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The original item was published from 5/11/2017 9:50:23 AM to 6/12/2017 5:00:05 PM.

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Posted on: May 10, 2017

[ARCHIVED] Request for Proposals: Audit Services




The Town of Hartford, Vermont, is requesting proposals from qualified firms of Certified Public Accountants to audit its financial statements for the fiscal year ending June 30, 2017, with the option of auditing its financial statements for each of the two subsequent fiscal years.

Five paper copies of your firm’s proposal must be submitted by mail or hand delivered in a sealed envelope clearly marked “RFP – Audit Services” on or before 5:00 PM Monday June 12, 2017 to:

Town of Hartford, Vermont

171 Bridge Street

White River Jct., VT 05001

Attn: Leo Pullar, Town Manager

The Town of Hartford reserves the right to reject any or all proposals submitted. Proposals will be evaluated by the Town based on firm experience and reputation, understanding of Town requirements, and price. During the evaluation process, the Town reserves the right, where it may serve in the Town’s best interest, to request additional information or clarification from proposers. At the discretion of the Town, firms submitting proposals may be requested to make oral presentations as part of the evaluation process.

Please direct all questions regarding this request for proposals to Gail Ostrout, Finance Director (802) 478-1107.


The Town of Hartford, Vermont, desires the auditor to express an opinion on the fair presentation of its general purpose financial statements in conformity with generally accepted accounting principles. The Town also desires the auditor to express an opinion on the fair presentation of the combining and individual fund financial statements and schedules in conformity with generally accepted accounting principles. Lastly the Town requires Agreed Upon Procedures to be completed for the Tax Increment Financing District.

The audit shall be performed in accordance with generally accepted auditing standards as set forth by the American Institute of Certified Public Accountants; the standards for financial audits set forth in the U.S. General Accounting Office’s Government Auditing Standards; the provisions of the Single Audit Act of 1984 (when applicable); and the provisions of the U.S. Office of Management and Budget (OMB) Circular A-128, Audits of State and Local Governments.

The Town does not anticipate spending in excess of $750,000 in federal awards in Fiscal Year 2017 and will not require an audit in accordance with the Single Audit Act of 1984. It is possible, that in subsequent years, a single audit will be needed.

It is expected that in determining the extent of test procedures, full consideration will be given to the apparent effectiveness of the system on internal accounting controls. The feasibility of recommendations for improvements in the accounting system and internal controls will be discussed during the course of the engagement. In the required report on internal control, the auditor shall communicate any reportable conditions found during the audit. Reportable conditions that are also material weaknesses shall be identified as such in the report. Non- reportable conditions discovered by the auditors shall also be reported in a separate management letter, which shall include all instances on noncompliance.

The auditor will print, bind and submit eight (8) copies of the audit report to the Town. Additional copies of the report shall be submitted to the federal cognizant audit agency and any agencies of the State of Vermont, as required.

At the conclusion of the audit, the auditor will meet with the Selectboard to discuss the results of the audit and any findings that are included in the auditor’s management letter.

All working papers and reports shall be retained for a minimum of three years, unless the firm is notified in writing by the Town of the need to extend the retention period.


The Town of Hartford has a population of approximately 9,500. The Town is organized under the Selectboard - Manager form of government. The Selectboard members are elected at large by the registered voters of the Town. The Town provides the following services to its citizens:

Highway and streets, planning and zoning, general administration services, public safety (police, fire and ambulance), streets, health and social services, culture and recreation, planning and zoning, community development, public improvements and Tax Increment Financing. Other services include utility (solid waste, water and waste water) operations.

The Town has a total payroll of (+/-) $6,600,000 covering one hundred (100) full-time and forty (40) part-time or seasonal employees. The approved budget for the most recent fiscal year is $16,401,595 for the General Fund and $7,531,554 for the Enterprise Fund.

The funds of the Town can be divided into two categories: governmental funds and proprietary funds.


Interested firms shall submit its proposal separated into two sections, the technical proposal and the cost proposal.

The purpose of the technical proposal is to demonstrate the qualifications, competence and capacity of the firms seeking to undertake the audit of the Town of Hartford in conformity with the requirements of this request for proposals. The technical proposal should demonstrate the qualifications of the firm and of the particular staff to be assigned to this engagement. It should also specify an audit approach that will meet the request for proposals requirements. The technical proposal shall provide the necessary information in the following sequence:

• Background of the firm - the proposer should state the size of the firm, the size of the firm’s governmental auditing staff, and the number and nature of the professional staff to be employed in this engagement. The firm is also required to submit a copy of the report on its most recent quality control review, along with a statement whether that quality control review included a review of specific government engagements.

• Partner, supervisory and staff qualifications and experience - the proposer should identify the principal supervisory and management staff who would be assigned to the engagement. Provide information on the government auditing experience of each person.

• Similar engagements with other government entities - The proposal shall include the five most significant engagements performed in the last five years that are similar to the engagement described in this request for proposals. Indicate the scope of the work, a sample and the name and telephone number of the client contact.

• Specific audit approach - the proposal should set forth a plan of implementation, including an explanation of the audit methodology to be followed. The work plan should include a description of tasks, estimates of work effort, time budgets, and a detailed breakdown of responsibilities of all audit personnel

o Onboarding Process and Timeline

o Previous Auditor Communication Guidelines

o Relationship Structure

o Tax Increment Financing Reporting

The cost proposal should be structured as follows:

• Total all-inclusive maximum price - the cost proposal should include a total all-inclusive maximum price for the engagement for the year ending June 30, 2017, and for each of the two subsequent engagement years for which the Town has the option of continuing in this contract.

• Breakdown of costs by year by partner (principal), supervisory and staff level.

• Out-of-pocket expenses included in the total all-inclusive maximum price and reimbursement rates.

• Manner of payment - progress payments will be made on the basis of hours of work completed during the course of the engagement. Interim billing shall cover a period of not less than a calendar month.


The audit firm will be selected based on two criteria, technical qualifications and price. The technical qualifications will examine each proposer’s expertise and experience in providing quality audit services to government entities and the quality of the firm’s professional personnel who would be conducting the audit, as well as the approach of the audit and the plan for implementation. Cost will not be the primary factor in the selection of an audit firm.

The Town desires to meet with each firm for a pre-proposal meeting during the week of June 5th through June 8, 2017.

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