Financial Auditing Services

Metro Water Recovery, a wastewater treatment authority serving most of Metropolitan Denver and parts of Northern Colorado, is seeking proposals from qualified Certified Public Accounting (CPA) firms to provide comprehensive financial audit services. The Request for Proposal (RFP) B-25-014 specifically requires an annual financial audit of the organization's financial records and financial statements, including an annual comprehensive financial report and separate financial statements for its Defined Benefit Retirement Plan. Proposing firms must conduct the audit in accordance with generally accepted auditing standards and deliver an unmodified opinion on financial statements by March 31 each year, with fieldwork typically occurring in October/November and final work beginning in mid-February. The initial contract will cover the year ending December 31, 2025, with potential renewal options for up to five total years. Key dates include a proposal due date of June 4, 2025, at 5:00 PM MT, oral presentations scheduled for July 15, 2025, and an estimated notice of award on July 22, 2025. The pricing proposal must include an annual lump sum fee for the initial contract year, renewal pricing, and an hourly rate schedule by position. Additional potential services may include Geothermal Energy Tax Credit Annual Report reviews, Single Audit requirements, Parity Debt Certification, and other ad hoc accounting support services.

While no specific set-aside designations or restrictions for disadvantaged enterprises are explicitly mentioned in the documents, the RFP does outline specific requirements for the selected firm. The contract will be structured as a professional services agreement, with the consulting firm required to maintain specific insurance coverages, including Worker's Compensation, Employer's Liability, Automobile Liability, General Liability, and Professional Liability, with Metro Water Recovery named as an additional insured. The organization's financial statements indicate a total net position of $1.138 billion in 2024, with annual sewer connection fees of $57.8 million and planned capital improvements totaling approximately $258 million. The financial audit contract's budget is not explicitly stated, but proposing firms should be prepared to provide comprehensive services that align with Metro Water Recovery's long-standing financial reporting excellence, as evidenced by its consecutive Governmental Finance Officers Association Certificates of Achievement from 1987 through 2023. The contract includes provisions for termination with 20 days' written notice and requires any disputes to be resolved through arbitration in Denver, Colorado, under the American Arbitration Association rules.