Audit Services

The City of Albuquerque's Department of Finance and Administrative Services is issuing a Request for Proposals (RFP-2025-750-DFA-KO) for comprehensive audit services to be performed by qualified Certified Public Accounting firms. The procurement encompasses auditing and expressing opinions on the City's Annual Comprehensive Financial Report for the fiscal year ending June 30, 2026, with optional extensions for fiscal years 2027 and 2028. The audit scope includes basic financial statements, supplementary and required supplementary information, federal single audit compliance under 2 CFR Part 200, and special engagements including agreed-upon procedures for transportation, passenger facility charges, landfill financial assurance, and impact fees, as well as separate independent auditors' reports for the Airport Fund and OPEB Trust Fund and bond test procedures as needed. The City of Albuquerque serves approximately 560,000 residents with an annual operating budget of approximately $1.5 billion across 28 departments, and federal expenditures in FY 2025 approximated $77 million. All audit work must be performed in accordance with generally accepted auditing standards, Government Auditing Standards (2024 revision), OMB Uniform Guidance 2 CFR Part 200, and New Mexico State Auditor Rule 2.2.2 NMAC. The proposal submission deadline is March 12, 2026, at 4:00 p.m. Mountain Time through the City's eProcurement system (Bonfire), with all required reports and financial statements due by December 15, 2026. Proposals will be evaluated on a 1,000-point scale based on general approach (100 points), detailed task plans (200 points), experience and qualifications (300 points), project management and resources (200 points), past performance (100 points), and cost (100 points), with the City reserving the right to conduct oral presentations with selected finalists.

Only Certified Public Accounting firms included on the New Mexico State Auditor's 2026 Approved Firm List, expected to be published in March 2026, are eligible for award, which constitutes a significant restriction on eligible respondents. Responding firms must carry professional liability insurance of at least $1 million per occurrence and $1 million general aggregate, along with commercial general liability, automobile liability, and workers' compensation coverage. Cost proposals must include detailed breakdowns by task with estimated hours and rates for each fiscal year (FY 2026, FY 2027, and FY 2028), including separate cost summaries for basic audits, single audits, special engagements, and hourly rates for additional professional services. The RFP does not identify an incumbent vendor or specify a particular award value or budget range; however, the scope and complexity of auditing a $1.5 billion municipal budget with significant federal funding would typically command substantial professional fees. The City of Albuquerque Foundation will be presented as a component unit in the fiscal year 2026 financial statements, requiring integration with the City's centralized financial, grant, payroll, and vendor payment functions administered through the Department of Finance and Administrative Services.