report and A-133 report of federal funds and the University’s annual budget request which is
presented to the Board of Trustees and to the Governor and the General Court.
Shared services have been deployed in key support functions such as information technology, financial
administration, auditing and legal services. The Office of the President is responsible for managing the shared
services for the University in an environment of collaborative governance in which the campuses, as the
consumers of the services, are deeply involved in decision making and direction setting. These shared services
are performed in Shrewsbury, MA and include financial reporting and system wide budgeting; legal services;
centralized debt administration; labor relations and benefits administration; internal audit; information
technology services including enterprise wide Finance and Payroll/Human Resource Management systems;
centralized banking, tax and investment services; and liability, vehicle, and other insurances. The Office of the
University Controller coordinates the University Audit and A-133 Financial Reporting.
Amherst Campus
The Amherst campus, located in Amherst, Massachusetts is the University’s flagship campus. The campus sits
on nearly 1,450 acres in the scenic Pioneer Valley in Western Massachusetts approximately 90 miles west of
Boston and 175 miles from New York City. With a student body of approximately 22,382 FTE undergraduate
and approximately 4,717 FTE graduate students enrolled in the fall of 2014, the Amherst campus offers the
most comprehensive and varied programs of the campuses in the University system, including liberal arts and
professional programs, in addition to doctoral and research programs. It offers six associate-level programs
and 111 bachelors, 76 masters and 47 doctoral degree programs. During the 2013-2014 academic year, 297
associate/certificate, 5,674 bachelor and 1,757 advanced degrees were conferred. Students may enroll in the
Commonwealth Honors College, School of Education, College of Engineering, College of Humanities and Fine
Arts, Isenberg School of Management, School of Nursing, College of Natural Sciences, School of Public Health
and Health Sciences, College of Social and Behavioral Sciences and the Stockbridge School of Agriculture,
which offers associate level programs.
The Amherst campus continues its commitment to academic excellence through its investment in faculty,
students and infrastructure. These investments on campus include:
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
The new Commonwealth Honors College Residential Community opened in FY14 as one of the nation’s
premier residential honors colleges. The facility represents a $188 million, six-building complex featuring
1,500 beds, nine classrooms and faculty residences as well as space for gathering, advising and
administration. This new complex has helped recruit the best and the brightest students with SATs at
1357 and GPAs at 4.21.
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The Massachusetts Life Sciences Center awarded UMass Amherst for $95 million to partner with life
sciences companies in developing new products and services. The investment is designed to extend the
fast-growing sector to western Massachusetts. Faculty in three new research centers will be housed in the
new $160 million Life Science Laboratories complex.

In the fall of 2015, the new Integrative Learning Center (ILC) will open. The ILC is a 173,000 square foot
state-of-the-art academic center housing 2,000 new seats including team based learning classrooms.
Even as the campus incorporates modern teaching methods involving new communication and information
technology, it remains an immersive, residential campus serving predominantly full-time students who learn
from peers as well as professors. True to its Land Grant roots, the campus is engaged in research and creative
work in all fields. U.S. News and World Report’s annual college guide ranks UMass Amherst among the
nation’s Top 30 public universities. UMass Amherst is a research powerhouse with total research expenditures
in fiscal 2014 totaling more than $200 million.
Boston Campus
The 175-acre Boston campus is located three miles from downtown Boston on a harbor peninsula with the
John F. Kennedy Presidential Library, the Massachusetts State Archives and Commonwealth Museum and the
Edward M. Kennedy Institute for the United States Senate. It is currently a non-residential campus. The
Boston campus focuses on the academic needs of the local urban and non-traditional population and research
and policy needs of business, government, and communities in the greater Boston metropolitan region.
Celebrating its 50th anniversary, the University of Massachusetts Boston is deeply rooted in the city’s history,
yet poised to address the challenges of the future. Recognized for innovative research, metropolitan Boston’s
public research university offers it students both an intimate learning environment and the rich experience of
a great American city. UMass Boston’s most distinguished intellectual contributions are in social sciences,
education, health and wellness, and the exact sciences, with faculty earning national and international
recognition in biology, environmental, earth and ocean sciences; green chemistry, and disability studies.
The Boston campus has a diverse student body, consisting of approximately 10,079 FTE undergraduate
students and approximately 2,754 FTE graduate students enrolled in the fall of 2014. The campus’s 193
undergraduate, graduate and certificate programs, offered through its 11 colleges and graduate schools, serve
their students while engaging local and global constituents through academic programs, research centers and
public service. During the 2013-2014 academic year 13 certificates, 2,366 bachelor and 1,306 advanced
degrees were conferred.
As the only public university in the Greater Boston area, UMass Boston has a unique mission to provide access
to high-quality, low-cost education. With approximately 80 percent of UMass Boston graduates choosing to
stay in Massachusetts, the University believes it is essential for future contributors to the state’s economy to
learn in 21st-century facilities and research environments.
