Request for Proposal For Audit Services

Location:	North Carolina
Posted:	Nov 19, 2025
Due:	Mar 2, 2026
Agency:	State Government of North Carolina
Type of Government:	State & Local
Category:	R - Professional, Administrative and Management Support Services
Solicitation No:	80-November 2025
Publication URL:	To access bid details, please log in.

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Request for Proposal for Audit Services

November 2025

Request for Proposal for Audit

General

The Blue Ridge Community College Foundation is seeking proposals for auditing services. To be

considered, one signed original of the technical proposal form and one signed original of the cost

proposal form, plus supporting documentation must be received by March 2, 2025 at 3pm. Mail

completed proposals to Susan Malloy, Blue Ridge Community College Foundation, 180 Campus Drive,

Flat Rock, NC 28731 or hand deliver to the Educational Foundation Office in the Patton Building. In

addition to the physical proposal, an electronic copy should also be emailed to S.Malloy@blueridge.edu.

Please contact Susan Malloy, Blue Ridge Educational Foundation Director of Finance, with questions about

the RFP or Foundation financial records. She may be reached at S.Malloy@blueridge.edu or 828-694-1708.

Evaluation of Proposals

Proposals will be evaluated based on experience and the firm’s most recent peer review report, then

costs will be considered. The experience criteria will be based on the experience of the proposing office

doing relevant kinds of audit work, assigned staff qualifications, and audit procedures.

Period of Contract

The contract shall be awarded for one year--fiscal year ending June 30, 2026; with the option to renew

for each year for up to two additional years.

Cost Guarantee

Costs quoted shall remain firm for the entire contract period. No cost increases will be allowed during

the contract period if there are no new audit requirements.

Amendments to Contract

The parties may, during the term of the contract, request changes in the contract. Any changes mutually

agreed upon must be incorporated into the contract by amendment.

Confidentiality

All reports, information, data, etc. furnished by the Foundation to the contractor are to remain

confidential and shall not be made available by the contractor to any individual or organization without

the prior written approval of the Foundation Treasurer or Executive Director. Contents of the audit may

not be released without the written consent of the Foundation.

Cancellation

Either party to the contract may terminate the agreement by written notice prior to January 1 of any year of

the contract.

Nature of Activities

The Blue Ridge Community College Foundation is a private, nonprofit organization formed in 1974 to

procure private assets for Blue Ridge Community College. The Foundation is tax-exempt under 501(c)(3)

of the IRS code. As the fundraising arm of Blue Ridge Community College, the Foundation serves a

supporting role for the College by raising, managing, and distributing funds for various College programs

and student scholarships.

The Blue Ridge Community College Educational Foundation statements must comply with Generally

Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and Generally

Accepted Government Auditing Standards (GAGAS). Foundation financial statements are required to be

prepared according to Financial Accounting Standards Board (FASB) Statement 116, Accounting for

Contributions Received and Contributions Made, and FASB 117, Financial Statements of Not-for-Profit

Organizations

Blue Ridge Community College Foundation also is subject to GASB Statement 39. GASB Statement 39

amends Statement 14 to require that certain organizations be reported as component units in the

annual financial statements based on the nature and significance of their relationship with the primary

organization.

The Foundation’s fiscal year begins July 1 and ends June 30. A copy of the financial statements for the

year ended June 30, 2025, have been included for your reference.

Scope of Work

The scope of work shall include a financial audit for each fiscal year of the contract that is conducted in

accordance with GAAP, GAAS, and GAGAS. The purpose of this examination is to express an unqualified

opinion on the fairness of the presentation of the Foundation’s financial principles applied on a basis

consistent with that of the preceding year.

The audited financial statements shall include the following items at a minimum:

• Independent Auditor’s Report that briefly describes the nature of the audit and opinion

rendered

• Audited Statements: Statement of Financial Position, Statement of Activities and Changes in Net

Assets, Statement of Cash Flows, and any other necessary statements

• Notes to Financial Statements which may include organizational information, summary of

significant accounting policies, life insurance policy information, promises to give, perpetual

endowment, deposits and investments, related party transactions, use of estimates, and any

other relevant notes to financial statements

• A determination as to whether the financial statements are presented in accordance with GASB

and FASB

The contractor shall prepare and issue a management letter containing recommendations to improve or

correct deficiencies in internal control and related budgeting and operating procedures noted during the

conduct of the audit. Additionally, in the audit report, the contractor

shall offer suggestions for improving administrative methods, management operations, and cost

reductions when considered appropriate and documentable within the scope of the audit.

