COLORADO HOUSING AND FINANCE AUTHORITY 1981 BLAKE STREET DENVER, CO 80202 REQUEST FOR PROPOSAL (RFP) Audit Services POSTED: April 16, 2015 PROPOSALS DUE: No later than 3:00 p.m. MDT Friday May 15, 2015 The Colorado Housing and Finance Authority (CHFA) is a body corporate and political subdivision of the State of Colorado, established by the Colorado General Assembly for the purpose of increasing the supply of decent, safe and sanitary housing for low and moderate income families; and to promote sound economic development by supporting business enterprises. More information on CHFA may be found at the CHFA website, www.chfainfo.com.
TABLE OF CONTENTS 1. Guidelines for Request for Proposals 1.1 Project Description... 1 1.2 RFP Schedule of Events... 1 1.3 Submission of Written Questions... 2 1.4 Submission of Proposals Deadline... 2 1.5 Award of Contract... 2 1.6 Contract Term... 2 1.7 Prime Respondent... 3 1.8 Right to Reject Proposals and Negotiate Contract Terms... 3 1.9 Record Keeping and Record Retention... 3 1.10 Termination of Contract... 3 1.11 Notification of Award(s)... 3 1.12 Waiver of Informalities... 4 1.13 Contract Award... 4 1.14 Further Proposals Submission Requirements... 4 2. Scope of Services 2.1 Background Information... 5 2.2 Recent Audit Information... 6 2.3 Nature of Services Required... 6 3. Preparing and Submitting the Proposal 3.1 Proposal Organization and Format... 9 3.2 Submitting the Proposal... 9 4. Proposal Requirements 4.1 Cover Page... 10 4.2 Table of Contents... 10 4.3 Description of Firm... 10 4.4 Professional Requirements... 10 4.5 Prior Experience... 10 4.6 Respondent References... 11 4.7 Staff Qualifications... 11 4.8 Diversity and Inclusion Practices 11 4.9 Approach to the Audit... 11 4.10 Cost Proposal... 12 4.11 Additional Services... 12 4.12 Previous and Pending Claims... 12 4.13 Mandatory Requirements... 13 5. Evaluation Process 5.1 Minimum Evaluation Requirements... 14 5.2 Comparative Evaluation Criteria... 14 6. Miscellaneous... 15
Request for Proposals for Audit Services Section 1 Guidelines for Request for Proposals 1.1 Project Description Colorado Housing and Finance Authority (CHFA) is seeking proposals from qualified independent certified public accounting firms to provide audit services for CHFA s financial statements and Single Audit in accordance with state and federal requirements and as specified in this Request for Proposals (RFP). Firms responding to this RFP (respondents) are required to prepare and submit their proposals in accordance with the directions contained in this RFP. All submitted eligible proposals will be reviewed and evaluated by CHFA in accordance with the evaluation and selection standards specified herein. The selected respondent to this RFP must be available to provide the services required below for the five (5) fiscal years ending December 31, 2015, 2016, 2017, 2018, and 2019. a) Interim audit work. b) Annual audit of CHFA s financial statements. c) Annual audit of CHFA s financial statements with required Ginnie Mae and Fannie Mae supplemental schedules and opinion on internal controls over financial reporting and compliance and other matters. d) CHFA also undergoes a Single Audit for certain of its federally funded programs, which includes a Schedule of Expenditures of Federal Awards in compliance with the U.S. Office of Management and Budget Circular A-133 and Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards, Final Rule. This audit will be covered under this RFP. 1.2 RFP Schedule of Events CHFA has established the following schedule for selection of an audit firm: Event Date RFP Issuance Date April 16, 2015 Submission of Written Questions Deadline April 29, 2015 Submission of Proposals Deadline May 15, 2015, 3:00 p.m. MDT Completion of Evaluation (estimated) June 12, 2015 Contract Award Date (estimated) July 10, 2015 1
The above schedule is subject to change upon notice from CHFA. Schedule changes and/or other RFP revisions, including date, time, and place changes, if any will be posted to the CHFA website http://www.chfainfo.com/pages/rfps.aspx 1.3 Submission of Written Questions Requests for additional information and/or questions and clarifications not answered in this RFP should be sent via e-mail only to Thomas Bryan, Controller at tbryan@chfainfo.com by 3:00 pm MDT April 29, 2015. All questions, as well as answers, will be posted in the RFP section of CHFA s website at http://www.chfainfo.com/pages/rfps.aspx. CHFA will avoid private communications with respondents or prospective respondents prior to the award of the RFP. Respondents who initiate private communications with CHFA personnel regarding material issues involving this RFP may be disqualified. 