Classes started in spring 2015 in the Integrated Sciences Complex (ISC), the first new academic building on
campus in nearly 40 years. The new building has begun to advance student and faculty access, engagement,
and success with state-of-the art research, teaching, and training laboratories. Its design promotes
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collaboration among students, faculty, staff, and visitors while opening doors to strategic and community
partnerships and funding opportunities.
Over the next several years, UMass Boston will continue work on six major capital projects which will
transform the campus. The projects are necessary to remedy serious construction deficiencies from the past,
bring teaching and learning spaces up to current pedagogical standards, and support the research enterprise.
The projects are General Academic Building 1 (GAB1), General Academic Building 2 (GAB2), utility corridor and
roadway relocation (UCRR), renovations to existing academic buildings, and demolition of the Science Center
and substructure.
Dartmouth Campus
The Dartmouth campus (“UMass Dartmouth” or the “Dartmouth Campus”) distinguishes itself as a vibrant
public research university dedicated to engaged learning and innovative research resulting in personal and
lifelong student success. The Dartmouth Campus serves as an intellectual catalyst for economic, social and
cultural transformation on a global, national and regional scale. The Dartmouth Campus offers more than 50
undergraduate and 40 graduate programs of study (including 12 at the Doctorate level) through the College of
Arts and Sciences (with a School of Education), the Charlton College of Business, the College of Engineering,
the College of Nursing, the College of Visual and Performing Arts, the School for Marine Science and
Technology and the UMass School of Law. The main campus, designed by the eminent architect Paul Rudolf, is
located on 710 acres in Dartmouth and is approximately 55 miles south of Boston and 30 miles east of
Providence, Rhode Island. Other Dartmouth Campus sites include the University of Massachusetts School of
Law in Dartmouth, the School for Marine Science and Technology on the waterfront in New Bedford, the Star
Store Center for the Arts in New Bedford, the Advanced Technology and Manufacturing Center in Fall River
and offices in New Bedford, Fall River and Fairhaven.
On February 2, 2010, the Massachusetts Board of Higher Education issued approval for UMass Dartmouth to
offer the Juris Doctor (J.D.) degree and establish the first public law school in the Commonwealth. Through the
donation of assets to the University of Massachusetts Foundation, Inc. (the “Foundation”), including the
facility, equipment, systems and furnishings from an existing private law school (Southern New England School
of Law or “SNESL”), the Dartmouth Campus admitted the first class of new students to the University of
Massachusetts School of Law in August 2010. The opening August 2010 head count enrollment for the first
year was 316, which was comprised of 165 new law students and 151 students continuing from SNESL. During
the first year, 51 of the 151 mid-stream students graduated with the J.D. degree and the bar pass rate of those
who took the Massachusetts Bar was within 15% of the average bar pass rate for Massachusetts law schools
accredited by the American Bar Association (“ABA”). The law school prepared a comprehensive self-study for
consideration of provisional ABA accreditation and received an ABA site visit; the final decision for provisional
accreditation was granted on June 12, 2012. Current downturns in admissions to law schools across the
country have resulted in a somewhat smaller than expected number of new students; the fall 2014 overall
enrollment was 215. Despite lower than expected law school enrollment, the Dartmouth Campus’s detailed
overall enrollment and revenue planning for a variety of admissions demand scenarios continues to ensure
institutional strength and provides for hiring and program development needed to ensure educational quality
and success. The law school has a public-service focus, with a 4 curriculum concentrating on civil and human
rights, legal support for businesses, economic justice and community law. The operating plan for the new law
school calls for increasing enrollment, recruiting faculty, and improving assets in order to prepare the school
for full accreditation from the ABA in 2015.
The Dartmouth Campus had 6,644 FTE undergraduate and 1,286 FTE graduate students enrolled in fall 2014.
During the 2013-2014 academic year, 9 undergraduate certificates, 1,276 bachelors and 537 advanced
degrees/certificates were conferred. The most recent edition of U.S. News and World Report’s (“U.S. News”)
“America’s Best Colleges” ranks UMass Dartmouth as the number two public regional university in New
England. The College of Engineering is listed among the best undergraduate engineering programs in the
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country, as are the online programs. The Dartmouth Campus, which is implementing its strategic plan,
UMASSDTRANSFORM2020, weaves the research, academic, creative and community service activities of
faculty and graduate students into the undergraduate experience and into the economic and cultural life of
southeastern Massachusetts and beyond. Areas of focus for the strategic plan include doctoral research
university status, marine science, law and public policy, K-12 schools, healthcare, economic development and
the creative economy. The University is undertaking the planning and development of a new classroom
building for the Charlton College of Business and has begun planning for a new $55 million academic building
on the campus.
Lowell Campus
The Lowell campus (“UMass Lowell” or the “Lowell Campus”) is a doctoral-level research university committed
to educating students for lifelong success in a diverse world and conducting research and outreach activities
that sustain the economic, environmental and social health of the region.
