CORAL GABLES RETIREMENT SYSTEM REQUEST FOR PROPOSAL FOR INDEPENDENT AUDIT SERVICES

Transcription

1 CORAL GABLES RETIREMENT SYSTEM REQUEST FOR PROPOSAL FOR INDEPENDENT AUDIT SERVICES SECTION I GENERAL INFORMATION A. INTRODUCTION/BACKGROUND The Coral Gables Retirement Board (hereafter Board ) is requesting Proposals from qualified firms interested in providing independent auditing services (hereafter Proposer(s) ) related to the Coral Gables Retirement System (hereafter CGRS ) to begin fiscal year October 1, 2017 to September 30, The CGRS is a defined benefit public employee retirement system administered by the Board to provide pension benefits for City of Coral Gables employees. The Investment Committee of the Board (hereafter referred to as the IC ), will facilitate the selection process. The IC is composed of five (5) Board Members and two (2) City Employees. The Board and IC are governed in the Sunshine and therefore all meetings are open to the public. B. SCHEDULE OF EVENTS The anticipated timetable for this RFP and subsequent Contract is as follows. All dates are tentative and subject to change. RFP available for distribution March 19, 2018 Deadline for receipt of questions April 3, 2018 Response to questions April 9, 2018 Deadline for receipt of Proposals April 19, 2018 IC review of Proposals April 26, 2018 Presentations to the Board May 10, 2018 Board begins contract negotiations May 11, 2018 Projected contract award and start date June 1, 2018 C. RFP AVAILABILITY Copies of the RFP are available by contacting Kimberly Groome at (305) or at kgroome@coralgables.com.

2 D. PROPOSAL SUBMISSION An Electronic version in PDF format of the complete Proposal must be received via at by April 19, 2018 no later than 3:00 p.m. local time, as evidenced by the date and time stamp of the received. subject line must read as follows CGRS RFP PROPOSAL SUBMISSION PROPOSER S NAME. It is the responsibility of the Proposer to confirm receipt of the proposal by the Retirement System Office. Additionally, it is the responsibility of the Proposer to confirm the Retirement System Office s ability to open and access the PDF file. The Proposal must be signed by an officer of the company who is legally authorized to enter into a contractual relationship in the name of the Proposer(s), and Proposer(s) must affix their company s corporate seal to the Proposal. In the absence of a corporate seal, a Notary Public must notarize the Proposal. The Board shall consider the submittal of a Proposal by a Proposer(s) as constituting an offer by the Proposer(s) to perform the required services at a stated fee. The stated fee shall be considered locked in for 180 days from the time of receipt of the Proposal. E. CONTACT PERSON/CONE OF SILENCE The contact person for this RFP is Kimberly Groome, Administrative Manager. Her contact information is: 405 Biltmore Way Coral Gables, FL Phone: (305) kgroome@coralgables.com Explanation(s) desired by Proposer(s) regarding the meaning or interpretation of this RFP must be requested from the contact person, in writing, as is further described below. Proposer(s) are advised that from the date of release of this RFP until award of the contract, a Cone of Silence shall be imposed upon each RFP. NO contact regarding the RFP with City officers or personnel or the Board members is permitted, except as authorized by the contact person. Any such unauthorized contact may result in the disqualification of the Proposer(s) s submittal. The Cone of Silence shall terminate at the time of the Board's approval of the award or upon rejection of the RFP by the Board. F. ADDITIONAL INFORMATION/ADDENDA Requests for additional information or clarifications must be made in writing no later than the date specified in the RFP Timetable. The request must contain the Proposer(s) s name, address, phone number, and address. Electronic requests

