Town of Bridgton - Invitation To Bid - Auditing Services

TOWN OF BRIDGTON

REQUEST FOR PROPOSAL
AUDITING SERVICES

The Town of Bridgton is requesting proposals from qualified public certified accountant firms for auditing and related services for a three-year period beginning with fiscal year ending June 30, 2021. The audit firm will be required to perform the audit in accordance with the Generally Accepted Accounting Principles (GAAP) as adopted by the Governmental Accounting Standards Board (GASB). The firm may also be required to perform the audit (if applicable) in accordance with the provisions of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).

BID SPECIFICATIONS

Each bid must contain the following information;

  1. Qualifications of the individuals/auditing firm
  2. Name and qualifications of the senior auditor(s) that will be assigned to the Town
  3. Explanation of the Firm’s audit approach
  4. List of municipal references to whom auditing services have been provided to in the past 5 years
  5. Time Schedule for completing the audit
  6. Cost for each of the three years and payment schedule (if applicable)

To be considered, (5) five original copies of the written proposal must be submitted no later than 2:00 PM on Thursday, June 24, 2021, addressed to the Town Manager, Town of Bridgton, 3 Chase St., Suite 1, Bridgton, ME, 04009, in a sealed enveloped marked “Bid: Request for Auditing Services”. DO NOT OPEN UNTIL June 24, 2021. Faxed or emailed bids will NOT be accepted, nor proposals received after that date and time. Bids shall be opened at the Town Office at that time, and it is anticipated that the Town Manager will make an award on June 28, 2021. Any questions concerning the request for proposal should be emailed to finofficer@bridgtonmaine.org. The Town of Bridgton reserves the right to reject any and all proposals, is not required to accept the lowest bid if in the best interest of the Town and reserves the right to waive any informalities.

GENERAL INFORMATION

The Town of Bridgton is incorporated under the laws of the State of Maine and operates under a Town Manager/Board of Selectmen/Town meeting form of government. The proposed gross annual budget for fiscal year ending June 30, 2021, is approximately $18M and includes the school and county appropriations. We anticipate the gross annual budget for fiscal years ending June 30, 2022, and June 30, 2023, to be significantly higher due to (3) three large constructions projects; (2) of which are being partially funded with GOBs totaling $4.3M from the Maine Municipal Bond Bank, and (1) $22M wastewater expansion project being partially funded by a $10M grant from Rural Development and $10.5M from Bond Anticipation Notes.

 

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The Town’s major departments include general government, health and welfare, fire, police, public works, cemeteries, parks and recreation and there are also separate enterprise funds for a wastewater department and a town-owned campground. The Town also receives funding from CDBG and has (2) two TIF districts. The Town has several reserve accounts, special revenue funds, proprietary funds, capital project funds, and permanent funds. The Town of Bridgton is located in Cumberland County and operates under a Town Manager/Town Meeting/Board of Selectmen form of Government.

The Town of Bridgton employs approximately 40 full-time employees and several part-time and seasonal employees.

The Town’s financial records excluding fixed assets are generated using various modules to include real estate and personal property taxes, payroll, cash receipting, utility billing, and budgetary accounting software with Harris Local Government a/k/a TRIO.

All interested firms acknowledge that the Town of Bridgton will not pay for any costs incurred in connection with the preparation of the proposal. All firms also understand that the proposal, once submitted to the Town, then becomes a public document and is available for inspection by any interested parties in accordance with the Freedom of information Act (FOIA).

SCOPE OF AUDIT

Each year beginning with the FY2022 audit, pre-audit field work shall be scheduled preferably in May but prior to June 30, the exception being the FY2021 audit due to the timing of the RFP, and the audit will begin when the financial records have been closed for the year. Both will be scheduled at a mutually agreeable time for all parties involved. The auditing firm agrees to provide all necessary personnel, materials, and computer equipment to perform the audit.

The auditor shall conduct an examination and testing of the accounts, records, internal controls, and operating procedures for the Town of Bridgton. Upon completion, the auditor will submit a management letter to the Town Manager/Town Treasurer if necessary, to identify any inefficiencies, deficiencies, recommendations to improve internal controls, and/or financial management policies. The auditor shall furnish adjusting entries, if needed, to revenue, expenditure, and general ledger accounts. The auditing firm shall agree to make available upon request any supporting work papers in electronic format preferably excel used in the preparation of the audit documents.

The audit report and financial statements will include the following;

Independent Auditor’s Report

Management’s Discussion and Analysis

 

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BASIC FINANCIAL STATEMENTS

Government-wide Financial Statements

  • Statement of Net Position
  • Statement of Activities

Fund Financial Statements

  • Balance Sheet – Governmental Funds
  • Statement of Revenues, Expenditures, and Changes in Fund Balance–Governmental Funds
  • Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
  • Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Budgetary Basis – General Fund
  • Statement of Net Position – Proprietary Funds
  • Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds
  • Statement of Cash Flows – Proprietary Funds
  • Notes to Basic Financial Statements
    Supplemental Information
  • Comparative Balance Sheet – General Fund
  • Combining Balance Sheet; Non-major Governmental Funds
  • Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances; Nonmajor Governmental Funds
  • Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances; Nonmajor Special Revenue Funds
  • Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances; Nonmajor Capital Project Funds
  • Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances; Nonmajor Permanent Funds

Required Supplementary Information:

  • Schedule of Changes of Town’s Proportionate Share of the Net Pension Liability
  • Schedule of Town Contributions
  • Schedule of Changes in Town’s Total Health Plan OPEB Liability and Related Ratios
  • Notes to Required Supplementary Information

 

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Additional Reports (if applicable):

 Independent Auditor’s Report on Internal Controls over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards

 Independent Auditor's Report on Compliance for Each Major Program and on Internal Control over Compliance Required by the Uniform Guidance Schedule of Expenditures of Federal Awards

 Notes to Schedule of Expenditures of Federal Awards

The auditing firm shall provide a draft copy between November 1 – 15 and allow 20 calendar days for review by the Town. The review period will allow the opportunity to obtain clarification, ask questions, make additional corrections, additions, or deletions if needed.

The auditing firm shall then provide by December 15; (10) bound copies, (1) unbound copy of the final audit, and (2) electronic copies in PDF; one being a condensed version for publication in the Town Report and the other being the full report. The auditing firm will also be required to present the audit report at a future Board of Selectmen’s meeting.

The Town of Bridgton reserves the right to extend the contract one year at a time under the same terms and pricing if mutually agreeable between the parties.

The Town of Bridgton also reserves the right not to renew the contract for any of the subsequent years of the three-year contract period without cause by providing the auditing firm a written 30-day notice sent via Certified Mail.

ADDITIONAL SERVICES

The auditing firm is expected to provide the Town of Bridgton’s management with information on current development and professional pronouncements with GASB or other regulatory agencies which could affect its financial operations and management.

The auditing firm may also be called upon to provide assistance to personnel in the event of an unforeseen change in management or the finance officer. Please provide the hourly rate for such services for each of the (3) years.





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