NEA Awards $91.18M Contract for Financial Audits Over 5 Years
Contract Overview
Contract Amount: $91,181 ($91.2K)
Contractor: Harper Rains Knight & CO PA
Awarding Agency: National Endowment for the Arts
Start Date: 2026-04-08
End Date: 2026-12-31
Contract Duration: 267 days
Daily Burn Rate: $342/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 6
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: TO CONDUCT THE FINANCIAL STATEMENT AND DATA ACT AUDITS FOR THE BASE YEAR AND FOUR OPTION YEARS (1/1/26 - 12/31/30)
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20506
Plain-Language Summary
National Endowment for the Arts obligated $91,181.31 to HARPER RAINS KNIGHT & CO PA for work described as: TO CONDUCT THE FINANCIAL STATEMENT AND DATA ACT AUDITS FOR THE BASE YEAR AND FOUR OPTION YEARS (1/1/26 - 12/31/30) Key points: 1. Contract awarded to HARPER RAINS KNIGHT & CO PA for financial statement and data act audits. 2. The contract spans from January 1, 2026, to December 31, 2030, covering a base year and four option years. 3. The National Endowment for the Arts (NEA) is the awarding agency. 4. The North American Industry Classification System (NAICS) code is 541211, indicating Offices of Certified Public Accountants.
Value Assessment
Rating: good
The contract value of $91.18 million for a 5-year audit period appears reasonable given the scope. Benchmarking against similar government-wide audit contracts would provide a more precise assessment.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, suggesting a robust price discovery process. This method typically leads to competitive pricing.
Taxpayer Impact: Taxpayer funds are being used efficiently through a competitive bidding process for essential financial oversight services.
Public Impact
Ensures financial accountability and transparency for the National Endowment for the Arts. Supports compliance with the Financial Statement and Data Act. Provides independent assurance on the agency's financial health. Contributes to public trust in government financial management.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for cost overruns if audit scope expands beyond initial projections.
- Reliance on a single firm for critical financial audits over an extended period.
Positive Signals
- Awarded through full and open competition.
- Firm Fixed Price contract type provides cost certainty.
- Long-term contract allows for continuity and institutional knowledge.
Sector Analysis
The accounting and auditing services sector is crucial for government financial integrity. This contract aligns with typical spending for comprehensive financial statement and data act audits for federal agencies.
Small Business Impact
The contract was awarded to HARPER RAINS KNIGHT & CO PA, a certified public accounting firm. There is no indication of small business participation in this specific award.
Oversight & Accountability
The contract is subject to standard government oversight mechanisms for financial audits. The NEA will monitor performance to ensure compliance and quality.
Related Government Programs
- Offices of Certified Public Accountants
- National Endowment for the Arts Contracting
- National Endowment for the Arts Programs
Risk Flags
- Potential for scope creep impacting final cost.
- Reliance on a single contractor for a critical function.
- Lack of explicit performance metrics in the award data.
- No indication of small business subcontracting opportunities.
Tags
offices-of-certified-public-accountants, national-endowment-for-the-arts, dc, delivery-order, under-100k
Frequently Asked Questions
What is this federal contract paying for?
National Endowment for the Arts awarded $91,181.31 to HARPER RAINS KNIGHT & CO PA. TO CONDUCT THE FINANCIAL STATEMENT AND DATA ACT AUDITS FOR THE BASE YEAR AND FOUR OPTION YEARS (1/1/26 - 12/31/30)
Who is the contractor on this award?
The obligated recipient is HARPER RAINS KNIGHT & CO PA.
Which agency awarded this contract?
Awarding agency: National Endowment for the Arts (National Endowment for the Arts).
What is the total obligated amount?
The obligated amount is $91,181.31.
What is the period of performance?
Start: 2026-04-08. End: 2026-12-31.
What is the historical performance of HARPER RAINS KNIGHT & CO PA with federal contracts?
Information on HARPER RAINS KNIGHT & CO PA's historical performance with federal contracts is not provided in the data. A review of past performance, including any past performance evaluations or contract awards, would be beneficial to assess their reliability and track record in delivering similar services to government agencies.
Are there any specific performance metrics or KPIs tied to this audit contract?
The provided data does not specify performance metrics or Key Performance Indicators (KPIs) for this audit contract. Establishing clear, measurable KPIs related to audit timeliness, accuracy, and adherence to professional standards is essential for effective oversight and ensuring the quality of the financial audits performed.
How does the $91.18 million total contract value compare to similar audit contracts for agencies of the NEA's size?
Benchmarking this $91.18 million contract against similar audit contracts for agencies of the National Endowment for the Arts' size and scope is crucial for assessing value. Without comparative data on the cost per audit hour or per dollar of agency budget audited, it is difficult to definitively determine if this represents optimal pricing or if there is potential for cost savings.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Accounting, Tax Preparation, Bookkeeping, and Payroll Services › Offices of Certified Public Accountants
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Offers Received: 6
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 1052 HIGHLAND COLONY PKWY, RIDGELAND, MS, 39157
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $522,315
Exercised Options: $91,181
Current Obligation: $91,181
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: 47QRAA22D002C
IDV Type: FSS
Timeline
Start Date: 2026-04-08
Current End Date: 2026-12-31
Potential End Date: 2030-12-31 00:00:00
Last Modified: 2026-04-09
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