1.4 Submission of Proposals Deadline Electronic proposals in response to this RFP must be received no later than 3:00 p.m. MDT, Friday May 15, 2015, at the following email address: 1.5 Award of Contract Thomas Bryan E-mail: tbryan@chfainfo.com Controller / Director of Accounting Colorado Housing and Finance Authority Telephone No. 303-297-7436 CHFA will award the contract on or before the RFP Award Date to the respondent whose proposal is the most advantageous to CHFA with price and other factors considered. 1.6 Contract Term The initial term of this contract will be for three years, with the option to renew for two additional one year terms. The full five-year term of this engagement will be contingent upon satisfactory and timely completion of the audit for the period ending December 31, 2015. CHFA reserves the right to terminate the contract before completion of the base term if CHFA deems services unsatisfactory. CHFA staff will provide schedules and assistance as required, in accordance with an agreed-upon schedule. 2
1.7 Prime Respondent No subcontractors are to be used. 1.8 Right to Reject Proposals and Negotiate Contract Terms CHFA reserves the right to reject any and all proposals and to negotiate the terms of the contract(s), including the contract amount(s), with the selected respondent prior to entering into a contract. If contract negotiations cannot be concluded successfully with any selected respondent(s), CHFA may negotiate a contract with the next ranked respondent. CHFA is not required by law to conduct this RFP and reserves the right to cancel or withdraw this RFP at any time and for any reason. The contents of the respondent's proposal and this RFP, and any amendments thereto, shall become contractual obligations to a successful respondent. Failure of a successful respondent to accept these obligations as contractual agreement may result in cancellation of the award. 1.9 Record Keeping and Record Retention The respondent shall establish and maintain adequate records of all out of pocket expenditures incurred under the contract. CHFA shall have the right to audit, review, examine, copy and transcribe any pertinent records or documents held by the respondent relating to any contract resulting from the RFP. The respondent will retain all documents applicable to the contract for a period of not less than seven (7) years after final payment is made. 1.10 Termination of Contract CHFA reserves the right to suspend or terminate any subsequent contract in whole or in part with or without cause. Suspension or termination for cause shall include, but not be limited to the following: a. Failure or unwillingness of the respondent to comply with their approved proposal, with the applicable State Statutes, or with such directives as may become generally acceptable at the time. b. Submission by the respondent to CHFA reports which are inconsistent with the detailed specification. c. Performance and/or delivery not in accordance with the terms specified. 1.11 Notification of Award(s) Notification of Award will be posted on the CHFA website http://www.chfainfo.com/pages/rfps.aspx. 3
1.12 Waiver of Informalities CHFA reserves the right to accept or reject any or all responses to this RFP, waive minor informalities, and to accept only the most qualified offer in the judgment of CHFA. The determination of whether an RFP condition is substantive or a minor irregularity shall reside solely with CHFA. 1.13 Contract Award The contract will be awarded based on CHFA's evaluation of the proposal determined by CHFA to be the most advantageous to CHFA after consideration of the Evaluation Criteria and other requirements set forth in this RFP. 1.14 Further Proposals Submission Requirements Please refer to Sections 2, 3, 4, and 5 of this RFP for further proposal submission requirements, information and directions, RFP selection criteria, and related information concerning this RFP. 4
Section 2 Scope of Services 2.1 Background Information CHFA s mission is to strengthen Colorado by investing in affordable housing and community development. CHFA was created in 1973 by the Colorado General Assembly to address the shortage of affordable housing in the state. In 1982, when the Colorado economy was experiencing economic difficulties, CHFA began making loans to businesses. To accomplish our mission, CHFA offers loan programs and homebuyer education to support responsible homeownership. CHFA provides loans and tax credits to developers of affordable rental housing, so all Coloradans may have access to a place to call home; and CHFA helps business owners access the capital they need to grow and support jobs. Over the past 40 years, CHFA has invested more than $10 billion into the state s economy. These resources have helped: 84,472 Colorado homebuyers achieve homeownership, 97,761 households attend homebuyer education classes statewide, 58,628 affordable rental housing