Professional Auditing Services and Agreed-Upon Procedures
| Agency: | Town of Narragansett |
|---|---|
| State: | Rhode Island |
| Type of Government: | State & Local |
| NAICS Category: |
|
| Posted Date: | Apr 3, 2026 |
| Due Date: | Apr 28, 2026 |
| Solicitation No: | B26014 |
| Original Source: | Please Login to View Page |
| Contact information: | Please Login to View Page |
| Bid Documents: | Please Login to View Page |
| Bid Number: |
B26014
|
| Bid Title: |
Professional Auditing Services and Agreed-Upon Procedures
|
| Category: | Bids/RFQs |
| Status: | Open |
|
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TOWN OF NARRAGANSETT, RI
PURCHASING DEPARTMENT
PROFESSIONAL AUDITING SERVICES
AND AGREED-UPON PROCEDURES
Christine Wilson, Finance Director
Susan Gallagher, Purchasing Manager
Bid Opening: Tuesday, April 28, 2026 at 11:00 AM
VENDOR NAME SUBMITTING BID: __________________________________
NOTICE: REQUEST FOR PROPOSALS
PROFESSIONAL AUDITING SERVICES
AND AGREED-UPON PROCEDURES
The Town of Narragansett is seeking proposals from qualified firms of certified public accountants
to audit its financial statements for the fiscal year ending June 30, 2026, with the option of auditing
its financial statements for each of the four subsequent fiscal years. These audits are to be
performed in accordance with generally accepted auditing standards established by the American
Institute of Certified Public Accountants and the standards for financial audits set forth in the
Government Auditing Standards issued by the Comptroller General of the United States.
The Auditors engaged to perform the annual audit of the Narragansett School Department shall
also be engaged to report on their tests of compliance with the School Uniform Chart of Accounts
(UCOA) requirements in an agreed-upon procedures compliance attestation format.
Specifications may be obtained at the Purchasing Office, 25 Fifth Avenue, Narragansett, Rhode
Island between the hours of 8:30 a.m. and 4:30 p.m. Monday through Friday and are available
on the Town of Narragansett website, www.narragansettri.gov.
Pre-proposal questions: Questions relevant to the preparation of a competitive proposal must be
submitted in writing to the below noted contact person by email no later than 4:00 p.m. on April
20, 2026. Responses to all written questions will be addressed in the form of an addendum and
will be emailed to vendors and Auditor General as well as posted on the Town’s website at:
www.narragansettri.gov. Please direct questions to Susan W. Gallagher, Purchasing Manager at
sgallagher@narragansettri.gov.
Separate sealed bids will be received by the TOWN OF NARRAGANSETT, RHODE ISLAND for
PROFESSIONAL AUDITING SERVICES AND AGREED-UPON PROCEDURES on or before
11:00 AM on Tuesday, April 28, 2026 at the office of the Purchasing Manager, 25 Fifth Avenue,
Narragansett, RI and at that time will be opened and read in public.
Three copies of the proposal are to be submitted. All proposals must be submitted with the bid
form provided, and clearly marked:
(Sealed Bid)
PROFESSIONAL AUDITING SERVICES AND AGREED-UPON PROCEDURES
The Town of Narragansett reserves the right to reject any and/or all bids and reserves the right to
award the bid to other than the low apparent bidder if the Town deems that the low apparent
bidder does not possess the personnel, experience and other resources to complete the audit in
accordance with the specifications herein. In any case, the reason for the Town’s action will be
documented.
Individuals requesting interpreter services for the hearing impaired must notify the Finance
Department (401) 782-0644 three business days prior to the bid opening.
Susan W. Gallagher
Purchasing Manager
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Due Dates for Completion of Audit and Delivery of Reports
1. An annual audit shall be completed and final audit reports (inclusive of all audit
communications) related to the financial statements shall be delivered to the Town of
Narragansett, State Auditor General and State Director of Revenue within six months after
the close of the fiscal year for each year (as required by Section 45-10-5 of the General
Laws of Rhode Island). Since Narragansett’s fiscal year ends June 30, the reports must
be filed by December 31 of each year. A copy of the final written correspondence and the
Auditor’s communication with those charged with governance, shall also be delivered to
the State.
Term of Engagement
1. A five-year contract is contemplated, subject to the annual review and recommendation of
the Finance Director with the concurrence of the Town Council and the Superintendent of
the Narragansett School Department. Continuation beyond the initial fiscal year of the
contract will be at the discretion of the Town. Each year must be treated as a separate
audit. The audit contract shall not exceed five fiscal years.
2. Audit contracts covering more than one year shall specify an audit fee for each year and
the number of hours included. The audit fee shall be inclusive of all expenses. The audit
fees are to be separated for the municipal costs, school costs, and enterprise funds
costs as listed on the Bid Form. Bids submitted in any other manner will not be accepted.
The bid should specifically identify the fee for the audit services and the fee for agreed-
upon procedures.
3. Any representations made with the submission will be relied upon and if proven to be false
will be grounds for termination of the contract, if awarded. False representations will also
be grounds for forfeiture of all payments under the contract. This will not limit the Town of
Narragansett from seeking any other legal or equitable remedies.
