PPLD FY2024 Report to the Board.pdf
PDF 265 KB Posted
- Attached to
- RFP: Independent Audit Services
- Solicitation number
- 2137793
- Issued by
- Dutchess County, New York
About this file
This is a Request for Proposals (RFP) for independent audit services issued by the Poughkeepsie Public Library District, a bi-municipal government agency in New York encompassing the City and Town of Poughkeepsie. The District seeks qualified audit firms to provide independent audit services for fiscal years 2026 through 2028, with proposals due September 1, 2026 and contract award anticipated by September 30, 2026. The scope of work includes annually audited financial statements with Management Discussion and Analysis, management letters with recommendations for improving internal accounting controls, and public presentations of audit findings to the Board of Trustees at April meetings. All work must comply with AICPA auditing standards and generally accepted accounting principles. Preliminary audit work begins in November or December, with fieldwork completed within two consecutive weeks and final audited financial statements due by March 31 following each year audited. Written questions must be submitted by August 18, 2026.
The Poughkeepsie Public Library District, with approximately 100 employees and a $12 million annual budget, requires firms to submit flat annual fees stated separately for each fiscal year, with costs including all labor, travel, communications, and miscellaneous expenses. The selected firm must meet Yellow Book standards, provide a current peer review report, and maintain appropriate liability insurance coverage. The District uses MUNIS software from Tyler Technologies for financial reporting and can accommodate a maximum of two auditors working simultaneously at its offices in Poughkeepsie, New York. Evaluation criteria include experience auditing municipalities and library districts, responsiveness in demonstrating understanding of scope, qualifications of assigned partners and staff, municipal client references, and fee structure. No incumbent has been identified, and no prior awards for substantially similar services exist within the past five years.
View the file
Other files
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
REPORT TO THE BOARD
April 23, 2025
The Board of Trustees
Poughkeepsie Public Library District, New York:
We have audited the financial statements of the governmental activities and each major fund, of the Poughkeepsie Public Library District, New York (the District) for the year ended
December 31, 2024 and have issued our report thereon dated April 23, 2025. Professional standards requires that we provide you with information about our responsibilities under auditing standards generally accepted in the United States of America as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our engagement letter. Professional standards also require that we communicate to you the following information related to our audit.
Significant Accounting Policies
Management is responsible for the selection and use of appropriate accounting policies.
Significant accounting policies used by the District are described in note 1 to the financial statements. No new accounting policies were adopted and the application of existing policies was not changed during the year ended December 31, 2024. We noted no transactions entered into by the District during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.
Accounting Estimates
Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected.
For the year ended December 31, 2024, we evaluated the key factors and assumptions used by management in determining that accounting estimates were reasonable in relation to the financial statements taken as a whole.
sschmid_EFPR17E
WILLIAMSVILLE GROUP
Poughkeepsie Public Library District, New York
Significant Disclosures
The financial statement disclosures are neutral, consistent and clear.
Difficulties Encountered in Performing the Audit
We encountered no difficulties in dealing with management in performing and completing our audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all misstatements identified during the audit other than those that are clearly trivial, and communicate them to the appropriate level of management. Management has corrected all such misstatements. In addition, none of the misstatements detected as a result of audit procedures and corrected by management were material, either individually or in the aggregate, to each opinion unit’s financial statements taken as a whole.
Disagreements with Management
For purposes of this report, professional standards define a disagreement with management as a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction that could be significant to the financial statements or the auditors’ report. We are pleased to report that no such disagreements arose during the course of the audit.
Management Representations
We have requested certain representations from management that are included in the management representation letter.
Management Consultations with Other Independent Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting matters similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the District’s financial statements or a determination of the type of auditors’ opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants.
Poughkeepsie Public Library District, New York
Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management prior to retention as the District’s auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention.
Other Matters
We applied certain limited procedures to management’s discussion and analysis, the schedule of revenue, expenditures and changes in fund balance - budget and actual - general fund, the schedule of District’s proportionate share of the net pension asset/liability, the schedule of
District’s pension contributions and the schedule of changes in the District’s total OPEB liability and related ratios, which are required supplementary information (RSI) that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquires, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI.
We were engaged to report on the other supplementary information, which accompanies the financial statements but is not RSI. With respect to this supplementary information, we made certain inquires of management and evaluated the form content, and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.
This information is intended solely for the use of the Board of Trustees and management of the District and is not intended to be and should not be used by anyone other than these specified parties.
Very truly yours, EFPR GROUP, CPAs, PLLC
File details come from the government source that posted it. Updated .