Specifications include, but are not limited to: A. The Consultant will conduct an audit of the financial records and accounts of the City, for FY24 as provided by Section 15 of Chapter XIII of the Charter of the City of Tucson to include the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information in the City’s Annual Comprehensive Financial Report (ACFR). The management’s discussion and analysis, major fund budgetary comparison information and pension plan disclosures are not part of the basic financial statements but are supplementary information required by accounting principles generally accepted in the United States. These areas require certain limited procedures, which consist principally of inquiries of management regarding the method of measurement and presentation of required supplementary information. The Consultant will perform this audit in accordance with auditing standards generally accepted in the United States of America and standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. The audit report must also include a determination as to whether Highway User Revenue fund monies and any other dedicated state transportation revenues received by the City are being used solely for authorized transportation purposes. B. The Consultant will perform an audit of federal funds in compliance with the Single Audit Act of 1984, including but not limited to ensuring that federal funds are being accounted for in compliance with applicable agreements and provisions of Federal law or regulations. As required by Government Auditing Standards and OMB Circular A-133, the Consultant will maintain the working papers for a minimum of three years from the date of the audit reports. These working papers will be made available to representatives of the cognizant audit agency (or its designee), other government audit staff and/or the United States General Accounting Office upon their request and after they have properly notified you on their request to review the working papers. The Consultant will also audit the HUD electronic submission in the REAC system. The Consultant will also input the appropriate information in the electronic version of REAC and the Single Audit including the data collection form, currently using the Federal Audit Clearinghouse website. C. The Consultant will conduct an audit of the books and accounts for FY24 of the Tucson Supplemental Retirement System (TSRS) resulting in the issuance of an audit opinion on the City-prepared TSRS Annual Comprehensive Financial Report. The Consultant will issue the opinion letter no later than the mutually agreed upon date between the City and the Consultant as per written verifications that the books and accounts are closed and ready to be audited...
