The California Housing Finance Agency(CalHFA) Audit and Risk Management Committee unanimously recommended Macias Gini & O'Connell (MGO) as the agencyindependent auditors after a multi-step, competitive selection process that began earlier this year.

The committee, chaired by Dolores Sotelo, told the full board on Sept. 18 that staff issued an RFQ in June 2025, received five proposals, screened them to two finalists, and conducted standardized interviews this morning. "Both firms were very qualified, had good experience. Their approach and their team capabilities were both very strong, but there was one clear winner," Sotelo said.

The nut graf: the committeeprocess is notable because the audit committee directly participated in interviews for the first time, the committee said, and will forward a negotiated contract with MGO to be implemented without a subsequent board vote.

Committee chair Dolores Sotelo said staff expects to complete contract negotiations by the end of the year and transition to the new firm in January. "We anticipate that that process will take us through the end of the year, and hopefully, in January, we will have a new firm that's selected," she said.

The committee described the process in detail: RFQ released in June 2025, five proposals received, baseline material evaluation, two firms shortlisted for interview, eight standardized questions used in the interviews, and committee scoring leading to a unanimous recommendation of MGO. The two finalist firms named in the meeting were Ide Bailey and Macias Gini & O'Connell (MGO); the committee selected MGO.

Board members who are members of the audit committee thanked staff for a transparent process and congratulated MGO on the selection. Board counsel confirmed during Q&A that the negotiated contract will not be returned to the board for approval: "No. It's just a go. So the contract gets negotiated based on, you know, terms of the agency," Solicitor noted during the discussion.

Ending: staff said they will proceed with contract talks and bring the operational transition to the audit team and board as needed; no public comment was received on the item.