The purpose of the Request for Qualifications is to obtain the services of a public accounting firm for the annual audit starting for the fiscal year 2025-2026. The organization-wide audit will encompass the government-wide financial statements, the general-purpose financial statements, combining statements, and other schedules for the Midlothian Independent School District for the fiscal year ending June 30, 2026. The audit is to be performed in accordance with generally accepted government auditing standards contained in the Texas Education Agency Financial Accountability System Resource Guide and requirements found in the Compliance Supplement 2 CFR Part 200 as published by the Office of Management and Budget (OMB). The financial statement audit is to determine whether (1) the financial statements present fairly the financial position, results of operations, and cash flows or changes in financial positions in accordance with generally accepted accounting principles and (2) whether the Midlothian Independent School District has complied with laws and regulations for those transactions and events that may have a material effect on the financial statements. The financial-related audit will also include determining whether (1) financial reports and related items are fairly presented, (2) financial information is presented in accordance with established or stated criteria, and (3) the school district has adhered to specific financial compliance requirements. As a part of the audit of the general-purpose financial statements, the annual audit will also include obtaining an understanding of the school district's internal controls and reporting any reportable conditions to the District’s leadership. A study and evaluation of internal controls will include internal accounting and administrative controls for major federal financial assistance programs, in accordance with standards for risk assessment for major federal financial assistance. Any material weakness noted during the study and evaluation of internal accounting and administrative controls and other kinds of noncompliance and questioned costs will be reported in accordance with the Single Audit Act. Auditors selected must consider the Supplement and the referenced laws, regulations, and OMB Circulars/Uniform Guidance (whether codified by Federal agencies in agency regulations or adopted or implemented by other means) in determining the compliance requirements that could have a direct and material effect on the program(s) of the District. For program-specific audits performed in accordance with a Federal agency’s program-specific audit guide, the auditor must follow such program-specific audit guide. Further, 2 CFR section 200.513(c)(4) provides that Federal agencies are responsible for annually informing OMB of any needed updates to the Supplement. However, auditors must recognize that laws and regulations change periodically and that delays will occur between such changes and revisions to the OMB Supplement. As such, the auditor should perform reasonable procedures to ensure that compliance requirements are current and determine whether there are any additional provisions of Federal and State awards that should be covered by an audit.
