Questions & Answers for the New Jersey Public Broadcasting Authority (NJPBA) Audit Request for Proposal (RFP)
Q: There are two RFP’s. Are two separate responses and fee quotes required?
A: Yes, two separate responses and fee quotes are required.
Q: Who drafts the Authority’s financials statements?
A: NJPBA staff draft the Authority’s trial balance and preliminary financial statements.
Q: Who drafts the Authority’s MD&A?
A: NJPBA staff draft the Authority’s MD&A.
Q: Is FASB # 63 going to be adopted by the Authority or will the present treatment remain in effect?
A: With adequate staffing, the Authority intends on implementing FASB #63.
Q: What is the current status of the system-wide accounting system?
A: The system-wide accounting system for NJPBA is currently on hold; NJPBA billing and receivables management is administered through Quick Books.
Q: Has a new accounting system been selected? Which one? What is the status of implementation?
A: N/A
Q: Should a separate fee be estimated for an annual Single Audit?
A: Yes, a separate fee should be submitted for an annual Single Audit.
Q: Should hourly rates be stated for additional services?
A: Yes, an hourly rate should be stated for additional services.
Q: Please provide the last three years auditing fees paid for each of the entities.
Schedule of Authority and Foundation total auditing fees for last three years:
| |
Authority |
Foundation |
| FY 2004 |
$30,000 |
$17,500 |
| FY 2005 |
$41,000 |
$17,500 |
| FY 2006 |
$29,624 |
$18,000 |
Q: Also, during the same three year period what other fees were paid for accounting and auditing services?
A: No other fees were paid for accounting and auditing services.
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