RFP: Auditing Services for GVUTD

Gallatin Valley Urban Transportation District (GVUTD), which operates public transit service under the brand name “Streamline,” is requesting proposals from qualified independent certified public accounting firms to perform its annual financial statement audit and required federal compliance audit for the fiscal year ending June 30, 2026 (FY26). The initial engagement will also include auditing beginning balances for the period from April 1, 2025 through June 30, 2025. GVUTD expects the selected firm to conduct the audit in accordance with all applicable professional standards and federal requirements.

Organization Background GVUTD is a quasi-governmental entity with approximately two employees and contracts with a fiscal agent for financial management, reporting, compliance, and payroll. Fund accounting is utilized for all grants through Blackbaud Financial Edge NXT, and GVUTD maintains one bank account with an operating budget of approximately $3 million. The district receives significant funding through Federal Transit Administration grants, Montana Department of Transportation programs, and contributions from local operating partners including Montana State University, the City of Bozeman, the City of Belgrade, and Gallatin County.

Scope of Work The selected auditor will be responsible for performing an annual audit of GVUTD’s financial statements under generally accepted auditing standards (GAAS), as well as any required work under Government Auditing Standards (Yellow Book). The firm must also conduct the required federal Single Audit in accordance with 2 CFR Part 200 Subpart F, including auditing federal awards expended and reviewing GVUTD’s Schedule of Expenditures of Federal Awards (SEFA). The auditor will also issue a management letter and participate in entrance and exit conferences, along with presenting final results to the GVUTD Board Finance Subcommittee.

Deliverables Required deliverables include the independent auditor’s report on the financial statements, any Yellow Book reporting on internal controls and compliance, Single Audit reports if applicable, the audited SEFA, and a management letter with recommendations. GVUTD requires the final deliverables to be submitted electronically as one complete PDF package.

Contract Term The initial contract will cover the FY26 audit, including beginning balance work, and GVUTD intends to include up to four one-year renewal options for subsequent fiscal years. Renewals will depend on satisfactory performance, mutual agreement, and availability of funding.

Key Procurement Dates The RFP was issued on February 10, 2026. Questions must be submitted by February 19, 2026 (end of day, Mountain Time). Proposals are due March 10, 2026 by 4:00 p.m. Interviews may be requested during the week of March 16, 2026, and GVUTD anticipates awarding the contract on March 31, 2026.

Audit Schedule Expectations GVUTD expects the audit process to begin with an entrance conference and final PBC list in July 2026. The district will provide the adjusted trial balance and initial audit data no later than August 31, 2026. Fieldwork is expected in early October 2026, with follow-up and audit adjustments completed by October 20. Draft reports should be provided by December 1, 2026, and final audit reports are due by December 31, 2026. A presentation to the Finance Subcommittee will take place in January 2027.

Proposal Submission Requirements Only firms with currently licensed CPAs may respond. Proposals must include a signed cover letter, firm qualifications, experience with governmental and federal award audits (especially transit or FTA-funded programs), at least three references, staffing plans and resumes, peer review documentation, a completed price proposal form, and signed required certifications. Proposals must be submitted by email as one PDF document, and late submissions will not be considered.

Evaluation Criteria GVUTD will evaluate proposals based on relevant experience, firm capacity and independence, staff qualifications, audit approach and ability to meet the schedule, and total proposed cost. GVUTD reserves the right to reject any or all proposals and may award without interviews.

Reminder to Review Full RFP This overview highlights only the most important deadlines, requirements, and expectations. Interested firms should consult the full RFP document from the link below, including all exhibits, for complete details, submission instructions, and certification requirements.