Specifications include, but are not limited to: Pursuant to Oregon Revised Statutes (ORS) Chapter 297, the City Council and Finance Department require independent, outside auditing services to audit the City funds and the Beaverton Urban Redevelopment Agency (BURA) funds. In addition, the audit firm is to issue the required opinion letters in order for the City to satisfy the requirements to issue a “single audit” edition of its General-Purpose Financial Statement. The contract period is for five years with the option to renew the agreement for five one-year extensions upon mutual agreement of parties. The audit period for the first year shall cover the fiscal year July 1, 2023 to June 30, 2024. The audits of the General Purpose Financial Statements shall be made in accordance with auditing standards generally accepted in the United States of America, the audit standards promulgated in the U.S. Government Accountability Office’s Government Auditing Standards also known as Generally Accepted Government Auditing Standards (GAGAS), the provisions of the U.S. Office of Management and Budget (OMB) “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance)”, Audits of State and Local Governments, and the requirements of the Minimum Standards for Audits for Oregon Municipal Corporations, and will include tests of the accounting records and such other auditing procedures as the auditor considers necessary in the circumstances in order to allow for an expression of an opinion of the General Purpose Financial Statements being audited. The audit shall also be compliant with all other applicable federal, state, and local laws and regulations. Audits to be performed include: • City of Beaverton Annual Comprehensive Financial Report (“ACFR”) • Beaverton Urban Redevelopment Agency (“BURA”) Annual Financial Report • Single Audit Financial Statements • Sub-Recipient Audits of Non-Profit CDBG Grantees (as needed) • Review the adequacy of the system of internal controls, and report on those controls in a separate Memorandum on Internal Controls.
