Audit Services

The vendor is required to provide an audit of all district funds be conducted annually by an independent certified public accounting firm.
- District practice has been to obtain a multi-year contract for auditing services with option renewal provisions.
- The audit shall consist of the following major activities; an audit and examination of the books, records, inventories and officers and employees of district who receive, handle, or disburse public funds for the operation of the district, including district compliance with GASB requirements, state development, LCTOP and TIRCP regulations and all activities relating to single-audit compliance and filing.
- It is anticipated that certain preliminary field work will commence prior to the end of the fiscal year (May-June), that end-of-year field work for task 5a will take place in august or early September, and that end-of-year field work for task 5b will take place in September or October.
a. District enterprise annual audit
• The auditor may suggest for further audit or examination of district books, records, inventories, officers and/or employees who receive, handle, or disburse public funds for the agency.
• Such further audit or examination would require concurrence from the district chief financial officer
• In order to express an opinion upon the financial statements of district in accordance with the enabling legislation, the auditor shall issue a final report no later than one hundred-twenty (120) days after the end of each fiscal year and shall present the final report to the board at a regularly scheduled board meeting as soon as practical following issuance of the final report, as decided by district management.
• At the time of this solicitation, the district board typically meets on the first Wednesday of each month at 10 am
• The auditing firm shall employ all generally accepted auditing standards deemed necessary by its staff.
• The audit shall be conducted in accordance with generally accepted auditing standards and shall include such tests of the accounting records and other such auditing procedures applicable in the circumstances as to enable the auditors to express an opinion upon the financial statements of district.
• Audit procedures shall be performed which encompass the financial and compliance standards described in government auditing standards, issued by the comptroller general of the country; office of management and budget circular a-133, audits of states, local governments and non-profit organizations.
• Audit procedures shall also be performed to certify conformance with all state, LCTOP and TIRCP regulations and transportation development act (TDA) regulations.
• As a CalPERS participant, district is required to make all accounting entries and disclosures required by GASB 68; the auditor is expected to provide these entries and include these disclosures in the ACFR.
• As a participant in the CalPERS health plan, district makes the minimum contribution required under Act; as such, district is required to make all accounting entries and disclosures required by GASB 74/75.
• The auditor is expected to provide these entries and include these disclosures in the ACFR; this requirement will continue to apply to any future GASB statements regarding pension or OPEB obligations and disclosures.
• The auditor shall render for the period July 1, 2025 to June 30, 2028 and for each subsequent fiscal year of the contracted period, an annual comprehensive financial report including single audit report and management letter.
• The auditor shall provide printing and document processing necessary to issue each year's acfr and will provide to district both printed and electronic (pdf) versions.
• The auditors shall provide an unqualified or qualified or a disclaimer of opinion on the financial statements to be included with each year's financial report according to the circumstances encountered.
• In addition to the final report, the auditor shall advise the board immediately of any defalcations or unusual and consequential irregularities and procedures coming to the auditor’s attention.
• The auditor shall be responsible for preparing and filing in district behalf a single audit report in compliance with the single audit act amendments of 996 and the county office of management and budget’s circular a-133, “audits of state, local governments, and non- profit organizations.
• The audit examination specified in paragraph 5.a.1 above is to be based upon tests and samples of the accounting records and transactions sufficient to satisfy the auditors of the fairness of the presentation of financial condition and operating results of district and is not to comprise a detailed examination of all transactions.
• The examination, reliance must be placed on the adequacy of the system of internal controls, and the principal safeguards against defalcations and other irregularities of the same general nature, and although auditors shall attempt to detect any or similar irregularities, auditors do not assume the responsibility for doing so.
- Contract Period/Term: 1 year
- Pre-Bid Conference (Non-Mandatory) Date: March 25, 2025
- Questions/Inquires Deadline: March 31, 2025