Financial Audit Services

The vendor is required to provide an annual audit engagement period shall cover the fiscal year ending December 31, 2025 and render an opinion on the financial statements for the year then ended.
- The audit will be conducted in accordance with generally accepted auditing standards, the single audit act of 1984, the single audit act amendments of 1996 and related OMB circular a-133.
- At the conclusion of the audit, a senior representative of the firm shall meet with the county legislature, and additionally present the audit findings to the county legislature along with recommendations for improving the county’s systems of internal control.
- The county possesses virtual capabilities that do not require the full scope of the audit to be completed in-house.
- Required tasks include but are not limited to:
• Render an opinion on the county’s basic financial statements;
• Issue a report on the county’s compliance with rules, regulations and contracts and internal control over financial reporting;
• Issue a report on the county’s major federal programs’ compliance with federal regulations and internal control over compliance;
• Issue a report on the county’s schedule of expenditures of federal awards;
• Issue an agreed upon procedures report on the consolidated fiscal report of the county’s department
• Issue an agreed upon procedures report on the consolidated fiscal report of the county’s department of social services;
• Issue an agreed upon procedures report on the county’s jail commissary;
• Issue a management letter to report findings, issue recommendations for improving internal controls within the county, and provide the audit committee with other valuable information regarding ulster county;
• Render an opinion on the basic financial statements of the ulster tobacco asset securitization corporation (UTASC);
• Issue a report on units and a blended component unit (UTASC’S) compliance with rules, regulations, and contracts and internal control
over financial reporting;
• Issue an agreed upon procedures report for the resource recovery agency (RRA);
• Prepare us form sf-sac “data collection form for reporting on audits of states, local governments and non-profit organizations” and submit to the federal audit clearing house;
• Perform the state department of transportation (NTSDOT) state single audit and prepare the required written report;
• Issue letters of required communications under professional auditing standards to the ulster county legislature and the UTASC board of directors; and,
• Issue any and all other reports as required under professional auditing standards and as required to be in compliance with accounting principles generally accepted in the country applicable to governmental units, as prescribed by the governmental accounting standards board (GASB).
- Fiscal year 2025 budget of about $476 million.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: April 22, 2025