Auditing Services

The vendor is required to provide that auditing services to conduct (1) a financial audit of authority funds and accounts; (2) a financial audit of green energy market securitization (gems) bond fund for the fiscal years ending June 30, 2025 through June 30, 2028.
- Authority has developed a variety of financing products to address this need, including loans and leases for commercial and residential customers, as well as an on-bill repayment program allowing electric utility ratepayers in the state electric companies territories to repay an authority obligation on their utility bill.
- Authority also administers the c-pacer financing program, the federally funded solar for all program, and will be launching the solar hui investment fund during the spring 2025.
- Audit the financial statements of the governmental activities for the period beginning July 1st, 2024 to June 30th, 2025, each major fund, and the budgetary comparison schedules for each major special revenues fund that has a legally adopted budget, including the related notes to the financial statements, collectively comprise the basic financial statements of: (1) authority, including the single audit over the EPA’S solar for all funds, (2) audit the financial statements of the authority infrastructure bond fund (368), and (3) internal control examinations, agreed-upon procedures and other related services including reviews of the efficiency and effectiveness of information, accounting, and other related systems and procedures
- authority currently has seven separate state fund accounts, which collectively comprise the basic financial statements of authority:
• Fund 367 – authority: gems special fund, funds held in the state treasury
• Fund 395 – authority: gems program funds, funds held outside the state treasury for its gems loan program
• Fund 138 – authority: general funds, funds held in the state treasury for its solar + energy storage loan program
• Fund 370 – authority: state revolving fund, funds held outside the state treasury for its state revolving loan program 
• Fund 549 – authority: hi-cap, funds held outside the state treasury for state program
• Fund 569 – authority: EPA solar for all, federally-funded program, single audit required
• Fund 396 – authority: CEEERF, clean energy & energy efficiency revolving fund
- Implement other procedures the auditor considers necessary to enable it to express an audit opinion.
- Audit workpapers. all workpapers shall be prepared by the contractor.
- At any time during and subsequent to the completion of the audit, the contractor shall make available to the authority all workpapers developed during the audit for their inspection and review.
- Such workpapers include, but are not limited to, the following:
• The audit program and internal control questionnaire.
• The working trial balances
• Schedules, computations, analyses, audit notes, confirmation letters and replies, and other data representing a record of work done in support of account transactions and balances, and systems analysis.
• Documents obtained relating to the examination.
- A report on financial statements consisting of:
• Management’s discussion and analysis provided by the authority; financial statements;
• Supplementary statements, schedules, and notes.
- A report on the internal control structure consisting of:
• A statement of the contractor's scope and an identification of the significant internal accounting controls and those controls designed to provide reasonable assurance that federal financial award programs are being managed in compliance with the applicable laws and regulations
• Disclosure of all significant findings; and iii. evaluation and recommendations
- As applicable, single audit
- Tentative deadlines for fy25 are Friday October 10, 2025 for all draft reports and Friday, November 14, 2025 for all final reports.
- Contract Period/Term: 4 years
- Questions/Inquires Deadline: March 10, 2025