City of Milford Request for Proposal Auditing Services

Location:	Delaware
Posted:	Mar 27, 2026
Due:	May 15, 2026
Agency:	City of Milford
Type of Government:	State & Local
Category:	Q - Medical Services R - Professional, Administrative and Management Support Services
Publication URL:	To access bid details, please log in.

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City of Milford

201 S. Walnut Street

Milford, DE 19963

Request for Proposal

Audit Services

RELEASE: March 27, 2026

City of Milford

Request for Proposal

Auditing Services

PUBLIC NOTICE IS HEREBY GIVEN that the City of Milford will accept Proposals from

consulting firms for the purpose of conducting Auditing Services until 3:30 PM local time on

May 15, 2026 at which time sealed proposals will be publicly opened and read.

Interested firms shall submit three (3) copies of their submittals to:

City of Milford

Attn: City Clerk’s Office

City Hall

201 S. Walnut Street

Milford, DE 19963

Envelopes shall be marked “RFP: AUDIT SERVICES”. Any submittals received after the stated

time will be returned unopened.

Following receipt of the proposals, the City Council will select the firm it deems most qualified to

address the needs and conditions of this project and whose proposal is most advantageous to the

City. The City reserves the right to request an interview prior to the selection of the firm. The

City reserves the right to award a contract/agreement that is in the best interest of the City and may

award to multiple firms or none. The award will be made by the City Council at a Council meeting

open to the public. The City Council may accept or reject any or all proposals or hold all proposals

for a period of ninety (90) days from the date of proposal opening prior to making a decision.

For a complete copy of the Request for Proposal, please see the City website at

www.cityofmilford.com.

City of Milford

Christopher Coleman

City Manager

Page 2 of 8

City of Milford

Request for Proposal

Auditing Services

1. General Overview

The City of Milford, Delaware requests proposals from qualified certified public accounting firms

for the provision of auditing services for each of the three (3) fiscal years ended June 30, 2026,

2027 and 2028, with the potential for no greater than two (2) annual extensions of one year each.

The audit(s) shall be performed in accordance with generally accepted auditing standards as set

forth by the American Institute of Certified Public Accountants, the standards applicable to

financial audits contained in Government Auditing Standards issued by the Comptroller General

of the United States, and Part 200-Uniform Administrative Requirements, Cost Principles and

Audit Requirements for Federal Awards (Uniform Guidance).

2. Background

The City of Milford is a full-service municipal government located in both Kent and Sussex

counties in the State of Delaware. The current population is estimated to be approximately 14,100.

The City provides utilities (water, wastewater, and electric), public services (street maintenance,

solid waste collection, and utility and tax billing), police protection, and operates and maintains

parks and recreation programming and facilities.

3. Scope of Services

A. The audit services provided shall be for the purpose of expressing an opinion on the City

of Milford’s basic financial statements taken as a whole, in accordance with generally

accepted auditing standards as set forth by the American Institute of Certified Public

Accountants, the standards applicable to financial audits contained in Government

Auditing Standards issued by the Comptroller General of the United States, and Uniform

Guidance.

B. Audit Services shall include examination of and reporting on the City’s internal control

structure, including recommendations on findings, if any.

C. Following the completion of the audit of the fiscal year’s financial statements, the auditor

shall issue:

a. A report on the fair presentation of the financial statements in conformity with

generally accepted accounting principles.

b. A report on compliance and internal control over financial reporting based on an

audit of the financial statements.

c. A report on compliance and internal control over compliance applicable to each

major federal program in accordance with Uniform Guidance if required.

d. The Schedule of Expenditures of Federal Awards and related auditor’s reports as

well as the reports on compliance and internal controls, if applicable.

