The Vendor is required to provide for the professional services of a certified public accountant (the "auditor") for compliance and financial audits.
- To determine whether the financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information and the respective changes in financial position and, where applicable, cash flows, thereof [and the respective budgetary comparison for the general fund, hotel/motel tax fund and car rental fund in conformity with accounting principles generally accepted in the states.
- To determine whether the combining and individual non- major fund financial statements are fairly stated in all material respects in relation to the basic financial statements taken as a whole.
- To obtain an understanding of the five components of internal control; that is sufficient to assess the risks of material misstatement of the financial statements whether due to error or fraud, and to design the nature, timing, and extent of further audit procedures.
- The auditor should obtain a sufficient understanding by performing risk assessment procedures to (a) evaluate the design of controls and (b) determine whether they have been implemented.
- The auditor should use such knowledge to identify types of potential misstatements; consider factors that affect the risks of material misstatement; and design tests of controls, when applicable, and subsequent procedures.
- In acquiring an understanding of and assessing internal control, the auditor should consider computer controls as well as the controls over manual portions of the system.
- To plan and perform the audit to obtain reasonable assurance about whether the financial statements, including note disclosures, are free of material misstatement, whether caused by error or fraud, and material misstatements arising from illegal acts that have a direct and material effect on the determination of financial statement amounts.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: May 8, 2025