Neither party to this Contract shall be deemed to be the employee agent of the other party to the Contract. If the School District/Public Entity determines that the materials are substandard, Contractor will be responsible for payment of all costs incurred by the School District/Public Entity. All materials, including reports, computer programs and other outputs, created under this Contract are the exclusive property of the School District/Public Entity.
The Contractor shall not use or release these materials without the prior written consent of the School District/Public Entity. The rights and remedies of the school district/public entity under this Contract are not exclusive. The school district/public entity, in addition to any other right or remedy, shall be entitled to recover exemplary damages in an amount three (3) times the value of the compensation offered by the Contractor.
Payment, inspection and acceptance of products, materials and services ordered by the eligible school district are the sole obligation of the school district. Public Record: All proposals submitted in response to this request become the property of the school district/public entity.
PURPOSE
GENERAL INFORMATION
Mandatory Qualifications/Criteria
PROPOSAL FORMAT
- Title Page
- Audit Firm Profile and Qualifications
- Tab 4
The sections of the original offer, all copies and the electronic copy of the offer must be indexed as specified below to indicate the relevant parts and elements. The company must include a summary of their history as well as a description of the company, including size, number of professional employees by level, staff turnover within the last three years and a range of activities carried out by the company. The firm must provide a complete list of all Arizona School Districts for which they performed audit services for the 2014/15 fiscal year as well as the 2015/16 fiscal year (the district requests that the fiscal years not be combined).
Firm will provide resumes for the senior and technical staff who will be assigned to District to perform specified services. Firm will include an audit work plan, which sets out the approach the firm intends to take. Firm will include a plan for organizing and staffing the proposed services, with an estimate of time each staff member will spend on the audit.
The office should include a copy of any worksheets or questionnaires required to be completed by the district to assist the company in providing specific services. The company should include a list of anticipated or anticipated difficulties in performing specific services and how the challenges will be minimized or overcome.
Overall Evaluation and Firm’s Perceived Ability to Provide Services
Tab 5
AWARD BASIS
CALENDAR OF EVENTS
If a Request for Best and Final Offers is released, the District anticipates that the evaluation of offers will be conducted on April 11, 2017. The District expects the recommendation for award to be approved on either April 25, 2017 or May 9. 2017, Governing Board Meeting. After the Governing Board approves the award, the Auditor General will review the proposed contract and approve or disapprove it in accordance with Arizona Revised Statutes (A.R.S E) and A)(4), and Arizona Administrative Code R4-44-117.
Only after approval of the proposed contract by the Auditor General will the contract be signed by the school district administrator and the selected accounting firm.
PRICE CLAUSES
CONTRACT
EXAMINATION OF RECORDS
DELIVERY OF SERVICES
BILLING
INSURANCE
DOCUMENTS REFERENCED Documents Referenced
All inquiries must be made at least seven (7) days prior to the stated solicitation opening date. Any correspondence related to a solicitation must refer to the relevant solicitation number, page and section number.
ADDITIONAL INFORMATION
Providers should not contact or make inquiries with the school or department for which this application is being procured. The Deer Valley Unified School District consists of 29 elementary schools, three middle schools, five high schools, one alternative school, serving approximately 34,000 students.
REPORTING ENTITY
DISTRICT FUNDS
FEDERAL AND STATE ASSISTANCE
BASIS OF ACCOUNTING
Proceeds from general long-term debt and capital lease purchases are reported as other sources of financing. All of the District's internal service funds follow FASB Statements and Interpretations issued on or before November 30, 1989; Accounting Principles Board Opinions; and Accounting Research Bulletins, unless those statements conflict with GASB statements.
BUDGETING AND BUDGETARY CONTROL
DEPOSIT OF DISTRICT MONIES
In addition to keeping funds on deposit with the District Treasurer, the District maintains several bank accounts pursuant to A.R.S. Chase Miscellaneous Bills Chase Food Service Clearing Account Fund Chase Clearing Account 5 Auxiliary Operations Fund Accounts (1 per HS) Chase Payroll Direct Deposits Chase Clearing Direct Deposits.
PURCHASING
UNIFORM SYSTEM OF FINANCIAL RECORDS (USFR)
PRIOR-YEAR INFORMATION
In addition, the audit firm must complete a USFR Compliance Questionnaire, which will be used to help determine the District's compliance with the USFR. Obtain an understanding of the potential effects of laws and regulations on the financial statements. Consider factors that affect audit risk and gain an understanding of the district's internal control structure.