Located in the historic industrial City of Lowell, approximately 25 miles northwest of Boston, the campus spans
more than 125 acres along the Merrimack River on three campus clusters – North, South and East. The Lowell
Campus had a student body of 10,628 FTE undergraduate and 2,749 FTE graduate students in fall 2014. The
Lowell Campus offers four associate’s, 121 bachelor’s, 41 master’s and 34 doctoral degree programs through
the College of Fine Arts, Humanities and Social Sciences, the College of Sciences, the Francis College of
Engineering, the College of Health Sciences, the Manning School of Business and the Graduate School of
Education. The most recent additions to UMass Lowell’s degree inventory are Master’s and Doctoral degrees
in Pharmaceutical Sciences (offered in conjunction with UMass Worcester) and Bachelor’s and Master’s
degrees in Public Health. During the 2013-2014 academic year, 153 associate’s certificates, 2,228 bachelor’s
degrees and 1,308 advanced degrees/certificates were conferred.
Three major capital acquisitions have better positioned the Lowell campus to serve its students, faculty and
staff, while also serving to connect the campus community to the City of Lowell. In July 2009, UMBA
purchased the former Doubletree Hotel in the downtown section of Lowell and converted the property into
the UMass Lowell Inn & Conference Center (the “ICC”). Establishing the ICC created a multi-purpose property
that maintains hotel accommodations in the City, serves as housing for 400 students and creates high-quality
conference space that has improved the vitality of the Lowell Campus and the City of Lowell. In February 2010,
UMBA acquired the 6,500-seat Tsongas Arena from the City of Lowell. The renamed Tsongas Center at UMass
Lowell hosts hockey and basketball games, concerts, functions, University events and other community
activities. In January 2011, UMBA purchased the former St. Joseph’s Hospital in Lowell. University Crossing, as
the property is now called, offers an important connection point centrally located between UMass Lowell’s
North, South and East campuses and has become a vibrant hub for students and the community since its
opening in the summer of 2014.
Four additional buildings and two parking garages have been constructed on the Lowell campus since fall
2012. The 84,000 square-foot Mark and Elisia Saab Emerging Technologies and Innovation Center (the “Saab
Center”) opened on the North Campus in October 2012. The Saab Center was the first new academic building
constructed on the Lowell Campus in more than three decades. The state-of-the-art facility is home to
research in nanotechnology, molecular biology, plastics engineering and optics. The approximately $80 million
project was funded with $35 million from the Massachusetts Economic Investment Act of 2006, $5 million
from the federal government, bonds issued through UMBA, a $10 million grant from the Massachusetts Life
Sciences Center and contributions from industry and individual donors. The opening of the Saab Center was
followed by the opening of a new Health and Social Sciences Building on the South Campus in spring 2013. The
$40 million project was funded fully by bonds issued by the Commonwealth. In fall 2013, UMass Lowell
opened the $54 million University Suites 5 residence hall on East Campus. The project was financed through
UMBA bonds and provides suite-style housing for 472 students. A second suite-style residence hall, Riverview
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Suites, with housing for 510 students on South Campus, was leased by UMass Lowell from a private developer
beginning in fall 2013. In addition, two parking garages were constructed at a total cost of $40 million and
financed through UMBA bonds.
As of July 1, 2013, UMass Lowell athletics was officially elevated to Division I in all sports, with 15 sports
joining the America East Conference. The reclassification to full Division I status is a four-year process. The ice
hockey program has competed in Division I since 1983 and is a member of Hockey East.
In October 2013, the NEASC Commission on Institutions of Higher Education conducted a site visit evaluation
for the decennial reaccreditation of UMass Lowell. In the spring of 2014, UMass Lowell was reaccredited
through 2023.
Worcester Campus
The Worcester campus provides general and specialized medical education and engages in a comprehensive
program of basic scientific and clinical research. Located approximately 40 miles west of Boston and 50 miles
east of Amherst, the campus is home to the School of Medicine (the “Medical School”), the Graduate School
of Biomedical Sciences and the Graduate School of Nursing; a $450 million research enterprise, and conducts
public service initiatives throughout the Commonwealth. The University maintains certain relationships with
UMass Memorial Health Care, Inc., an independent Massachusetts not–for-profit corporation through the
arrangements presented in detail in the notes to the University’s financial statements.
Created in 1962, UMass Worcester provides medical education at an affordable cost to Massachusetts
residents, and graduate education to science and nursing students, offering incentives to graduates who
practice primary care and other medical disciplines in underserved areas in Massachusetts. Ranked 12th in
primary care education among the nation’s accredited medical schools and schools of osteopathic medicine by
weekly news magazine U.S. News & World Report in its 2015 edition of “America’s Best Graduate Schools,”
the School of Medicine also ranked 49th among medical schools based on research criteria.
Comprising Basic & Biomedical Sciences and Clinical & Population Health Research divisions, the Graduate
School of Biomedical Sciences trains students in their selected specialty area, while emphasizing a broad
background in the basic medical sciences in preparation for research with direct relevance to human disease.
