The vendor is required to provide an annual audit be completed and final audit reports (inclusive of all audit communications) related to the financial statements be delivered to the municipality, state auditor general and state director of revenue within six months after the close of the fiscal year for each year.
- The city with a fiscal year ending june 30, the reports must be filed by december 31 of each year.
- The audit organization and the individuals responsible for planning, directing, conducting substantial portions of the fieldwork, or reporting on government audits shall meet the continuing educational requirements of government auditing standards issued by the comptroller general of the united states.
- The audit organization shall have an appropriate internal quality control system in place and participate in an external quality control review program as required by government auditing standards.
- Financial statements, schedules and information, including:
• Government-wide financial statements
1. Statement of net position
2. Statement of activities
- Fund financial statements for governmental funds
1. Balance sheet
2. Statement of revenues and other financing sources, expenditures and other financing uses, and changes in fund balances
3. Reconciliation of the statement of revenues, other financing sources, expenditures other financing uses and changes in fund balances of governmental funds to the statement of activities
- Fiduciary funds
1. Statement of net position
2. Statement of changes in net position
- Notes to financial statements
- The auditor shall also be responsible for performing certain limited procedures, as required by generally accepted auditing standards, involving required supplementary information mandated by the governmental accounting standards board.
- Contract Period/Term: 3 years