Audit Standards
1. To meet the requirements of this request for proposals, the audit shall be performed in
accordance with:
Generally accepted auditing standards as set forth by the American Institute of Certified
Public Accountants, the standards for financial audits set forth in the Government Auditing
Standards issued by the Comptroller General of the United States, and the provisions of
U.S. Office of Management and Budget (OMB) Guidance 2 CFR part 200 - Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(OMB Uniform Guidance) - Subpart F – Audit Requirements.
2. The GFOA established the Certificate of Achievement for Excellence in Financial Reporting
Program (ANNUAL COMPREHENSIVE FINANCIAL REPORT Program) in 1945 to
encourage and assist state and local governments to go beyond the minimum requirements
of generally accepted accounting principles to prepare comprehensive annual financial
reports that evidence the spirit of transparency and full disclosure and then to recognize
individual governments that succeed in achieving that goal. The ANNUAL
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COMPREHENSIVE FINANCIAL REPORT shall be in a format that meets the requirements
of the GFOA for submission to this program.
Audit Scope
1. The Town of Narragansett desires the auditor to express an opinion on the fair presentation
of its basic financial statements, which will include government-wide financial statements,
fund financial statements, and notes to the financial statements in conformity with generally
accepted accounting principles.
2. The auditor shall also be responsible for performing certain limited procedures, as required
by generally accepted auditing standards, involving required supplementary information
mandated by the Governmental Accounting Standards Board.
Required Supplementary Information shall include:
Management’s Discussion and Analysis
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and
Actual
Schedules related to defined benefit pension plans and OPEB plans, if applicable
3. The Town of Narragansett also desires the auditor to express an "in-relation-to" opinion
on the supplementary financial statements and schedules based on the auditing
procedures applied during the audit of the basic financial statements.
Supplementary financial statements, schedules and information shall include:
Combining fund financial statements shall be presented as supplementary information for
all non-major governmental funds. Each non-major fund (included within the Special
Revenue Funds, Capital Projects Funds, Debt Service Funds, and Permanent Funds)
shall be presented as separate columns in the combining fund financial statements.
Similarly, combining financial statements shall also be presented for each of the other
fund types when there is more than one internal service fund, proprietary fund, and
fiduciary fund.
Combining financial statements shall be presented for the General Fund when separate
funds are maintained within the accounting system but the funds do not qualify as special
revenue funds, in accordance with generally accepted accounting principles, and are
merged with the General Fund for financial reporting purposes.
4. Other schedules may be required by the Town and/or the State of Rhode Island Director
of Revenue, Auditor General, and Department of Education or as required by the applicable
section of the general laws such as, Rhode Island General Law Section (RIGL) 45-10-6
(Contents of Audit Report).
The Tax Collector’s Annual Report shall be presented within Other Supplementary
Information to meet the requirements of RIGL 45-10-6 for additional information to the basic
financial statements. The Tax Collector’s Annual report should be presented in accordance
with the revised format requirements of the RI Department of Revenue - Division of
Municipal Finance (contact the Division for the most current template). The auditors
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engaged to audit the municipality’s financial statements shall also report on the Tax
Collector’s Annual Report, as supplementary information (“fairly presented in relation to the
municipality’s basic financial statements”).
Municipal Transparency Portal (MTP) - Enacted legislation amended Rhode Island
General Laws §45-12-22.2 and §44-35-10 to improve required reporting by creating the
Municipal Transparency Portal (MTP) which will represent a centralized location for
municipal financial information. Each municipality shall include their Annual Supplemental
Transparency Report, MTP2, within their annual audited financial statements. This requires
one schedule that includes (1) municipal reportable government services and (2) all school
services (consistent with RIDE UCOA requirements). The Annual Supplemental
Transparency Report, MTP2, included within the annual audit report shall also include
reconciliation to the amounts included in the fund level financial statements. These two
reports are due to their respective State Agencies by November 30.
The auditors engaged to audit the municipality’s financial statements shall also report on
the Annual Supplemental Transparency Report (including the reconciliations), MTP2, as
supplementary information (“fairly presented in relation to the municipality’s basic financial
statements”).
Auditors are not required to opine on the municipality’s determination of “reportable
government services” (RGS) as defined in Section 2.1 of the Municipal Transparency
Portal Implementation Guidance. The municipality will make the determination of
“reportable government services” for inclusion in the various reports required to be
submitted through the municipal transparency portal. However, auditors will be expected
to review the reconciliations as part of the Annual Supplemental Transparency Report,
MTP2, (required for inclusion in the audited financial statements as supplementary
information) to assess the inclusion of amounts reported which are not within the
municipality’s or school’s general fund.
The format of the required MTP schedules and related reconciliations, as well as, the
typical timeline for filing of the annual municipal data report and coordination with annual
financial statement audit, are detailed in the MTP Implementation Guidance (available on
the RI Division of Municipal Finance website: Municipal Transparency Portal | RI Division
of Municipal Finance).
The Independent Auditor’s Report shall include reference to the Annual Supplemental
Transparency Report, MTP2, as supplementary information. See the Municipal
Transparency Portal Implementation Guidance for additional information.
5. If applicable, an audit of major programs shall be performed in accordance with the criteria
outlined in OMB Guidance 2 CFR part 200 - Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (OMB Uniform Guidance) - Subpart
F – Audit Requirements.
The auditors shall audit major programs as required by OMB Guidance 2 CFR part 200
- Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards (OMB Uniform Guidance) - Subpart F – Audit Requirements and
express an opinion on compliance for each major program.
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This page summarizes the opportunity, including an overview and a preview of the attached documents.
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