Auditing Services

Classified Details

Classified ID

2128

Description

REQUEST FOR PROPOSALS
MUNICIPAL AUDIT SERVICES
TOWN OF GRAND ISLE

INTRODUCTION
The Town of Grand Isle, Vermont is requesting proposals and qualifications to obtain
“MUNICIPAL AUDIT SERVICES” as described herein. Individuals responding to this
Request for Proposal (RFP) should have a knowledgeable background in municipal and
government accounting and have extensive experience in providing auditing services for
municipalities in Vermont.

Proposals are to be submitted by 4:00 p.m. on Friday, January 16, 2026 to:
• Selectboard@grandislevt.gov
• Or via USPS to:

Jeff Parizo, Chair
Town of Grand Isle Selectboard
P.O. Box 49
Grand Isle, VT 05458

• Or bring to the Town Office – 9 Hyde Road, Grand Isle, VT 05458
Please direct all questions regarding this proposal to Jeff Parizo, (802) 355-9398 or
j.parizo@grandislevt.gov

NATURE OF SERVICES REQUIRED
The Town of Grand Isle, Vermont, desires the auditor to express an opinion on the fair
presentation of its general purpose financial statements in conformity with Generally
Accepted Accounting Principals (GAAP) for government entities as defined by the
Government Accounting Standards Board (GASB).
It is expected that in determining the extent of test procedures, full consideration will be
given to the apparent effectiveness of the system on internal accounting controls. The
feasibility of recommendations for improvements in the accounting system and internal
controls will be discussed during the course of the engagement. In the required report on internal control, the auditor shall communicate any reportable conditions found during the audit. Reportable conditions that are also material weaknesses shall be identified as such in the report. Non-reportable conditions discovered by the auditors shall also be reported in a separate management letter, which shall include all instances of noncompliance.

The auditor will print, bind and submit (12) copies of the audit report to the Town.
Additional copies of the report shall be submitted to the federal cognizant audit agency and any agencies of the State of Vermont, as required. An electronic version of the audit report in PDF format shall also be provided.

At the conclusion of the audit, the auditor will meet with the Selectboard to discuss the
results of the audit and explain any findings that are included in the auditor’s management letter. All working papers and reports shall be retained for a minimum of three years, unless the firm is notified in writing by the Selectboard of the need to extend the retention period.

SCOPE OF WORK (SERVICES TO BE PROVIDED)
The Town of Grand Isle is seeking the following audit activities for FY 2027, FY 2028, FY2029, FY 2030 and FY 2031.
1. A comprehensive audit of its cash receipts, accounts payable, accounts receivable,
payroll, taxes, state funds, purchase orders, fixed assets, utility billing and credit
card statements.
2. A comprehensive review of all policies, procedures and internal controls.
3. A reconciliation of Town of Grand Isle accounts.
4. Review of the Trial Balance of all funds for inconsistencies and discuss/resolve with
the Town Treasurer and Selectboard.
5. Perform comprehensive check of payments to vendors and receipts to make sure
that the Town is following proper procedure for approval and posting.
6. Review journal entries and sign off on said entries.
7. Complete and report any findings to the Selectboard.
8. Provide advice on internal controls and Town of Grand Isle financial practices.
9. Work with the awardee of the separate, state-required annual audit to ensure this
audit is successfully produced in a timely manner.

DESCRIPTION OF THE GOVERNMENT
The Town of Grand Isle has a population of approximately 2,000 people. The Town provides the following services to its citizens: streets, public safety provided via a volunteer fire department and volunteer rescue squad and a contract with the Grand Isle County Sheriff’s Department, recreation, public improvements, planning and zoning, and general administrative services that include a town clerk, a town treasurer and listers. The Town uses the following fund types in its financial reporting: General Fund and Reserve Funds. The 2027 Town General Budget is approximately $2,000,000.

PROPOSAL REQUIREMENTS
Interested firms shall submit proposals separated into two sections: the technical proposal and the cost proposal.