3 will be accepted by at subject line for additional information requests must read as follows: CGRS RFP PROPOSAL SUBMISSION PROPOSER S NAME INFORMATION REQUEST The Administrative Manager will issue responses to inquiries and any other corrections or amendments as the Administrator deems necessary in written addenda issued prior to the Proposal Due Date. Proposer(s) should not rely on any representations, statements or explanations other than those made in this RFP or in any addendum to this RFP. Where there appears to be a conflict between the RFP and any addenda issued, the last addendum issued will prevail. It is the Proposer(s) s responsibility to be sure all addenda were received. The Proposer(s) should verify with the designated contact person(s) prior to submitting a Proposal that all addenda have been received. Proposer(s) are required to acknowledge the number of addenda received as part of their Proposals. G. LATE PROPOSALS, LATE MODIFICATIONS AND LATE WITHDRAWALS Proposals received after the Proposal Due Date and Time are late and will not be considered. Letters of withdrawals received after the Proposal Due Date or after contract award, whichever is applicable, are late and will not be considered. H. RFP POSTPONEMENT/CANCELLATION The Board reserves the right to reject any and/or all Proposals or sections thereof, and waive any technicalities. As a matter of information, the Board does not bind themselves to accept the minimum specifications stated herein, but reserve the right to accept any Proposal, which in the judgment of the Board will best serve the needs and interest of the Retirement System. This offering of Invitation for Request for Proposals itself does not in any way constitute a contractual agreement between the Board and the Proposer(s). Furthermore, the Board reserves the right to award without further discussion. I. COSTS INCURRED BY PROPOSER(S) All expenses involved with the preparation and submission of Proposals to the Board, or any work performed in connection therewith shall be borne by the Proposer(s). No payment will be made for any responses received, or for any other effort required of or made by the Proposer(s) prior to commencement of work as defined by a contract approved by the Board.

4 J. ORAL PRESENTATION A 15-minute formal oral presentation will be made to the Board by each Proposer(s) that is selected during the initial review process outlined in Section IV B. Presentations should be in support of the Proposer(s) s Proposal or to exhibit or otherwise demonstrate the information contained therein. If the Board wishes additional clarification of any information or additional information after the oral presentations, any of the Proposer(s) may be requested to submit that information in writing. K. PROPRIETARY INFORMATION Responses to this Request for Proposals upon receipt by the Board become public records subject to the provisions of Chapter 119 F.S., Florida s Public Records Law. If the Proposer(s) believes that any portion or all of the Proposer(s) s responses are confidential and/or proprietary, the Proposer(s) should clearly assert such exemption and the specific legal authority of the asserted exemption. All material that the Proposer(s) asserts qualifies for exemption from Chapter 119 must be submitted in a separate envelope, clearly identified as TRADE SECRETS EXCEPTION, with Proposer(s) s name and the Proposal number marked on the outside. Please be aware that any person may challenge the designation of an item as a trade secret by the Proposer(s) in court. By Proposer(s) s designation of material in the Proposal as a trade secret Proposer(s) agrees to hold harmless and indemnify the Board for any award to a plaintiff for damages, costs or attorneys fees and for costs and attorneys fees incurred by the Board by reason of any legal action challenging the Trade Secret Exception. Proposer(s) may be required to pay any costs or fees incurred in defending such a charge if the Board declines to defend such claim. L. QUALIFICATIONS OF PROPOSER(S) As a part of the Proposal evaluation process, the Board may conduct a background investigation of Proposer(s), including a record check by the Coral Gables Police Department or any other law enforcement agency. Proposer(s) s submission of a Proposal constitutes acknowledgement of the process and consent to such investigation. No Proposal shall be accepted from, nor will any contract be awarded to, any Proposer(s) who is in arrears to the City of Coral Gables, upon any debt, fee, tax or contract, or who is a defaulter, as surety or otherwise, upon any obligation to the City of Coral Gables, or who is otherwise determined to be irresponsible or unreliable by the Board or whose Owners, chief operating officers, chief financial officers are likewise in arrears.

