Auditing Services

The vendor is required to provide auditing services for include:
- Financial forecasting and documentation
•    Document the end-to-end operational structure of the last budget cycle, identifying all stakeholder roles, responsibilities, required artifacts (files and documents), and interdepartmental communication channels to establish a current baseline for the process. 
•    Review the existing organizational structure, including the clarity of roles, responsibilities, and reporting relationships, to assess their alignment with effective governance and oversight requirements and overall compliance. 
•    Determine relevant annual budgeting and forecasting regulations, statutes, policies, processes and procedures, and evaluate key stakeholders’ awareness and understanding of requirements. 
•    Utilize a waterfall analysis approach to analyze and confirm the $16 million financial shortfall, providing a clear breakdown of the variance that attributes the total amount of the root revenue and expense components. 
•    Evaluate the accuracy and completeness of forecasts, across the various revenue sources. 
•    Determine if expenditure projections are consistent with historical patterns, contracts, and commitments. 
•    Assess whether new initiatives or one-time items were properly budgeted.
•    Review the adequacy of documentation supporting key assumptions.
•    Examine the process for how forecasts are formally reviewed and approved by senior leaders and key stakeholders.
- Monitoring and variance analysis
•    Evaluate the timeliness and effectiveness of budget-to-actual monitoring by management and the board. 
•    Assess whether variance explanations are supported by appropriate documentation. 
•    Confirm whether significant variances are identified early, and corrective actions are discussed, considered and implemented. 
•    Assess the adequacy, accuracy, and transparency of internal communication and reporting. 
•    Audit the drivers and rationale underlying the dramatic change observed in the balance or use of the contingency fund, examining specific transactions and approvals that contributed to the shift.
- Data-driven risk analysis
•    Perform a comprehensive analytical risk assessment across all major budget categories (e.g., personnel, instruction, transportation, facilities, food service, etc.) to identify and prioritize those areas exhibiting the highest financial impact and most significant budget variances. 
•    Perform data-driven transaction analysis, utilizing large transaction download files that enable 100% transaction and entry analysis, and applying techniques like law (or similar), to effectively identify patterns or anomalies indicating the need for deeper audit pursuit across large data sets. 
•    Review and outline the key drivers that have led to the district’s current financial condition.
•    Formally evaluate the necessity of deeper forensic procedures based on the patterns, anomalies, or risks identified.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: November 4, 2025