| Description |
| April 15, 2024
To All Interested Firms:
The Rhode Island Health and Educational Building Corporation (“RIHEBC” or the “Corporation”) is soliciting proposals from firms interested in acting as Auditor to the Corporation. The Corporation, subject to approval by the Auditor General and the Department of Administration, will appoint a firm to act as Auditor based upon the responses received to the enclosed Invitation to Submit Proposals. The engagement period will be for each of the three (3) fiscal years ending June 30, 2024, 2025 and 2026.
The Corporation is a quasi-public corporation created in 1966 by the General Assembly of Rhode Island to assist not-for-profit colleges and universities, hospitals, nursing homes and other healthcare and educational institutions through the issuance of tax-exempt and taxable debt. The Corporation’s powers expanded in 2003, making it the designated issuer of bonds for school projects undertaken by school districts eligible for reimbursements through the Rhode Island Department of Education’s (RIDE’s) school housing aid program. The Corporation is also the designated administrator of RIDE’s school housing aid. In 2015, the Rhode Island legislature established the School Building Authority Capital Fund to provide upfront funding to public elementary and secondary schools for high priority building repairs and designated the Corporation as administrator of the School Building Authority Capital Fund. In 2019, legislation provided the State with the ability to issue $250 million School Construction Bonds. The Corporation serves as administrator of the School Construction Bond program.
The Corporation is governed by a Board of Directors consisting of five (5) members, appointed by the Governor for terms of five (5) years. The Corporation operates under the direction of the Executive Director.
For financial reporting purposes, the Corporation is reported as a component unit of the State of Rhode Island. Accordingly, the Corporation’s financial statements are included in the State of Rhode Island’s annual financial report.
Interested firms must submit one (1) electronic copy of its proposal to RIHEBC by 3:00 p.m. on May 1, 2024.
RIHEBC will review all proposals received and firms selected as finalists may be requested to have a representative or representatives available for interview should RIHEBC require additional information. It is anticipated that the selection of an Auditor will take place at RIHEBC’s Board Meeting on May 15, 2024.
RIHEBC will consider many factors in its selection process, including, but not limited to, relevant experience, demonstrated competence, quality of personnel assigned, and proposed fees. RIHEBC reserves the right to reject any and all proposals, and it need not select the lowest bidder. RIHEBC’s selection of Auditor is subject to approval by the Auditor General and the Department of Administration. In selecting an Auditor, RIHEBC will comply with Chapter 2 of Title 37 of the Rhode Island General Laws.
Each firm’s proposal shall not exceed twenty (20) pages. Any supplemental materials submitted with the required information will not be considered. Any questions regarding this Invitation to Submit Proposals should be submitted by email to Scott O’Malley, Chief Financial Officer of RIHEBC, at somalley@rihebc.com.
Sincerely,
Dylan Zelazo
Executive Director
Invitation to Submit Proposals to Conduct Audits for each of the
Fiscal Years Ending June 30, 2024, 2025, and 2026 in
Accordance with Approved Audit Specifications Listed Below
Agency Seeking Proposals
Rhode Island Health and Educational Building Corporation
33 Broad Street, Suite 200
Providence, Rhode Island 02903
Instructions for Submission of Proposals
Email one (1) electronic copy to:
Dylan Zelazo, Executive Director
dzelazo@rihebc.com
and
rfp@rihebc.com
Submission Deadline
May 1, 2024 by 3:00 p.m.
Proposed Format
Each i |
