Financial Audit Services

The Vendor is required to provide annual financial audit services, beginning with the fiscal year ending June 30, 2025.
- The auditor will conduct a financial and compliance audit of the district’s annual comprehensive financial report (ACFR). 
- The ACFR will include the basic financial statements, required supplementary information, other supplementary schedules, and any necessary compliance reports.
- Applicable Audit Standards
•    Generally accepted auditing standards (GAAS) issued by the institute government auditing standards issued by the comptroller general of the country.
- Audit Service Requirements 
•    Issue an opinion on the district’s basic financial statements, covering governmental activities, each major fund, and the aggregate remaining fund information.
•    Issue an opinion on required supplementary information, including budget-to actual comparisons for major funds, combining and individual non-major fund statements, and additional schedules related to post-employment benefits (as applicable).
•    State that no opinion is being rendered on the introductory and statistical sections of the ACFR.
•    Monitor current and emerging pronouncements from the governmental accounting standards board (GASB) and provide guidance to district staff on implementation and best practices. 
•    This includes assisting the district with compliance for new GASB requirements as they are issued and offering technical advice on proper application of existing GASB guidance.
•    Provide informal consultation on tax, accounting, and financial reporting issues. 
•    If a matter requires extensive research or a formal written report, the scope, timing, and fees will be adjusted by mutual agreement. 
•    The district may require and expects to receive minor technical assistance during financial statement preparation or throughout the year to ensure proper implementation of GASB standards.
•    Assist in preparing the district’s financial statements in conformity with generally accepted accounting principles (GAAP) based on information provided by the district. 
•    This may include preparing intermediate calculations and providing recommendations related to the presentation of information. 
•    Such assistance will be provided in a manner consistent with the auditor’s independence requirements and will not include assuming management responsibilities.
•    The district will retain all management responsibilities for the financial statement preparation process and will designate a qualified individual to oversee these services, evaluate their adequacy, and accept responsibility for the results. 
•    Cooperate with successor auditors by responding to reasonable inquiries and providing access to prior working papers relevant to significant accounting matters and internal controls.  

- Contract Period/Term: 1 year