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RFP: 2026-02 Fee Accounting Services

For a printable version of RFP: 2026-02 Fee Accounting Services (which includes all content as listed below), click here.

Request for Proposals (RFP) 
RFP No. 2026-02
Housing Authority of the City of Hot Springs
June 21, 2026

I. Introduction 
The Housing Authority of the City of Hot Springs (HACHS) is soliciting proposals from qualified Certified Public Accountants (CPAs) or Licensed Public Accountants to provide fee-based accounting and financial management services for its public housing and assisted housing programs.  HACHS is entering the final year of its contract with MRI Lindsey Software for housing authority software and fee accounting ending 5/31/2027.  HACHS plans to convert to PHA-Web by 5/31/2027 and will also need to procure a new fee accountant by that date as well.

The initial contract term will be for one (1) year, with renewal options for up to two (2) additional one-year terms based on satisfactory performance and availability of funds.

All services must comply with applicable requirements of the U.S. Department of Housing and Urban Development (HUD), including but not limited to:

  • HUD Accounting Handbook
  • HUD Financial Management Handbook
  • HUD Audit Guideline
  • Annual Contributions Contract (ACC)
  • Asset Management Requirements
  • Applicable federal regulations governing public housing authorities and grant-funded programs

The selected firm will provide external accounting services and advisory support. This engagement does not constitute an independent audit of the Housing Authority's financial statements.

The Housing Authority currently administers:

  • Section 8 Housing Choice Voucher Program (665 units)
  • Section 8 Project Based Voucher Program (365 vouchers)
  • Emergency Housing Voucher Program (14)-Anticipated to convert to HCV
  • Section 8 Tenant Protection Voucher Program (64 vouchers)
  • Section 8 VASH Program (30 vouchers)
  • Section 8 FSS Grant (46 tenants on escrow)
  • One Low-Income Housing Tax Credit (LIHTC) property
  • Private Owned Market Interest (7 Units)
  • One nonprofit component entity
  • Additional programs that may be added during the contract term

Fiscal year: July 1st - June 30th.

The Housing Authority reserves the right to reject any or all proposals, waive informalities, re-advertise, or cancel this RFP at any time.

II. Qualifications 
Each respondent must demonstrate and provide documentation of the following minimum qualifications:

  1. Must be a Certified Public Accountant (CPA) licensed in the State of Arkansas, or a Licensed Public Accountant legally authorized to practice in Arkansas.  The vendor bid will automatically be thrown out if it doesn't include this.

  2. Demonstrated experience providing accounting services to public housing authorities or similar governmental housing agencies of at least 10 years.

  3. Thorough knowledge of HUD programs, including Public Housing, Housing Choice Voucher (HCV), FSS Grant, and LIHTC coordination.

  4. Working knowledge of other federal and Arkansas state grants.

  5. Not debarred, suspended, or excluded from participation in federal programs (SAM.gov eligibility required if applicable).

  6. Ability to comply with all applicable federal, state, and local procurement and professional standards.

  7. Experience of working with PHA-Web housing software is a recommended.

  8. MWBE Firms and firms with Section 3 workers are encouraged to apply.

III. Term of Contract 

The contract term shall be as follows: 

  • Initial Term: June 1, 2027-June 30, 2028
  • Renewal Option 1: July 1, 2028 - June 30, 2029
  • Renewal Option 2: July 1, 2029 - June 30, 2030

Either party may terminate the agreement with thirty (30) days written notice. All obligations shall remain in effect for ninety (90) days following termination to ensure proper transition and closeout. 

IV. Scope of Services
The selected Fee Accountant shall provide ongoing financial management, reporting, and advisory services to ensure compliance with HUD and other applicable requirements.

  1. Core Monthly Services

    The Fee Accountant shall: 
    1. Prepare monthly financial statements by program, including:
      • Balance Sheet
      • Income State (Budget vs. Actual)
      • General Ledger
      • Trial Balance
      • Supplemental Schedules

    2. Maintain and/or review accounting records, including: 
      • Bank reconciliation
      • Journal entries
      • Chart of accounts maintenance and coding review
      • Fixed asset and depreciation schedules
      • Investment tracking
      • Insurance registers
      • Grant reporting, including other potential state and federal grants besides HUD.

