Finance Audit Bid 2026
| Location: | Texas |
|---|---|
| Posted: | Apr 1, 2026 |
| Due: | Apr 27, 2026 |
| Agency: | Town of Highland Park |
| Type of Government: | State & Local |
| Category: |
|
| Publication URL: | To access bid details, please log in. |
| Bid Title: |
Finance Audit Bid 2026
|
| Category: | Finance Department |
| Status: | Open |
|
Attachment Preview
4700 Drexel Drive, Highland Park, Texas 75205
Telephone: (214) 521-4161
REQUEST FOR PROPOSALS (RFP)
FOR
PROFESSIONAL AUDITING SERVICES
April 2026
Proposals Due: 3:00 p.m. CDT on Monday, April 27, 2026
TABLE OF CONTENTS
I. INTRODUCTION
A. General Information
1
B. Term of Engagement
2
C. Subcontracting
2
II. NATURE OF REQUIRED SERVICES
A. Scope of Work to be Performed
2
B. Auditing Standards to be Followed
3
C. Reports to be Issued
3
D. Special Considerations
4
E. Working Paper Retention and Access to Working Papers
4
IV. TIME REQUIREMENTS
A. Proposal Calendar
4
B. Notification and Contract Dates
5
C. Audit Schedule
5
V. ASSISTANCE TO BE PROVIDED TO THE AUDITOR AND REPORT PREPARATION
A. Finance Department and Clerical Assistance
5
B. Statements and Schedules to be Prepared by the Staff of the Town
5
C. Work Area, Telephone, Photocopying, Scanning, and WIFI
5
VI. PROPOSAL REQUIREMENTS
A. General Requirements
5
B. Submission of Proposals
5
C. Technical Proposal
6
D. Specific Audit Approach
7
E. Identification of Anticipated Potential Audit Problems
7
F. Report Format
7
G. Dollar Cost Proposal
7
H. Rates for Additional Professional Services
7
I. Manner of Payment
8
J. Status of Auditor
8
K. Warranties
8
VII. EVALUATION PROCEDURES
A. Review of Proposals
8
B. Evaluation Criteria
9
C. Oral Presentations
10
D. Final Selection
10
E. Right to Reject Proposals
10
APPENDICES
A. Sample Audit Schedule
11
B. Cost of Proposal Form
13
C. Proposers Warranties
14
D. Town Insurance Requirements
15
TOWN OF HIGHLAND PARK
REQUEST FOR PROPOSALS
I. INTRODUCTION
A. General Information
The Town of Highland Park, Texas, (“Town”) is a premier residential community located
approximately three miles north of downtown Dallas. The Town operates as a full-service
municipality, providing a comprehensive range of services including public safety, public
works, community development, parks and recreation, a pool, library services and
administrative functions.
The Town is requesting proposals from qualified Proposers of certified public accountants,
hereafter “Proposer” or “Auditor” to audit its financial statements for the fiscal year ending
September 30, 2026, with the option of auditing its financial statements for each of the four (4)
subsequent fiscal years. The initial term of the resulting agreement shall be for three (3)
consecutive fiscal years (2026, 2027, 2028) from the effective date. The agreement may be
renewed for two (2) additional fiscal years 2029 and 2030, provided both parties agree in
writing. The Town Council reserves the right to approve each annual audit.
The audits are to be performed, as applicable, in accordance with generally accepted auditing
standards, the standards set forth for financial audits in the General Accounting Office's (GAO)
Government Auditing Standards, latest revision, and as applicable, the provisions of the federal
Single Audit Act of 1984 (as amended) and U.S. Office of Management and Budget (OMB)
Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations.
There is no expressed or implied obligation for the Town to reimburse responding Proposers
for any expenses incurred in preparing proposals in response to this request.
Proposals must be submitted electronically in Adobe Acrobat (PDF) format. All submissions
shall be directed to: bids@hptx.org. All submitted proposals are valid for 90 days from the due
date and time.
Please include “Proposal for Auditing Services” in the subject line of your email submission.
Proposals received after the stated deadline will not be considered. The Town reserves the right
to reject any or all proposals submitted.
During the evaluation process, the Finance & Audit Advisory Committee and the Town reserve
the right, where it may serve the Town's best interest, to request additional information or
clarifications from proposers, or to allow corrections of errors or omissions. At the discretion
of the Town or the Finance & Audit Advisory Committee, Proposers submitting proposals may
be requested to make oral presentations as part of the evaluation process.
The Town reserves the right to retain all proposals submitted and to use any ideas in a proposal
regardless of whether that proposal is selected. Proposer may designate any information as
proprietary and confidential; however, such confidentiality will be recognized only to the extent
permitted by applicable law. Submission of a proposal indicates acceptance by the Proposer of
the conditions contained in this request for proposals, unless clearly and specifically noted in
the proposal submitted and confirmed in the contract between the Town and the Proposer
selected.