The contractor shall also prepare and submit the IRS form 990 (nonprofit tax report) in accordance with

current IRS regulations.

Contractor’s Responsibilities

The contractor shall be familiar with appropriate federal and state laws, regulations, and audit

standards. The contractor shall be responsible for personnel, supplies and equipment, and shall assume

responsibility for all the work performed. Officers and employees of the contractor shall be subject to

the same duty of confidentiality applicable to the Foundation personnel.

The contractor shall report immediately to the Treasurer of the Blue Ridge Educational Foundation

whenever it shall appear in the course of the audit that there may have occurred any violation of penal

statutes and instances of misfeasance, malfeasance, or nonfeasance by the employees, or any shortage

in the accounts of any official or employee of the Foundation. Also, the contractor shall report

immediately to the Treasurer of the Blue Ridge Educational Foundation concerning any irregularity in the

Foundation’s organization. Irregularities include such matters as conflicts of interest, falsification of records or

reports, and misappropriations of funds or other assets.

During the course of the audit, the contractor must refer to the internal staff for any questions or

requests for information.

A principal member of the contractor shall conduct an exit interview with the Executive Director and

Treasurer to review the findings and recommendations of the audit service. A principal member of the

contractor shall attend a meeting with the Board of Directors to make a presentation of the audit report

and/or to answer questions or to further clarify the audit report, if necessary. The contractor shall

provide technical assistance at an hourly fee, whenever requested by the Foundation, throughout the

contract period.

Foundation’s Responsibilities

Office space will be provided to accomplish the audit on site, if necessary. The Foundation shall make all

files and records available to the contractor and shall provide assistance to the contractor, such as

gathering supporting documents. The Foundation shall provide prior audit reports and any work papers

concerning the Foundation as requested.

The Foundation shall review and provide written acceptance of the audit report, authorize payment to

the firm, and will be solely responsible for distributing all audit reports.

Audit Timeline for 2026, 2027, 2028

Submission of a proposal signals your firm’s agreement to adhere to the following timeline:

Approximate Date

June 1

Activity

Meet with Blue Ridge Educational Foundation

Director of Finance, Executive Director, and

Foundation Treasurer to discuss audit details

July 31

September 5

Mid-October

All items required by auditor provided by the

Foundation to the auditor

Final audited figures provided to Blue Ridge

Educational Director of Finance for state report.

This includes the statement of net assets,

statement of activities and changes in net assets

and the financial notes.

Audited financial records and Form 990 complete

and ready for review. A principal member of the

contractor shall conduct an exit interview with

the Blue Ridge Educational Director of Finance,

Foundation Treasurer, and Executive Director to

review the findings and recommendations of the

audit service.

November 15

File electronic 990

This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

Solicitation Number:	80-November 2025
Project Title:	Request for Proposal For Audit Services
Description:	The Blue Ridge Community College Foundation is seeking proposals for auditing services.
Opening Date:	3/2/2026 3:00 PM
Posted Date:	11/19/2025
Status:	Open
Department:	BLUE RIDGE TECHNICAL COMMUNITY COLLEGE


Solicitation Number * 80-November 2025	Department BLUE RIDGE TECHNICAL COMMUNITY COLLEGE	Status Reason Open
Opening Date 2026-03-02T15:00:00.0000000	Posted Date * 2025-11-19T14:18:49.0000000Z	Commodity Code Audit services
Mandatory Conference/Site Visit — —	Special Instructions —	Solicitation Type * Select RFP IFB RFI
Owner Sharon Howell
Description The Blue Ridge Community College Foundation is seeking proposals for auditing services.

Attachments RFP Audit Services 2026 FINAL.pdf (235.26 KB)