Financial Auditing Services

The Vendor is required to provide professionals for Financial Auditing Services.
- The District also serves a pass-through function for federal, state, and private grants for the purpose of acquiring transportation equipment or providing transportation services.
- To meet the requirements of this request for proposals, the audit shall be performed in accordance with generally accepted auditing standards as set forth by the American Institute of Certified Public Accountants, the standards for financial audits
- The proposed audit will be conducted in accordance with Government Auditing Standards for financial and compliance audits and covers the entire operations of the District for each fiscal year.
- The audit is intended to result in the expression of an opinion of the District’s general purpose combined financial statements of the various funds, including the accompanying notes to the financial statements, prepared in accordance with Generally Accepted Accounting Principles (GAAP). In addition, the audit shall result in an auditor’s:
•    Report on Internal Controls
•    Schedule of Expenditures of Federal Awards
•    Schedule of prior audit findings, with corrective action plan
•    Data collection form (Part 1)
- Financial System
•    Designing and installing uniform accounting systems for the District
•    Maintaining the District’s general ledger
•    Establishing controls over financial record-keeping
•    Ensuring compliance with accounting policy and practice, and
•    Producing the District’s annual financial report.
- The auditor must provide specific recommendations for corrective action for all findings of material weaknesses in internal controls and of noncompliance with federal laws and regulations. In addition, each finding must specify the relevant condition, criteria, cause and effect.
- The recommendations for corrective action must include the recipient department's comments on action planned or taken or an explanation describing the reason corrective action is not necessary.
- The auditor must also report on the status of corrective action taken on prior findings.