units be developed or preserved, and 3,670 businesses access capital to support 49,570 jobs. The Authority raised funds historically through the public and private sale of bonds and notes, which are not obligations of the State. The proceeds were loaned to eligible borrowers, primarily through private lending institutions across the state under sound fiscal practices established by the Authority. As a self-sustaining organization, the Authority s operating revenues come from loan and investment income, program administration fees, loan servicing and gains on sales of loans. The Authority receives no tax appropriations, and its net revenues are reinvested in its programs and used to support bond ratings. The Authority participates in the Government National Mortgage Association (Ginnie Mae) Mortgage Backed Securities (MBS) Programs. Through the MBS Programs, Ginnie Mae guarantees securities that are issued by the Authority and that are backed by pools of mortgage loans. Ginnie Mae securities, which can be held or sold, carry the full faith and credit guaranty of the United States government. Holders of the securities receive a pass-through of the principal and interest payments on a pool of mortgage loans, less amounts required to cover servicing costs and Ginnie Mae guaranty fees. The Ginnie Mae guaranty ensures that the holder of the security issued by the Authority receives the timely payment of scheduled monthly principal and any unscheduled recoveries of principal on the underlying mortgage loans, plus interest at the rate provided 5
for in the securities. All loans pooled under the Ginnie Mae MBS Programs are either insured by the Federal Housing Administration or are guaranteed by the United States Department of Agriculture Rural Development or the Veterans Administration. The Authority also participates in the Federal National Mortgage Association (Fannie Mae) Mortgage Backed Securities (MBS) and Whole Loan Commitment Programs. Fannie Mae is a Government-Sponsored Enterprise with a public mission to provide stability in and to increase the liquidity of the residential mortgage market. CHFA is a Fannie Mae Seller/Servicer, either selling whole loans to Fannie Mae for cash or swapping pooled loans for mortgage-backed securities (MBS) issued by Fannie Mae, which securities can be held or sold. CHFA has entered into a number of derivative products including interest-rate swaps, forward hedge contracts, and variable rate debt. CHFA s debt primarily resides in large parity bond indentures administered through third-party trustees. CHFA also invests in mortgage servicing rights in connection with its single family programs and oversees a single family loan servicing portfolio, through a third-party sub-servicer, of 31,365 loans with an unpaid principal balance of $2.4 billion. CHFA also services in-house a portfolio of 612 rental housing and business finance loans with an unpaid principal balance of $710 million. In addition, CHFA receives several federal awards. CHFA is committed to diversity and inclusion with its suppliers to meet the growing needs of its customer base. CHFA staff understands that the purchasing decisions that we, and our vendors make, can impact the community we serve through People, Planet, Purpose, and Price. The four- P (4P) procurement standards are embedded in our vendor diversity standards to ensure we are reducing the environmental impact of our purchasing decisions and expanding our diversity outreach, while maximizing the purchasing value of our funds. 2.2 Recent Audit Information KPMG, LLP performed the most recent audit of CHFA s financial statements for the fiscal year ending December 31, 2014. An unmodified opinion was issued on the Financial Statements. There were no audit adjustments, audit issues, management letter, or disagreements for the fiscal year ending December 31, 2014. A copy of the audit report is located on the CHFA website at http://www.chfainfo.com/investors/pages/financial-report.aspx. 2.3 Nature of Services Required For each fiscal year being audited the respondent shall: a. Provide all reports and opinions, as described in section 1.1, to management for response no later than March 15 of each year. Release of audited Financial Statements, supplemental schedules and opinions must be approved by the Audit Committee and provided to several agencies no later 6
