012 Addendum 1

Description

ADDENDUM #1 RFP 26-012 Audit Services This addendum is being issued to address a follow-up question submitted regarding RFP 26-012: 1. Will there be any changes to the City's financial statements, such as new funds, activities, or component units? A newly approved T‑SPLOST fund will be established for FY26. Over the next two years, ARPA/SLFRF funding will phase out as those allocations conclude. Additionally, I expect a single audit in FY26. 2. Does the City have any suggested changes or improvements for the current audit process? Currently, the City does not have any major changes to recommend. The current hybrid audit process has worked well, and we have found that a hybrid or fully remote approach is the most efficient for our staff. Communication throughout the engagement has been clear and timely, and as we continue refining our internal workflows, we may identify additional opportunities to streamline certain steps. Overall, we are satisfied with the structure and coordination of the audit process 3. Is the audit performed on-site, remotely, or via a hybrid model? Currently, the audit process follows a hybrid format. The auditors are on site for approximately three days, with the remaining procedures completed remotely. 4. In which month is the audit typically performed? We operate on a July–June fiscal year. Preliminary testing is conducted remotely in July, followed by an on‑site audit visit of approximately three days in early October. All remaining audit procedures are completed through Smartsheets. 5. How many entries do the auditors typically post? 10-15 6. Could you provide the fees paid for auditing services for the past three years? Audit fees for the past three fiscal years are as follows: • FY23: $40,520 • FY24: $46,750 • FY25: $55,814 This addendum should be signed and returned with your proposal. Failure to do so may result in the proposal being non-responsive. Christy Case Finance Director City of Commerce Company Name __________________________________________________________ Authorized Representative _________________________________________________ Page 1 of 1