The vendor is required to provide auditing services for the financial audit of the annual comprehensive financial report and procurement agreed upon procedures engagement for fiscal years ending 2025, 2026, and 2027.
- Firm is expected to fulfill all duties as directed by the senior chief financial officer; the district desires the auditor to express an opinion on the fair presentation of its financial statements that collectively comprise the basic financial statements.
- Audit/report requirements
• Reports are to be addressed to the board of trustees; the agency management letter and any agreed upon procedures letters are to be addressed to the superintendent.
• Preliminary audit work may begin during the final quarter of the fiscal year (April – June).
• Provides a “to be prepared by client” listing at least three weeks prior to the arrival of the audit team for both the interim and final fieldwork.
• Provides periodic briefings during on-site work with the senior chief financial officer and the director of accounting whenever appropriate.
• Includes pupil activity in its audit sample for testing
• Prepares independent auditor’s report on the financial statement as set forth in government statement no. 34.
• Prepares government-wide financial statements and reconciliations to governmental fund statements.
• Prepares proprietary fund financial statements and related note disclosures.
• Prepares note disclosures related to pensions, agency, and unamortized bond premiums.
• Assist the district in preparing the management’s discussion and analysis (MD&A); the district staff shall prepare the letter of transmittal.
• Prepares independent auditor’s report on internal controls over financial reporting and compliance and other matters.
• Prepares independent auditor’s report on compliance for each major program and on internal control over compliance.
• Prepares schedule of findings and questioned costs.
• Advises, as necessary, on related accounting and reporting concerns
• The district will send its agency to the government and school business for review in each organization’s certificate of excellence in financial reporting program; the auditor will be required to review the agency for compliance with government and office requirements for submission to the award programs and provide special assistance to the district to respond to prior year comments.
• The district currently anticipates it will prepare official statements in connection with the sale of debt securities, such as bonds and bank, which will contain the general purpose financial statements and the auditor’s report thereon. if the auditor is required to issue a “consent and citation of expertise” as the auditor, this and any necessary “comfort letters” must be issued at no cost to the district.
• Prepares the audit submission to the federal audit clearinghouse.
• Arranges a conference with the appropriate district representatives if the examination requires that a management letter be issued to discuss the proposed management letter and an opportunity will be granted for a response to be made; this conference may be scheduled as a preliminary exit conference.
- Contract Period/Term: 3 years