REQUEST FOR PROPSALS
PROFESSIONAL AUDITING SERVICES
TOWN OF RANGELEY
The Town of Rangeley (hereinafter called the Town) is requesting proposal from qualified Certified Public Accounting Firms to audit its financial statements for the fiscal year ending June 30, 2019. (Two (2) additional one (1) year renewal options will be considered contingent upon mutual agreement of both parties.)
- General Information
The Town of Rangeley, located in Franklin County, is requesting proposals from qualified Certified Public Accounting Firms to audit the Towns financial statements for the fiscal year ending June 30, 2019. Two (2) additional one (1) year renewal options will be considered contingent upon mutual agreement of both parties.
- Scope of Work to be Performed
- The Town desires the auditor to express an opinion on the fair presentation of its general purpose financial statements in conformity with general accounting principles.
- The financial statements shall be evaluated for conformity with generally accepted accounting principles and for compliance with state and federal laws.
- The audit shall be a financial and compliance review of all account and funds of the Town.
- The audit firm shall submit a written report, containing an expression of opinion regarding the financial statements of the Town.
- The audit firm shall submit a management letter, which shall identify management and internal control weaknesses, if any, and propose steps to correct them.
- The audit firm is expected to assist the Town with preparation of the financial statements and supplementary schedules in accordance with generally accepted accounting principles. 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. (Pre-audit checklist provided to Town by Audit Firm)
- The audit firm shall agree to make available its working papers upon request to meet any municipal financial needs, or Federal and State requirements.
- The auditor shall meet with the Town’s staff at the conclusion of the audit to review the auditor’s findings. At least one additional public meeting with the Board of Selectmen will also be provided.
- 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. Assistance requested by authorized agents of the Town and requiring substantial time on the part of the auditor (over one hour in any given week) is to be considered beyond the scope of the services, and will be billed at the auditor’s regular hourly rate. This does not include the actual audit or pre-audit.
- The audit firm shall provide seven (7) printed copies of the auditor’s report, the financial statements and schedules, and the management letter. An electronic version will also be provided.
- The audit firm shall furnish adjusting entries and a beginning Trial Balance for General Ledger accounts within ninety (90) days of the close of the fiscal year.
- Pre-audit work is to be scheduled to begin in April or May of the fiscal year being audited and the audit to commence after the close of the fiscal year.
- Instructions for Proposals
Your Proposal must include the following information at minimum:
- Include a summary of qualifications to perform a municipal audit. The auditor’s proposal and qualifications must include a description of the audit firm and a summary of its prior experience. The individual assigned to audit the Town must have a minimum of three (3) years municipal audit experience gained within the last ten (10) years. Also include a list of local government entities to whom you are currently providing audit services, including names, addresses and phone numbers.
- Provide a summary of the methodology to be used in performing the audit which should include a brief description of audit procedures. This information should be presented in a format that enables the Town to evaluate the firm’s ability to identify, evaluate, and communicate on local governmental financial problems.
Interested accounting firms need to submit two (2) copies of the proposals and they shall be submitted in a sealed envelope marked “Town of Rangeley Audit Proposal”. Send or deliver to the Town of Rangeley no later than May 30, 2019 at 10:00 AM at which time bids will be publically opened and read out loud. Results will be given to the Board of Selectmen at their duly called meeting on Monday June 17, 2019. Send or deliver to:
Town of Rangeley
Rebekah Carmichael, Finance Director
15 School St
Rangeley, ME 04970
The proposal must indicate the maximum total fee your firm will charge for the audit services outlined in this Request for Proposal. Please break the fee down in the following categories:
- Total Audit
- Regular Hourly Rate
- Further Information
The Board of Selectmen 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 firm.
All questions and request for information should be directed to Rebekah Carmichael, Finance Director, (207) 864-3326 ext. 101.
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