Financial Statement Preparation and Audit Services

The Vendor is required to provide financial statement preparation and audit services of funds appropriated and expended during the 2025-2026 fiscal year, with four (4) additional, one (1) year optional renewals to audit fiscal years 2026-2027, 2027-2028, 2028-2029, 2029-2030.
- Financial statement compilation
• Prepare working trial balance and period-end closing entries including cash to accrual conversion and prior period reversing entries.
• Develop the annual financial statement in accordance with instructions issued by the finance and administration cabinet.
• A draft copy of the year-end financial statements and closing package to CPE and discuss its contents with representatives of that office no later than September 1.
- Audit services
• Auditor of public accounts (APA) is required to be in direct communication with component unit auditors as required for the group audit of the ACFR.
• APA of the CPA firm (contract name, address and phone number) under contract for audit services for the year ending June 30, 2026 shall be made upon selection of the independent CPA firm.
• APA requires specific terms and conditions to be included in the council’s contract with an outside independent auditor.
• Management will be responsible for approving the closing entries and supplying journal entries for the current year.