5 M. NEGOTIATIONS The Board may award a contract on the basis of initial offers received, without further negotiations. Therefore, each initial offer should contain the Proposer(s) s best terms from a cost or price and technical standpoint. The Board reserves the right to enter into contract negotiations with the selected Proposer(s). If the Board and the selected Proposer(s) cannot negotiate a successful contract, the Board may terminate said negotiations and begin negotiations with the next selected Proposer(s). This process will continue until a contract has been executed or all Proposer(s) have been rejected. No Proposer(s) shall have any rights against the Board arising from such negotiations. N. RIGHTS OF APPEAL Participants in this RFP solicitation may protest RFP specifications or award in accordance with Section Resolution of protested solicitations and awards Formal in the City of Coral Gables Procurement Code. O. RULES; REGULATIONS; LICENSING REQUIREMENT The Proposer(s) shall comply with all laws, ordinances and regulations applicable to the services contemplated herein, including those applicable to conflict of interest and collusion. Proposer(s) are presumed to be familiar with all Federal, State and local laws, ordinances, codes and regulations that may in any way affect the services offered. P. REVIEW OF PROPOSALS Each Proposal will be reviewed to determine if the Proposal is responsive to the submission requirements outlined in the RFP. A responsive Proposal is one which follows the requirements outlined in the RFP, includes all required documentation, is submitted in the format outlined in the RFP, is of timely submission, and has the appropriate signatures as required on each document. Failure to comply with these requirements may deem Proposer(s) s Proposal non-responsive. The Board reserves the right to waive any failure of compliance in the Board s sole discretion.

6 SECTION II SCOPE OF SERVICES A. INTENT It is the intent of the Board to solicit Proposals from Proposer(s) interested in serving as auditor for the Coral Gables Retirement Plan. B. SCOPE OF SERVICES REQUESTED The Board is issuing this RFP for audited services to conduct an independent examination and audit of the CGRS financial statements beginning fiscal year ending September 30, The scope of the audited services shall include the following: AUDIT OF FINANCIAL STATEMENTS 1. Audit the financial statements of CGRS In accordance with auditing standards generally accepted in the United States of America (GAAS) and comprise the statement of fiduciary net position as of September 30, 2018, the related statement of changes in fiduciary net position for the year then ended and the related notes to the financial statements. The draft of the audited statements will be submitted to CGRS at least the third week of January and the final audited statements will be presented at the February Board meeting. 2. On an annual basis, compile the statement of assets and liabilities and the statement of revenues, expenditures and changes in fund balance as of and for the year ended September 30, 2018 to be included in the form prescribed by the Municipal Police Officers and Firefighters Retirement Trust Funds Office (State Annual Report). This report will be presented and approved by the Board at the February meeting. 3. Assist CGRS in preparing the financial statements, related footnote disclosures, required supplementary information and supplemental schedules based on the financial information provided by the CGRS Administrative and other information that comes to attending during the course of engagement. QUALIFICATIONS OF THE FIRM 1. Provide a brief history of the firm. 2. Describe the size and organizational structure of the firm. 3. How long has the firm been licensed or registered in the State of Florida, county and city?

7 4. Briefly describe other resources and services provided by the firm. 5. List any complaints filed or disciplinary action, pending or otherwise, against your firm from federal, state or regulatory bodies in the last five (5) years and provide the circumstances. 6. Describe any terminations, suspensions, censures, reprimands, probations or similar actions against the firm or any member of the firm by the Florida State Board of Accountancy or any other licensing authority in the last five (5) years. REFERENCES 1. Provide Attachment A Reference Questionnaire to a minimum of three (3) references from public sector agencies, particularly municipal/local government, for which Proposer has performed similar scope of services in the past two (2) years and submit completed questionnaires in the Proposal. 2. Provide a list with contact information of public sector clients that have discontinued use of Proposer s services within the past two (2) years and indicate the reasons for the same. The CGRS reserves the right to contact any reference as part of the evaluation process. INDIVIDUAL QUALIFICATIONS 1. Describe the participation that the person primarily assigned to render the services to the Board will provide and include a resume. 2. Identify the individual who will have primary responsibility for this audit and provide a resume. 3. Describe your experience auditing governmental employee benefit plans. 4. Describe your relevant experience and knowledge relating to defined benefit plans for Florida public retirement systems. 5. Describe your experience relating to completing the State Annual Report. AUDIT APPROACH 1. Explain your understanding of the work to be performed. 2. Provide a general description of your audit procedures and explain how those procedures will ensure an efficient and effective examination. 3. Describe required communications to the Board.

