Request for Proposals. Annual Audit Services For the fiscal years ending December 31 st :

Transcription

1 Request for Proposals Annual Audit Services For the fiscal years ending December 31 st : Proposals will be received up to and including close of business on December 23, 2011 and should be addressed to; Cathy Snyder, CFO/CAO c/o United Way of Kitchener Waterloo and Area, Marsland Centre 20 Erb Street West, Suite 801 Waterloo, ON N2L 1T2 Information Meeting: A briefing session will be held, if required, by appointment, on December 7 or December 15, Following review of the proposals, all firms will be contacted by March 31, Thank you. Cathy Snyder, BA, CMA, FCMA CFO/CAO

2 Request for Proposals Annual Audit Services Due: December 23, 2011 Deliver to: United Way of Kitchener Waterloo and Area Attn: Cathy Snyder, CFO/CAO Marsland Centre 20 Erb Street West, Suite 801 Waterloo, ON N2L 1T2 Table of Contents Section Contents Page # I Introduction 2 II Company profile 2 III Timelines 3 IV Scope of Services 4 V Requirements 4 VI General 5 VII Contractual Requirements 6 VIII Vendor Selection 7 Proposal Form & Schedule of Fees (template) 8 1

3 United Way of Kitchener Waterloo and Area Request for Proposals November 21, 2011 I. Introduction United Way of Kitchener Waterloo and Area ( United Way KW ) is requesting proposals from qualified local vendors with respect to annual audit services for the fiscal year beginning January 1, 2012, which include but are not limited to: financial statement preparation, which may include assistance in the preparation of journal entries; preparation of the annual charity return and possible assistance in the preparation of other tax/compliance reporting; reporting, including the Auditor s Report and the Management Letter; attendance at the draft audited financial statement review meeting of the Finance & Audit Committee and at the Annual General Meeting; other meeting attendance and services as may be requested and as agreed. II. Organization profile United Way KW has a 70 year history in the Kitchener Waterloo area. Founded as Kitchener Waterloo Federated Charities in 1941, and provincially incorporated, the organization has grown from revenue of approximately $160,000 to over $5 million and has become the largest non-government funder of charitable programs in the Kitchener Waterloo community. United Way KW s vision is Together Strengthening the Community for All. The organization, a registered charity best known for its annual fundraising campaign, held mainly through workplaces in the Kitchener Waterloo area, is working to accomplish this vision through community impact work which includes (but is not limited to): funding local charitable programs; providing staff and financial resources by partnering/ participating in local initiatives such as Capacity Waterloo Region, The Alliance for Children and Youth and others, leading community engagement and getting to root causes. From a senior leadership perspective, the organization s structure includes an independent Board of Directors to whom the Chief Executive Officer reports and the CFO/CAO who reports to the CEO. Committees of the Board include: Finance and Audit Committee, Governance Committee and Human Resources Committee. The organization is then made up of four areas: resource development, community development, database administration and administration support. The following departmental descriptions concentrate on the financial activities of the departments. The Resource Development ( RD ) area looks after the fundraising activities of the organization, with the annual campaign being the major activity of the department. In addition to the annual campaign activities, Resource Development Officers ( RDO s ) maintain ongoing relationships with key workplace personnel, develop new business opportunities (which include campaign fundraising, sponsorships and other revenue generating and/or community impact opportunities), and assist with donor stewardship. The RD 2

