Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

REQUEST FOR PROPOSALS-AUDIT SERVICES by beh18617

VIEWS: 84 PAGES: 6

									                    REQUEST FOR PROPOSALS- AUDIT SERVICES

The City of Crestwood, Missouri requests proposals for independent audit services for
the fiscal year ending December 31, 2009. The City intends to award a one-year
contract, with one-year renewal options at the Board of Aldermen’s discretion, up to a
maximum of five years. The City’s charter requires that no firm can perform the City’s
annual audit for more than five consecutive years.

I. GENERAL INFORMATION

   A. Background

   The City of Crestwood, Missouri was originally incorporated as a fourth-class city in
   1949 but became a Charter City in November 1995. The City, approximately 3.6
   square miles, is located in southwest St. Louis County and has a reported population
   (July 2008) of 11,400. The City of Crestwood is governed by a Board of Aldermen-
   Mayor-City Administrator form of government. All legislative power and policy
   making authority resides with the Board of Aldermen, the Mayor is elected by the
   citizens and the City Administrator is responsible for all City operations.

   The City government’s structure includes Offices of Administration, Public Safety,
   Public Works and Parks & Recreation. A current organizational chart is included for
   more detail. The City currently employs approximately 104 individuals: 95 full-
   time/benefited, 2 part-time/benefited and 5 part-time/non-benefited (not including
   seasonal).

   B. Fund Structure

   The following table shows the City’s current fund structure as well as revenues,
   expenditures and fund balances for the last audited fiscal year:

                                                       For the Year Ended 12/31/08
       Fund                 Type                Revenues       Expenditures   Fund Balances
General               General                    $9,477,842       $9,060,371       $3,811,003
Sewer Lateral         Special revenue               144,440          172,953          263,282
Capital Improv.       Special revenue             2,375,487        3,246,605        1,143,166
Park & Storm.         Special revenue             3,032,149        3,273,161          621,127
Other (3)             Non-major                      41,888           49,452          846,344

   The Finance Office utilizes Blackbaud® FundWare accounting software.


      One Detjen Drive  Crestwood, Missouri 63126-1697  314-729-4700  Fax 314-729-4795
                                    www.ci.crestwood.mo.us

                                              (1)
    C. Revenue Sources

       The major revenue sources for the General Fund are property, utility and sales
       taxes; licenses and permits; and municipal court fines and forfeitures. The
       Capital Improvements Fund is funded by a special sales tax and grant
       reimbursements, and the Park & Stormwater Fund is funded by a special sales
       tax and charges for services.

.   D. Outstanding Debt

       At December 31, 2008, the City’s debt consisted of the following:

                   Debt Type                Outstanding PR
         Certificates of participation            $3,850,000
         Annual appropriation note                $1,555,000
         Ford Motor Credit financing                 $71,497

    E. Tax Increment Financing (TIF) Districts

       The City serves as the Administrator of two TIF districts: Sappington/Watson Rd.
       (Crestwood Point) Redevelopment Area and Watson Plaza Redevelopment
       Area.


II. SCOPE OF SERVICES

    A. Audit

       The selected firm shall conduct an independent audit to express an opinion on
       the City’s financial statements in accordance with auditing standards generally
       accepted in the United States of America and the standards applicable to
       financial audits contained in Government Auditing Standards, issued by the
       Comptroller General of the United States. The firm shall also conduct an audit of
       the City’s federal awards, when necessary, in accordance with OMB Circular A-
       133. Proposals shall show total proposed audit costs with and without an OMB
       Circular A-133 audit.

       Schmersahl, Treloar & Co., Certified Public Accountants, has performed the
       City’s audits for the previous five fiscal years, the maximum number of years
       allowed per the City’s charter.



      One Detjen Drive  Crestwood, Missouri 63126-1697  314-729-4700  Fax 314-729-4795
                                    www.ci.crestwood.mo.us

                                              (2)
B. Required Reports

  The selected firm agrees to prepare and provide:

     An Independent Auditors’ Report

     Financial statements, notes and other required supplemental information

     A Schedule of Expenditures of Federal Awards and notes (when required)

     A Report on Internal Control Over Financial Reporting and on Compliance
      and Other Matters Based on an Audit of Financial Statements Performed in
      Accordance with Governmental Auditing Standards

     A Report on Compliance with Requirements Applicable to Each Major
      Program and Internal Control Over Compliance in Accordance with OMB
      Circular A-133 (when required)

     A Management Letter including any findings, observations, opinions or
      comments of the auditors

     A written report of any irregularities and illegal acts upon discovery

     Any other required reports


C. Other Services

  The City of Crestwood expects to receive ongoing, professional consultation from
  the selected audit firm. This periodic assistance is expected to be minor in
  nature and would not affect the scope of services or impair the firm’s
  independence.