The Graduate School of Nursing provides high quality masters and doctoral-level preparation for advanced
practice nurses and nurse educators.
To help address physician workforce shortages in the Commonwealth, the Worcester campus has begun to
increase the incoming class size for the Medical School over the next several years. In the fall of 2015, the
Worcester campus had approximately 1,100 FTE graduate and medical students enrolled in six master’s and
six doctoral degree programs, as well as approximately 530 post-graduate students enrolled in 59 medical
residency programs. During the 2014-2015 academic year, 233 advanced degrees were conferred. The
Worcester campus provides general and specialized medical care and engages in a comprehensive program of
basic scientific and clinical research that benefits the recipients of clinical services and contributes to the
national effort to understand, prevent and treat disease.
Since 1999, Commonwealth Medicine (CWM) has been a business unit of the Medical School and has
facilitated the process of sharing UMass Medical School’s expertise with public agencies. Today, as the health
care consulting division of the Medical School, we are fulfilling that mission in two ways:

Implementing a unique public university partnership model to provide enhanced services to other public
entities, such as state Medicaid agencies
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
Incorporating knowledge coming out of Medical School into the health care solutions we create for our
clients
Commonwealth Medicine developed the public university partnership model to facilitate collaborations with
state agencies. As a public entity, CWM is able to institute innovative health care initiatives and meet
aggressive cost savings targets on behalf of state clients. The public university model enables CWM to
maximize federal reimbursement programs and employ sophisticated cost avoidance methods to generate
significant savings for our clients. CWM’s deep understanding of federal processes and data exchanges, for
example, have enabled our financing experts to develop savings initiatives that have helped clients avoid
millions of dollars in costs.
The CWM team has years of experience forging and maintaining public-to-public partnerships. They now
advise other public universities that are interested in adopting similar models with their own state agencies.
They have also developed relationships with other academic institutions as part of a Public University
Medicaid Partnership initiative.
The results of WCCC are also 100% attributed to the Worcester Campus, Please see further description below
and in section 1.1.
Additional information about the University of Massachusetts System is available through the University’s web
site at http://www.massachusetts.edu/index.html.
RELATED ENTITIES
University of Massachusetts Building Authority
The Authority is an independent body politic and corporate and a public instrumentality of The
Commonwealth of Massachusetts, which was created by Chapter 773 of the Acts of 1960 of the
Commonwealth, as amended. The Authority was created with the general purposes of providing dormitories,
dining commons and other buildings and structures for use by the University of Massachusetts, its students,
staff and their dependents and other entities associated with the University as specified in the Enabling Act, as
requested by authority of the Trustees of the University (the Trustees). The 11 members of the Authority are
appointed by the Governor. Five of the members must be Trustees. Two of the other members must be
graduates of the University. Non-trustee members serve terms of approximately six years. Trustee members
serve as long as they are Trustees. There are currently 11 employees of the University assigned to the
Authority as staff. Building Authorities current outstanding debt and investment portfolio exceeds $3 Billion.
The selected audit firm will work with the CFO of the Building Authority for audit planning, access to all
applicable policies and guidelines, and required records, documents or spreadsheets of the Authority.
University of Massachusetts Foundation, Inc.
The University of Massachusetts Foundation, Inc. was established in 1950 to promote the growth, progress
and general welfare of the University, and to solicit, receive and administer gifts and donations for these
purposes. The endowment funds for all five of the University’s campuses are commingled into a pooled
investment fund and are tracked by the Foundation using unit value accounting. The Foundation’s pooled
endowment fund consists of 1900 individual funds established for a variety of purposes. At June 30, 2014, the
net assets of the pooled endowment fund were $757 Million. The Foundation Investment Committee,
Committee makes decisions regarding asset allocation and fund manager selection and evaluation. The
pooled endowment fund is 100% externally managed. The fund holds positions in over sixty different
investment vehicles including separately managed accounts, publicly traded mutual funds, exchange traded
funds and private pooled investment vehicles (hedge funds and private equity funds). The pooled endowment
fund is designed as a balanced portfolio. The portfolio accounting and pricing functions are out-sourced by
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the Foundation to BNY-Mellon. As the fund’s custodian, BNY-Mellon is responsible for trade settlements,
income collection, safe keeping of assets and calculation of portfolio and fund manager monthly performance
(investment returns).
The Investment Committee also manages a portion of the operating cash balances of the University that have
been transferred to the Foundation for investment purposes only. This portfolio is used by the University as
an intermediate term investment vehicle. The University Treasurer has the authority to request the return of
funds at any time in order to meet the operating needs of the University. The Intermediate Term Investment
Vehicle (also known as Fund 2) was valued at $296 Million. The portfolio is structured and managed similarly
to the pooled endowment fund, with a strong emphasis on liquidity. The portfolio is also 100% externally
managed and employs many of the same fund managers as the pooled endowment fund. BNY-Mellon
provides custody, portfolio accounting and performance measurement services for this portfolio as well.
