13367-20240508124527 CLW AUDIT.pdf

COLUMBUS LIGHT & WATER

REQUEST FOR QUALIFICATIONS FOR

AUDIT SERVICES

Issued: April 26, 2024

By: Columbus Light & Water 420 4th Avenue South

PO Box 949 Columbus, MS 39703 www.columbus-lw.com 662-328-7192 x124 Angela Verdell, Ph.D., GM averdell@columbus-lw.com

Responses must be delivered to Angela Verdell, General Manager at the CLW's main office at the address shown above by 10:00 a.m. (Central Time) on May 21, 2024. Any party submitting a response is solely responsible for the expense of preparing its response and for ensuring the timely delivery of its response.

This Request for Qualifications ("RFQ") is requesting responses and statements of qualifications from qualified individuals or firms for audit services for the projects described in this RFQ. Each respondent should submit one original response, along with three (3) copies and one electronic version of its response. Responses should be submitted in a sealed, opaque envelope, labeled on the outside “RFQ for Audit Services”.

Columbus Light and Water is committed to providing opportunities for minority and women-owned businesses (MWBEs). The award of this contract will be contingent upon the Bidder satisfying the CLW goal of 25% minority business participation. Qualified MWBEs will be considered in Bidder’s Proposal with evidence provided. All Bidders are encouraged to respond.

Any questions should be directed to Ann Robertson at 662-328-7192 x118 or via email at arobertson@columbus-lw.com.

COLUMBUS LIGHT AND WATER DEPARTMENT

BY:

Angela Verdell General Manager

PUBLISH:

April 26, 2024 May 3, 2024 http://www.columbuscityschools.org/ http://www.columbuscityschools.org/ mailto:arobertson@columbus-lw.com.

COLUMBUS LIGHT AND WATER

REQUEST FOR PROPOSAL FOR

AUDIT SERVICES

Issued: April 26, 2023

Responses must be delivered to Angela Verdell, General Manager at the Main Office located at 420 4th Avenue South, Columbus, Mississippi 39703 by May 21, 2024, at 10:00 am.

Scope of Work:

Your proposal is expected to cover the following services:

1. Annual examination beginning with the first month ending upon contract issuance, of internally prepared financial statements for reasonableness.

2. Preparation of complete Financial Audit Report at year-end.

3. Audit of Tax filings to include, but not limited to, Payroll and Sales Tax.

4. Audit the current overall internal control structure and provide recommendations for eliminating any deficiencies noted.

5. Audit of all bank statements and monthly reconciliations.

6. Recommendations and preparation of all adjusting journal entries with details for our accounting system.

7. Availability to attend special meetings of the Board of Commissioners when requested.

8. Audit/review of all federal funding and perform a Single Audit if CLW expends more than $750,000 in federal funds awarded.

9. Audit of financial assets and depreciation requirements. Preparation of depreciation schedules of assets, additions, deletions, and necessary journal entries.

10. Audit of annual federal and state tax returns.

11. Preparation of a detailed Management Letter for General Manager to execute.

12. Audit of Utility System including, but not limited to, Cash collections, Billing, Deposits, Fee, and Terminations.

13. Audit of Accounts Payable

14. Ensure audit documentation and reports are provided within the specified timeframe.

15. Preparation of the Management’s Discussion and Analysis (MD&A) Disclosure Letter.

16. Preparation of GASB68 and submitted to CLW no later than July 1st for the Electric

Division and October 1st for the Water and Sewer Division.

Key Personnel:

• For control purposes, all requests for access to personnel, site visits, prior financial statements (including tax returns) and/or additional information shall be coordinated through our Controller who can be reached at:

Ann Robertson, Controller Telephone: (662) 497-7118 or at arobertson@columbus-lw.com mailto:arobertson@columbus-lw.com

Work Papers:

• The CPA must retain work papers for at least five (5) years from the release of the Financial Audit Report unless an extension is requested by Tennessee Valley Authority or any authorized agencies.

• The CPA firm must provide work papers to the controller and/or any authorized representatives of CLW.

Time Consideration and Requirements:

Electric

A. Date for final audit report submission to CLW must be presented to the Board of Commissioners at its September Board Meeting for the Electric Division and presented at its October meeting for the Water and Sewer Division.

B. All request for additional information needed to complete the audit shall be made in a timely manner.

Water

A. Date for final audit report submission to CLW within six (6) months after the fiscal year ending September 30th.

Contract Price:

• The proposal must provide a final contract price for the requested services, not an hourly rate. Ensure that the proposed fee is sufficient to cover the work that you expect to perform if your firm is selected for these services.

Right To Reject:

• Columbus Light and Water Department reserves the right to reject any and all proposals submitted, and to request additional information from all firms.