The CITY proposes to enter into a contract for audit services with an independent Certified Public Accounting Firm. The scope of work shall also include consultations by telephone throughout the year, as needed, for accounting and financial presentation related items. The duration of the contract will be for three years with the option of the CITY to renew for additional years. The audit of the City’s financial statements shall be performed in accordance with auditing standards generally accepted in the United States of America, the provisions of Oregon Revised Statutes, as specified in Oregon Administrative Rules 162-010-0000 through 162-010-0320 of the Minimum Standards for Audits of Oregon Municipal Corporations, as well as any other applicable audit guidelines needed for compliance and reporting, and perform tests necessary to provide the following opinions: 1. An opinion that CITY’s general purpose financial statements fairly represent CITY’s financial condition and results of operations in accordance with Generally Accepted Accounting Principles (GAAP). 2. An opinion that individual grants were examined for accuracy and that CITY has complied with material terms of state grant contracts. 3. The independent auditor shall review the information systems of accounting and internal control, develop audit programs to adequately test those systems, and form an opinion with respect to the financial statements of the municipal corporation. 4. Audit comments and disclosures required to municipal corporations under Oregon law
