Finance Department Policy & Procedure Audit

III. SCOPE OF SERVICES The selected firm will be required to: 1. Conduct a thorough audit of the Finance Department’s existing policies and procedures, including but not limited to: o Budgeting processes o Accounts payable and receivable o Cash management o Payroll o Purchasing and procurement o Grants and fund accounting o Financial reporting and compliance with applicable regulations 2. Assess the adequacy and effectiveness of internal controls, risk management practices, and regulatory compliance. 3. Identify gaps, inefficiencies, and opportunities for improvement. 4. Compare current practices to industry standards and applicable government regulations. 5. Provide a comprehensive written report with findings, recommendations, and proposed policy revisions or enhancements. 6. Present findings to City leadership and provide technical assistance with implementing recommended improvements, as needed