The Foundation Controller is the audit liaison and Chief Accounting Officer of the UMass Foundation, reporting
to the Executive Vice President/Chief Operation Officer of the Foundation. As audit liaison, the Foundation
Controller will actively participate in audit planning, provide access to all applicable policies and guidelines,
furnish any required records, documents or spreadsheets, provide auditors with adequate working space and
monitor audit progress.
McGladrey LLP provides the Foundation tax compliance and consulting services. All required federal and state
tax filings, including annual UBTI tax returns, are prepared by McGladrey LLP.
Worcester City Campus Corporation
The consolidated financial statements include the accounts of Worcester City Campus Corporation ("WCCC")
and its subsidiaries, Worcester Campus Services, Inc. (“WCS”) and it’s 9 real estate holding corporation
subsidiaries: Worcester Campus Services – 122 Maple Street, Inc.,., Worcester Campus Services – 100 Century
Drive, Inc., Worcester Campus Services – 55 Lake Avenue, Inc., Worcester Campus Services – 365/373
Plantation Street, Inc., Worcester Campus Services – 333 South Street, Inc., Worcester Campus Services – One
Innovation Drive, Inc., Worcester Campus Services – 377 Plantation Street, Inc., and Worcester Campus
Services – 381 Plantation Street, Inc. Additionally, WCCC has a 501(c)(3) not-for-profit health care consulting
organization, UHealth Solutions, Inc. (“UHS”). WCCC was originally acquired by the Medical School in 1998 as
part of the transaction that formed UMass Memorial Health Care, Inc. WCCC is Section 501(c)(3) real estate
holding corporation and is a subsidiary of the University of Massachusetts Medical School and, accordingly, its
consolidated financial results are included in the School's consolidated annual financial results. There are four
distinct Boards of Directors for WCCC, UHS, WCS, Inc. and the 9 WCS sub-corporations, respectively.
WCCC operations include activities relating to the receiving, taking title to, holding, managing, developing,
improving, demolishing, renovating, leasing, or otherwise transferring, conveying, or dealing with any real or
personal property conveyed or transferred to it. These property assets consist of approximately 17 properties,
which were partially financed by bond liabilities of $317 million.
These properties primarily include real and personal property utilized at or in connection with the operations
of the University. WCCC also leases space to third parties, including to UMass Memorial Health Care, Inc., but
also other for-profit commercial tenants on a limited basis. WCCC has no employees, but through a service
agreement with the Medical School, obtains its management services for an agreed upon fee.
University of Massachusetts Dartmouth Foundation, Inc.
University of Massachusetts Dartmouth Foundation, Inc. (UMDF) was organized to raise funds to aid in the
development and improvement of the academic and educational environment of the University of
Massachusetts Dartmouth. The Foundation is promoted through educational and research programs directed
towards individuals, organizations (private and governmental) and the community. It operates primarily in
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Massachusetts and receives most of its revenues from donations and a matching incentive program sponsored
by the Commonwealth of Massachusetts. UMDF has total net assets of approximately $45 million with about
$6 million of operating support.
2.0 INSTRUCTIONS TO BIDDERS
2.1 IMPLEMENTATION SCHEDULE
Event
RFP Release Date
Bidder Questions Due
Respond to Bidder Questions
RFP Due Date via email
Submit 10 Hard Copies of Response
Vendor Presentations
Bid Award
Date and time
September 8, 2015
September 25, 2015 – 5:00 PM EST
October 9, 2015 – 5:00 PM EST
October 23, 2015 – 2:00 PM EST
October 26, 2015 – 5:00 PM EST
November 17 and November 20, 2015
November 30, 2015 (Approximate)
The University may change these dates at it sole discretion.
2.2 PROPOSAL DEADLINE
Proposals must be received via email to procurement@umassp.edu on or before 2:00 p.m. EST, on Friday,
October 23, 2015. The proposal email mail box will be closed at this time so it will not be sufficient to email
the proposal with an email sent time of 2:00pm EST. The emailed Proposal must be RECEIVED by 2:00pm
EST.
The email subject line must read: “UP16-DJ-0901 RESPONSE” and must have attached files, which contains the
bidder’s response including completed forms.
The University recommends sending the email with acknowledged receipt. It is the bidder’s responsibility to
insure that its proposal is received in its entirety and without exception by the bid closing date and time. Any
bid received after the date and time specified will not be accepted, read, or evaluated.
The University will not be responsible for computer, server, internet or any technical problems, errors,
delivery delays, or failures beyond its physical control. Bidders are advised to send their proposal responses
prior to the bid deadline to compensate for potential Internet routing delays in email transmission.
2.2.1 Email Response - File Size Limitations
The procurement@umassp.edu mailbox is capable of receiving emails up to 25 MB in size. If your
response is larger than 25 MB, please split your response and send in 2 or more separate emails and
indicate in the subject line that you are sending multiple emails, e.g., UP16-DJ-0901 RESPONSE, 1 of 2.
