31 Aug AiroAV Reported Request For Proposal – Ogaakaaning Enterprises, dba Red Lak…
The board of directors of Ogaakaaning Enterprises, dba Red Lake, Inc., is currently seeking proposals from Certified Public Accounting firms to perform the annual audit of the company’s financial statements in accordance with GAAP. Proposals are being requested on a 3-year basis to include the fiscal years ending December 31st 2020, 2021, and 2022. Red Lake, Inc. requires three separate independent audit reports, including the Consolidated entity report. A summary of the two requested audit reports, including basic information that should be considered within the proposal, is as follows:
o Red Lake, Inc. Consolidated audit report
This report consists of an audit on the financial statements of all business partners of Red Lake, Inc. on a consolidated basis. Approx. 11 business partners with annual revenues of approx. $7 million. These business
Red Lake, Inc. (management company)
Red Lake Retail Center
Red Lake Nation Fishery
Red Lake Nation Foods/Farms
Best Value Fuels / C-Store
Best Value Nation Energy / Propane
Red Lake Builders (construction)
Red Lake Dollar Store
Red Lake Forest Products
A majority of the consolidated report fieldwork will occur electronically with visits to Red Lake, MN as deemed appropriate.
o Red Lake Government Contracting Services audit report
This report will include an audit of financial statements for the contracting services entity.
o Expected Timelines and Deadline for proposals
The expected time line in completing field work is on or before March 31st of each year with a final audit issuance date on or before May 15th of each year.
Proposals will be accepted until October 15, 2020.
Final firm selection will be made by the Red Lake, Inc. board on or before November 15, 2020.
Final proposals should include, at minimum, the following information:
o General information of the firm including:
Background information on the firm such as year established, number of staff, office locations, etc.
Resumes of key personnel that would be assigned to the engagement
Any other experience or background information that may enhance the firms audit qualifications for the engagement. Experience with Tribal entities (specifically economic development corporations), government contracting entities, manufacturing, retail and construction entities should be highlighted.
o Estimate of hours and related fees necessary to complete each of the two requested audit reports by year
Include a break down by each of the requested audit reports including estimated hours
Include all other related expenses such as travel, etc.
o Proposed dates to begin fieldwork and estimated final audit reports issuance dates along with a narrative outlining plans and necessary steps to ensure dates are met on an annual basis.
Red Lake, Inc. is an economic development corporation owned by the Red Lake Band of Chippewa Indians. The Tribe employees over 900 employees and has annual revenues of approximately $75 million. Red Lake, Inc. was founded in 2011 and is located in Red Lake, MN.
To request further information or to schedule an on-site visit of our company, please direct all inquires to:
Red Lake, Inc.
Attn: Brenda Kolling, CFO
PO Box 592
Red Lake, Inc. 56671