Specifications include, but are not limited to: 1. FINANCIAL AUDIT The successful IPA will be expected to comply with all requirements of the New Mexico State Auditor, Governmental Accounting Standards Board, and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) in connection with this audit. It is the responsibility of the IPA to be aware of these requirements. The audit must cover the entire operations of the County of Los Alamos for the Fiscal Year Ended June 30, 2023 (and respective FY2024, and FY2025) and must be conducted in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Governmental Auditing Standards, issued by the Comptroller General of the United States. The audit must include a financial and compliance audit encompassing the basic financial statements, internal service funds, fiduciary funds, budgetary comparisons for required budgeted funds, and the accompanying notes to the financial statements in accordance with the Uniform Guidance, and the State Audit Rule requirements. The IPA must express an opinion on the fair presentation of the County’s basic financial statements, internal service funds, fiduciary funds, budgetary comparisons for required budgeted funds, and the accompanying notes to the financial statements in conformity with GAAP applicable to local governments, and the State Audit Rule requirements. The IPA is not required to audit the statistical section and other information schedules contained in the Annual Comprehensive Financial Report. However, the IPA must provide an "in relation to” opinion on the other information schedules based on the auditing procedures applied during the audit of the basic financial statements and the combining and individual fund financial statements. The audit must include an examination of federal and state assistance grants to the County, and the County’s compliance with the laws of the State of New Mexico, State Auditor’s rules, and requirements of the United States Department of Treasury and Office of Management and Budget. Separate reports required under the Single Audit Act for the federal assistance grants must be included as part of the audit. Any other reports that may be required by the State Auditor in connection with the audit also must be included. Please see schedule of expenditures of federal awards and schedule of expenditures of state awards in the County’s FY2022 ACFR to gain a better understanding of the scope of state and federal assistance. The County’s Finance staff will draft, copy, and distribute the approved annual comprehensive financial report. The financial report including IPA reports are due to the Office of the State Auditor no later than December 1, 20xx following each fiscal year end. The County anticipates the report will be completed and submitted to the Office of the State Auditor prior to the Thanksgiving holiday and expects the successful IPA to plan its work to meet this goal. 2. RESOURCE POOL AUDIT (AGREED UPON PROCEDURES) The Incorporated County of Los Alamos and the United States Department of Energy (DOE) have an Electric Coordination Agreement (ECA) under which the parties combine their electric generation and transmission resources and share the costs based on each party’s energy usage and contribution to the peak demand. The County collects the costs and each month prepares an invoice to the DOE for their net cost of power. The County is seeking accounting and audit services to reconcile the DOE billings to the County’s general ledger for the fiscal year ending June 30, 2023, (and respective June 30, 2024 and June 30, 2025); to verify that such costs are in accordance with the ECA; and to verify that Administrative and General (A&G) costs billed to the DOE are in accordance with Office of Management and Budget circular A-87. The County has an A-87 cost plan for the fiscal year that was prepared by a consultant.