than March 30 of each year (a regulatory deadline). b. Conduct an audit of CHFA s financial statements sufficient in scope to allow the respondent to express its opinion whether or not the financial statements are in conformity with accounting principles generally accepted in the Unites States of America. c. Perform a Single Audit which includes a Schedule of Expenditures of Federal Awards in compliance with the U.S. Office of Management and Budget Circular A-133 and Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards, Final Rule. d. Perform the audit in accordance with generally accepted auditing standards as promulgated by the American Institute of Certified Public Accountants in Statements on Auditing Standards, the standards for financial and compliance audits contained in Government Auditing Standards 2011 Revision issued by the Comptroller General of the United States, the Single Audit Act as amended, the Provisions of OMB Circular A-133, and the AICPA Audit Guides Audits of State and Local Governmental Units and Government Auditing Standards and Circular A-133 Audits. e. Pursuant to the U.S. Department of Housing and Urban Development Audit Guide and the Ginnie Mae MBS Guide, in addition to the audited statements and certification of good standing with the Federal Housing Administration, Fannie Mae and Freddie Mac, prepare certain annual audit reports with respect to: (a) internal control structure; compliance with applicable laws and regulations; computation of adjusted net worth; verification of adequate fidelity bond and mortgagee errors and omissions insurance coverage with proper Ginnie Mae and Fannie Mae endorsement; and corrective action plan, if applicable. f. Issue a management letter suggesting improvements in CHFA s conduct of its fiscal affairs, where applicable. g. Apprise CHFA of future modifications to Generally Accepted Accounting Principles promulgated by authoritative bodies, principally the Governmental Accounting Standards Board (GASB), and discuss with CHFA and recommend procedures to implement such changes. h. Hold an entrance conference with management and the Audit Committee of CHFA to discuss the current year engagement. i. Hold an exit conference with management and the Audit Committee of CHFA to discuss the financial statements prior to issuance of auditor s report, as appropriate. j. Meet with the Audit Committee independently to discuss the audit process. k. Coordinate with CHFA s Internal Audit Division, which is in a position to 7
assist the external auditor, pursuant to SAS 65. The scope of services that Internal Audit can provide may be further discussed prior to the award date. Additionally, the selected firm will need to coordinate the external audit with the Internal Audit function. l. Clarify expectations of client verses auditor s role in preparing reports and the level of detail required for client prepared work papers. m. Allow CHFA to republish audited financial statements in bond offering documents as necessary without the audit firm performing additional procedures 8
Section 3 Preparing and Submitting the Proposal 3.1 Proposal Organization and Format a. Proposals will be formatted and tabbed in the exact form and numeric sequence as described in the Proposal Requirements set forth in Section 4 of this RFP. Additional information, if provided, should be added at the end of the Proposal under separate tab(s). b. Responses to all items will be complete. 3.2 Submitting the Proposal a. Submittal of proposal shall be via e-mail to the Controller, at tbryan@chfainfo.com. b. By submitting a proposal, respondents accept in all respects the conditions of this RFP including, but not limited to, Section 6 and the following: 1. Late proposal submittals will not be reviewed and evaluated. They will be returned unopened. 2. CHFA reserves the right to reject any proposal submittals on the basis of being unresponsive to the RFP requirements or for failure to fully disclose requested information. 3. Top-scoring respondents may be required to make oral presentations to clarify and verify the written proposals. CHFA will schedule a time and location for any such oral presentation. Should a respondent refuse to honor the request for oral presentation, this may result in the rejection of the proposal. Since oral presentations may not be held, respondents are cautioned to provide complete information within their applications. 4. CHFA, in its sole discretion, retains the right to waive any minor irregularity in any respondent s response to these or other RFP requirements should it be judged to be in the best interest of CHFA. 9
