08-11-2025 - Agenda Packet City Council - regular meeting

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I. INTRODUCTION A. General Information The City of Orono is requesting proposals from qualified certified public accounting firms to audit its financial statements for the three (3) fiscal years ending December 31, 2025, 2026 and 2027. The audits are to be performed in accordance with U.S. Generally Accepted Auditing Standards (GAAP). These are the standards set forth for financial audits in the General Accounting Office's (GAO) Government Auditing Standards, the provisions of the Federal Single Audit Act as amended, and U.S. Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-profit Organizations. In order to ensure a fair review and selection process, firms submitting proposals are specifically prohibited from contacting other staff and City Council members regarding the proposals. Any firm that does not abide by this prohibition will be presumed to have withdrawn its proposal by so doing, and will not be considered. There is no expressed or implied obligation for the City of Orono to reimburse responding firms for any expenses incurred in preparing proposals in response to this request. B. Instructions To be considered, qualified firms must submit electronic copies of their proposal to Maggie Jin, Finance Director, via e-mail mjin@oronomn.gov by 4:30 p.m. on October 1, 2025. The City of Orono reserves the right to reject any or all proposals submitted. Inquiries about the engagement or the request for proposal should be addressed to: Maggie Jin Finance Director Mj inkoronomn. gov 952-249-4611 The City of Orono reserves the right, where it may serve the City's best interest, to request additional information or clarification from proposers or to allow corrections of errors or omissions. At the discretion of the City, firms submitting proposals may be requested to make oral presentations as part of the evaluation process. Following a review of the proposals, a recommendation for award will be made by the Finance Director to the City Council. A final decision for award of the work will be made by majority vote of the City Council. The City of Orono reserves the right to retain all proposals submitted and to use any ideas in a proposal regardless of whether that proposal is selected. Submission of a proposal indicates acceptance by the proposing firm of the conditions contained in this request for proposal, unless clearly and specifically noted in the proposal submitted and confirmed in the written contract between the City of Orono and the firm selected. 4 1 P a g e 171