Audit and Tax Services

The Vendor is required to provide audit and tax services must perform both the annual financial audit of the agency and all property-level audits or engagements that may require by regulators, investors, and lenders.
- Agency-wide audit
•    Audit of FRH’s financial statements in accordance with generally accepted auditing standards (GAAS), standards, and all applicable regulatory requirements.
•    Express an opinion on the financial statements prepared in conformity with generally accepted accounting principles (GAAP) and board pronouncements. 
•    Coordinate with FRH management to establish a mutually agreed-upon audit timeline, including planning, interim fieldwork, and year-end fieldwork.
- Single audit
•    Perform a single audit in accordance with the uniform guidance (2 CFR part 200, subpart f), as foothills regional housing (FRH) expends $750,000 or more in federal funds in each fiscal year.
•    Prepare all necessary reporting packages for submission to the federal audit clearinghouse and act center.
- Property-level audits
•    properties financed with low-income housing tax credits (LIHTC): annual audits and tax returns to include an annual surplus cash flow (waterfall) calculation 
•    Community development housing programs such as home, HTF and community development block grant (CDBG) administered through the state division of housing or local jurisdictions, 
•    Bond-financed properties and related bond requirements, and 
•    Nonprofit affiliates or blended and discretely presented component units.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: September 15, 2025