Section 4 - Proposal Requirements Proposals must be submitted to CHFA in accordance with Section 1.4 of this RFP unless a different schedule is announced by CHFA by addendum. 4.1 Cover Page A form for completing the Cover Page has been included in this RFP (see page 17). 4.2 Table of Contents The Proposal Table of Contents will conform to the titles and numeric sequence of this Section 4. 4.3 Description of Firm In this section of the proposal, state the type of firm, the location of the office, and the number of employees located in Colorado. Give the location of the office from which the work is to be done and number of partners, shareholders, and managers and other professional staff employed at that office. Describe the range of activities performed by the local office. 4.4 Professional Requirements Respondents must submit written evidence and documentation to verify that the following professional requirements are met: a. The firm is a qualified independent Certified Public Accounting firm licensed for public practice in the State of Colorado. b. The firm has current insurance policies that cover errors and omissions, general and vehicular liability and workers compensation. c. Affirm that the firm has participated in a quality control review within the past three years. A copy of the review must be included in the proposal. d. Affirm that the firm is independent for this audit engagement. 4.5 Prior Experience The firm must describe its experience in providing audit services for CHFA, including the firm s experience with financial institutions, Government entities, non-profit Housing Authorities, component units, general ledger conversions, GASB Statements No. 53, 65, 68, and 72, sophisticated bond issues, Ginnie Mae and Fannie Mae Issuers, single family secondary market participants, rental housing and business direct lending, and Single Audits under OMB Circular A-133. 10
4.6 Respondent References Respondents must include in the proposal a list of organizations, including points of contact (name, address, email address and telephone number), which can be used as references. A minimum of three references is required. All references should be current and, prior to submittal of the proposal, the respondent must inform the named references that their names are being so listed. Selected references may be contacted to determine the quality of work performed and personnel assigned to the project. The result of the reference checks may be provided to reviewers to be used in scoring the written proposal. 4.7 Staff Qualifications Provide resumes describing the educational and work experiences for each of the key staff that would be assigned to the project. Describe the role and responsibilities for each person who will participate. For each staff member s experience, specify the type of project(s), scope and complexity, and their role in the project including whether it involved a housing authority or similar entity. Be very specific in describing the organizational chart for the project which includes all key staff to be assigned to this project and clearly show supervision. 4.8 Diversity and Inclusion Practices CHFA strongly values diversity and inclusiveness among its customers, employees, vendors and partners. As part of your proposal, include a description of your firm s diversity and inclusion practices, including how individuals selected to work on this audit engagement meet your firm s diversity practices. 4.9 Approach to the Audit Both a narrative audit description and basic work plan should be submitted. The narrative should provide an overview of the respondent's approach to this project. The work plan should be prepared in outline form and should contain, at a minimum, the following information: a. The sequence of tasks to be performed. b. A time schedule for performing the proposed work, financial and single audit, taking into consideration reporting deadlines as well as availability of CHFA staff. Indicate the duration of the fieldwork and number and level of staff assigned to complete the fieldwork. Keep in mind the nature of services required as described in Section 2.3. c. A list of all senior persons who will be involved in carrying out the tasks identified in the work plan, describing each in terms of their involvement. Subsequent senior staff substitution must be based on equivalent experience. 11
d. A list of audit engagements which indicate the experience of the respondent. e. CHFA has an Internal Audit function with three dedicated full-time employees. In the past, internal audit staff have assisted external auditors with the loan confirmation process, including alternative procedures, and with loan aging verifications. Additionally, the external auditor had placed reliance on internal audit work performed during the year. In an effort to reduce duplication, describe how your firm will coordinate field work with CHFA s Internal Audit function. Additionally, describe how you will provide Internal Audit with access to audit plans, work programs and detailed work papers. f. A description of the types of third-party consultants the respondent might engage in order to complete the project and the types of work the respondent would expect them to contribute. 