4 team is assisted by two volunteer committees: the Campaign Cabinet and the Leadership Cabinet. One of the areas the Community Development ( CD ) area is responsible for is the distribution of the funds to the community through a stringent process. Eligible organizations submit funding applications every three years and organizations to which funds are given must provide progress reports periodically throughout the funding periods. Overall funding is dependent on availability of financial resources and is determined on an annual basis. The Database Administration area is responsible for ensuring all information pertaining to fundraising is entered into the database system ( The Raisers Edge ). Pledges and payments received are entered into the database and receipts are issued as appropriate (donations received from workplaces utilizing payroll deductions are receipted by the workplace on the employees T4 s). Pledge payments are tracked against the pledges and a receivables process is in place to attempt to minimize pledge loss. The RD and Database Administration teams work closely to ensure database accuracy in entry and reporting. The Administration Support team looks after the following areas: facilities, executive administrative support, marketing and communications, accounting, human resources and technology. Campaign data entry activities are separate from the accounting function. From an accounting perspective, United Way KW utilizes Simply Accounting (reconciling the cash entries in the Raisers Edge database to the bank and recording necessary entries into Simply Accounting). Receipts are recorded as revenue in the year received. (NB - The organization adheres to United Way/Centraide Canada s Transparency and Accountability in Financial Reporting (TAFR) guidelines and during 2011 has recognized the removal of the matching principle and therefore no longer books deferred revenue or receivables for the campaign). General ledger accounts are reconciled monthly, with a complete review completed quarterly. Internal financial statements are completed on a monthly basis. The Finance & Audit Committee is provided with a copy of the internal statements on a monthly basis, and the Board on a quarterly basis. The organization maintains reserves and cash balances are invested in accordance with the Investment Policy. Investments are currently held at RBC Dominion Securities. United Way KW also has an endowment fund, which is held at The Kitchener and Waterloo Community Foundation ( KWCF ). KWCF reports on the fund s balance and therefore United Way KW provides note disclosure of the fund only. Key Personnel The key contact for information you may seek in preparing your proposal: Cathy Snyder CFO/CAO , ext 254 3

5 Requests for additional information, visits to our office, review of relevant material, information, etc. should be coordinated with Cathy Snyder at the number above. III. Timelines United Way KW reserves the right to modify this timeline at any time. Should the due date for proposals be changed, all firms sent a request for proposal shall be notified. Request for Proposals released November 21, 2011 Optional on-site inspection December 7/15, 2011 Proposals due date December 23, 2011 Meeting with Finance & Audit Cttee February 2012 Approval by Board March 2012 Notification to successful firm March 2012 Notification to all firms By March 31, 2012 Contract term commencement AGM date TBA May 2012 Other meetings As required IV. Scope of Services The successful firm will be required to provide the following services: An audit of the organization s financial records for the fiscal periods under this RFP and the expression of an audit opinion upon completion (please provide a sample of the typical audit letter associated with the audit of a not-for-profit organization which anticipates no difficulties or issues connected with the audit) Financial statement preparation assistance which may include: preparation of adjusting journal entries (in consultation with management), financial statement formatting Preparation of the organization s registered charity return Additional services as they pertain to the audit V. Requirements As part of the proposal, all proposals must include the following: Completion of the proposal in accordance with requirements A profile of the firm, including experience in other similar projects, clients serviced locally of a similar business nature, resource and support services available locally and outside of the area which may pertain to United Way KW business, an explanation as to why the firm should be selected as the successful organization including strengths deemed to be appropriate for this project Experience in providing services to not-for-profit organizations of a similar size and to other similar organizations A listing of project management methods used in similar projects which may lessen the demand on internal resources or decrease costs The address of the office which would be responsible for the project, and the names and resumes of the staff who would be responsible for the execution of the project Three references, including company/organization name, contact name, and contact phone number, as well as a brief description of services performed 4

6 Anticipated on-going costs for a period of two years following the initial project year (NB Anticipated annual fee for each year of the five years for the completion of the audit of the financial statements is appreciated) Budgeted hours for audits and rates Hourly rate for accounting services, if any, associated with audit Notation of any additional services covered in the fee quote Confirmation of availability of appropriate staff during the project period required A list of resources and support services readily available Commitment to the terms of the request for proposal You may be contacted for further information on points where clarification is required. VI. General The following are general points to be considered: The award is subject to recommendation by the Finance & Audit Committee and approval by the Board of Directors All firms submitting a proposal for consideration, must disclose any conflict of interest in the proposal, or immediately upon discovery of a conflict of interest during the proposal process The proposal is irrevocable and is open until close of business on December 23, 2011 United Way KW reserves the right to withdraw, at its discretion, this proposal at any time, and shall not be liable for any cost incurred by the bidder as a result of this withdrawal United Way KW reserves the right to reject, at its discretion, any or any part of the proposal and also reserves the right to award assignment based on other factors than solely lowest fee structure Fees shall be quoted exclusive of HST. HST must be added to the total of the amount proposed No adjustments to the cost proposed will be accepted after the proposal has been received United Way KW will incur no costs in connection with the providing of materials or work related to this request for proposal. A confidentiality agreement will have to be signed prior to any materials being provided Two copies of the proposal must be supplied. United Way KW may request additional copies of the proposal subsequent to close of business on December 23, Electronic submissions will be accepted (please send in confidence to csnyder@uwaykw.org). Facsimile proposals will not be accepted All proposals submitted become the property of United Way KW No work may be assigned by the firm without prior written consent from United Way KW United Way KW reserves the right to terminate this agreement should the nature of its operations change or any operations currently being conducted cease to exist, which would result in services no longer being required, or in a material change in the nature of the organization United Way KW reserves the right to obtain clarification on any aspect of the proposal. This clarification will not alter the proposal or cost structure provided 5