  If extraordinary circumstances warrant an expansion of audit fieldwork, a contract
  addendum, agreeable to both the City and the firm, must be completed prior to
  the performance of the work. Otherwise, the firm agrees to perform the
  necessary steps in order to express an opinion and provide the required financial
  statements and reports noted within this proposal at costs not to exceed the
  amount listed in the proposal.




  One Detjen Drive  Crestwood, Missouri 63126-1697  314-729-4700  Fax 314-729-4795
                                www.ci.crestwood.mo.us

                                          (3)
III. RESPONSIBILITIES

  A. Duties

     Finance Office personnel shall close the City’s year by February 28th of the
     following year and make appropriate accruals to general ledger accounts for a
     modified-accrual basis presentation of financial statements. The City will rely on
     assistance from the auditors to calculate GAAP adjustments. The Finance
     Officer will prepare trial balances, audit confirmation letters and other reports as
     necessary. Prospective firms may find the City’s 2009 budget and most recent
     audited financial statements at: www.ci.crestwood.mo.us


  B. Financial statements

     The auditors shall provide the City 20 bound copies and one electronic copy of
     the final audit documents no later than June 15th of the year following the
     audited year.

     1. Other post-employment benefits (OPEB)

         The City first reported OPEB costs and obligations in its audit for the year
         ended December 31, 2008. Since the City has less than 100 benefited
         employees, it did not engage the services of an actuary; instead, the “simple”
         calculation method was used. The City will rely on assistance from the
         auditors to calculate OPEB costs and obligations and compile required notes
         to the financial statements.

  C. Accommodations

     The Finance Officer will oversee the audit process. During fieldwork, the Finance
     Officer and staff will be available to gather information, answer questions and
     assist as needed. A conference room, copier and internet connection will be
     provided.


IV. PROPOSAL REQUIREMENTS

        License to practice in Missouri

        Qualifications and relevant governmental audit experience (partner,
         supervisor and staff qualifications)


     One Detjen Drive  Crestwood, Missouri 63126-1697  314-729-4700  Fax 314-729-4795
                                   www.ci.crestwood.mo.us

                                             (4)
       Proposed schedule of fieldwork (preliminary – delivery)

       Proposed audit costs for the current year and expected costs for the
        subsequent four years. Total proposed audit costs shall be shown with and
        without an OMB Circular A-133 audit.

       References of governmental clients in the St. Louis area (minimum of three)

       A statement clearly identifying any parts of the proposal with which the firm
        cannot comply, including detailed explanations for any deviations and any
        alternative procedures the firm considers necessary.


V. PROPOSAL INSTRUCTIONS

  A. Submission

    Two copies of the proposal shall be clearly marked “Proposal- Audit Services”
    and received at the following address by 4:30 PM CST on Wednesday, October
    21, 2009:

    City of Crestwood
    Tina Flowers, City Clerk
    One Detjen Dr.
    Crestwood, MO 63126

    All costs associated with the proposal are the sole responsibility of the firm. The
    City reserves the right to retain all submissions.

    Questions or clarifications may be directed to Douglas E. Brewer, Finance
    Officer, at dbrewer@ci.crestwood.mo.us.

  B. Consideration

    Proposals will be evaluated based upon the proposal requirements listed above.
    Only proposals received by the deadline will be considered. The City reserves
    the right to evaluate and reject any or all proposals, to waive any informalities,
    accept the proposal, that in the City’s sole judgment, meets the requirements as
    set forth herein, and to negotiate directly with the firm chosen.

  C. Award

    The Finance Officer will recommend a firm to the Board of Aldermen. Upon the
    Board’s acceptance of the recommendation, the Finance Officer will notify, in
    writing, the successful firm.
    One Detjen Drive  Crestwood, Missouri 63126-1697  314-729-4700  Fax 314-729-4795
                                  www.ci.crestwood.mo.us

                                            (5)
D. Conflicts

   No firm or accountant with a personal interest, direct or indirect, in the fiscal
   affairs of the City government or any of its employees or officers is eligible for this
   contract.




  One Detjen Drive  Crestwood, Missouri 63126-1697  314-729-4700  Fax 314-729-4795
                                www.ci.crestwood.mo.us

                                          (6)

								
To top