City of Truth or Consequences

Buyer is seeking qualified companies to perform fiscal year 2024/2025 financial audit services. The audit must comply with New Mexico State Audit Rule 2.2.2 NMAC requirements. The scope includes financial and compliance audit of statements and schedules, with special attention to GASB standards and state compliance requirements. Buyer will award a multi-year agreement with potential for three additional one-year renewals.

• 3/27/2025 - Issue Date
• 4/10/2025 - Acknowledgement of Receipt
• 4/17/2025 - Deadline for Questions
• 4/24/2025 - Proposal Due Date
• 5/14/2025 - Contract Award

• New Mexico state license/certification
• Must have been in business performing similar services for 5+ years
• Must have proof of liability insurance

• Conduct financial and compliance audit following NM State Audit Rule 2.2.2 NMAC
• Audit basic financial statements including government-wide financial statements
• Test compliance with significant state statutes and regulations
• Deliver organized audit report to State Auditor by December 15, 2025
• Submit required supplemental information (RSI) with auditor's opinion
• Apply limited procedures to Management Discussion and Analysis (MD&A)
• Meet GASB standards including implementations of GASB 84, 87, and 89
• Verify proper budget adjustment requests (BARs) compliance
• Test reverting or non-reverting fund compliance and accuracy
• Ensure IRS employee income tax compliance