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City of Louisville <br />Request for Proposals <br />Professional Auditing Services <br /> <br /> <br /> <br />4 of 10 <br /> <br />E. SPECIAL CONSIDERATIONS <br /> <br />The City of Louisville will send its comprehensive annual financial report (CAFR) to the Government Finance <br />Officers Association of the United States and Canada for review in their Certificate of Achievement for Excellence <br />in Financial Reporting program. It is anticipated that the auditor will not be required to provide special assistance <br />to the City of Louisville to meet the requirements of that program. The City Council would like the CAFR audited <br />by May 31 of each year. <br /> <br />F. WORKING PAPER RETENTION AND ACCESS TO WORKING PAPERS <br /> <br />All working papers and reports must be retained, at the auditor’s expense, according to the appropriate statutory <br />retention requirements, unless the firm is notified in writing by the City of Louisville of the need to extend the <br />retention period. The auditor will be required to make working papers available, upon request, to the following <br />parties or their designees: <br /> City of Louisville <br /> U.S. General Accounting Office (GAO) <br /> Parties designated by the federal or state governments or by the City of Louisville as part of an audit quality <br />review process <br /> <br />In addition, the firm shall respond to the reasonable inquiries of successor auditors and allow successor auditors <br />to review working papers relating to matters of continuing accounting significance. <br /> <br />III. DESCRIPTION OF THE GOVERNMENT <br /> <br />A. BACKGROUND <br /> <br />The City of Louisville is a Home Rule municipality with approximately 19,000 residents and 7.9 square miles <br />within the municipal boundaries. The City of Louisville's fiscal year begins on January 1 and ends on December <br />31. For more information on Louisville, including copies of past CAFR’s and budget documents, please visit the <br />City’s website at www.louisvilleco.gov. <br /> <br />B. BUDGETARY BASIS OF ACCOUNTING <br /> <br />The City of Louisville does not prepare its budgets on a basis consistent with generally accepted accounting <br />principles. <br /> <br />C. FUND STRUCTURE <br /> <br />The City of Louisville uses the following fund types in its financial reporting: <br /> <br />FUND TYPE QUANTITY OF <br />INDIVIDUAL FUNDS <br />QUANTITY OF LEGALLY <br />ADOPTED ANNUAL BUDGETS <br />General Fund 1 1 <br />Special Revenue Funds 8 8 <br />Capital Projects Funds 1 1 <br />Debt Service Fund 1 1 <br />Permanent Fund 1 1 <br />Enterprise Funds 3 3 <br />Internal Service Funds 3 3 <br /> <br /> <br />9