Agenda Item No. ____________

Washburn University Board of Regents



SUBJECT: Request for Proposal Annual Audit Services for Washburn University





BACKGROUND:





On November 27, 2000, a Request for Proposal was issued to fifteen accounting firms capable of providing annual audit services for Washburn University. A pre-proposal conference held on December 5, 2000 was attended by two of the firms receiving an RFP.





DESCRIPTION:





On December 20, 2000, the University received proposals from three firms: Berberich Trahan & Co., P.A.; Baird, Kurtz & Dobson; and KPMG. The Request for Proposal issued was written for annual audit services for the following audits:



General purpose financial audit;



OMB Circular A-133 compliance audit;



Living Learning Center bonds Arbitrage rebate calculations and continuing disclosure information;



Tax reporting and compliance (IRS From 990-T); and



KTWU financial audit for the Corporation for Public Broadcasting.





The proposals were evaluated by an evaluation committee based on: governmental and college and university client base; experience with A-133 audits; continuing professional education programs for staff; experience with revenue bonds and bond reporting requirements; plan for conducting the required audits; qualifications of audit staff to be assigned to the audits; experience conducting audits of clients with legacy systems; peer review evaluations; responsiveness to proposal requirements; time allocated to complete the audits; and fees proposed for completion of the audits.





In addition to the criteria previously stated, the costs and hours proposed by the firms were analyzed in detail to ensure comparability for all proposals. The annual cost to the University is as follows:









Firm

Audit Hours FY01



Total Cost FY01


Total Cost FY02


Total Cost FY03


Total Cost FY04
Berberich Trahan 454 $37,245 $38,703 $39,976 $40,932
Baird, Kurtz & Dobson

627


$60,800


$60,800


$64,000


$67,000
KPMG 711 $89,230 $94,584 $112,200 $109,600






Based on the proposal evaluations, the evaluation committee recommends an award be made to Berberich Trahan & Co., P.A. for the audits and related professional services for the fiscal year ending June 30, 2001 with the option of renewing for each of the subsequent three (3) fiscal years, which if exercised provides for audits and related professional services through June 30, 2004.



FINANCIAL IMPLICATIONS:



Expenditures are comparable to amounts included in FY01 budget; therefore, no additional resources will be required. Subsequent year's costs will be budgeted based on total costs as detailed previously.



RECOMMENDATION:



President Farley recommends the Board of Regents approve awarding the audit services contract to Berberich Trahan & Co., P.A. effective for the fiscal year ending June 30, 2001.











Date Signature __________________________

Jerry Farley, President


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