Request for Proposal

The Board of Trustees of Wiregrass Electric Cooperative (WEC) solicits your proposal to provide four and/or six-year consecutive annual audits of the financial statements, beginning with the statements dated April 30, 2025.

RFP’s may be returned to Wiregrass Electric Cooperative by email to mdixon@wiregrasselectric.coop, U.S. mail, UPS, Fed-Ex or hand delivered. WEC must have proposals from interested parties by 5:00 P.M August 31st, 2024.

Please submit proposals to the following address:
Wiregrass Electric Cooperative
509 N. State Hwy 167
Hartford, AL 36344 (if by hand, UPS or FedEx)
P.O. Box 158
Hartford, AL 36344 (if by mail)

Please refer to the Code of Federal Register (CFR) Part 1773 and its subparts, which provide the RUS (Rural Utilities Service) policies concerning audits of electric cooperatives, which are borrowers of RUS funds. Your proposal must confirm that you meet all qualifications set forth Part 1773, Subpart B – 1773.5, Qualifications of CPA. While cost is an important consideration, depth and breadth of experience with Electric Cooperatives, who are RUS borrowers will be weighed heavily in selecting the audit firm.

If you need additional information, please contact Misti Dixon, Vice President of Finance & Accounting, at Wiregrass Electric Cooperative (334) 944-7105.

Sincerely,
Brad Kimbro, CEO
Wiregrass Electric Cooperative

Introduction

Wiregrass Electric Cooperative (WEC) is committed to providing quality electrical service as well as improving the quality of life of its consumers through a variety of programs and services available to all consumers.

WEC tackled the massive job of bringing electricity to rural areas of Southeast Alabama (the Wiregrass) more than half a century ago. Today, through the use of innovative technology, the Cooperative is leading the way in assuring a progressive future amid new challenges posed by the 21st century. However, the principle on which it was organized in 1939 remains unchanged — created by people, for people.

WEC has put technology to work throughout the company with the introduction of the AutoMeter Program. Through substation upgrades and conversion of each meter to a digital automated meter that can be read by a remote computer, the Cooperative reports benefits to include employee and cooperative efficiency and cost-effectiveness while delivering improved customer service to all consumers.

The goal when WEC was formed in 1939 was to serve the electrical needs of rural areas which the large power companies found unprofitable. Now, with electricity commonplace and taken for granted except on occasions when a power outage occurs, the Cooperative is involved in meeting the needs of its consumers in a high-tech, less rural world.

Locally owned and controlled by the members it serves, WEC provides electric service to over 19,000 consumer-members in Houston and Geneva Counties in Alabama and parts of Dale, Coffee, Covington, and Henry Counties with over 3,200 miles of line. Daily business of the Cooperative is carried out at its headquarters in Hartford and at the district offices located in Dothan, Ashford, and Samson. Currently, the Cooperative has a total of 60 employees.

For additional information about Wiregrass Electric Cooperative please visit our website.

Timetable

WEC expects to adhere to the timetable shown below. It should be noted, however, that the target dates are approximate and subject to change without notice.

Release of RFP: July 01, 2024

Proposal(s) due: August 31, 2024

Award Date: October 31, 2024

Start Date: Preliminary audit work can begin immediately following award date.

Audit Requirements

1. Conduct an annual audit and provide an opinion on the fair presentation of the financial statements of WEC in accordance with generally accepted accounting and auditing standards for the years ending April 30, 2025, 2026, 2027 and 2028. Please prepare both a four-year and sixyear contract option for proposal. This will include a report on compliance with applicable laws and regulations, an internal control report to management communicating reportable conditions found during the audit and when applicable, a single audit report.
2. The auditor will have the final audited financial report completed no later than the first week of July. The auditor will be responsible for the preparation, editing, printing, and assembly of the financial statements and footnotes.
3. The auditor will present the audit findings to the Board of Directors at the July board meeting.
4. WEC’s staff will be available to assist the auditors during the audit process and will provide supporting documentation as requested. As part of this audit response, WEC requests that the auditor provide a list of any required schedules that the staff of WEC will be expected to prepare as part of the audit.
5. Complete and file the Annual IRS Form 990 for WEC for the calendar year ending 2024, 2025, 2026 and 2027. Please prepare both a four-year and six-year contract option for proposal.
6. The auditor shall keep WEC informed throughout the year of any new requirements and/or changes in financial reporting disclosures and/or IRS regulations.

Proposals should include:

• Number and nature of the professional staff to be employed in the engagement
• Overview of the firm
• Number of employees at the firm
• Number of utilities audited by the firm
• Number of electric utilities audited by the firm
• Number of electric cooperatives audited by the firm
• Three references of electric cooperatives (include name, address, phone, and contact name)
• Estimated time on-site
• All-inclusive price for periods requested
• Breakdown of pricing for the following annual services:
  • Audit
  • IRS Form 990
  • Out-of-pocket expenses
  • Other additional fees
• Copy of your firm’s most recent peer review report, the related letter of comments, and the firm’s response to the letter of comments.

Inquiries

Any inquiries concerning interpretation, clarification, or additional information pertaining to this RFP shall be submitted via email to Misti Dixon, Vice President of Finance and Accounting, mdixon@wiregrasselectric.coop.