Professional Auditing Services

The City of Elgin is seeking a qualified firm of certified public accountants to audit its financial statements for the fiscal year ending December 31, 2026, with the option to audit the four subsequent fiscal years. The audit is to be performed in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards. The selected firm will be required to express an opinion on the fair presentation of the City's financial statements and to provide various reports, including a report on internal control over financial reporting and a report on compliance with applicable laws and regulations. The firm will also be required to communicate any reportable conditions found during the audit to management. Some key points to consider: * The City of Elgin has a complex organizational structure, with seven divisions and a total payroll of approximately $120 million. * The City operates under the Council-Manager form of government. * The City's fiscal year begins on January 1st and ends on December 31st. * The City utilizes fund structures in accordance with current governmental accounting standards. * The City participates in three pension plans and has various federal and state grants. * The City's computer systems include Central Square Naviline for accounting and budgeting, and Microsoft Office 365 for office productivity. * The selected firm will be required to provide a sealed dollar cost bid, which should include all pricing information relative to performing the audit engagement on a "not to exceed" basis. * The City of Elgin reserves the right to reject any or all proposals and to waive informalities in any proposal. * The selected firm will be required to comply with all laws, rules, and regulations pertaining to public contracts, including the payment of prevailing wages. * The firm will be required to provide a written statement that it is independent of the City of Elgin, as defined by generally accepted auditing standards. * The firm will be required to identify and describe any anticipated potential audit problems and to provide a plan for resolving these problems. * The firm will be required to provide a sample format for the required reports. * The City of Elgin will provide the selected firm with reasonable workspace, desks, and chairs, as well as access to a telephone, internet, and photocopying facilities. * The selected firm will be required to cooperate with any other auditors in the City's employ and to provide any necessary information or assistance to the City. * The firm will be required to comply with all applicable federal, state, and local laws and regulations, including those related to prevailing wages, minimum wage, and workplace safety. * The firm will be required to secure all necessary permits and licenses and to pay all charges and fees associated with the performance of the audit. * The City of Elgin will have the right to audit any records in the possession or control of the selected firm to determine compliance with the provisions of the contract. * The selected firm will be required to provide written notice of any changes to its professional relationships or any other matters that may affect its ability to perform the audit. * The firm will be required to maintain a policy of comprehensive general liability insurance with limits of at least $2,000,000 aggregate for bodily injury and $2,000,000 aggregate for property damage. * The firm will be required to maintain a policy of professional liability insurance with a combined single limit of not less than $2,000,000 per occurrence. * The selected firm will be required to indemnify and hold harmless the City of Elgin, its officers, employees, agents, boards, and commissions from and against any claims, suits, judgments, costs, attorney's fees, damages, or other relief arising out of or related to the performance of the audit. * The firm will be required to cooperate with the City of Elgin in the event of any dispute or claim arising out of or related to the performance of the audit.