Audit Services Audit Services 2026-2030

I. INTRODUCTION
A. General Information
The Village of Woodridge is requesting proposals from qualified firms of certified public accountants to
audit its financial statements for the fiscal year ending December 31, 2026, with the option of auditing its
financial statements for each of the four subsequent fiscal years.
There is no expressed or implied obligation for the Village of Woodridge to reimburse responding firms for
any expenses incurred in preparing proposals in response to this request.
To be considered, one (1) pdf electronic copy via email (dclary@woodridgeil.gov) of a proposal must be
received by Daren Clary, Assistant Director of Finance, at Five Plaza Drive, Woodridge, Illinois, 60517-
5014 by 10:00AM on August 28, 2026. The Village of Woodridge reserves the right to reject any or all
proposals submitted.
During the evaluation process, the Village reserves the right to request additional information or
clarifications from proposers. Firms may be requested to make oral presentations to the Village as part of
the final evaluation process.
The Village of Woodridge reserves the right to retain all proposals submitted and to use any ideas in a
proposal regardless of whether that proposal is selected. Submission of a proposal indicates acceptance by
the firm of the conditions contained in this request for proposal, unless clearly and specifically noted in the
proposal submitted and confirmed in the engagement letter between the Village of Woodridge and the firm
selected.
It is anticipated the selection of a firm will be completed by September 10th, 2026. Following the
notification of the selected firm, an engagement letter is anticipated be executed between both parties at the
September 17, 2026 meeting of the Woodridge Village Board of Trustees.
The Northern Will County Water Agency may officially accept the selected firm at their annual Board
meeting scheduled for September 14, 2026.
The Village has employed Lauterbach & Amen, LLP of Naperville as auditors since 2018.
B. Term of Engagement
A five-year initial engagement is contemplated, subject to the annual review and recommendation of the
Finance Department, the satisfactory negotiation of terms (including a price acceptable to both the Village
of Woodridge and the selected firm), and the concurrence of the Board of Trustees of the Village of
Woodridge.
C. Subcontracting
No subcontracting will be permitted.
2

II. NATURE OF SERVICES REQUIRED
A. Entity
The Village of Woodridge comprises most functions and activities of municipal operations. The Village's
financial statements include all funds, departments, agencies, boards, commissions and other
organizations over which the Village of Woodridge officials exercise oversight responsibility.
B. Scope of Work to be Performed
To meet the requirements of this request for proposal, the audit shall be performed in accordance with
generally accepted auditing standards as set forth by the American Institute of Certified Public
Accountants (AICPA). These audits are to be performed in accordance with the provisions included in this
request for proposal.
The Village of Woodridge desires the auditor to express an opinion on the fair presentation of its
combining and individual fund and account group financial statements and schedules in conformity with
generally accepted accounting principles. The auditor is not required to audit the supporting schedules
contained in the Annual Comprehensive Financial Report (ACFR). 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 or statistical sections of the report.
The auditor shall render an opinion separately on the financial statements of the Woodridge Public
Library.
The auditor shall render an opinion separately on the financial statements of the Seven Bridges Golf
Course.
The auditor shall render an opinion separately on the financial statements of the Village Greens Golf
Course.
The auditor shall render an opinion separately on the financial statements of the Northern Will County
Water Agency, as the Village is acting Treasurer.
The auditor shall be responsible for preparing the Management's Discussion & Analysis (MD&A) as
required by the Government Accounting Standards Board as mandated by generally accepted auditing
standards, according to the guidelines and requirements set forth by the Government Finance Officers
Association (GFOA). Staff shall review the MD&A and provide any necessary explanations.
The auditor shall also be responsible for preparing the supplemental and statistical information (trend
information only) required by the Government Accounting Standards Board as mandated by generally
accepted auditing standards.
The auditor is responsible for expressing an opinion on management's assertion that the Village of
Woodridge conformed to any compliance and reporting requirements of the State of Illinois for the Tax
Increment Financing District for the 75th Street Corridor Redevelopment Tax Increment Financing District
#3.
3