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It is anticipated that the selection of a Proposer will be completed on or before June 24, 2026.
Following the notification of the selected Proposer it is expected a contract will be executed
between both parties on or before July 22, 2026.
B. Term of Engagement
The initial term of the resulting agreement shall be for three (3) consecutive fiscal years (2026,
2027, 2028) from the effective date. The agreement may be renewed for two (2) additional
fiscal years 2029 and 2030, provided both parties agree in writing.
The contract is subject to the annual review and recommendation of the Finance & Audit
Advisory Committee, the satisfactory negotiation of terms (including a price acceptable to both
the Town and the selected Proposer), the concurrence of the Town Council and the annual
availability of an appropriation. The Town reserves the right to review the Proposer’s
performance at the end of each twelve (12) month period and cancel all or part of the agreement
or continue the agreement through the next period. The Town will require a Letter of
Engagement executed by the Proposer on or before July 1st each year.
C. Subcontracting
Proposers submitting proposals may consider subcontracting portions of the engagement to
other audit firms. If this is to be done, that fact, and the name of the proposed subcontracting
firm, must be clearly identified in the proposal. Following the award of the audit contract, no
additional subcontracting will be allowed without the express prior written consent of the Town.
II. NATURE OF REQUIRED SERVICES
A. Scope of Work to be Performed
The Town desires the Auditor to express an opinion on the fair presentation of its governmental
activities, its business-type activities, each of its major funds, and its aggregated remaining fund
information in conformity with generally accepted accounting principles.
The Auditor is not required to audit the combining fund financial statements and supporting
schedules. However, the Auditor is to provide an “in-relation-to” report on the combining fund
financial statements and supporting schedules based on the auditing procedures applied during
the audit of the basic financial statements.
The Auditor is not required to audit the introductory and statistical sections of the report, but
those sections should be reviewed for consistency with the audited financial statements.
The Auditor shall also be responsible for performing certain limited procedures involving
required supplementary information required by the Governmental Accounting Standards
Board (“GASB”) as mandated by generally accepted auditing standards.
The Auditor’s assistance and consultation will be required in implementing new GASB
statements as soon as possible, even if prior to the required effective date.
The Auditor will prepare a draft of the Comprehensive Annual Financial Report for
management’s review. The Auditor agrees to provide the issued financial statements, the
Page 2 of 16
Independent Auditor’s Report, and the Report on Internal Controls in electronic (PDF) format
on or before the date specified in the pre‑audit schedule. Any extensions or alternate dates must
be agreed upon in writing.
The introductory and statistical sections of the Comprehensive Annual Financial Report will be
prepared by the Auditors, with assistance from the Town staff. The Auditor will compile and
prepare all financial statements and schedules in the financial section. The notes to the financial
statements will be a joint effort between the Town and the Auditors and will be prepared by the
Auditor. Further, the Auditor will assist in the preparation of the Management Discussion and
Analysis section by providing a pre-populated template to the extent possible. All services
described in this paragraph shall be performed only to the extent they do not impair the
Auditor’s independence under applicable auditing standards.
The Town’s Annual Comprehensive Financial Report for the fiscal year ended September 30,
2025, plus the prior seven fiscal years is available on the Town’s webpage located at:
https://hptx.org/330/Open-Government
B. Auditing Standards to be Followed
The audit shall be performed, as applicable, in accordance with generally accepted auditing
standards as set for by the American Institute of Certified Public accountants (AICPA), U.S.
GAO Government Auditing Standards, latest revision, the provisions of the federal Single Audit
Act of 1984 (as amended) and U.S. OMB Circular A-133, Audits of States, Local Governments,
and Non-Profit Organizations. If a single audit is required, the work will be conducted in
accordance with generally accepted governmental auditing standards to meet all federal grant
audit requirements.
C. Reports to be issued
Following the completion of the audit of the fiscal year's financial statements, the Auditor shall
issue a report on the fair presentation of the financial statements in conformity with generally
accepted accounting principles as well as a report on internal controls over financial reporting
and on compliance and other matters based on an audit of financial statements performed in
accordance with Government Auditing Standards.
The Auditor shall communicate in a letter to management any reportable conditions found
during the audit. A reportable condition shall be defined as a significant deficiency in the design
or operation of the internal control structure, which could adversely affect the organization’s
ability to record, process, summarize, and report financial data consistent with the assertions of
management in the financial statements.
Irregularities and illegal acts. Auditors shall be required to make an immediate written report
of all irregularities and illegal acts of which they become aware to the following parties:
Mayor of the Town of Highland Park
4700 Drexel Drive
Highland Park, Texas 75205
(214) 559-9318
Committee Chairperson
Finance and Audit Advisory Committee
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