Summary of Specifications:
Mapleton Public Schools (“MPS”) is pleased to issue this Request for Proposal (“RFP”) for professional auditing services. MPS is seeking proposals from professional and qualified firms to perform independent audit services in relation to both the required annual District audit as well as applicable requirements of the Single Audit Act. In addition to annual audit services, MPS may engage the firm to perform other agreed-upon procedures.
MPS, a PreK-12 public school district located in the Denver-metro area. Mapleton covers 25 square-miles and serves suburban, rural, and light industrial communities in the north Denver/Thornton area. The District serves more than 8,000 preschool through 12th grade students each day in 15 schools, including one online school.
MPS provides a full range of educational programs and services authorized by Colorado State Statutes. Included are basic kindergarten through twelfth-grade (K-12) education as well as preschool, special, vocational, gifted and talented, and bilingual education and numerous services and programs. MPS is fully accredited by the Colorado Department of Education Accreditation and Accountability Unit and is subject to periodic monitoring to ensure continued compliance with accreditation standards.
The accounting policies of MPS conform to accounting principles generally accepted in the United States of America that are applicable to local governmental units. Accounts of MPS are organized on the basis of funds, each of which is considered to be a separate accounting entity. Funds have been established and accounted for in accordance with the statewide, mandated Chart of Accounts. Current fund structure consists of seven governmental funds (a general fund, a self-insurance fund, a preschool fund, a debt service fund, a capital projects fund, and two special revenue funds. MPS also has two fiduciary funds, and one component unit. The accounting and financial treatment applied to a fund in the financial statements is determined by its measurement focus. Daily transactions throughout the year are primarily made on a cash/budgetary basis. The fiscal year for financial reporting purposes is July 1 to June 30. Annual audit results and financial statements are consolidated into a published Comprehensive Annual Financial Report. MPS has applied for and received both the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting and the Association of School Business Officials (ASBO) Certificate of Excellence in Financial Reporting for a number of consecutive years.
All financial transactions of MPS are accounted for using Infinite Visions in the 2016-17 fiscal year. Many individuals throughout MPS are responsible for creating financial transactions on the system; however, central staff are responsible for creating, maintaining and enforcing effective internal controls; reconciling general ledger balance sheet accounts; and budgeting, accounting and reporting for each of the MPS funds.
Both state and federal law require annual independent audits of each school district’s financial reports and accounting practices. In addition, the independent audit can and should serve as a means for the district to evaluate and improve its business management system. Independent audits serve as tools for administrators and board of education members to confirm the financial condition of MPS and to publicize this information to the public. At the same time, the auditor has an opportunity to advise the school district of changes in required accounting and reporting practices.
Included with this proposal is a copy of the 2017 Fiscal Year Adopted Budget (budget document), identified as Addendum A and the 2016 Comprehensive Annual Financial Report, identified as Addendum B.
