Agenda - Council - 10/09/2007 - Laserfiche WebLink

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CITY OF RAMSEY REQUEST FOR PROPOSALS FOR PROFESSIONAL AUDIT SERVICES II: NATURE OF SERVICES REQUIRED a) General The City is soliciting the services of qualified firms of certified public accountants to audit its financial statements for the fiscal years ending December 31, 2007, 2008, and 2009. These audits are to be performed in accordance with the provisions contained in this request for proposals. b) Scope of Work to be Performed The City desires the auditor to express an opinion on the fair presentation of its basic (general purpose) financial statements in conformity with generally accepted accounting principles. The City also' desires the auditor to provide an "in- relation -to" opinion on the supplementary information based on the auditing procedures applied during the audit of the basic financial statements. The auditor is not required to audit the statistical and required supplementary information sections of the report. However, the auditor shall also be responsible for performing certain limited procedures involving the required supplementary information required by the Governmental Accounting Standards Board as mandated by generally accepted auditing standards. If the City of Ramsey is required to have a Single audit for any year covered by this proposal, the auditor would follow the provisions of the federal Single Audit Act Amendments of 1996. It is unclear at this time if the City will require a Single Audit for any of the three years covered by this engagement. The City of Ramsey was subject to the Single Audit for the year ending December 31, 2006. The pricing for the potential single audit should be reported separately on the fee structure schedule. On behalf of the Ramsey Fire Relief Association, the City desires the auditor to express an opinion on the fair presentation of the financial statements of the Ramsey Fire Relief Association in conformity with generally accepted accounting principles. The pricing for this proposal should be separately stated on the fee structure schedule. c) Auditing Standards to be Followed: To meet the requirements of this request for proposals, the audit shall be performed in accordance with generally accepted auditing standards, the standards for financial audits set forth in the General Accounting Offices (GOA) Government Auditing Standards, the provisions of the federal Single Audit Act Amendments of 1996 and U.S. Office of Management and Budget (OMB) Circular A -133, Audits of States, Local Governments, and Non - Profit Organizations., as well as all other Federal, State and local requirements in effect now or placed into effect during the engagements. Page 2 of 14