Annual Independent Audit Request for Proposal
Town of Clinton
The municipality of Clinton invites qualified independent public accountants to submit proposals for the performance of an audit of its financial accounts and records covering the period July 1, 2022, through June 30, 2023, for the purpose of rendering an auditor's opinion regarding the fairness of applicable financial statements and compliance with applicable legal provisions, in accordance with generally accepted auditing standards.
A. GENERAL INFORMATION
The municipality of Clinton is a municipal corporation of the State of Maine with a population of 3,800 and a total appropriation of $ 3,334,148 in the last fiscal year. The most recent audit of the municipality was performed in August of 2022 for the period July 1, 2021.
The accounting system of the municipality is comprised of a general ledger and other books of account and are organized on the basis of funds and account groups. (List funds, account groups and any associated entities to be audited.)
B. 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 municipality listed in Section A of this RFP.
3. The audit firm shall submit a written report, containing an expression of opinion regarding the financial statements of the municipality.
4. The audit shall cover the fiscal year starting July 1, 2022 and ending June 30, 2023.
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 municipality in 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 municipality 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 copies of the auditor's report, the financial statements and schedules, and the management letter no later than days after the close of the fiscal year.
10. The audit firm will perform a compliance audit of General Revenue Sharing funds in accordance with requirements of the Office of Revenue Sharing and submit a written report on compliance with those regulations.
C. INSTRUCTIONS FOR PROPOSALS
Sealed proposals will be accepted by the Town of Clinton, 27 Baker Street, Clinton, Maine 04927 until Thursday, June 15th, 2023, at 4:45 p.m.
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. A brief description of the audit procedures to be followed, presented in a form which will aid in evaluating your firm’s understanding of local governments and their financial problems.
3. Your proposal must indicate the maximum total fee your firm will charge for the requested services. Final payment shall become due only after the submission of all required reports.
The municipality shall evaluate the proposals on the basis of the qualifications, experience, and audit plan of the audit firms, as well as the estimated cost of the engagement.
The municipality may wish to conduct oral interviews with the firms considered most qualified in order to assist the municipality in the selection process.
E. FURTHER INFORMATION
Audit firms who want additional information or clarification should contact the municipality. Any inquiries should be directed to John Bellino, Town Manager, Town of Clinton, 27 Baker Street, Clinton, Maine 04927, firstname.lastname@example.org, or by phone at 207-426-8322.