ANNUAL INDEPENDENT AUDIT SERVICES

The City of Monterey is requesting proposals from qualified firms of certified public accountants to audit its financial statements for three fiscal years beginning with the fiscal year ending June 30, 2025, with the option of extension for up to two additional fiscal years. These audits are to be performed in accordance with generally accepted auditing standards, the standards set forth for financial audits in the General Accounting Office's (GAO) Government Auditing Standards (2018), the provisions of the federal Single Audit Amendments Act of 1996 and U.S. Office of Management and Budget (OMB), Audits of States, Local Governments and Non-Profit Organizations . An initial three-year contract, with the option of extending for up to two additional one-year terms is contemplated. For each contract year, one fiscal year audit – beginning with the fiscal year ending June 30, 2025 – shall be completed by the auditor. The City of Monterey reserves the right to terminate this contract with not less than thirty (30) days prior written notice. There is no expressed or implied obligation for the City of Monterey to reimburse responding firms for any expenses incurred in preparing proposals in response to this request.