The auditor is responsible for expressing an opinion on the management's assertion that the Village of
Woodridge complied 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. The Village does not
anticipate any single audits during the 5-year term.
The auditor is responsible for the compilation of the Illinois Comptroller's Annual Financial Report for the
Village and NWCWA. The responsibility also includes preparation of the Annual Financial Report and
electronically filing the report with the Comptroller's office.
The auditor shall provide to the Village all audit adjustments including appropriate backup
documentation, and will meet with staff to discuss these final adjustments.
An audit partner and/or manager shall be available not only during the audit preparation period, but also
on an as needed basis to answer questions in a timely manner and provide guidance on any particular issue
that may arise throughout the contract period.
C. Auditing Standards to Be Followed
To meet the requirements of this request for proposal, the audit shall be performed in accordance with
generally accepting auditing standards, the standards as set forth by the American Institute of Certified
Public Accountants, and, if necessary, generally accepted government auditing standards issued by the
United States General Accounting Office (GAO, 1994), the provisions of the federal Single Audit Act of
1984 (as amended in 1996) and U.S. Office of Management and Budget (OMB) Circular A-I33, Audits of
States, Local Governments, and Non-Profit Organizations. Any special compliance and reporting
requirements of the State of Illinois for Tax Increment Financing Districts shall be followed.
D. Reports to be issued
The auditor will provide covers, binders and any dividers needed for the ACFR. The auditor will provide
copies of all sections of the report and will be required to punch, collate and bind documents. The auditor
shall prepare the following reports including typing, reproducing and assembling, at the completion of the
audit:
1. Two (2) copies of the Annual Comprehensive Financial Report. An electronic format of the whole
ACFR will be provided to the Village in PDF format. The auditor will prepare all financial statements
and notes to the financial statements. The auditor shall make the ACFR available in Excel files as
requested.
2. Two (2) copies and one (1) pdf electronic file of the report on the compliance with provisions of 65
ILCS 5/11-74 of the Illinois Tax Increment Redevelopment Allocation Act.
3. One (1) pdf electronic file of the Illinois Comptroller's Annual Financial Report for the Village of
Woodridge.
4. Five (5) copies of the Woodridge Library Annual Financial Report and one (1) pdf electronic copy. The
auditor will prepare all financial statements and notes to the financial statements.
5. Five (5) copies of the Seven Bridges Golf Course Financial Report and one (1) pdf electronic copy.
4

6. Two (2) copies of the Village Greens Golf Course Financial Report.
7. Ten (10) copies and one (1) pdf electronic copy of the Northern Will County Water Agency Annual
Financial Report and SAS 114 Letter.
E. Other/Miscellaneous Services
2. Two (2) copies of the management letter communicating any reportable conditions found during the
audit with the appropriate recommendations for improvement. The Director of Finance shall review the
letter before finalizing. The letter should contain management's response for the fiscal year being
audited, status of comments of the previous fiscal year, and GASB pronouncement(s) to be
implemented in the following fiscal year.
3. Prepare responses to prior year comments from the Government Finance Officers Association Review
Committee relating to the Certification of Achievement for Excellence in Financial Reporting Award
Program.
4. Auditor shall be required to make an immediate written report of all irregularities and illegal acts of
which they become aware and present such report to the Director of Finance, the Assistant Director of
Finance and/or the Village Administrator.
5. Prepare the Representation Letter.
6. Review and mail confirmation letters.
7. Auditor to provide updated Peer Review Opinion and Peer Review Acceptance Letter, per GATA
reporting requirements by the State of Illinois.
Failure to deliver the reports and other/miscellaneous information by the appropriate deadlines may result
in a 10% reduction of the audit fee and termination of future audit engagements.
F. Special Considerations
The Village has received the Certificate of Achievement of Excellence in Financial Reporting for thirteen
consecutive years. The ACFR for each of the fiscal years covered by this request for proposal is expected to
be submitted to the Government Finance Officers Association for consideration for the certificate. The
Village's annual comprehensive financial reports are expected to meet GFOA award program requirement.
The auditor will be expected to meet the GFOA award program requirements. The auditor will be expected
to review the final draft of the ACFR for compliance with the current certificate program checklist.
The Schedule of Expenditures of Federal Awards and related auditor's report, as well as the reports on
internal controls and compliance are not to be included in the annual comprehensive financial report, but
are to be issued separately.
The auditor will be required to inform and assist the Village in implementing future accounting
pronouncements issued by the Government Accounting Standards Board that might impact the Village.
Such assistance shall be included as part of the proposed fee for that year. The auditor will prepare any
GASB-related journals needed pertaining to the government-wide financial statements, and provide those
entries to the Village Finance Department.
5