8 PROJECT SCHEDULE 1. Provide the project schedule and an estimate of the number of hours required to complete the engagement. 2. Make a positive commitment to perform the work within the specific time period. The audit must be completed and the report presented to the Board at its meeting held on the second Thursday in February. PROPOSED FEE SCHEDULE 1. Provide a proposed annual fee schedule for the audit for each of the three (3) years ending September 30, 2018 through and including September 30, 2021, as well as a proposed annual fee for completing the State Annual Report. Include projected out-of-pocket expenses in the annual fee quote. 2. Provide a schedule of hourly rates if additional work is required during the term of the agreement. 3. Any new client setup fee should be clearly outlined in detail.

9 C. SELECTION PROCESS/CRITERIA The Proposer(s) will be selected from the qualified vendors submitting responses to this Request for Proposals. The selection process will be as follows: No later than April 26, 2018 the members of the IC will rank the top three responsive and responsible Proposals. The top three Proposals will qualify to make a presentation to the Board. All actions and decisions of the Board shall require the concurrence of a majority of the members of the Board. The following criteria and assigned weights will be used by the IC and Board to evaluate Proposals: Approach to Scope of Services 30 Qualifications & Experience (manager and others designated to work on audit) 20 Performance Timeline 10 Presentation 10 References 10 Cost of Providing Services 20 Total Points 100 On May 10, 2018 the Board presentations and interviews will be completed.

10 SECTION III GENERAL PROVISIONS A. CONTRACT AWARD The award, if any, shall be made to the Proposer(s) who s Proposal shall be deemed by the Board to be in the best interest of the Board. The decision of the Board of whether to make the award and which Proposal is in the best interest of the Board shall be made with the sole discretion of the Board and shall be final. The Contract to be entered into with the successful Proposer(s) will designate the successful Proposer(s) as the Board s Contractor and will include, but not be limited to, the following terms and conditions. B. GENERAL TERMS AND CONDITIONS Following are the General Terms and Conditions, supplemental to those stated elsewhere in the Request for Proposals, to which the Contractor must comply to be consistent with the requirements for this Request for Proposals. Any deviation from these or any other stated requirements should be listed as exceptions in a separate appendix of the Proposal. 1. Public Entity Crimes. Section (2)(a), Florida Statutes, contains the following provisions: A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not submit a bid on a contract to provide any goods or services to a public entity, may not submit a bid on a contact with a public entity for the construction or repair of a public building or public work, may no submit bids on leases of real property to a public entity, may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity in excess of the threshold amount provided in Section , for CATEGORY TWO for a period of 36 months from the date of being placed on the convicted vendor list. 2. Drug Free Work Place. Preference shall be given to Contractors submitting a certification with their Proposal certifying they have a drug-free workplace whenever two or more bids which are equal with respect to price, quality, and service are received in accordance with Section 287,087, Florida Statutes. The attached form should be filled out and returned with the Proposals in order to qualify for this preference. 3. Legal Requirements. The Contractor shall comply with all rules, regulations and laws of the City of Coral Gables, Miami-Dade County, the State of Florida and the Federal Government now in force or hereinafter to be adopted. Lack of knowledge by the Contractor shall in no way be cause for relief from responsibility.

11 4. Collusion. The Contractor, by submitting a Response, certifies that its Response is made without previous understanding, agreement or connection either with any person, firm or corporation submitting a Response for the same services or with any City Department. The Contractor certifies that its Response is fair, without control, collusion, fraud or other illegal action. The Contractor certifies that it is in compliance with the conflict of interest and code of ethics laws. 5. Americans with Disabilities Act (ADA). The Contractor certifies that it is in compliance with and agrees to continue to comply with, and assure that it complies with all applicable requirements of the laws pertaining to employment, provision of programs and service, transportation, communications, access to facilities of all persons entitled to the benefits of the Federal, State and City laws, statutes, ordinances, rules and regulations pertaining to the employment of the disabled. 6. Indemnification. The Contractor shall agree to defend, indemnify and save harmless the City and Board, Commissioners and Board Members and the IC, (collectively the Indemnified Parties) its officers, agents, attorneys and employees, from and against any and all liability, claims, demands, fines, fees, expenses, penalties, suits, proceedings, actions and costs of action, including attorney s fees for litigation, trial and on appeal, of any kind and nature arising or growing out of or in any way connected with the performance of the contract whether by act or omission or negligence of the Contractor, its agents, servants, employees or others, or because of or due to the mere existence of the Contract between the parties. 7. Sovereign Immunity. The Board exercises and specifically does not waive its right to sovereign immunity. Nothing in the executed contract shall be interpreted that the Board waives its sovereign immunity granted under Section , Florida Statutes. 8. Term. The term of the contract will commence upon final execution and will continue for three (3) years, subject to termination as described in number nine (9) below. At the end of the contract period, upon satisfactory performance, the Board, may at its option, negotiate and extend the contract for an additional three (3) year period. 9. Termination. The contract will provide termination by the Board without cause with no less than 30 days prior written notice. The Proposer(s) will provide no less than 120 days written notice should it desire to terminate the contract without cause. In the event of termination, the Contractor will be compensated for services rendered up to and including the day of termination. In the event that the Board desires to terminate the contract, with cause, it may do so by providing Proposer with 14 days prior written notice.