The technical proposal shall provide the necessary information in the following sequence:
1. Background of the firm: The proposer should state the size of the firm, the size of the
firm’s governmental auditing staff, and the number and nature of the professional
staff to be assigned to this engagement.
2. Partner, supervisory and staff qualifications and experience: The proposer should
identify the principal supervisory and management staff assigned to the
engagement and disclose each person’s government auditing experience.
3. Which services the firm is willing and able to provide: The proposer should identify
which items under the “Scope of Work (Services to be Provided)” they are seeking to
provide.
4. Similar engagements with other government entities: If the firm had similar
engagements in the past, list up to 3 with a description that would help the Town
evaluate the relevance of the experience.
5. Specific audit approach: The proposal should set forth a plan of implementation,
including an explanation of the audit methodology for this engagement. The work
plan should include a description of tasks, estimates of work effort, time budgets,
and a detailed breakdown of responsibilities of all audit personnel.

The cost proposal shall include:
1. Total all-inclusive maximum fee for the engagement for the 5 (five) fiscal years
ending June 30, 2027, June 30, 2028, June 30, 2029, June 30 2030 and June 30, 2031
as well as for any prior fiscal years for which the Town has the option of extending
and continuing in this contract.
2. Breakdown of costs by year by partner (principal), supervisory and staff level.
3. Out-of-pocket expenses included in the total all-inclusive maximum price and
reimbursement rates.
4. Progress payments will be made on the basis of hours of work completed during the
course of the engagement. Interim billing shall cover a period of not less than a
calendar month and should provide sufficient detail for verifying that the work was
completed.
5. Unit pricing for non-audit services that are in compliance with independence
standards should those be required.

INSURANCE
The Firm awarded the contract must assume all risks connected with this work. The Firm shall comply with all State Laws and Regulations concerning Worker’s Compensation and shall maintain such insurance as will protect the Firm against all claims for damages for personal injury, including death, and property damage which may arise during or as a result of the work done under this Contract, either by the Firm awarded the contract or by any subcontractor or anyone directly or indirectly employed by either of them.

The Firm awarded the contract shall not commence work under this Contract until all
insurance required by this section has been obtained and such insurance has been
approved by the Selectboard of the Town of Grand Isle. Insurance coverage shall remain in effect until all work under the Contract has been accepted and at all times thereafter when the Firm may be updating defective work. The Firm awarded the contract shall furnish proof of insurance by providing a Certificate of insurance from the authorized agent. The Town of Grand Isle shall be named as the Certificate Holder. The Firm awarded the contract shall give the Town of Grand Isle 30 days written notice of any material change in, cancellation of, or expiration of the policies. Any insurance company providing coverage must be authorized to do business in the State of Vermont.

The following insurance is required:
Professional Liability – minimum of $1,000,000 errors and omissions per
occurrence.
General liability – minimum of $1,000,000 per occurrence based upon the specific
work and values involved. The Town of Grand Isle shall be named as additional insured with respect to general liability.

EVALUATION CRITERIA
The final selection of an audit firm will be based on two criteria: technical qualifications
and cost of service. The technical qualifications will compare each proposer’s expertise
and experience in providing quality audit services to government entities and the quality of the firm’s professional personnel who would conduct the audit. The approach of the audit and the plan for implementation will also be scrutinized. Cost will not be the primary factor in the selection of the audit firm. There is no expressed or implied obligation on the part of the Town of Grand Isle to reimburse responding firms for any expenses incurred in preparing or presenting proposals in response to this request. The Town of Grand Isle reserves the right to retain all of the proposals and to use any ideas in a proposal regardless of whether the proposal is selected. Submission of a proposal indicates acceptance by the firm of the conditions contained in the RFP, unless clearly stated to the contrary and specifically noted in the proposal submitted and confirmed in the contract between the municipality and the selected Firm. The Town of Grand Isle reserves the right to accept or reject any proposal, at their sole discretion, and to award a contract based solely on their determination of the best proposal considering all of the circumstances.

Title

Auditing Services

Salary Range

$0 to $0

Application Deadline

01/16/2026

Location

Grand Isle, VT

Application URL

https://grandislevt.org/request-for-proposals-auditing-services/ 

Contact Information

Name

San Angelo, Carrie

Phone Number

(802) 372-8830

Email

10ACGirl1983@gmail.com 

Best Method of Contact

EMAIL