Independent Auditing Services RFP

Background
The City of Buffalo is required under New York State General Municipal Law, the City of Buffalo Charter, and the Buffalo Fiscal Stability Authority Act to secure an annual audit by an independent auditor for all funds. This Request for Proposals (RFP) seeks qualified independent accounting firms licensed to practice in New York State for its annual audit for the years ending June 30, 2025, 2026, and 2027, with optional extensions for 2028 and 2029. The City intends to select a firm that can provide the requested services while ensuring the greatest benefit to taxpayers.

Work Details
The services required under this contract include:
- Conducting an independent audit of the City's Annual Comprehensive Financial Report (ACFR) in accordance with generally accepted accounting principles and Government Auditing Standards.
- Preparing reports including:
- Independent Auditors' Report on the ACFR.
- Independent Auditors' Report on Basic Financial Statements for governmental activities, business-type activities, and component units.
- Reports for the Buffalo Municipal Water Finance Authority and Buffalo Water Board.
- Management letter reporting any material weaknesses or significant deficiencies in internal control.
- Completing a Single Audit as defined by OMB Circular A-133.
- Providing a minimum of 8 hours of continuing professional education (CPE) training annually to City staff.
- Conducting interim fieldwork during July-August each year to assist in year-end closing preparations.

Period of Performance
The contract will commence upon award and will cover audits for fiscal years ending June 30, 2025, 2026, and 2027, with options for extensions through June 30, 2029.

Place of Performance
The audits will be performed at various locations within the City of Buffalo, New York.

Bidder Requirements
Bidders must be independent accounting firms licensed to practice in New York State with a minimum of $1 million professional liability insurance coverage. They must demonstrate no conflicts of interest with other work performed for the City and adhere to all submission instructions outlined in this RFP.