12 10. Applicable Law. The contract and the legal relations between the parties hereto shall be governed and construed in accordance with the laws of the State of Florida. 11. Conflict of Interest. Any prospective Proposer(s) must make an affirmative statement to the effect that its retention, if selected, shall not result in a conflict of interest or create an appearance of impropriety with any person or organization that may be affected under this program. Should any potential or existing conflicts be known by a prospective actuarial firm, said prospective actuary must specify the person or organization with which the conflict exists or might arise, the nature of conflict and whether the prospective actuary would or would not step aside or resign from that conflicting engagement or representation if selected. 12. Insurance. The Proposer(s) selected must present proof of professional insurance, general insurance, worker s compensation, and fidelity insurance coverage of an adequate and acceptable amount and shall to the extent allowed by law and required by the Board and to add the Board as an additional insured to said policies, if possible.

13 ATTACHMENT A REFERENCE QUESTIONNAIRE It is the responsibility of the contractor/vendor to provide a minimum of three (3) similar type references using this form and to provide this information with your submission. Failure to do so may result in the rejection of your submission. Giving reference for: Firm giving Reference: Address: Phone: Fax: 1. Q: How skilled is their ability in communicating with the Board? A: 2. Q: What are their strengths? A: 3. Q: What are their weaknesses? A: 4. Q: Was your point of contact easy to get in touch with? A: 5. Q: Did they perform on a timely basis as required by the agreement? A: 6. Q: Would you rehire them again? A: 7. Q: Overall, what would you rate their performance? (Scale from 1-5) A: 5 Excellent 4 Good 3 Fair 2 Poor 1 Unacceptable 7. Q: Is there anything else we should know, that we have not asked? A: The undersigned does hereby certify that the foregoing and subsequent statements are true and correct and are made independently, free from vendor interference/collusion. Name: Title Signature: Date:

14 DRUG-FREE WORK PLACE FORM The undersigned vendor in accordance with Florida Statute herby certifies that does: (Name of Business) 1. Publish a statement notifying employees that the unlawful manufacture, distribution, possession, or use of a controlled substance is prohibited in the workplace and specifying the actions that will be taken against employees for violations of such prohibition. 2. Inform employees about the dangers of drug abuse in the work place, the business s policy of maintaining a drug-free workplace, any available drug counseling, Employee Assistance Programs, and the penalties that may be imposed upon employees for drug abuse violations. 3. Give each employee a copy of the statement specified in subsection (1) that are engaged in providing the commodities or contractual services that are proposed. 4. In the statement specified in subsection (1), notify the employees that, as a condition of working on the commodities or contractual services that are proposed, the employee will abide by the terms of the statement and will notify the employer of any conviction of, or plea of guilty or nolo contendere to, any violation of Chapter 893 or of any controlled substance law of the United States or any state, for a violation occurring in the workplace no later than five (5) days after such conviction. 5. Impose a sanction on, or require the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee s community by any employee who is so convicted. 6. Make a good faith effort to continue to maintain a drug-free workplace through implementation of this section. As the person authorized to sign the statement, I certify that this firm complies fully with the above requirements. Proposer s signature Date