City of Philadelphia Sinking Fund Commission

The buyer is seeking a qualified firm to conduct an annual audit of the Sinking Fund Commission's financial statements. The selected auditor will express opinions on financial statements and supplementary information, test actuary information, and issue required reports. The auditor must have experience with public pension funds and follow Governmental Auditing Standards. The contract term is for one year with options to extend for up to four additional years.

• 2/3/2025 - RFP Issue Date
• 3/3/2025 - Deadline for Questions
• 3/17/2025 - Answers Posted
• 3/28/2025 - Proposal Due Date
• 6/1/2025 - Anticipated Contract Start Date

• Provide services detailed in RFP Project Details
• In business of providing auditing services for at least 3 years
• Experience auditing public pension funds for at least 3 years
• At least 2 public fund clients of similar or larger size
• Ability to audit in accordance with Governmental Auditing Standards
• Demonstrated independence from the Fund without ethical conflicts
• Majority of senior professionals have 7 year track record auditing public pension funds

• Conduct annual audit of Fund's financial statements
• Express opinion on basic financial statements
• Provide 'subject to' opinion on required supplementary information
• Test information provided to the actuary
• Issue Independent Auditors' Report
• Issue Report on Internal Control over Financial Reporting
• Present audit findings at public Commission meeting
• Meet with Sinking Fund and PGW employees for information gathering
• Coordinate with PGW to gather and test payroll data
• Confirm all expenses paid by Sinking Fund for audit year