Financial Audit Services

Kannapolis City Schools is soliciting proposals for professional financial audit services for the audit year spanning July 1, 2026, to June 30, 2027. The selected firm will be responsible for preparing basic financial statements, compliance reports, and required supplementary information in accordance with Government Auditing Standards (Yellow Book) and GASB pronouncements. Key performance milestones include interim fieldwork in May, year-end fieldwork from mid-August to September 15, and the delivery of final audited financial statements by October 31. The audit must comply with all North Carolina Local Government Commission (LGC) requirements, and the Finance Officer, Ashley Forrest, will oversee the review of drafts. Proposals must be submitted by January 8, 2027, and divided into two sections: a technical qualification section and a separate, sealed cost estimate envelope. Evaluation is based on the firm's experience with North Carolina Local Education Agencies, audit approach, staffing continuity, and GASB expertise, though cost is not the sole determining factor. Only the top three technical firms will have their cost proposals opened. Requirements for the proposing firm include providing a Statement of Policy and Procedures regarding independence, proof of adequate liability insurance, and a minimum of three references from North Carolina public school LEAs from the past five years. Payment terms allow for interim billings up to 75 percent of the total fee prior to LGC approval of the final statements.