Addendum 1 Audit Services RFP2026-01.pdf
PDF 215 KB Posted
- Attached to
- Request for Proposal Audit Services RFP #2026-01
- Solicitation number
- RFP-115727
- Issued by
- Clarke County, Virginia
About this file
This is Addendum 1 to Request for Proposal RFP#2026-01 issued by the Town of Berryville, Virginia, containing responses to six inquiries regarding audit services for the fiscal year ending June 30, 2026. The addendum clarifies that the current auditor prepares year-end accrual entries for the Town, while the Town maintains its own capital assets in an Excel file that is updated throughout the year. The Town prefers a combination of onsite and remote audit work and anticipates requiring a single audit for FY26. The document provides a comprehensive list of 14 adjusting journal entries (JE#1 through JE#14) prepared by the current auditor, covering significant accounting areas including debt activity, deferred revenues related to ARPA funds, GASB 75 Net OPEB liabilities, GASB 68 pension liabilities, accrued interest payable, prepaid taxes, uncollected taxes, unrecorded accounts payable, accrued payroll, unbilled water revenue, and capital asset depreciation across general, water, and sewer funds.
The prior fiscal year 2025 audit fee was $18,250.00. The addendum was issued on March 17, 2026, in response to a single inquiry containing six substantive questions regarding the scope of auditor responsibilities and preferences for audit delivery and methodology. The nature and complexity of adjusting entries indicate the Town requires comprehensive audit services including preparation of significant accruals, liability adjustments, and depreciation calculations across multiple fund types, suggesting an organization with material federal grant activity and defined benefit pension and OPEB obligations.
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| File | Type | Posted |
|---|---|---|
| RFP-2026-01 Request for Proposal- Audit Services.pdf |
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Text version
TOWN OF BERRYVILLE, VIRGINIA
REQUEST FOR PROPOSAL
AUDIT SERVICES
RFP#202601
Addendum 1 (Answers to Inquiries) March 17, 2026
The Town of Berryville received one inquiry (containing six questions) regarding RFP#202601 which are addressed below.
Inquiry 1:
Question:
1. Is your current auditor preparing year end accrual entries for the Town? I ask because some of the “other requirements” in section A6(RFP pg. 6) imply the current auditor is making adjustments.
Answer:
Yes.
Question:
2. Relatedly, does the auditor maintain capital assets for the Town?
Answer:
The Town keeps an excel file and updates it throughout the year and then provides that information as part of the “prepare by client” list.
Question:
3. Please provide a list of adjustments made by the auditor for the Town.
Answer:
Adjusting Journal Entries JE#1 To propose entry for debt activity 10021232000000 Lease Rev Bond IDA/USDA 50221650000000 VRA GO Rv Bonds Series 2010 10021230000000 Reserve for Loans 50240950009118 CRA Principal
Adjusting Journal Entries JE#2 To propose entry to deferred revenues for ARPA 10024940000000 Deferred Revenue
10032201060000 ARPA
Adjusting Journal Entries JE#3 To propose entry for GASB 75 activity Net OPEB for GLI 10016100000000 Deferred Outflows – GLI OPEB 10021400000000 Net OPEB Liability 50118550000000 Deferred Outflows – GLI OPEB 50126500000000 Net OPEB Liability 50218550000000 Deferred Outflows – GLI OPEB 50226500000000 Net OPEB Liability 10026100000000 Deferred Inflows – GLI OPEB 10029565000000 Reserve – Net OPEB liability 50127500000000 Deferred Inflows – GLI OPEB 50140122202400 Life Insurance 50227500000000 Deferred Inflows – GLI OPEB 50240122202400 Life Insurance
