Looking for Auditing Services for MLK Charter School

Background

Martin Luther King, Jr. Charter School of Excellence (MLKCSE) is a Massachusetts public Commonwealth charter school that serves 360 students in grades K-5. The school operates under a charter granted by the Massachusetts Board of Elementary and Secondary Education and receives funding through state and federal sources. The goal of this contract is to procure independent auditing services for the school's financial statements, which are required to comply with generally accepted auditing standards and government auditing standards. Additionally, the audit will include the Friends of Martin Luther King Jr. Charter School, a 501(c)(3) non-profit entity that supports fundraising for the charter school.

Work Details

The selected firm shall provide the following services: Conduct an annual financial statement audit in accordance with Generally Accepted Auditing Standards (GAAS), Government Auditing Standards (GAGAS), Generally Accepted Accounting Principles (GAAP), and Massachusetts Department of Elementary and Secondary Education (DESE) guidelines. Prepare audited financial statements including the Statement of Net Position, Statement of Activities, Statement of Cash Flows, and Notes to Financial Statements. Issue an Independent Auditor’s Report. Perform compliance audits under Uniform Guidance if applicable, prepare Schedule of Expenditures of Federal Awards (SEFA), conduct internal control testing, and prepare a management letter identifying weaknesses and recommendations. Present audit results to the Board of Trustees and school leadership, provide required reports to DESE and other oversight agencies, assist with filing deadlines, and provide consultation on accounting standards throughout the year. Deliverables include draft and final audited financial statements, management letter, single audit reports, data collection form, and electronic/hard copies as requested.

Period of Performance

The initial contract shall be for one (1) year with an option to renew annually for up to five additional years based on satisfactory performance.

Place of Performance

The services will be performed at Martin Luther King, Jr. Charter School of Excellence located at 285 Dorset Street, Springfield, MA 01108.

Bidder Requirements

Proposing firms must be licensed Certified Public Accountants in Massachusetts with experience auditing Massachusetts public charter schools or public entities. They must be independent and free from conflicts of interest. Proposals must include a firm profile detailing reputation, office locations, years in operation, number of professional staff; relevant experience including past audit services provided to charter schools; three to five references; a detailed fee structure; independence statement; confirmation of compliance with Massachusetts procurement laws; certification of non-collusion; W-9 form; and business registration information.