City of Milford Auditing Services

Background

The City of Milford, located in both Kent and Sussex counties in Delaware, is a full-service municipal government serving an estimated population of 14,100. The City provides various utilities including water, wastewater, and electric services, along with public services such as street maintenance and solid waste collection. The purpose of this Request for Proposal (RFP) is to solicit proposals from qualified certified public accounting firms to conduct auditing services for the City for three fiscal years ending June 30, 2026, 2027, and 2028, with the option for two one-year extensions.

Work Details

The selected firm will provide auditing services that include: 1. Expressing an opinion on the City’s basic financial statements in accordance with generally accepted auditing standards. 2. Examining and reporting on the City’s internal control structure with recommendations for any findings. 3. Issuing reports on: a. The fair presentation of financial statements in conformity with generally accepted accounting principles. b. Compliance and internal control over financial reporting based on the audit of financial statements. c. Compliance and internal control over compliance applicable to each major federal program as required by Uniform Guidance. d. Schedule of Expenditures of Federal Awards and related auditor’s reports. 4. Additional assistance including development of communications to governance, review of current guidance from the Accounting Standards Board (GASB), annual meetings with City Council to present audit results, development of a detailed audit plan, review of content for the Annual Comprehensive Financial Report (ACFR), delivery of a high-resolution PDF document containing all relevant materials, and providing suggestions for improvement in accounting procedures.

Period of Performance

The contract will cover auditing services for three fiscal years ending June 30, 2026, 2027, and 2028, with potential extensions for two additional years.

Place of Performance

City of Milford, Delaware.

Bidder Requirements

Firms must be licensed certified public accountants in Delaware and may need to obtain a license to practice in the City of Milford if selected. The awarded firm must provide proof of insurance coverage including general liability ($1 million per occurrence), auto liability ($1 million per occurrence), workers compensation ($1 million/$1 million/$1 million), and professional liability ($1 million per claim). All insurance companies must have an A.M. Best rating of A or better.