Town of Cumberland- RFP Audit Services

Start Date: June 20, 2024
End Date: June 30, 2024
Type: Requests for Proposals (RFP)
Phone: 207-558-9122
Email: kjohnston@cumberlandmaine.com

GENERAL INFORMATION

The Town of Cumberland is requesting proposals from qualified Certified Public Accounting Firms to perform the Year End Audit Services for the Town of Cumberland’s funds and account groups. The auditing services shall be conducted in accordance with generally accepted auditing standards.

The Town of Cumberland, located in Cumberland County, has a population of approximately 8,473 and has an annual budget of approximately $15 million excluding education. The Town has a Council /Town Manager form of government and operates on a July–June Fiscal Year. Audit start date is negotiable however preferable in the month of August. Only sealed proposals will be accepted. Proposals that are faxed or emailed will not be considered.
. AUDIT SPECIFICATIONS

Please indicate in your proposal if you agree to meet the following specifications. Explain any exceptions.

1. The audit shall be conducted in accordance with generally accepted auditing standards.

2. The audit shall be a financial and compliance review of all accounts and funds of the Town.

3. The audit firm shall submit a written report, containing an expression of opinion regarding the financial statements of the Town.

4. The audit shall cover the fiscal year starting July 1, 2023 and ending June 30, 2024. The Town of Cumberland shall entertain a multi-year auditing proposal not to exceed a three year time period.

5. The audit firm shall submit a management letter, which shall identify management and internal control weaknesses, if any, and propose steps to correct them.

6. The audit firm is also expected to assist the Town with the preparation of the financial statements and supplementary schedules in accordance with generally accepted accounting principles.

7. The audit shall be conducted to satisfy the requirements of the State of Maine Department of Audit and Title 30-A M.R.S.A., § 5823.

8. The Town views its engagement of an audit firm as an ongoing professional relationship in which the firm is expected to provide consultation services as required on auditing, accounting and other financial management concerns throughout the year.


9. The audit firm shall provide seven (7) copies of the auditor’s report, the financial statements and schedules, and the management letter.


C. INSTRUCTIONS FOR PROPOSALS

Proposals shall be received no later than Noon on Monday July 1, 2024 at the Cumberland Town Office. Proposals will be opened on Tuesday, July 2, 2024 at Noon and results will be presented to the Town Council at their duly called Meeting on Monday, July 8, 2024. All proposals shall be in a sealed envelope marked “Audit Proposal” and sent to:

Town of Cumberland
Katharine Johnston, Finance Director
290 Tuttle Road
Cumberland, ME 04021

Your proposal must include the following information at minimum:

1. A brief description of your firm and its municipal experience and a description of the senior personnel to be assigned to the engagement, including their resumes;

2. Complete answers to questions in Section B;

3. A brief description of the audit procedures to be followed, presented in a form that will aid in evaluating your firm’s understanding of local governments and their financial problems;

4. A statement of your demonstrated abilities to act as an advisor and communicate in a clear and concise manner with management;

5. Demonstrated ability to thoroughly explain your reasoning behind requesting/suggesting changes to be made;

6. A listing of all Towns for whom you audited in the prior fiscal year; and

7. The maximum total fee your firm will charge for the requested services. The proposal must also include the price for an A-133 audit as a separate item. Final payment shall become due only after the submission of all required reports.



D. EVALUATION

The Town shall evaluate the proposals on the basis of the qualifications, relevant experience, and responsiveness of the bidders, as well as the estimated cost of the engagement. Cost will not be the only determining factor for the award of this proposal.

E. FURTHER INFORMATION

The Town Council reserves the right to reject any or all proposals. The Town reserves the right to terminate the engagement after completion of any audit year, upon written notice to the firm.

Prior audits are available upon request. All questions and requests for information should be directed to Katharine Johnston, Finance Director, at kjohnston@cumberlandmaine.com.