4.10 Cost Proposal The cost proposal should specify costs by type of required service; financial audit and single audit. Costs should be detailed further by providing the number of estimated hours and the hourly billing rate for each staff or management level. The cost of proposed project should include all anticipated expenses, including but not limited to travel and office support expenses. The cost proposal must be broken down by year, beginning with the fiscal year ending December 31, 2015 and ending with fiscal year 2019. The lowest cost will not necessarily result in a contract award. 4.11 Additional Services Include a description of any additional services the respondent believes are important or essential to completion of the audit, along with any related costs. 4.12 Previous and Pending Claims Submit a list of 1) pending criminal or civil suits, arbitrations or other legal actions or dispute in process against any entity or person comprising the respondent, if any, including any failure to complete a contract awarded to any respondent entity, and 2) previous criminal or civil suits, arbitrations or other legal actions or disputes against any respondent entity or person for claims commenced or concluded in the past five (5) years, if any. For each item on the list, briefly state the name and address of the party making claim(s) against the respondent entity; the case or other identification number and the body hearing the action or dispute, if any; the general nature of the action or dispute; the amount in controversy; and the present status of the matter. 12
4.13 Mandatory Requirements The proposal requirements stated in this request for proposal are mandatory and are not simply desirable. It should be further understood that failure by a respondent to respond to a specific requirement may be the basis for elimination from consideration during CHFA's comparative evaluation. 13
Section 5 Evaluation Process 5.1 Minimum Evaluation Requirements Submitted proposals shall be reviewed by an evaluation committee comprised of CHFA staff and Audit Committee members. 5.2 Comparative Evaluation Criteria a. Proposals must demonstrate that the respondent is qualified to provide the requested audit services. The evaluation committee will determine qualifications based on the following: 1. Respondent s experience providing audit services for the housing authority of either a state, local government, and/or nonprofit housing finance agency. 2. Respondent s experience with Ginnie Mae and Fannie Mae issuers. 3. Respondent s experience with auditing in an environment that includes parity bond indentures, derivatives, loan servicing portfolios, and mortgage servicing rights, single family secondary market participants, and rental housing and business direct lending. 4. Respondent s references from three such entities described in paragraph 5.2a(1). 5. A statement from the respondent as to its compliance with the following mandatory professional qualifications. The respective respondent must: (a) Be an Independent Auditor properly licensed for public practice in Colorado; and (b) Not have a record of substandard work that may be verified by checking with the State Licensing Authority. b. Proposals must demonstrate that the respondent s staff is qualified to provide the requested audit services. Respondents must clearly identify the staff assigned to the CHFA audit. The evaluation committee will determine qualifications based on the following: 1. Staff credentials and experience. 2. Staff references from state, local government, and/or nonprofit housing finance agency. c. Proposals must demonstrate a well-defined audit approach and timetable which will result in CHFA s receipt, each year, of final audit reports within the statutory, regulatory and contractual deadlines. 14
Section 6 - Miscellaneous 6.1 CHFA and the selected vendor will enter into a contract, describing the terms and conditions of the services to be performed, including vendor compensation. 6.2 All submitted proposals become the sole and exclusive property of CHFA and will not be returned. 6.3 CHFA is a Political Subdivision of the State of Colorado, and, therefore, is subject to the Colorado Open Records Act (C.R.S. 24-72-200.1 Et Seq) (CORA). Responders to this RFP (each a Respondent ) acknowledge and agree that the response to the RFP and any other related materials submitted to CHFA are not considered confidential information. Respondents that wish to protect portions of their proposals from public disclosure must make a written request that those records be kept confidential at the time of submission. In addition, Respondents must specifically and conspicuously identify any portion of the proposals that are deemed by them to constitute confidential or proprietary information or trade secrets. Those portions must be readily separable from other portions of the proposal. Respondents identification of material as being exempt from disclosure is not conclusive and responders submitting such