Request for Proposals: Annual Financial Statement Audit
| Location: | Vermont |
|---|---|
| Posted: | Jan 5, 2026 |
| Due: | Feb 27, 2026 |
| Agency: | City of Winooski |
| Type of Government: | State & Local |
| Category: |
|
| Publication URL: | To access bid details, please log in. |
| Bid Title: |
Request for Proposals: Annual Financial Statement Audit
|
| Category: | RFPs, RFQs and Bids |
| Status: | Open |
|
Attachment Preview
City of Winooski
27 West Allen Street
Winooski, VT 05404
(802) 655-6410
Annual Financial Statement Audit
Request for Proposal
Issued: January 5, 2026
Revised: N/A
Deadline for Submissions: 1:00p.m. Friday, February 27, 2026
City of Winooski
Vermont’s Opportunity City
27 West Allen Street
Winooski Vermont 05404
802 655 6410
winooskivt.gov
Table of Contents
1. Purpose ...................................................................................................................... 2
2. Scope of Service and Proposal Content ................................................................ 2
A. Nature of Services ........................................................................................ 2
B. Report Requirements ................................................................................... 3
C. Timing ............................................................................................................. 3
D. City Assistance .............................................................................................. 3
E. Invoicing ......................................................................................................... 3
3. Proposal Submission ................................................................................................ 4
A. General Requirements ................................................................................. 4
B. Proposal Contents ......................................................................................... 4
C. Inquiries and Addenda .................................................................................. 5
D. Submission Method ...................................................................................... 5
4. Evaluation and Selection Process .......................................................................... 5
5. General Conditions ................................................................................................... 6
A. No City Obligation ......................................................................................... 6
B. No Contract ................................................................................................... 7
C. Respondent’s Expenses ............................................................................... 7
D. Conflict of Interest ........................................................................................ 7
E. Solicitation of Council Members .................................................................. 7
F. Confidentiality ............................................................................................... 7
G. Independent Contractor ............................................................................... 7
H. Indemnification ............................................................................................. 8
I. Insurance ......................................................................................................... 8
J. Formal Contract and City Exceptions .......................................................... 8
Appendix A – Respondent Information ...................................................................... 9
Appendix B – Indemnification, Defend and Hold Harmless Agreement ................ 10
Appendix C – Non- Collusion Agreement .................................................................. 11
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City of Winooski
Vermont’s Opportunity City
27 West Allen Street
Winooski Vermont 05404
802 655 6410
winooskivt.gov
1. Purpose
The City of Winooski (the City) invites qualified, independent Certified Public Accountants,
licensed to practice in the State of Vermont, to submit proposals to conduct an annual audit of
its financial statements for the fiscal year ending June 30, 2026. The City anticipates entering a
one-year contract for FY2026, with the option to renew for up to two additional one-year terms
(FY2027 and FY2028), subject to satisfactory performance, continued need, and annual
appropriation. All proposals must conform to the specifications outlined below.
The deadline for submitting Proposals is Friday, February 27, 2026, at 1:00 PM. Those
submitting proposals are responsible for checking the City’s website
(https://www.winooskivt.gov/bids.aspx) for additional information and addenda. Proposals
received after the deadline will not be considered.
Questions may be directed to the City representative for this project:
Angela Aldieri, Finance Director 802 734 2186 / aaldieri@winooskvt.gov
2. Scope of Services and Proposal Content
The City of Winooski is a single incorporated municipal government. In addition to the general
fund there are three proprietary enterprise funds, and several special revenue funds.
Governmental records are maintained on the modified accrual basis of accounting and
Proprietary fund records are maintained on a full accrual basis of accounting. The City of
Winooski currently utilizes the NEMRC accounting system software for maintaining the City
general ledger and sub ledgers. Payroll processing services are conducted by a third-party
vendor using the Evolution software system.
A. Nature of Services
Required services consist of an audit of the City financial statements in accordance with
generally accepted auditing standards, Government Auditing Standards, and Uniform
Guidance. The City may expend federal awards in excess of the Uniform Guidance threshold
requiring a Single Audit for FY2026. If federal expenditures exceed the threshold, the auditor
shall perform the Single Audit in accordance with 2 CFR Part 200. This will include those
procedures which are necessary to express an opinion as to the accuracy and completeness of
the financial reports. The City reserves the right to require rotation of the engagement partner
after a reasonable period, consistent with professional standards.
The Finance Office of the City will prepare for auditing all financial statements, notes to
financial statements, and all supporting documents and data including year-end trial balances.
