Financial Statement Audit Services

The Vendor is required to provide financial statement audit or the fiscal years ending September 30, 2027, 2028, 2029, with options to renew for fiscal years ending September 30, 2030, and 2031.
- Financial statement audit
• The city expects the selected firm to issue an opinion on the general-purpose financial statements at September 30th.
• If during the performance of the audit, the auditing firm concludes an unmodified opinion cannot be issued, the auditing firm must promptly notify the mayor and the finance director-treasurer in writing, stating all such matters which preclude the issuance of an unmodified opinion.
• Year-end closing of accounts payable will normally be completed by the last business day of October of the following fiscal year.
• Within 15 business days of closing accounts payable, a trial balance will be submitted to the audit firm and city staff will begin preparing the annual comprehensive financial report (ACFR) based on the trial balance submitted to the audit firm.
- Single audit
• Due to the amount of federal and state grants, a single audit is required, and the schedule of expenditures of federal awards report is to be prepared as part of the ACFR and should include the applicable reports on compliance and internal control as required by title 2 country code of federal regulations part 200 uniform administrative requirements, cost principles, and audit requirements for federal awards.