All emails containing your bid response must be received prior to the proposal deadline.
2.2.2 – Hard Copies of Bid Response
Additionally, the University is requesting 10 hard copies of you bid response. The hard copies must be
received at the following address on or before 5:00 p.m. EST, Monday, October 26, 2015:
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University of Massachusetts
333 South Street, Suite 450
Shrewsbury, MA 01545-4169
Attention: Don Joubert, Director of Procurement and Administration.
Please make sure your package is clearly marked:
UP16-DJ-0901 RESPONSE – Hard Copies – Attention Don Joubert
2.3 QUESTIONS
Bidders may submit written questions via e-mail to procurement@umassp.edu on or before 5 pm EST, on
Friday, September 25, 2015. The email subject line must read: “UP16-DJ-0901 QUESTIONS”. The University
will compile all questions and respond via addendum and will email responses to all potential bidders by 5 pm
EST, on October 9, 2015.
No telephone calls will be entertained. Prospective bidders are prohibited from obtaining information about
this proposal from any University personnel. Inquiries received after the specified date and time will not be
accepted.
2.3.1 SAMPLE DOCUMENTS
Samples of the following audit documents have been posted on the University’s Web site at the following
URL: https://www.umassp.edu/procurement/bids/university-independent-external-audit
FY 2014 University Annual Financial Report
FY 2014 UMass A-133 Report
FY 2014 MA OSFA Compliance Attestation Report
FY 2014 University of Massachusetts Foundation, Inc. Financial Statements
FY 2014 University of Massachusetts Building Authority Financial Statement
FY 2014 Worcester City Campus Corporation Consolidated Financial Statements
FY 2014 UHealth Solutions, Inc. 403(b) Plan Financial Statements
FY 2014 UMass Memorial Foundation, Inc. Financial Statements
FY 2014 University of Massachusetts Dartmouth Foundation, Inc.
Audit Schedule FY15
Please review these sample documents prior to submitting any questions.
documentation will be provided upon request.
Other audit related
2.4 AMENDMENTS TO PROPOSAL
Answers to bidder questions and other changes to the RFP document will be emailed to all known bidders and
posted on the University’s website at the following location:
https://www.umassp.edu/procurement/bids .
It is the bidder’s responsibility to periodically check this website for any possible Amendments to this RFP.
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2.5 CONTACT INFORMATION
Except as may be noted otherwise herein, the issuing office and sole contact for the coordination and
dissemination of all information regarding this RFP is:
Don Joubert, Director of Procurement
University of Massachusetts President’s Office
333 South Street, Suite 450
Shrewsbury, MA 01545
Email: djoubert@umassp.edu
2.6 ACCEPT/REJECT PROPOSAL
The University reserves the right to reject any or all proposals, wholly or in part; to waive technicalities,
irregularities, and omissions; to make the award in a manner deemed to be in the best interest of the
University; and to correct any award erroneously made as a result of a clerical error on the part of the
University.
2.7 WITHDRAWAL OF PROPOSAL
Proposals may be withdrawn at any time prior to the proposal receipt deadline date and time. Once the
proposal receipt deadline has passed all proposals become the property of the University.
2.8 PROPOSAL RESULTS
Complete records of all proposals and awards are maintained in the University of Massachusetts President’s
Office Purchasing Department. All bid documents will be made available for public examination after the bid
evaluation committee has completed its bid review, selection and award.
2.9 NO UNIVERSITY OBLIGATION
This RFP in no manner obligates the University to the eventual purchase of any products or services described,
implied, or which may be proposed, until confirmed by written agreement, and may be terminated by the
University without penalty or obligation at any time prior to the signing of an agreement.
2.10 AUTHORIZED SIGNATURE
The proposal offer shall be signed by an officer who is authorized to make such commitments for the bidder.
Please complete bidder information in Section 9.0.
2.11 EXPENSES
Expenses for developing and presenting proposals shall be the entire responsibility of the Bidder and shall not
be chargeable to the University. All supporting documentation and manuals submitted with this proposal will
become the property of the University unless requested by the Bidder, in writing, at the time of the
submission, and agreed to, in writing, by the University.
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3.0 UNVERSITY TERMS AND CONDITIONS
The terms and conditions that will apply to the submission of proposals to the University’s evaluation of the
proposal offers, and to the award of the contract should be reviewed carefully to ensure full responsiveness to the
RFP.
3.1 PROPOSAL FORMAT
All proposals shall be submitted as Best and Final Offers. Bidders will not be allowed to make material
alterations to their proposal offers after the proposal opening. Each bidder shall include in their written offer
all requirements, terms and conditions they may have, and shall not assume that an opportunity will exist to
add such requirements, terms or conditions after the proposal opening. Bidder’s terms or conditions that are
deemed unacceptable by the University may be the basis for the University’s rejection of the proposal.
3.2 PROPOSAL MATERIALS
All material submitted in response to the RFP shall become the property of the University upon submission
and will be considered as part of this RFP.