The auditor's partner or manager shall be available not only during the audit preparation period, but also,
as reasonable, on an as-needed basis to answer questions or provide guidance on any particular issue that
may arise throughout the contract period.
G. Working Paper Retention and Access to Working Papers
All working papers and reports must be retained, at the auditor's expense, for a minimum of five (5) years,
unless the firm is notified in writing by the Village of Woodridge of the need to extend the retention
period. The auditor will be required to make working papers available, upon request, to the Village of
Woodridge.
In addition, the firm shall respond to the reasonable inquiries of successor auditors and allow successor
auditors to review working papers relating to matters of continuing accounting significance.
III. DESCRIPTION OF THE VILLAGE
A. Name and Telephone Number of Contact Person
The auditor's principal contact with the Village of Woodridge will be Daren Clary, Assistant
Director of Finance, or a designated representative, who will coordinate the assistance to be provided
by the Village to the auditor. Following are the names and telephone numbers of key Finance
Department personnel:
John Harrington Director of Finance (630) 719-4713
Daren Clary Assistant Director of Finance (630) 960-7096
Richelle Sanchez Fiscal Operations Manager (630) 719-4719
B. Background Information
The Village of Woodridge, a home rule community as defined by the Illinois Constitution, was
incorporated in 1959 and is located approximately 26 miles southwest of the City of Chicago in Cook,
DuPage, and Will Counties. The Village currently has a land area of nine square miles and a population of
34,158. The Village of Woodridge's fiscal year begins on January 1st and ends on December 31st. The
Village's annual budget for the fiscal year ending December 31, 2026, totals $99,331,637, of which $34.6
million is for the general fund, $3.0 million is for special revenue funds, $36.3 million is for capital projects
funds, $2.4 is for debt service, $5.4 million is for the police pension fund and $16.5 million is for the
proprietary funds.
The Village of Woodridge is organized into 5 departments (Administration, Community Development,
Finance, Police and Public Works). The Village employs approximately 125 full-time equivalent
employees. No significant changes to key personnel since the last audit.
More detailed information on the government and its finances can be found in the Budget Document and
the ACFR which is available on the Village's website at:
https://www.woodridgeil.gov/my_government/finance/financial_reports.php
6

C. Fund Structure
The Village of Woodridge uses the following fund types and account groups in its financial reporting:
Number of Individual Funds
Fund Type/Account Group As of December 31, 2025
General 3
Special Revenue 7
Debt Service 1
Capital Project 2
Enterprise 3
Internal Service 1
Pension Trust 1
Fixed Assets (GFAAG) 1
The Village does not anticipate any fund(s) to be opened or closed during the 5-year term.
D. Budgetary Basis of Accounting
The Village of Woodridge prepares its budgets on a basis consistent with generally accepted accounting
principles.
E. Federal and State Financial Assistance
At times, the Village is the recipient of both Federal and State grants. As required, by statute, special
grant audits are to be completed by the auditors.
F. Pension Plans
The Village of Woodridge contributes to two defined-benefit pension plans; the Illinois
Municipal Retirement Fund and the Woodridge Police Pension Fund. The Illinois Municipal
Retirement fund is an agent-multiple employer public employee retirement system. The Police
Pension Fund is a single employer defined benefit pension plans. The Village also offers
employees the opportunity to participate in a 457 deferred compensation plan.
Multiple Employer
Single Employer
Defined Benefit Plans
Defined Benefit
Pension Plan Cost Sharing Agent Plans
Illinois Municipal Retirement Fund X
Police Pension Fund X
7

H. Joint Ventures
The Village of Woodridge participates in four joint ventures with other governments.
NAME OF JOINT
TYPE OF SERVICE PROVIDED
VENTURE
DuPage Water Commission Supplies Lake Michigan water to its members.
(DWC)
Northern Will County To acquire and provide a Lake Michigan water
Water Agency (NWCWA) system to the areas in Will County. The Village of Woodridge is
Treasurer of the Agency.
Intergovernmental Personnel For health insurance and other employee
Benefit Cooperative (IPBC) benefits
Intergovernmental Risk General Liability Insurance
Management
Agency (IRMA)
I. Magnitude of Finance Operations
The Village of Woodridge Finance Department provides the budgetary, accounting, payroll, fixed assets,
utility billing, investment, purchasing, accounts receivable and accounts payable functions. The accounting
and financial reporting of the Village are centralized. The Department has a staff of seven (7) full-time and
one (1) part-time employees.
The Village currently has 13 banking/investment accounts across 7 financial institutions.
J. Computer Systems
The day-to-day transactions of the Village are conducted with the aid of a computerized governmental
accounting ERP system. The enterprise resource planning solution is Munis, a Tyler Technologies system
operating on a virtual server. Tyler is headquartered in Plano, Texas.
K. Internal Audit Function
None
L. Availability of Prior Audit Reports and Working Papers
Interested proposers who wish to review prior years' audit reports and management letters should refer to
the Village website. The Village of Woodridge will use its best efforts to make prior audit reports available
to proposers to aid their response to this request for proposals.
M. Actuary
All actuary services are currently provided by Lauterbach & Amen (630) 821-0158.
8

