SouthEastern Connecticut Enterprise Region
SECTER
19-B Thames Street • Groton, CT 06340
Telephone: 860-437-4659
Facsimile: 860-437-4662 • E-mail: [email protected]
The Southeastern Connecticut Enterprise Region Corp. (seCTer) invites your organization to submit a
proposal for the preparation of its yearly audited financial statements and related filings for a three-year
period beginning with the 2017 fiscal year ending June 30, 2017.
seCTer is a 501(c)(3) organization. seCTer’s mission is to stimulate and support economic development
and diversification within southeastern Connecticut and adjacent areas of Rhode Island. seCTer’s audit
report and form 990 from the last fiscal year are attached
Programs include:
 Connecticut Procurement and Technical Assistance Center
 Regional Revolving Loan Fund
 Southeastern Connecticut Fisheries Loan and Technical Assistance Program
 Connecticut Small Business Lending Partner Program
 Connecticut Small Business Express Program
 Department of commerce EDA CEDS (Comprehensive Economic Development Strategy) Program
seCTer serves clients each year through funding from grants, contracts, and fees. It receives federal
government funding from the Defense Logistics Agency and the Department of Commerce Economic
Development Agency; state government funding from the Connecticut Department of Economic and
Community Development; grant funding; and, funding from local municipalities. seCTer has nine
employees located in five office across the state. Annual revenue has ranged from $1,085,949 and
$1,111,930 over the past two years.
The audit is to be performed in accordance with generally accepted auditing standards; the standards for
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the
United States; the Government Accounting Standards Board Statement No. 34; the Federal Single Audit
Act Amendments of 1996; the State of Connecticut Single Audit Act; and the provisions of OMB Circular
A-133The Scope of
Work being requested incudes:
1.
Audit of annual financial statements
2.
Federal Single Audit
3.
State Single Audit – if required (please price separately)
4.
Preparation of IRS form 990
A public-private partnership for economic development serving southeastern Connecticut
5.
Management letter
All of the above must be completed within 120 days of the end of each fiscal year, except for year one of
this contract, for which the audit must be completed within 120 days of contract award. seCTer requires
that a meeting between the auditors and its designated board and staff members be held to discuss a
draft version of the financial statements, and that the audit firm presents the final financial statements,
including any findings and recommendations, to seCTer’s Audit Committee and Board of Directors. The
auditor shall provide an original, unbound audit; 10 bound copies of the reporting package; and, one
electronic copy of the reporting package.
All proposals must include:
a) Evidence of the firm’s qualifications to provide the above services;
b) Background and experience in auditing nonprofit clients;
c) The size and organizational structure of the auditor’s firm;
d) A statement of the firm’s understanding of work to be performed, including tax and non-audit
services and retention of audit-related work papers;
e) A proposed timeline for fieldwork and final reporting;
f) The proposed fee structure for each of the three years of the proposal period, including whatever
guarantees can be given regarding increases in future years, and the maximum fee that would be
charged;
g) A description of your billing rates and procedures for technical questions that may come up during
the year, or whether these occasional services are covered in the proposed fee structure;
h) The names, credentials and brief biographies of the partner, audit manager, and field staff who
will be assigned to seCTer’s audit;
i) A copy of your firm’s most recent peer review report, the related letter of comments, and the
firm’s response to the letter of comments; and,
j) References and contact information from at least three comparable nonprofit audit clients.
Evaluation Criteria will include:
a) That the audit firm is independent and licensed to practice in Connecticut.
b) The firm’s past experience and performance on comparable government engagements.
c) The quality of the firm’s professional personnel to be assigned to the engagement.
d) Experience with the preparation of federal and state financial assistance and related reports.
e) Audit approach.
f) Price. Cost, however, will not be the primary factor in selection of an audit firm.
g) Favorable consideration will be given to qualified firms that have an office in seCTer’s service area.
Your proposal must be received by 4:30 P.M., June 1, 2017. Please send your proposal to Patricia Glynn,
Southeastern Connecticut Enterprise Region Corp., 19-B Thames Street, Groton, CT 06340. The Audit
committee will review all proposals and make a recommendation regarding the choice of auditors to the
full board of directors in July, 2017.
If you have any questions or would like further clarification of any aspect of this request for bid, please
contact Patricia Glynn at 860-437-4659 ext. 200 or [email protected]. I look forward to receiving your
proposal.
Sincerely,
Nancy M. Cowser
Executive Director
Encl: Southeastern Connecticut Enterprise Region Corp audit report and Form 990 for last fiscal year