Agmt19 Maze & Associates Accounting Corporation

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regulations and rules. Consultant shall use the general ledger information provided to prepare the necessary financial statement and footnotes for the separate statement. 2. Single Audit - Consultant shall prepare and perform a single audit on the expenditures of federal grants in accordance with U.S. Office of Management and Budget (OMB) Grant Guidance/Super Circular and render the appropriate audit reports on the Internal Control over Financial Reporting based upon the audit of the City's financial statements in accordance with Government Auditing Standards and the appropriate reports on compliance with Requirements Applicable to each Major Program and on Internal Control over Compliance Required by the Uniform Guidance. The single audit report will include appropriate schedule of expenditures of federal awards, footnotes, findings, and questioned costs, including reportable conditions and materials and weaknesses, and follow up on prior audit findings where required. 3. Management Report - Consultant shall prepare an annual letter to management addressing any observations concerning the internal control structure, as well as areas of potential economy and efficiency. Consultant shall include any matters from the prior fiscal year(s) letter to management that have not been addressed during the subsequent fiscal year to Consultant's satisfaction. In addition, this annual letter shall include a report to management concerning material weaknesses and/or reportable conditions, if any, as defined by the AICPA. Following completion of the audit of the financial statements, schedules, supplementary financial information and other information as outlined above, Consultant shall, at a minimum, issue the following reports: 1. Auditor's Opinion report on the fair presentation of the Port of Redwood City, an enterprise fund's basic financial statements in conformity with accounting principles generally accepted in the United States of America, and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. An electronic copy of all reports and fifteen (15) printed copies of the financial statement shall be delivered to the Port. 2. Single Audit report on the City's federal award programs. Such reports shall include reports and opinions required by the Single Audit Act, OMB Uniform Grant Guidance/Super Circular, Government Auditing Standards and any other applicable standards or requirements. At a minimum, such reports shall include: i. An "in -relation -to" report on the City's Schedule of Expenditures of Federal Awards. ii. Report on compliance and on internal control over financial reporting based on an audit of the basic financial statements performed in accordance with Government Auditing Standards. Page 13 of 21 REV: 5-23-19 PR AT7Y/AGR.2019.141/Maze —Auditing Services