Travel-Related Expenses

Kentucky State University may reimburse the selected Offeror for travel (if listed in addition to the Offeror's proposal) in accordance with the KSU travel policy and rates.

The University reserves the right to modify its travel policy and rates at any time during the term of this contract, and all requests for reimbursement will be processed in accordance with the then-current policy.

Time is of Critical Importance

For various reasons, the University desires the FY 2024 audit to be completed prior to September 15, 2024. Consideration will be given to those individuals/firms that can meet the aggressive schedule.

Expected Dates for the Annual Audit Cycle

Dates are subject to change by the University, with mutual agreement by both parties:

• April: Formal engagement letter, client assistance letter and pre-audit conference.
• May: Integrated audit testing plans, preliminary fieldwork including internal control review, control testing and substantive testing; and financial aid review.
• June-July: Major field work, with status meetings.
• End of August: Draft of University audit report presented to senior management and Audit Committee and formal exit interview. Partner from the firm may be required to attend:

○ (1) an Executive Session meeting of the Board of Trustees' Audit Committee; and ○ (2) an Executive Session or Public Meeting of the Full Board of Trustees, for a final presentation and acceptance of the audit.

• September: Issuance of final Audited Financial Statements. Required delivery date of audit to the University and Auditor of Public Accounts.
• September-October: Field draft of audit report and compliance letters.
• Note: A detailed audit plan will be prepared by Contractor and after the University's approval, made available to the Audit Committee of the Board of Trustees prior to the commencement of each year's audit.

40.3 Insurance

Prior to the beginning of the contract, the Vendor will furnish Kentucky State University the Certificates of Insurance that show it has and will maintain all insurance protection (including products liability insurance) at the Offeror's expenses as set forth below. The Offeror agrees that required insurance shall not be cancelled or allowed to lapse during the term of any awarded contract without prior written notification to the University.

Minimum liability coverage must be:

Public Liability- Comprehensive General Owners, Landlords and Tenants

Bodily Insurance Liability

Each Person $1,000,000

Each Occurrence $1,000,000

Property Damage Liability $1,000,000

Products Liability

Each Person $1,000,000

Each Occurrence $1,000,000

Automobile Liability

Bodily Injury

Each Person $1,000,000

Each Occurrence $1,000,000