Ensure that the district has established policies and implemented procedures outlined in the USFR Compliance Questionnaire. In addition to the financial and compliance audit required by the Uniform Audit Act of 1984, Deer Valley Unified School District No. To determine whether counties are in compliance, the Auditor General developed the USFR Compliance Questionnaire, which consists of a series of questions to be completed by the county audit firm regarding the requirements set forth in the USFR and A.R.S.
USFR Compliance Questionnaire claims made by the accounting firm must be adequately supported in the audit documentation (e.g., by inspection, investigation, observation, or other services the District may require from the selected auditor during the term of this contract) . are invoiced at an hourly rate as specified in the Cost Proposal Form.
REPORT REVIEW, TIMING AND NUMBER OF COPIES
EXIT CONFERENCE REQUIREMENTS
AUDIT DOCUMENTATION
ASSISTANCE AVAILABLE TO AUDIT FIRMS
CAFR
DEER VALLEY UNIFIED SCHOOL DISTRICT NO. 97
Comprehensive Annual Financial Report
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
- Reporting Entity
97 (District) have been prepared in accordance with accounting principles generally accepted in the United States of America and applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing government accounting and financial reporting principles. This Statement addresses accounting and financial reporting issues related to fair value measurements and establishes a hierarchy of inputs to valuation techniques used to measure fair value.
Pursuant to existing bylaws, the duties and powers of the board of trustees include, but are not limited to, the acquisition, maintenance and disposition of school property; development and adoption of the school curriculum; and the establishment, organization and operation of schools. The committee also has broad financial responsibilities, including approving the annual budget and establishing a system of accounting and budgetary control. A constituent unit is a legally separate entity that must be included in the reporting entity in accordance with generally accepted accounting principles.
The district is a primary government because it is a special government that has a separately elected governing body, is legally separate, and is fiscally independent of other state or local governments. In addition, no constituent units are combined with the District for the purposes of presenting financial statements and the District is not included in any other government reporting entity. Accordingly, the district's financial statements include only the funds of the organizational entities for which the elected board is financially responsible.
The district's main activities include education, student transportation, construction and maintenance of district facilities, food service, bookstore, and sporting events.
- Measurement Focus, Basis of Accounting, and Financial Statement Presentation Government-Wide Financial Statements – The government-wide financial statements are
- Cash and Investments
- Investment Income
- Receivables and Payables
- Property Tax Calendar
- Inventory
- Prepaid Items
- Capital Assets
- Compensated Absences
- Pensions
For this purpose, the District considers revenue available if it is collected within 60 days of the end of the current fiscal period. As permitted by generally accepted accounting principles, the District applies the "early recognition" option for debt service payments. Unearned revenue occurs when resources are received by the District before it is legally entitled to them, such as when grant funds are received before all eligibility requirements imposed by the provider are met.
The General Fund includes the District's Maintenance and Operating Fund as well as certain activities budgeted in separate funds in accordance with A.R.S. Debt Service Fund – The Debt Service Fund is responsible for accumulating resources for, and paying, long-term debt principal, interest and related costs. Bond Building Fund – The Bond Building Fund is responsible for proceeds from district bond issues that are spent on the acquisition or lease of sites, construction or renovation of school buildings, the improvement of school grounds, or the purchase of pupil transport vehicles.
Fiduciary Funds – The Fiduciary Funds are Agency funds that account for funds held by the District on behalf of others. This fund type includes the Student Activities Fund, which takes into account funds raised by students to finance student clubs and organizations held by the district as agents, and funds that process employee deductions before transferring funds to the appropriate entities . The interest earned from investments purchased with pooled funds is allocated to each of the district funds based on their average balance.
As required by law, interest earnings from the Bond Building Fund are initially recorded in that fund, but then transferred to the Debt Service Fund. Statute authorizes the District to invest monies from the Bond Building and Debt Service Funds separately in the State Treasurer's investment pools; obligations issued and guaranteed by the United States or any of its agencies or instrumentalities; specified government and local government bonds and notes; and interest-bearing savings accounts or certificates of deposit. Activity between funds representing lending/loan arrangements outstanding at the end of the financial year is referred to as either “due to/from other funds” (ie the current portion of inter-fund loans) or “advances to/from other funds” ” (i.e. the non-current portion of inter-fund loans).
Prepaid items are recorded as expenses when consumed in the government-wide financial statements and as expenses when purchased in the fund's financial statements. Capital assets are defined by the District as assets whose initial, individual costs exceed . The obligation for vacation and sick leave is reported in the government-wide annual accounts.
- Interfund Activity
- Net Position Flow Assumption
- Estimates
FUND BALANCE CLASSIFICATIONS
The table below details the main components of the District's year-end fund balance classifications.
STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
CASH AND INVESTMENTS