District of Columbia Cobblestone Systems #CFOPD-25-C-021C

Award for Auditing Services for District of Columbia 529 College Savings Plan

This award summary covers the District of Columbia's procurement of auditing services for its 529 College Savings Plan. - Government Buyer: - District of Columbia Office of the Chief Financial Officer (OCFO) - Office of Finance & Treasury (OFT) - Office of Contracts - Vendor Awarded: - WatsonRice Accountants & Advisors (Watson Rice LLP) - Services Requested: - Comprehensive auditing services for the District's 529 College Savings Plan (Component III) - Includes financial statement audits, participant account reviews, marketing budget verification, and surprise inspections of securities - Preparation of annual financial statements and agreed-upon procedures reports - Labor categories: Partner/Principal, Manager, Senior auditor, Semi Senior auditor, Staff (fixed hourly rates) - Notable Requirements: - Collaboration with District staff to ensure all requirements are met - Strict compliance, reporting, and insurance requirements - Adherence to GASB standards - Deliverables due annually (specific reports by December 15 and February 28) - Contract Value: - Not-to-exceed $950,000 per base period - Cumulative maximum $1,900,000 including all option periods - Period of Performance: - One-year base period with six one-year option periods and possible emergency extensions - No specific product part numbers or quantities, as this is a professional services contract - Only Watson Rice LLP is mentioned; no OEMs or competing vendors listed

Description

The District of Columbia Office of the Chief Financial Officer, Office of Contracts, on behalf of the Office of Finance & Treasury (OFT), requires the Contractor to provide audit services for its 529 College Savings Plan (Component III). The contract includes six option periods of one year each, with one option exercised for the term from September 5, 2026 to September 4, 2027. The contractor will work in conjunction with District staff to ensure all requirements are implemented. The contract has a not-to-exceed value of $950,000 for the base period, with a cumulative maximum value of $1,900,000 including options.

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