    3. Prepare monthly board reporting packages for all entities.

    4. Provide advisory services on accounting, budgeting, and compliance matters for HUD, Arkansas and GASB.

    5. Attend board meetings or staff meetings upon request.

B. HUD and Regulatory Reporting 
The Fee Accountant shall prepare or assist with:

  1. HUD financial and program reports, including: 
    • VMS reporting and related reconciliations
    • Annual financial data submissions (FDS or successor systems, if applicable)

  2. FSS grant reporting and closeout support

  3. Annual budget preparation for all programs and entities as needed

C. Annual and Periodic Functions

  1. Year-end closing entries and financial statement preparation support per GASB
  2. Grant and fund reconciliation reports
  3. Schedule of fixed assets and capital expenditure
  4. Draft the MD&A report as required per GASB 103
  5. Coordination support for audit preparation (non-audit function)

V. Deliverables and Performance Requirements

  1. Monthly financial reports shall be delivered no later than the 10th business day of the following month.
  2. VMS submissions and corrections shall be completed in accordance with HUD deadlines.
  3. Annual budget drafts shall be delivered no later than May 31st each year.
  4. Year-end closeout support shall be completed within agreed-upon timelines to support audit readiness.
  5. All deliverables must be accurate, complete, and compliant with HUD standards.

Failure to meet deadlines or deliver accurate reports may result in corrective action or termination.

VI. Work Plan Requirements 
Each proposal must include a detailed Work Plan describing: 

  1. Approach to providing monthly and annual services
  2. Staffing structure, including
    • Names and roles of key personnel
    • Professional certifications
    • Relevant HUD experiences

  3. Internal quality control procedures
  4. Use of accounting systems/software
  5. Communication plan with Housing Authority staff
  6. Transition plan for onboarding and offboarding

VII. Proposal Submission Requirements 
Proposals must include, at a minimum: 

  1. Cover letter
  2. Firm qualifications and experience
  3. Staff resumes and organizational chart
  4. Evidence of Arkansas CPA/licensure and good standing
  5. HUD and public housing experience references (minimum three)
  6. Sample financial reports (if available)
  7. Insurance certificates (professional liability, general liability)
  8. Pricing proposal (see Section VIII)
  9. Filled out forms (HUD 5369 A-C)
  10. Non-Collusive Affidavit
  11. Disclosure of any conflicts of interest or litigation history
  12. SAM.gov registration status (if applicable)

VIII. Cost Proposal 
Respondents shall provide: 

  1. A fixed annual fee for all standard services
  2. Allocation of annual fee by program:
    • Housing Choice Voucher Program
    • Private Owned Market Interest Units
    • FSS Grant
    • Potential Federal/State Grants outside of HUD
    • Tax Credit/ Other Entities

  3. Hourly rates for additional services outside the base scope
  4. Statement of inclusions/exclusions (travel, software, onsite visits, etc.)

Payments will be made in twelve (12) equal monthly installments unless otherwise agreed.

IX. Evaluation Criteria 
Proposals will be evaluated using the following criteria: 

  1. HUD, public housing, governmental and GASB fee accounting experience - 30 points  
  2. Knowledge of HUD and Arkansas regulations for advisory services- 20 points
  3. Cost proposal - 20 points
  4. References and past performance - 15 points
  5. Experience with PHA-Web Software- 10 points
  6. MWBE/Section 3 Qualifications- 5 points

Total: 100 Points

X. Reservation of Rights 
The Housing Authority reserves the right to: 

  • Reject any or all proposals
  • Waive informalities or minor irregularities
  • Re-advertise or cancel the RFP
  • Accept or negotiate any proposal deemed in the best interest of the Authority
  • Award the contract without further discussion or negotiation

XI. Submission Deadline

Questions for RFP Deadline: July 1, 2026 at 5:00 PM CST.

Addendum Deadline: July 6, 2026

All proposals must be received no later than: July 17, 2026 at 5:00 PM CST. 

Proposals shall be emailed to: cgoodin@hshousing.org 

Subject Line: RFP- Fee Accounting Services- (Vendor Name)

Primary Contact: Christopher Goodin, Accountant cgoodin@hshousing.org