Audit Services
| Location: | Illinois |
|---|---|
| Posted: | Jan 5, 2026 |
| Due: | Jan 27, 2026 |
| Agency: | Lisle village |
| Type of Government: | State & Local |
| Category: |
|
| Solicitation No: | 1427 |
| Publication URL: | To access bid details, please log in. |
| Bid Number: |
1427
|
| Bid Title: |
Audit Services
|
| Category: | Bids |
| Status: | Open |
|
Attachment Preview
VILLAGE OF LISLE
REQUEST FOR PROPOSAL (“RFP”)
# 1427
Audit Services
DUE BY:
TUESDAY, JANUARY 27, 2026
AT 10:00 AM CST
AT:
DEMANDSTAR.COM
Issued: 01/05/2026
1
Table of Contents
1. Description of the Village............................................................................................................... 3
2. Scope of Services ............................................................................................................................ 5
3. Term..................................................................................................................................................... 8
4. Schedule of Prices........................................................................................................................... 8
5. Estimated Timeline .......................................................................................................................... 9
6. Questions ........................................................................................................................................... 9
7. Submission Requirements .......................................................................................................... 10
8. Submission Method....................................................................................................................... 12
9. Respondent’s Understanding of the RFP................................................................................ 13
10. Evaluation Criteria ......................................................................................................................... 13
11. Award ................................................................................................................................................ 14
12. Costs ................................................................................................................................................. 15
14. Modification and Withdrawal of Proposals ............................................................................. 15
15. Notice of Freedom of Information Act ...................................................................................... 15
16. Compliance with Laws.................................................................................................................. 16
17. Governing Law................................................................................................................................ 16
18. Entire RFP ........................................................................................................................................ 16
19. Cancellation of RFP/Reservation of Rights............................................................................. 16
20. Attachments .................................................................................................................................... 16
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Project Overview
The Village of Lisle (“Village”) seeks to enter into an agreement (“Agreement”) with a
qualified certified public accounting firm (“Consultant”) to conduct an annual audit of the
Village’s financial statements for the fiscal year ending April 30, 2026 with the option to
engage the firm in accordance with this request for proposal for the four (4) subsequent
fiscal years, at the Village’s discretion. These audits are to be performed in accordance
with auditing standards generally accepted in the United States (GAAS) for governmental
agencies (collectively referred to herein as “Services”) as described in detail in this
Request for Proposal (“RFP”).
Responses to this RFP will be due on or before 10:00 AM. on January 27, 2026.
The Village reserves the right to reject any and all proposals, or to accept any portion of
any proposal, to waive any formality, technicality or irregularity in any proposal, and to
be the sole judge of the value and merit of the proposals offered. Such decisions by The
Village shall be final and not subject to recourse.
1. Description of the Village
Background Information
The Village of Lisle is located 26 miles west of Chicago in DuPage County, Illinois. Lisle’s
location, access to an excellent work force, and superb amenities are closely tied to the
high quality of life that residents and businesses enjoy. The Village has a total area of 7
square miles and neighbors the prestigious Morton Arboretum. The Village of Lisle
provides a full range of services including police protection, construction and maintenance
of highways, streets and infrastructure, water and sewer utility services, commuter
parking, planning and zoning, engineering and inspection, cemetery operation and
maintenance, economic development, and general administrative services.
Lisle continues to further its reputation as a well-run, financially sound (Aa1 bond rating)
organization. The non-home rule community is a model of fiscal stability with diverse
revenues and targeted expenditures resulting in operational stability for the long term. The
Mayor and six elected at large trustees establish policies to guide the Village’s values,
vision, mission and key strategic performance areas. An appointed Village Manager
collaborates with a talented and efficient staff team to provide progressive municipal
service solutions to residents and businesses.
Current Audit Firm
The Village has employed Baker Tilly as auditors from 2021 - current.
Pension Plans
The Village participates in two pension plans, the Illinois Municipal Retirement Fund (multi-
employer, agent), and the Village of Lisle Police Pension Fund (single employer, defined
benefit). Actuarial services for the Police Pension Fund are provided by an independent
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actuary. The Village includes the Police Pension Fund in the Village’s financial statements.
Independent actuarial services are also provided for the Village’s post-retirement health
plan.
Staff
The Village employs a staff of approximately 100 people. The Finance Department is
made up of seven employees which include a CFO/Deputy Village Manager, Financial
Services Director, Financial Services Manager, two Customer Service Representatives, a
part-time Accountant, and a part-time Accounting Services Clerk.
Computer Software
The Village uses OpenGov for its financial software. The software includes general ledger,
accounts payable, accounts receivable, water billing, cashiering, budgeting, purchasing,
permitting, and licensing. Payroll is processed through Paychex.
TIF Districts
The Village currently has five (5) TIF Districts: the Navistar TIF, the UTI TIF, the Downtown
TIF, the East Ogden TIF, and the Lincoln Ave. TIF. The Navistar TIF and UTI TIF are pay
as you go financing according to redevelopment agreements for the areas. The Downtown
TIF, the East Ogden TIF, and the Lincoln Ave. TIF do not currently have redevelopment
agreements; however, there is interest from developers in all three. There have been
distributions on the Navistar TIF with subsequent distribution submittals expected on an
annual basis. The UTI TIF is anticipated to close in tax year 2026 with a final surplus
declaration in fiscal year 2026-27.
Debt
As of April 30, 2025, the Village had total outstanding bonded debt of $2,010,000.
Fund Structure
The Village of Lisle uses the following fund types in its financial reporting:
Fund Type
Number of Individual
Funds as of April 30,
2025
General
1
Special Revenue
8
Debt Service
1
Capital Project
2
Enterprise
3
4
Internal Service
1
Pension Trust
1
More detailed information on the Village and its finances can be found in the Village’s
Budget for the Fiscal Year Ending April 30, 2026, and the Annual Comprehensive
Financial Report (ACFR) for the Year Ended April 30, 2025. The budget, CAFR and
other pertinent statements can be viewed from the Transparency Section of the Village’s
website here.
Federal and State Financial Assistance
At times, the Village is the recipient of both Federal and State grants. Special grant audits
are to be completed by the auditors as required by statute.
2. Scope of Services
The Village of Lisle is requesting an audit which includes all of the funds, accounts, capital
assets, long-term debt and activities of the Village of Lisle.
The audit firm shall:
i. Express an opinion on the fair presentation of the Village of Lisle financial documents,
combined and individual fund financial statements and schedules in conformity with
generally accepted accounting principles. The auditor is not required to audit the
supporting schedules contained in the Comprehensive Annual Financial Report
(CAFR). However, the auditor is to provide an “in-relation-to” opinion on the supporting
schedules based on the auditing procedures applied during the audit of the basic
financial statements and the combining and individual fund financial statements and
schedules. The auditor is not required to audit the introductory section of the report or
the statistical section of the report.
ii. Provide the Village with any audit adjustments, including appropriate supporting
documentation, meet with staff, and if requested discuss final adjustments.
iii. Prepare any supplemental and statistical information required by the Government
Accounting Standards Board (GASB) as mandated by generally accepted auditing
standards.
iv. Report on compliance with Pubic Act 85-1142 for the Village’s Tax Increment
Financing District.
v. Express an opinion on management’s assertion that the Village of Lisle compiled with
the requirements described in the U.S. Office of Management and Budget (OMB)
Circular A-133 (Single Audit Act) to each of its major federal programs if it becomes
necessary.
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This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.
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