MACIAS GINI & O'CONNELL LLP 3f -2012

Home Browse Search

CITY OF SANTA ANA AUDITING SERVICES - REQUEST FOR PROPOSAL INVITATION To maintain financial integrity and due diligence it is the practice of the City of Santa Ana to contract with a different auditing firm every four to six years. The audit firm that just completed the June 30, 2011 fiscal year audit has contracted with the City for the past six years; therefore, the City of Santa Ana is requesting proposals for auditing services from qualified firms. The term for the services will be four consecutive years, beginning with the fiscal year ending June 30, 2012 with the option for extensions. NATURE OF SERVICES REQUIRED A. General The City is selecting auditors to perform an examination and issue and opinion of the financial statements of all fund types and account groups of the City for the year ending June 30, 2012 and for the three succeeding years. B. Auditing Standards to be followed Each examination is to be performed in accordance with generally accepted auditing standards as adopted by the American Institute of Certified Public Accountants (AICPA). In addition, the minimum auditing standards set forth in the Single Audit Act and OMB Circular A -133 must be met. C. Reports to be issued The City prepares a Comprehensive Annual Financial Report (CAFR) required for the general - purpose financial statements of the City. The auditor shall assist the City in the finalization of the CAFR. The audit timeline must take into consideration that the City submits the CAFR for the Government Finance Officers Association's Certificate of Achievement for Excellence in Financial Reporting. The Auditors will be responsible for preparing the annual Single Audit report, a report on the review of the City's Gann Limit computation, and perform an annual on -line attestation of Financial Data Schedule (FDS) for the Santa Ana Housing Authority. The City also requires a management letter containing comments and recommendations regarding the auditor's review and evaluation of the systems of internal control and accounting procedures. The AuditaFs will bee The Auditors may be required to prepare the stand alone financial statement for the City as the Successor Agency and the Housing Successor Agency of the Redevelopment Agency. D. It is expected that the auditor selected will be available throughout the year for general consultation regarding matters of accounting. The auditors may be asked to provide guidance on implementation of new GASB and SAS requirement and specifics of Federal and State regulations as they may affect local government accounting. E. If requested the external auditor may be required to meet with staff and Council Members to review the Management Letter and Audit. Attendance at one Council meeting may also be requested. F. On June 28, 2011, the Governor of the State of California signed two bills that impact redevelopment agencies throughout the State, Assembly Bills X1 26 (ABX1 26 - Dissolution bill) and Assembly Bills X1 27 (ABX1 27 - Continuation bill), as part of the 2011 -2012 State's budget package. Subsequently on December 29, 2011, the Supreme Court issued its ruling and upheld