1. Audit services shall include examination of and reporting on the City's internal control structure, including recommendations on findings, if any. 2. Audit services may include the Single Audit of the financial statement and schedule of federal awards in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 3. Following the completion of the audit of the fiscal year's financial statements, the auditor shall issue: a. A report on the fair presentation of the financial statements in conformity with generally accepted accounting principles. b. A report on internal control over financial reporting and on compliance and other matters based on an audit of the financial statements performed in accordance with Government Auditing Standards. c. A report to those who have responsibility for oversight of the financial reporting process (City Council) as required by the American Institute of Certified Public Accountants’ Statements on Auditing Standards. d. A report on compliance for each major federal program, internal control over compliance and on the schedule of expenditures of federal awards as required by Uniform Guidance. 4. The Schedule of Expenditures of Federal Awards and related auditor's reports as well as the reports on compliance and internal controls are not to be included in the comprehensive annual financial report and are to be issued separately.
