Independent Auditing Services

The vendor is required to provide for independent auditing services for financial statements as described below, to be received by the authority until 2:00 p.m. on Tuesday, July 22, 2025.
- Preparation of an independent auditor’s report as an expression of an audit opinion in conjunction with a full-scope audit of annual financial statements stating the scope of examination and that the audit was conducted in accordance with generally accepted government auditing standards as well as all applicable federal and state laws and provisions.
- Participate in the annual audit planning session and work with authority staff to establish a calendar, prepare by client list, staff assignments, and work paper format.
- Express an opinion on the fair presentation of the respective financial position of the authority’s activities (governmental, business-type), each major fund, and aggregate remaining fund information, and the respective changes in financial position and cash flows, where applicable, thereof, and the respective budgetary comparison for the basic financial statements in conformity with accounting principles generally accepted in the united states as promulgated by the governmental accounting standards board (GASB), as well as perform limited procedures of the authority’s revenue covenant.
- Provide a report on internal control over financial reporting and on compliance and other matters based on an audit of the basic financial statements.
• Review and report on control deficiencies, significant deficiencies, and material weaknesses in internal control.
• Report on non-material weaknesses in internal control, non-material violations in finance related legal and contractual provisions, and recommendations for financial and program management improvements discovered while providing the service above, in the form of a letter to management.
• Review supplementary information required by the governmental accounting standards board included in the annual comprehensive financial report.
• Review the authority’s annual comprehensive financial report, including footnotes, and make recommendations for improvements to ensure the quality of the report in accordance with the certificate of achievement for excellence in financial reporting program outlined by the government finance officers association (“GFOA”).
- Audit work papers and reports must be retained for at least three (3) years, at the auditor’s expense, and available for examination by authorized representatives of the federal cognizant or oversight agency, federal agencies providing direct or indirect funding, the governmental accountability office and the auditee.
- The firm shall respond to the reasonable inquiries of successor auditors and allow successor auditors to review working papers relating to matters of continuing accounting significance.
• The auditor’s personnel shall be available to authority staff for answering questions or advising the authority on various accounting, tax, and employee benefits matters that may arise from time to time, throughout the term of the contract.
- The audit partner must attend an audit, finance, and budget committee meeting in May and a board of director’s meeting in June of every year to present the financial report and results of the audit to the board members.
- The auditor will, in planning and performing their audit, consider the authority’s internal control over financial reporting to determine their auditing procedures for the purpose of expressing their opinion on the financial statements.
- The auditor, as part of obtaining reasonable assurance about whether the authority’s financial statements are free of material misstatement, will perform tests of the authority’s compliance with certain provisions of laws, regulations, contracts, and grant agreements.
- The auditor will issue an independent report on internal control over financial reporting and on compliance and other matters based on their audit of the financial statements performed in accordance with the government auditing standards.
- The auditor will apply certain limited procedures to management’s discussion and analysis (MD&A) supplementary information regarding the methods of measurement and presentation.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: July 8, 2025