3.3 MASSACHUSETTS PUBLIC RECORDS LAW
Access to University records is made in accordance with the Massachusetts Public Records Law, M.G.L. c. 66, s.
10. All Responses received are subject to M.G.L. c. 4, s. 7, ss. 26, and M.G.L. c. 66, s. 10 regarding public access
to such documents. Statements or endorsements inconsistent with those statutes will be disregarded. The
University will withhold the Responses or sections of Responses until such time that they have been opened.
The University will make available the documents within those Responses only upon the finalization of those
records.
3.4 RFP INTERPRETATION
Interpretation of the wording of this document shall be the responsibility of the University and that
interpretation shall be final.
3.5 ADDENDUM
Any addendum issued to Bidders prior to the proposal opening date shall include an addendum
acknowledgement section. Since all addenda shall become a part of the proposal, all addenda must be signed
by an authorized Bidder representative and returned with the proposal. Failure to sign and return any and all
addendum acknowledgements will be grounds for rejection of the proposal response.
3.6 PROPOSAL MODIFICATION
Any exceptions/ additions/ alterations to the terms and conditions contained herein must be included in the
bidder’s proposal response. Failure to provide the required data to allow for evaluation of the bidder’s
response to the RFP, or failure to follow and complete the RFP proposal format and accompanying documents
will be grounds for rejecting the proposal offer. The University reserves the right to reject any proposals that
alter the terms specified in the RFP.
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3.7 CONFIDENTIALITY
From the date of issuance of the RFP until the opening date, the Bidder must not make available or discuss its
proposal, or any part thereof, with any employee or agent of the University. The Bidder is hereby warned that
any part of its proposal or any other material marked as confidential, proprietary, or trade secret, can only be
protected to the extent permitted by Commonwealth of Massachusetts laws.
3.8 PERIOD OF FIRM PROPOSAL
All proposal offers must remain in effect for a minimum period of 180 days following the RFP opening date in
order to allow for sufficient time for evaluation, approval, and issuance of award notice. The successful
bidder’s offer will remain firm for the duration of any resulting award and extensions.
3.9 PRE-AWARD NEGOTIATIONS
After the proposals are opened, but prior to award, the University may elect to conduct negotiations with the
highest ranked proposal respondents for purposes of:




Resolving minor differences and information
Clarifying necessary details and responsibilities
Emphasizing important issues and points
Receiving assurances from respondents
Selection may be made without further discussion, negotiations or bidder’s presentations; therefore, bidder
shall offer the most favorable terms in response to this RFP. Bidder must demonstrate an understanding of
the scope of service to be provided and the ability to accomplish the tasks set forth. Bidder shall include
information that will enable the University to determine the bidder’s overall qualifications. The University
reserves the right to request additional information or clarification on any matter included in the proposal
response, to enable the University to arrive at the final award decision.
3.10 Vendor Presentations
Some vendors may be invited to the University’s Shrewsbury MA location to give an oral presentation.
The presentations are tentatively scheduled for November 17th and 20th at the following location:
University of Massachusetts President’s Office
333 South Street, Suite 450
Shrewsbury, MA 01545
Conference Room: TBD
If special accommodations are required in order to attend a site visit, please contact Don Joubert at
djoubert@umassp.edu no later than three (3) days before the event.
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4.0 Contract
4.1 CONTRACT TERM
The contract term shall be for three Fiscal Year audits for the years ending June 30, 2016, June 30, 2017, and
June 30, 2018 with the contract engagement period beginning January 1, 2016 (Approximate), and ending
upon completion of the fiscal year 2018 audit. Thereafter, the contract may be renewed for up to two (2)
additional one-year periods based upon the mutual agreement of the contracting parties. Contract prices
shall remain firm throughout the contract term and any renewals thereto.
4.2 CONTRACT TERMINATION
The University may terminate the audit contract at any time for any reason upon ten days' notice, given in
writing. The University shall not be liable for any expenses incurred by the Contractor after said ten-day
period. Said notice shall be deemed given upon mailing, postage prepaid, by U.S. certified mail to the
Contractor's address as stated in the Contract to be signed. The Contractor will use its best effort not to incur
any reimbursable expenses after receipt of said notice of termination. Upon said termination, the Contractor
will deliver to the University all schedules, reports, data, and other documentation prepared under the
Contract to said date of termination within twenty days of such notice.
4.3 CONTRACT STATUS
The response to this RFP will be considered as the bidder’s offer to contract. Final negotiations on the offer
that receives the highest evaluation by the University may be conducted to resolve any minor differences and
informalities that do not materially alter the offer.
4.4 CONTRACT FORMAT
The resulting University Award will incorporate the University Of Massachusetts Contract Terms and
Conditions, a sample copy of which is enclosed as Appendix A. This RFP, any addendum, and the bidder’s
response thereto, all additional agreements and stipulations, and the results of any final negotiations will
constitute the final contract.