Adjusting Journal Entries JE#4 To propose entry for GASB 68 Net position liability 10016000000000 Deferred Outflow – Pension 10021300000000 Net Pension Liability 10026000000000 Deferred Inflow – Pension 50118500000000 Deferred Outflow – Pension 50126000000000 Net Position Liability 50127000000000 Deferred Inflow – Pension 50218500000000 Deferred Outflow – Pension 50226000000000 Net Position Liability 50227000000000 Deferred Inflow – Pension 10029560000000 Reserve – Net Position 50140122202210 Retirement 50240122202210 Retirement
Adjusting Journal Entries JE#5 To propose entry for accrued interest payable 10021241000000 Accrued Interest 10021240000000 Reserve for Accrued Interest
Adjusting Journal Entries JE#6 To propose entry for prepaid taxes 10012090000000 Prepaid R/E Taxes 10031101010000 Current R/E taxes
Adjusting Journal Entries JE#7 To propose entry for tax rec and deferred taxes 10012100000000 Uncollected current taxes 10012120000000 Uncollected delinquent taxes 10029500000000 Reserve U/C Current taxes 10012110000000 Uncollected 1 yr d taxes 10029520000000 Reserve U/C Del taxes 10031101010000 Current R/E taxes
Adjusting Journal Entries JE#8 To propose entry to record unrecorded AP 10040942009004 Mosby Blvd Sidewalk 50140122223310 Repair and maintenance 50140122243330 Line Repair & maintenance 50140122246007 Material & supplies 50140942008361 Water Dist System Upgrades 50240122221147 Compensation 50240122222850 Lab Testing 10029400000000 Accounts Payable 50129390000000 Accounts Payable 50229400000000 Accounts Payable
Adjusting Journal Entries JE#9 To propose entry to adjust accrued payroll 10021080000000 Payroll Payable 50121080000000 Accrued Payroll payable 50221080000000 Accrued Payroll payable 10040112001114 Salaries/Wages/TNCLK 10040124301113 Compensation 10040311001139 Compensation 10040412001183 Compensation 50140122221147 Compensation 50140122241183 Compensation 50240122221147 Compensation 50240122241183 Compensation
Adjusting Journal Entries JE#10 To Propose adjustment for water accrued unbilled to agree with amount per audit 50131601100000 Treatment Fees 50231601100000 Treatment Fees 50112410000000 Unbilled Revenue Receivable 50212410000000 Unbilled Revenue Receivable
Adjusting Journal Entries JE#11 To propose adjustment to record GF capital asset activity and depreciation 10017100000000 Fixed Assets 10018000000000 Accumulated Depreciation 10028200000000 Invested in Fixed assets 10017100000000 Fixed Assets 10018000000000 Accumulated Depreciation
Adjusting Journal Entries JE#12 To propose adjustment to WF depreciation and fixed asset activity 10012330000000 Due To/From Other funds 50117100000000 Fixed Assets 50117110000000 Construction in Progress 50140942008210 Depreciation Expense 10040930003000 ARPA GF Expenses 50117110000000 Construction in Progress 50117120000000 Due To/From Other Funds 50118000000000 Accumulated Depreciation 50140122243330 Line Repair & Maintenance 50140122243330 Line Repair & Maintenance 50140942008105 Pick Up (1/2) 50140942008118 Backwash Lagoon Upgrade WTP 50140942008144 Upgrades WTP 50140942008144 Upgrades 50140942008345 PW One Ton Dump 50140942009361 Water Dist System Upgrades 50140942008361 Water Dist System Upgrades
Adjusting Journal Entries JE#13 To propose adjustment to record SF asset activity and depreciation 50217100000000 Fixed Assets 50240942008210 Depreciation 50217110000000 Construction 50218000000000 Accumulated Depreciation 50240122223310 Repair & Maintenance 50240942008105 Pick Up 50240942008345 PW One Ton Dump
Adjusting Journal Entries JE#14 To propose adjustment for CIP restatement 50117110000000 Construction in progress
50217110000000 Construction 50129900000000 Fund Balance 50229900000000 Fund Balance
Question:
4. What was the FY25 audit fee?
Answer:
$18,250.00
Question:
5. Does the Town prefer the audit to be performed onsite, remotely, or a combination?
Answer:
Combination
Question:
6. Do you anticipate having a single audit for FY26?
Answer:
Yes
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