Annual Financial Audit Services

The Vendor is required to provide financial audit of annual comprehensive financial report (ACFR) for each of the fiscal years during the contract term.
- Provide independent audit services that ensure accuracy, transparency, and compliance with the city’s financial reporting.
- Enter a three-year contract to conduct annual audits, with an optional one-year extension based on performance and the city’s needs. 
- This engagement is intended to strengthen financial oversight and support the city’s ongoing commitment to responsible fiscal management.
- Finance department
•    The finance department is under the general direction of the finance director. 
•    The finance director oversees the day-to-day operations of accounting, treasury, income tax, purchasing, and payroll. 
•    The accounting operations includes the maintenance of the general ledger, fixed assets, accounts payables, and budgeting; the treasury function maintains the city’s cash, property tax collections, banking transactions; the purchasing function maintains the city’s procurement transactions, contract documents, and solicitations; the income tax function maintains the city’s income tax collections; the human resources department processes bi-weekly payroll distribution and completes the calculations for flexible spending and healthcare savings plan, and the defined benefit payments to MERS under the direction of finance.
•    The accounting and treasury staff prepare the audit work papers and auditor provides work templates with proper instructions as used by auditor for the completion of the city’s annual financial report.
•    Provides information to the auditor who prepares the supplemental information for the statements, notes, statistical section, and other required supplemental information per the audit schedule by implementing all required governmental accounting standards board (GASB) statements.
•    Auditor will attend a preliminary and post-audit meeting with the city’s administrative team.