requests acknowledge the possibility that such materials may be determined pursuant to law to not be protected from disclosure under the laws governing CHFA and the resulting contract. CHFA will provide Respondents with notice as soon as possible of any request for disclosure of confidential information. The burden is solely on the Respondent to take such actions as they deem necessary and appropriate to shield such materials from disclosure. Each Respondent agrees to reimburse CHFA for, and to indemnify, defend, and hold harmless CHFA, its officers, fiduciaries, employees and agents from and against: (1) any and all claims, damages, losses, liabilities, suits, judgments, fines, penalties, costs, and expenses, including without limitation, attorneys fees, expenses, and court costs of any nature whatsoever (collectively, the Claims ) arising from or relating to CHFA s non-disclosure of any such designated portions of the response or other materials submitted by the Respondent related to this RFP; and (2) any and all Claims arising from or relating to CHFA s public disclosure of any such designated portions of a response or other materials submitted by the Respondent related to this RFP if disclosure is deemed required by law or if disclosure is ordered by a court of competent jurisdiction. 6.4 CHFA is subject to C.R.S. 8-17.5-102, which provides that, unless there is an applicable exclusion, Colorado state agencies and political subdivisions may not enter into, or renew, a contract for services (labor, time or effort, not involving a specific product) with a contractor who knowingly employs or contracts with an illegal alien to perform work under the contract or who knowingly contracts with a subcontractor who knowingly employs or contracts with an illegal alien. Therefore, if a contract is a public contract for services, the vendor must certify that the vendor does not knowingly employ or contract with an illegal alien; and that the vendor participates in either the Department of Homeland 15
Security/Social Security Administration E-Verify Program or the State of Colorado Department of Labor and Employment Program. Further, there are required contract provisions relating to the vendor s agreement to not knowingly employ or contract with any illegal aliens. 6.5 Additional information that is reasonably necessary for CHFA to fairly and comprehensively evaluate proposals may be enclosed with a proposal, as long as such information clarifies or substantiates written responses. 6.6 During the evaluation and decision process, CHFA may request additional information or clarifications from responders. At its discretion, CHFA may request certain responders to make oral presentations at their sole cost and expense. 6.7 CHFA shall not be liable for any expenses, including travel expenses related to preparation of the proposal, any due diligence by the responder and/or CHFA, and the contract negotiation process. 6.8 CHFA is committed to diversity and inclusion with its suppliers to meet the growing needs of its customer base. CHFA staff understands that the purchasing decisions that we, and our vendors make, can impact the community we serve through People, Planet, Purpose, and Price. The four- P (4P) procurement standards are embedded in our vendor diversity standards to ensure we are reducing the environmental impact of our purchasing decisions and expanding our diversity outreach, while maximizing the purchasing value of our funds. 6.9 This RFP and the resulting contract shall be governed by the laws of the State of Colorado and venues for any actions shall lie exclusively in Denver, Colorado. By submitting a response to this RFP, Respondent irrevocably submits to the exclusive personal jurisdiction of the courts located in the City and County of Denver. 6.10 Written approval from CHFA must be obtained for any media releases regarding an award of the contract by CHFA. 6.11 By submitting a proposal, Respondent agrees to waive any claim(s) it has or may have against CHFA and/or any of the current or former CHFA directors, officers, board members, employees, or agents arising out of or in connection with (1) the administration, evaluation, or recommendation of any proposal (2) waiver of any requirement under this RFP, (3) acceptance or rejection of any proposal, and (4) award of the contract. 16
REQUEST FOR PROPOSAL ( RFP ) FOR AUDIT SERVICES FOR THE COLORADO HOUSING AND FINANCE AUTHORITY COVER PAGE 1. Name of Applicant Organization: Address: 2. Employer Identification Number: 3. Name of Person Who Prepared Application: 4. Name, title, address, email address, and telephone number of official authorized to commit the organization to submittal of the application and to an ensuing contract, if any: Name: Title: Address: Email: Telephone Number: Date: Signature: 17