The auditor will be required to review these statements for accuracy and report adjustments
they recommend to City staff for consideration. The auditor would be responsible for assisting
the City and/or guidance in the creation of disclosures and schedules for any new GASB
pronouncements.
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City of Winooski
Vermont’s Opportunity City
27 West Allen Street
Winooski Vermont 05404
802 655 6410
winooskivt.gov
At the conclusion of the audit, a representative of the auditing firm shall appear before City
Council to present and discuss the findings resulting from the audit. Representatives of the
auditing firm must be available during the year to answer questions that may arise regarding
the preparation of financial statements and application of standards at no additional cost.
B. Report Requirements
The following auditor reports are required at the completion of the audit.
• All statements, exhibits, and notes as required by GASB with the auditors’ opinion
thereon.
• A separate internal controls letter with comments and recommendations.
The auditing firm will submit an electronic copy of the final audit report in searchable PDF
format and fifteen (15) printed and bound copies to the Finance Office of the City of Winooski.
The auditing firm will hold a planning/entrance conference with the City Manager, the Finance
Director and other required City staff prior to the commencement of the audit.
The auditing firm will schedule an exit conference with the City Manager, the Finance
Director, and other required City staff to review the internal controls letter and draft copies of
the reports before such reports become final and are issued.
C. Timing
The date for which preliminary work may commence will be scheduled by mutual agreement
of all parties. The auditor shall provide a list of requested documents for review at least 45
days prior to the commencement of field work.
Audit fieldwork shall commence no later than October 15th with a draft audit report to the City
Finance Director no later than January 15th. The final financial audit report with the required
letters and statements shall be delivered to the Finance Director no later than January 31st.
D. City Assistance
City finance staff will be responsible for the following:
• Preparation of trial balance
• Copying of documents
• Completion of confirmations
• Preparation of financial statements in conformity with generally accepted accounting
principles
• Scheduling of workspace for field work
E. Invoicing
The auditing firm will submit an invoice monthly or at other intervals as agreed upon with the
Finance Director on its letterhead for work performed indicating the total number of hours of
service and the composite billing rate. The auditing firm will not submit an invoice for
preliminary work prior to the start of field work unless approved by the Finance Director. The
auditing firm will maintain adequate records to substantiate this invoice by the number of
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City of Winooski
Vermont’s Opportunity City
27 West Allen Street
Winooski Vermont 05404
802 655 6410
winooskivt.gov
hours of service rendered by individual members of the firm and each member staff level.
These records will be made available to the City upon request.
3. Proposal Submission
The Proposal submission deadline is Friday, February 27, 2026, at 1:00 PM. Proposals received
after the deadline will not be considered. Respondents shall meet the following requirements.
A. General Requirements
Before preparing and submitting a Proposal, Respondents shall have carefully examined this
RFP document and any addenda. Respondents are responsible for checking the City Website
(https://www.winooskivt.gov/bids.aspx) for additional information and addenda.
B. Proposal Contents
The Proposal should include or identify:
I. Respondent Information: Complete the Information Form provided as Attachment
A.
II. Written Statement: Confirm in writing that the Respondent fully understands the
required work, responsibilities, special provisions, and general conditions. In
addition, include:
a. Exceptions: Any proposed changes or exceptions taken regarding the project
b. Affiliations: Identify any parent corporation, subsidiaries, or affiliations, if
applicable.
c. References: A brief description of at least three (3) current governmental clients
of your firm. Indicate client contact information (name, title, address, e-mail,
phone)
d. Disciplinary Disclosure: A written disclosure listing regulatory action taken by an
oversight body against the Respondent or its employees or to which the
Respondent or employees have been party to in the past five years.
e. A copy of your firm’s most recent peer review report.
III. Proof of Insurance: A certificate of insurance in accordance with the proposal
specifications
IV. Work Plan: Submit a work plan to accomplish the scope of services within the
required time frame. The work plan should include time estimates by staff level for
each of the significant segments of the work and the staff assigned to each
segment. Include a brief description of audit procedures to be used during the audit
process for each segment.
V. Cost Estimate: Total not to exceed cost to perform the FY2026. Any additional fee
required if a single audit is needed should be separately listed. Estimated contract
amounts for the FY2027 and FY2028 years should also be presented in the same
format.
VI. Other Forms: Signed and notarized “Indemnification, Defend & Hold Harmless
Agreement” and “Non-Collusion Affidavit” (language provided in Attachments B
and C)
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