D. In addition to the audit services described above, the City is requesting the following

additional assistance or services:

a. Development of all required communications by the auditor to those charged with

governance not enumerated in paragraph C

Page 3 of 8

City of Milford

Request for Proposal

Auditing Services

b. Review and communication of current and pending guidance and standards issued

by the Governmental Accounting Standards Board (GASB)

i. Include sample calculations for current and pending standards

ii. Include template for footnote narrative requirements, if any

iii. Include samples from other public clients

c. Annual meeting with City Council to present the annual audit results and

Independent Auditors’ Report

d. Annual meeting with appropriate subcommittee of City Council to present

preliminary audit findings

e. Development and communication of a detailed audit plan, including

i. An audit calendar for distribution to City of Milford management and staff,

including proposed dates for preliminary and final fieldwork dates

ii. A list of all schedules and documents to be prepared by City of Milford staff

no later than thirty calendar days prior to the first day of preliminary

fieldwork during the fiscal year being audited

iii. A list of all schedules and documents to be prepared by City of Milford staff

no later than thirty calendar days prior to June 30 of the fiscal year being

audited

f. Beyond the scope of the independent financial statement audit, prepare a review of

all content produced in support of the City’s Annual Comprehensive Financial

Report (ACFR) or equivalent annual reporting package and communicate any

inconsistencies or disagreements between audited and unaudited data, including,

but not limited to

i. Tables and schedules reported in Management’s Discussion & Analysis

ii. Tables and schedules reported in the Footnotes to the Financial Statements

iii. Tables and schedules reported in any Supplementary Data sections of the

ACFR or annual reporting package

g. The firm shall deliver one (1) high-resolution, word-searchable portable document

formatted (.pdf) document containing cover materials and graphics generated by

the City of Milford, the Independent Auditors’ Report, Management’s Discussion

and Analysis, all financial statements, and all related narratives and footnotes in the

ACFR or equivalent annual reporting package.

h. The firm shall deliver a letter to City of Milford Management containing

appropriate suggestions for improvement of accounting procedures and internal

controls for the City’s consideration. This letter should contain comments and

recommendations for controlling any internal weaknesses discovered and shall be

discussed with appropriate personnel before finalizing.

4. Audit Completion

A. Draft Report

The auditor shall transmit a draft audit report and discuss findings and recommendations

with the City Manager and Finance Director no later than six (6) months after June 30 of

the fiscal year being audited.

Page 4 of 8

City of Milford

Request for Proposal

Auditing Services

B. Final Report

The auditor shall transmit a completed audit report to the City Manager and Finance

Director no later than two (2) weeks prior to the Council Presentation.

C. Council Presentation

The auditor shall present the Final Audit Report to the Mayor and City Council no later

than seven (7) months after June 30 of the fiscal year being audited.

5. Fund Balances

Below are the names of the City of Milford’s Major Funds, along with the amount budgeted

for each for FY 2025-26:

• General Fund: $20.6 million

• Water Fund: $7.3 million

• Sewer Fund: $9.0 million

• Solid Waste Fund: $2.1 million

• Electric Fund: $36.5 million

Additional information on the City’s Funds can be found at:

https://www.cityofmilford.com/26/Finance

6. Content and Format

A. A signed cover letter including an executive summary and statement of understanding.

B. License to Practice—The audit firm and all assigned key professional staff must be

certified public accountants and licensed to practice in the State of Delaware. If the firm is

the successful candidate, it may need to obtain a license to practice in the City of Milford

as well.

C. Project Team—Identify the key individuals from your firm and describe each person’s role

on the project team and include an organizational chart.

D. Experience—Discuss the firm’s qualifications, experience, and history in performing

Auditing Services. Please provide additional detail to describe the delivery of any auditing

or consulting services to municipal, county or state governments or agencies operating

public utilities.

E. Please provide a list of three current or previous municipal clients as references, including

names, titles, affiliations, telephone numbers, and type of consulting work performed.

F. Provide a description of how reports will be produced, communicated/transmitted, and the

type of any special software, etc. to be utilized in the performance of the agreement.

Page 5 of 8

This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

Bid Title:	City of Milford Request for Proposal Auditing Services
Category:	City Administration
Status:	Open