HomeMy WebLinkAboutAddendum #1Addendum #1 — Request For Proposal for External Auditing Services
#32050
Questions and Answers
1. What were the total audit fees for the latest fiscal year (FY 2006) subject to audit,
including audit of federal awards under OMB Circular A-133 and state financial
assistance (federal and state single audits)? If available, please provide audit fees
by component (i.e. financial statement audit, federal single audit, state single audit,
special reports)
Answer: $390,000 — Fees not split out by components.
2. What were the total audit hours for the latest fiscal year (FY2006) subject to audit,
including federal and state single audit? If available, please provide audit hours by
component (i.e. financial statement audit, federal single audit, state single audit,
special reports)
Answer: Unknown — prior auditors did not provide this information.
3. What were the total fees for the latest fiscal year (and hours) for any other
services provided by your current audit firm, such as (1) out of scope audit work, (2)
other projects (e.g., accounting research), and (3) involvement with tax exempt
bond offerings (e.g. comfort and/or consent letters).
Answer: $3,445.00 for the verification of the Anti -Dilution text of the
Limited Ad Valorem Tax General Obligation Bonds Series 2007A&B.
There was no other additional work needed in the current year.
4. How long has your current auditor been auditing the City? Please describe the
reasons the City is requesting proposals for audit services, Will the current
auditor be permitted to submit a proposal to continue as the City's auditor?
Answer: 3 years. The City had a 3 year contract with no renewal
options. The current auditor may submit a proposal.
5. We note that the City currently has 6 blended component units and 6 discretely
presented component units. Which component units are included in the scope of
the engagement contemplated in the RFP? Are there any separate reporting
requirements with respect to any of the component units within the engagement
scope? Please specify which component units have special reporting
requirements, if applicable.
Answer: NONE — All component units have their own auditors. No,
there are no separate reporting requirements under this RFP for
component units.
6. Do you anticipate any significant changes in the audit scope between FY 2007
and FY 2006 (e.g., new component units, etc.)?
Answer: No.
7. Who are the members of the City's auditor proposal evaluation committee
Answer: Evaluation Committee may include Diana Gomez, Richard
Berkowitz and Carlos Garcia as well as any other members the City
Manager may recommend.
**NOTICE: This RFP is under the Cone of Silence. Please note
Section 1.20, Page 10, Cone of Silence.
8. Who are the members of the City's audit committee?
Answer: Victor Igwe, Richard Berkowitz, Ignacio Abella, Rachel
Dawson, and Stanley Footman.
9. Does the City have an internal audit function? If so, have they provided
assistance in the prior external audits and will they be available to provide
assistance in the future external audits. Typically how many hours of internal
audit assistance are provided annually for the external audit, if applicable?
Answer: Yes, the City has an internal audit function. No, they have
not provided assistance to the external auditors in the past.
ACKNOWLEDGMENT OF RECEIPT OF ADDENDUM ISSUED
ON 8/16/07:
8122.1v7
Robert R. Feldmann Date