Annual Financial Audit

The Socorro Independent School District is seeking a public accounting firm to perform the annual audit for fiscal years, starting with 25/26, with the option to renew the contract for four additional one-year options. The audit will include the performance of certain audit procedures for the purpose of reviewing the accuracy of fiscal information provided by the district. The selected firm will be required to provide a comprehensive annual financial report, a management letter, and other services as specified in the Request for Qualifications. Key considerations for the project include the firm's experience in performing Texas school district/government audits, the qualifications of the staff, and the firm's ability to provide a comprehensive audit plan. The district is looking for a firm that can provide high-quality services, meet the requirements of the Request for Qualifications, and demonstrate a clear understanding of the work to be performed. Some key points to consider for this opportunity include: • The district has a membership of 47,200 in grades pre-kindergarten through 12, on 49 campuses. • The 2024/2025 operating budget was $569,707,106. • The district expended federal financial assistance for several programs, including the National School Lunch Program, State, Local, ESEA, IDEA, CARES, SHARS, and MAC programs. • The selected firm will be required to provide a comprehensive annual financial report in a form acceptable to the TEA and within the time frame stipulated in the TEC, §44.008(d), of 150 days subsequent to the close of the fiscal year for which the audit was made. • The firm will be expected to review the detailed audit work plan and schedule with the director of finance prior to commencing the audit assignment each year. • The district intends to sell bonds from time to time, which may require the audited financial statements and Auditors opinion to be printed in total or as a part of the section of or addendum to the official statement for bond issues.