RFP #2025-04-001 annual financial audit services per state audit nmac 2024

The City of Truth or Consequences, New Mexico, has issued Request for Proposals (RFP) #2025-04-001 for Annual Financial Audit Services, seeking an Independent Public Accountant (IPA) to conduct comprehensive financial and compliance audits for fiscal years 2024-2028. The procurement requires a qualified audit firm to perform a multi-year contract with an initial one-year term and potential for three additional one-year renewals. Key deliverables include government-wide financial statements, fund financial statements, budgetary comparison statements, and required supplemental information, all adhering to the New Mexico State Audit Rule 2.2.2 NMAC. The evaluation process will utilize a best-value selection method, distributing 1,000 total points across several criteria: IPA capabilities (300 points), work requirements and audit approach (100 points), technical experience (200 points), terminations (75 points), litigation and claims (75 points), and fees (250 points). Critical dates include a March 27, 2025 issue date, April 10, 2025 deadline for questions, April 17, 2025 acknowledgement of receipt deadline, and a proposal submission deadline of April 24, 2025 at 2:00 PM MDT, with an anticipated contract award on or about May 14, 2025.

The RFP mandates specific qualifications for proposing firms, including a valid New Mexico state license, a minimum of five years of prior business experience, and proof of liability insurance. While no specific set-aside designations for disadvantaged enterprises are explicitly mentioned, the procurement appears open to qualified accounting firms meeting the outlined criteria. No incumbent vendor information is provided in the documentation. The RFP indicates that state gross receipts and local option taxes will be separately reimbursed by the city, suggesting some flexibility in cost structure. Although no specific budget range is detailed, the comprehensive evaluation process focusing on both qualitative factors and proposed fees indicates the city's intent to select the most advantageous proposal. The selected audit firm will be required to conduct an in-person entrance conference with the city and submit the audit electronically through OSA Connect guidelines, emphasizing a collaborative and transparent approach to the financial audit process.