7 Meetings requested by United Way KW will be conducted at the Waterloo office. United Way KW will not accept responsibility for costs incurred in connection with firm staff attending these meetings United Way KW will safeguard the confidentiality of all proposals VII. Contractual Requirements Indemnity The successful bidder shall indemnify and save harmless United Way KW, its directors, officers, employees and agents, against and from all actions, causes of action, interest, claims, demands, costs, damages, expenses including defense costs or loss which United Way KW may bear, suffer, incur, become liable for or be put to by reason of any damage to property or injury or death to persons by reason of, arising out of or in consequence of breach, violation of non-performance by the successful bidder of any provision of this agreement, or by reason of or arising out of the use of the premises or in connection with the work covered by this agreement, or by reason of or arising out of any act, neglect or default or omission by the successful bidder or of any of its officials or employees or any other person or persons, in, on, or about the premises. The rights to indemnity contained in this paragraph shall survive any termination of this agreement, anything in this agreement to the contrary notwithstanding. Insurance In connection with this indemnification by the firm, the firm agrees to purchase and maintain in force at its expense, including the payment of all deductibles, a policy of Professional Liability Insurance, acceptable to United Way KW in the amount of not less than $1,000,000, and to deliver a Certificate of the Policy originally signed by an authorized agent of the insurance company issuing the policy and a Certified copy of the Policy to United Way KW upon the firm s execution of this agreement. It is expressly provided that the Policy is: Not to be construed as a limit on the liability of the vendor in provision of goods or the performance by the vendor of its services under this agreement Notwithstanding anything to the contrary contained herein, kept in force and effect for a period of time ending no sooner than one (1) year after completion of the project To be in a form and with an insurance company acceptable to United Way KW VIII. Firm Selection All proposals will be reviewed by United Way KW senior staff and presented to the Finance & Audit Committee. Bidders may be asked to make an oral presentation to the Executive Director or her/his designate, and/or a member or committee of the Board of Directors. It is expected that the vendor staff completing the project will be involved in the presentation. Selection criteria will include but will not be limited to: History of the vendor Locality of the firm Technical expertise Experience and qualifications of staff assigned to the project Compliance with the information requirements outlined in the RFP 6

8 Knowledge of the sector in which United Way KW conducts business and the environment from which its members/donors/stakeholders come Listing of clients, particularly those in the not-for-profit sector References (including name and phone number of contact) Resources and support services available Fees proposed Presentation to senior staff and/or a selection committee It is expected that the appointment will be approved by March 31, 2012 All requests for additional information and/or clarification in connection with the RFP must be sent via to csnyder@uwaykw.org. 7

9 United Way of Kitchener Waterloo and Area PROPOSAL FORM Closing Date: December 23, 2011 Cathy Snyder, CFO/CAO United Way of Kitchener Waterloo and Area 20 Erb Street West, Suite 801 Waterloo, ON N2L 1T2 Subject: Request for Proposal Dear Cathy We, the undersigned, agree to provide services in accordance with the specifications provided for in the request for proposal, at the costs outlined below/in the attached. Company Contact Name Title Address City Province Postal Code address Telephone number Extension Schedule of fees: 2012* $ 2013* $ 2014* $ 2015 $ 2016 $ *Required Additional costs which may be charged include: (example: supplies, printing, travel) (please list) Yours truly, Name Firm 8

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