4.5 CONTRACT MODIFICATIONS
Any changes to the contract must be agreed to, in writing, by both parties prior to their execution.
4.6 CONTRACTOR ASSIGNMENT OF SUB-CONTRACT
The Contractor shall not assign or in any way transfer any interest in the Contract without the prior written
consent of the University, nor there be any subcontract of services without the prior written approval of the
University.
4.7 RECORDS, WORKPAPERS AND INFORMATION
The Contractor agrees not to disclose any information received from the University to a third party without
the express written consent of the Director, or as ordered by a court of law. All records and workpapers will
be retained by the Contractor for a period of seven years and will be available for inspection by any authorized
representative of the University. All workpapers prepared by the Contractor shall be property of the
Contractor but will not be disclosed by the Contractor to a third party without the express written consent of
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the Director. In addition to the Director, the other current authorized representatives are those persons
designated by Massachusetts Executive Order No. 195:
The Governor or his designee, the secretary of administration and finance, and the state auditor or his
designee shall have the right at reasonable times and upon reasonable notice to examine the books, records
and other compilations of data of the Contractor which pertain to the performance of the provisions and
requirements of a University Audit Contract.
As requested, the Contractor will provide the Director with a copy of all Contractor-developed documentation,
which describes the internal controls and operating procedures of the area under review.
4.8 FUNDING AND FISCAL YEAR APPROPRIATIONS
The obligation of the University under a contract for any subsequent fiscal year following the fiscal year in
which the contract is executed, is subject to the appropriation to the University of funds sufficient to discharge
the University's obligation which accrues in such subsequent fiscal year, and to the authorization to spend
such funds for the purposes of the Contract.
4.9 CONFLICT OF INTEREST
No officer or employee of the Commonwealth shall participate in any decision relating to the Contract which
affects his/her personal interest or the interest of any corporation, partnership, or association in which he/she
is directly or indirectly interested.
5.0 Evaluation Criteria
A Selection Committee will review the bids. The award will be made to the bidder who, in the opinion of the
Selection Committee, offers the best overall package.
At a minimum, the bidder must satisfy the following criteria




Satisfaction of RFP requirements.
Firm’s Industry Experience and Staffing Profile.
Audit Work Plan and ability to meet University Audit Report Deadlines.
Pricing and Fees.
6.0 Bid Requirements
6.1 Company Profile
6.1.1
Please provide a statement describing the extent of you firm's total business and strengths with providing
audit services to higher education institutions. Please include a list of other higher education institution
clients and contact names associated with those institutions, and a description of the type of audit
services provided. Please provide a copy of your firm’s most recent Quality Review Report.
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6.1.2
Please provide the total number of professional employees in firm.
6.1.3
Please specify the location of offices from which the work is to be managed and the number of partners,
managers, supervisors, seniors and other professional staff employed at the offices.
6.2 Audit Work Plan
For each of the annual audits and services, please provide a work plan that includes the following
information:

A description of the annual audit planning process to be followed

Describe the firms approach to assessing internal control risk for each of the organizations

Explain your standard audit approach to the review of automated systems and their security

Describe how your firm intends to minimize the impact of transitioning to a new audit firm

Provide a sample of your standard engagement letter
6.3 Audit Team Staffing Information
Please identify senior personnel by name and title to be assigned to the bidder's audit team including
resumes or a summary of each individual’s professional expertise and experience. Identification of office
location of all assigned staff is required. Include in your response the OMB Circular A-133 experience and
training of partners, managers and other staff who will be responsible for the audit.
6.4 Additional Related Audit Activity
Additional related audit activity may be requested by the firm or the University, but must be approved by
the University's Director of Audit. The University periodically requires additional limited audits in the
form of "written assurances” such as Bond Consent Letters. Firms are requested to provide a schedule of
fees for such additional audit activity.
6.5 Access to Firms Accounting Research Software
The University requests access to your firms accounting research software. Please specify the name of
your software and confirm that you will provide access to this software.
7.0 Pricing
Please complete Attachment A – Cost Proposal
Bidders must provide




The not-to-exceed fee for performing the audit for each audit year
The not-to-exceed amount for out-of-pocket expenses by year for each audit
The estimate of personnel hours required and hourly rate by level of personnel by year for each
audit and other consultation and audit services, e.g., comfort letters for bond offerings
For OSFA, fee quoted should be for all 4 campuses
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8.0 References
Please provide three (3) references that have contracted with the bidder’s firm in the past three years.
References provided by bidders must agree to be interviewed by representatives from the University. Bidders
should provide the contact name, telephone number and a brief description qualifying the reference given.
Contact Name
Telephone Number
Qualifying Description
1
2
3
9.0 BIDDER INFORMATION AND SIGNATURE
Please complete the information below.
BIDDER NAME
ADDRESS 1
ADDRESS 2
CITY
STATE
ZIP
TELEPHONE
EMAIL
Authorized Signature: ________________________________________________________
END OF RFP UP16-DJ-0901
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