Financial Audit Services

The vendor is required to provide public accounting firms for auditing services for its annual financial statements for fiscal years ending June 30, 2025 through June 30, 2027, with the option of auditing its annual financial statement for each of the two subsequent fiscal years.
- The firm will perform an audit of all funds and financial statements of the city.
- The audit will be conducted in accordance with auditing standards generally accepted in the states and government auditing standards, issued by the comptroller of the states.
- The firm shall prepare accounting and reporting schedules to comply with all provisions of board statements reporting requirements; including but not limited to the following:
a) All calculations and provision of journal entries
b) All requirements for note disclosures.
c) All requirements for required supplemental information (RSI).
- The auditors shall observe the adequacy of the systems of internal control, accounting procedures and other significant observations.
- The single audit report will include appropriate schedule of expenditures of federal awards, footnotes, findings, and questioned costs, including reportable conditions and materials and weaknesses, and follow up on prior audit findings where required.
- The firm shall perform agreed-upon procedures pertaining to the city’s article XIIIB limit (appropriations limit) and render a letter annually to the city regarding compliance.
- The firm will be required to provide special assistance to meet the requirements of the association certificate of achievement for excellence in financial reporting program; it is the city’s intention to continue to receive the award and will expect the ACFR to meet the requirements of the programs.
- The firm may be consulted throughout the year as an information resource and may be asked to provide guidance on implementing federal and state regulations as they may affect local government accounting; this would not include any task that entails significant research or a formal report.
- It is expected that the selected firm will keep the city informed of new guidance and developments in accounting principles and pronouncements that may affect municipal accounting and finance and their impact on the presentation, scope, and disclosure of the city’s financial report.
- Management is not aware of any unusual circumstances warranting an extended scope; however, if in due course of the examination evidence of such circumstances occurs, the auditors shall agree to provide the city with all ascertainable facts relative to such circumstances together with an estimate of additional services required and the additional cost thereof in order that proper contract modifications may be completed before commencing with such extended examination.
- Government with an annual General Fund budget of $189.9 million and a total budget of $239.8 million for fiscal year 2024-2025.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: March 17, 2025