RFP - Professional Auditing Services

Agency: City of Monrovia
State: California
Type of Government: State & Local
  • R - Professional, Administrative and Management Support Services
Posted: Feb 3, 2023
Due: Mar 2, 2023
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RFP - Professional Auditing Services
  • Department: Administrative Services
  • Start Date: 02/02/2023
  • Close Date: 03/02/2023 2:00 PM

The City of Monrovia is requesting proposals from qualified, certified public accounting firms to audit its financial statements for Fiscal Years 2022-23 through 2024-25, with two optional one-year extensions, not to exceed a total of five fiscal years . The City of Monrovia desires an Annual Comprehensive Financial Report (ACFR) to be prepared by the independent auditor and to be fully compliant with all current GASB pronouncements.

RFP Document:

Request for Proposal - Professional Auditing Services


Inquiries regarding this proposal should be directed to Mandy Jiang, Senior Management Analyst by email at mjiang@ci.monrovia.ca.us or (626) 932-5515.

Scope of Work

The selected independent auditor will be required to perform the following tasks:

1. ACFR - Perform an audit of all funds of the City of Monrovia. The audit will be conducted in accordance with Generally Accepted Government Auditing Standards. The ACFR will be prepared by the firm and be in full compliance with all current GASB pronouncements. The firm will render its auditors’ report on the basic financial statements, which will include both Government-Wide Financial Statements and Fund Financial Statements. The audit firm will also apply limited audit procedures to Management’s Discussion and Analysis and required supplementary information.

2. Single Audit - Perform a single audit on the expenditures of federal grants in accordance with OMB Circular A-133 and render the appropriate audit reports on Internal Control over Financial Reporting based upon the audit of the City’s financial statements in accordance with Government Auditing Standards and the appropriate reports on compliance with requirements applicable to each major program, internal control over compliance and on the schedule of expenditures of federal awards, in accordance with OMB Circular A-133. The single audit report will include appropriate schedule of expenditures of federal awards, footnotes, findings and questioned costs, including reportable conditions and material weakness, and follow-up on prior audit findings where required.

3. Management Letter - Issue a separate “Management Letter” that includes recommendations for improvements in internal control, accounting procedures and other significant observations that are considered to be non-reportable conditions. Management letters should be addressed to the City Manager.

4. GANN Limit - Perform agreed upon audit procedures pertaining to the City’s GANN Limit and render a letter, annually, to the City regarding compliance.

5. Annual State Controller’s Report - Prepare the Annual State Controller’s Report for the prescribed authority in the requested format by the State Controller’s Office. A draft of the report should be provided to City staff by January 15 each year, for review before final submission.

6. Housing Successor Statements - Prepare separate component unit financial statements for the Monrovia Housing Authority (the Housing Successor) in conformance with all current GASB pronouncements.

7. GASB Consulting - In addition to expressing an opinion on the City’s compliance with current governmental GAAP, the audit firm shall also be required to provide assistance in the implementation of applicable GASB pronouncements not yet in effect. The auditors will be consulted on an occasional basis throughout the year as an informational resource. Auditors may be asked to provide guidance on the implementation of Governmental Accounting Standards Board (GASB) requirements and specifics of federal and state regulations as they may affect local government accounting. In addition, they may be asked to assist with the implementation of new pronouncements. The firm’s partner/manager will be required to present the ACFR to the City Council and may be required to occasionally attend a City Council meeting to explain or clarify financial statement information or accounting requirements. Additionally, the firm’s partner will be required to attend audit committee meetings. Currently, two (2) mandatory meetings are held each year, one at the beginning and one at the end of the audit to renew the draft ACFR with the Committee. Additional meetings may be required throughout the year.

Time for Performance
Each of the following should be completed for each audit engagement:

Pre-audit conference and interim fieldwork. The pre-audit conference can be scheduled at the start of the interim fieldwork. Both should be completed by June 30. If this is not be feasible for the first year due to time constraints, a different date will be discussed. A detailed audit plan should be provided, including a list of all schedules to be prepared by the City of Monrovia, by the end of interim fieldwork.

Year-end fieldwork should commence no sooner than October 15 and no later than October 31 , and draft reports should be available by November 15. The following reports should be made available by the dates below:

  • Monrovia Housing Authority Report - December 1
  • Photo-Ready Audit Report (ACFR) - December 10
  • Management Letter Comments - December 10
  • Report on the Gann Limit Calculation - December 10
  • State Controller Report for City of Monrovia - January 15
  • State Controller Report for Financing Authority - January 15
  • Single Audit Report - March 1

Submission of Proposals

To be considered, the following must be must be received by the City Clerk’s Office no later than 2:00 p.m. PST on Thursday, March 2, 2023 :

  • Eight (8) hard copies of the Technical Proposal clearly marked on the outside of the envelope/package as follows:
  • Eight (8) hard copies of the Fee Proposals enclosed and sealed in a separate envelope from the Technical Proposal, clearly marked on the outside as follows:
  • One (1) digital copy of the Technical Proposal (NO Fee Proposal by email) sent to: Alice Atkins, City Clerk - aatkins@ci.monrovia.ca.us
  • All hardcopies of the Technical and Fee Proposal must be sent to the City’s Clerk’s Office:

Attn: Alice Atkins
City Clerk's Office
415 South Ivy Avenue
Monrovia, CA 91016

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