Specifications include, but are not limited to: The City desires the firm to express an opinion on the fair presentation of its basic financial statements in conformity with generally accepted accounting principles. Management’s Discussion and Analysis and the Required Supplemental Information are not a required part of the basic financial statements but are supplemental information required by the Governmental Accounting Standards Board. The firm is expected to perform certain limited procedures regarding the measurement and presentation of the supplemental information. The firm is to provide an "in relation to" report on the combining financial statements and supplemental information which is presented for purposes of additional analysis and is not part ofthe basic financial statements. The firm will complete all of the financial statements (including fund statements), notes, and all required supplementary schedules. The firm is not required to audit the Introductory and Statistical Section of the report. The firm shall also be responsible for performing procedures required and providing necessary reports for expenditure limitation requirements as stated in ARS § 41-1279.07. The firm is to perform audit work on the Schedule of Expenditures of Federal Awards as required by OMB Circular A-133 and the Compliance Supplement.
