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QUESTIONS AND ANSWERS REGARDING  

ACTIVE REQUEST FOR BIDS

RFP 2021-08 EXTERNAL AUDIT SERVICES
Posted 08/21/21
Closes 12/10/21 @ 2 PM

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· What has the fee been for the last 3 audit periods?
ANSWER Progress billing for auditing services was $25,000 for 2020, $24,900 for 2019 and $24,500 for 2018.

· Were there any additional billings and if so, what were they for?
ANSWER  No additional billings for calls, emails or questions.

· Is the CRA included in the proposal? Is the individual CRA audit included in this proposal?
ANSWER  CRA for Lake Placid have yet to meet the specified $100,000 threshold specified in Section 163.387(8)(a), Florida Statutes.

· One part of the RFP indicates the Town will prepare the financial statements, but another part is requesting the auditor to prepare. Can you clarify who would be responsible for preparing the Annual Financial Comprehensive Report?
ANSWER: Sorry for the confusion. The auditor will be expected to prepare the Annual Financial Comprehensive Reports.

· Could you provide the most recent completed CAFR?
ANSWER  2020 Annual Financial Comprehensive Report is attached.

· Is a single audit typically not necessary?
ANSWER   The Town does not normally meet the requirement for a single audit. The last single audit was performed in 2017 and before that around 2005.

· Please confirm this proposal is for the first period under audit of 9/30/22?
ANSWER  This proposal for auditing services is for the fiscal year ending 9/30/22. Changing auditors this close to the end of a fiscal year is not a standard we practice.


FINANCIAL STATEMENTS
https://www.mylakeplacid.org/towndocs/RFP/2020 Town of Lake Placid, Florida.pdf

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