Audit Services

The Vendor is required to provide independent certified public accounting firms to annual financial statement audit services, including the required single audit and STIF (state transportation improvement fund) agreed upon procedures, in accordance with applicable state law and current generally accepted auditing standards.
- Annual comprehensive financial report (ACFR) for council
• The annual comprehensive financial report (ACFR) is prepared to conform fully to generally accept accounting principles (GAAP) and to be in full compliance to the pronouncements of the governmental accounting standards board (GASB) and the financial accounting standards board (FASB), and disclosures required by state regulations as appropriate.
• Responsible for the preparation and fair presentation of the financial statements in accordance with generally accepted accounting principles.
• Auditor may assist in drafting the financial statements and related notes, provided such assistance complies with applicable independence requirements.
• The auditor shall complete fieldwork and provide draft financial statements, draft required reports, and a draft management letter no later than November 1, of each year and assist with preparing the financial statements so council receives the certificate of achievement for excellence in financial reporting award program.
- Report on the single audit
• Subject to the additional audit requirements imposed by the uniform single audit act of 1984 and uniform guidance.