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Addendum No. 01 - RFP for Fee Accountant Services

For a printable version of RFP Addendum for Fee Accountant Services(which includes all content as listed below, click here.

 

Request for Proposal for Fee Accountant Services

Addendum No. 01

July 6, 2026

 

The Housing Authority of the City of Hot Springs "HACHS" is hereby clarifying and answering questions regarding the Request for Proposal. 

Question 1: Who are the auditors HACHS currently have?

Answer: Our auditors are Barrale Renshaw, CPAs & Advisors LLC

Question 2: Were there any audit findings on the last audit?  If so, what were they?

Answer: There were no financial findings from our last audit.  They were two finding relating to the Section 8 program.  There were some deficiencies in tenant files and there were not enough inspections for our PBV tenants during the audit period.  Overall, the auditor issued an unmodified opinion for both financial and the overall programs.

Question 3: Does the HACHS currently have any state or federal grants it has been awarded?  If so, what is the expenditure deadline and what is the total grant amount?

Answer: As of July 6, 2026, HACHS only has the FSS grant for 2026.  The expenditure period is for calendar year 2026 with the deadline being December 31st.  The total grant is $62,672. 

Question 4: What are the number of bank accounts that the fee accountant will complete the bank reconciliation for?  When are the bank statements for the previous month available?  What is the average number of transactions per bank account?

Answer: HACHS has seven bank accounts.  The electronic bank statements are available at the beginning of the month.  The bank accounts and the average number of transactions are as follows:

  • Section 8 Voucher- 67 transactions (Most landlord payments are ACH)
  • Section 8 FSS Escrow - 5 transactions
  • Revolving Fund - 22 transactions
  • Section 8 FSS Forfeitures - No average monthly transaction. Depends on both funds' availability and eligible requets
  • Private Market Interest - 10 transactions (Non-Federal)
  • Low Rent - 4 transactions (We don't have a low rent program. The bank account is for collecting bad debt from tenants when the program was active)
  • Public Facilities Corporation - 1 transaction (Non-Profit)

Question 5: How many units does the LIHTC property have?

Answer: The LIHTC property has 365 units.  The property is currently being managed by a management company.  We are in a partnership with the developer company that established the LIHTC property.  We currently administer the Section 8 PBV vouchers and manage the wait list for the property

Question 6: What is the total number of entities you have that require both budget and financial reporting?

Answer: We currently have a total of two entities that require budget and financial reporting.  The first is the Housing Authority of the City of Hot Springs.  This entity has most of the programs listed in the RFP.  The Section 8 programs, grant and the privately owned market interest operate under HACHS.  The second entity is the Hot Springs Public Facilities Corporation "PFC".  The PFC is our non-profit entity.  The PFC currently does not have much activity, but we expect to utilize the non-profit more often in the upcoming months. 

Question 7: What entails the board financial packet for each entity? 

Answer: The board financial packet is the entity's balance sheet and income statement for the month.  For HACHS, each program has its own balance sheet and income statement (UNP, NRP, EHV, etc.)

Question 8: Can you provide a sample copy of the monthly financial reports listed in the RFP so we can properly estimate our proposal? 

Answer: We can provide a sample copy of our June 2025 financial packets.  Please email cgoodin@hshousing.org for a copy.

This addendum DOES NOT change the original bid date, time, or location.

END OF ADDENDUM

 

 We do business in accordance with the Federal Fair Housing Law which states: It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status or national origin.