N. Debt
The Village of Woodridge reports only one (1) debt service fund which includes the series itemized below:
Series 2014-partial refunding of Series 2008 due in annual installments until maturity in 2033.
Series 2017-partial refunding of Series 2008/2014 due in annual installments until maturity in 2028.
Series 2019-new bonds due in annual installments until maturity in 2029.
Series 2021-new bonds due in annual installments until maturity in 2046.
Series 2026-new bonds due in annual installments until maturity in 2046.
No additional debt is currently anticipated to be issued within the next five years.
O. Insurance Coverage
The Village participates in the Intergovernmental Risk Management Agency (IRMA). IRMA is an
organization of municipalities and special districts in Northeastern Illinois which have formed an
association under the Illinois Intergovernmental Cooperation Statute to pool its risk management needs.
The agency administers a mix of self-insurance and commercial insurance coverage; property/casualty
and workers' compensation claim administration/litigation management services; unemployment claim
administration; extensive risk management/loss control consulting and training programs; and a risk
information system and financial reporting service for its members.
The Village's payments to IRMA are displayed on the financial statements as expenditures/expenses in
appropriate funds. The Village of Woodridge (member) assumes the first $25,000 of each occurrence, and
IRMA has a mix of self-insurance and commercial insurance at various amounts about that level. Each
member appoints one delegate, along with an alternate delegate, to represent the member on the Board of
Directors. The Village does not exercise any control over the activities of the Agency beyond its
representation on the Board of Directors. Initial contributions are determined each year based on the
individual member's eligible revenue as defined in the by-laws of IRMA and experience modification
factors based on past member loss experience. Members have a contractual obligation to fund any deficit
of IRMA attributable to a membership year during which they were a member. Supplemental
contributions may be required to fund these deficits.
IV. TIME REQUIREMENTS
The auditors must be able to meet the following deadlines for the fiscal year audit:
1. Detailed Audit Plan - the auditor shall provide the Village both a detailed audit plan and a list of all
schedules to be prepared by the Village, as agreed upon by the Village, prior to the audit, but no later than
December 31 of each year.
2. Preliminary fieldwork - preliminary work shall be completed by February 28 of each year.
3. Fieldwork - the auditor shall begin the fieldwork portion of the audit by the last week of March and
complete all fieldwork within two weeks of initiation. The Village shall be notified, in advance, of the
audit team to be assigned to the Village's engagement. A conference room will be made available. This
room can comfortably fit up to six people plus equipment.
4. Draft Reports - the auditor shall supply electronically the initial draft of the ACFR, including the
auditor's report, financial statements, notes to the financial statements and recommendations to
9

management by the date agreed upon and specified in the Detailed Audit Plan.
5. Final Reports - all financial statements and reports must be delivered to the Village in final and complete
form at least one week prior to the Board meeting date, as determined by the Village, in which the audit
will be presented for acceptance.
V. ASSISTANCE TO BE PROVIDED TO THE AUDITOR AND REPORT PREPARATION
The Finance Department staff and responsible management personnel will be available during the audit to
assist the firm by providing information, documentation and explanations. The preparation of
confirmations will be the responsibility of the Village of Woodridge as directed by the auditor.
VI. PROPOSAL REQUIREMENTS
A. General Requirements
1. Inquiries
Inquiries concerning the Request for Proposals shall be directed electronically to Daren Clary,
Assistant Director of Finance, at dclary@woodridgeil.gov by August 7, 2026. The Village will
prepare and send a response to all inquiries by August 14, 2026.
2. Submission of Proposals
One (1) pdf electronic copy is required.
Proposals are due no later than 10:00AM on August 28, 2026 to the attention of the above.
Proposal shall be in the following format:
Title Page
Title page showing the request for proposal subject; the firm's name; the name, address and telephone
number of the contact person; and the date of the proposal.
Table of Contents
Transmittal Letter that includes the points identified below:
* A statement that the firm is authorized to conduct business in the State of Illinois.
* A brief history of the company.
* The number of the firm's employees.
* The number of years the firm has been in business in Illinois.
* The proposer understands the work to be accomplished.
* The proposer's commitment to perform the work and to meet the stipulated timelines.
* A statement of why the firm believes it to be the best qualified to perform the engagement.
* A signed statement that the proposal is a firm and irrevocable offer for ninety (90) days from the date of the
proposal.
10