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<br />.... <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />Request For Proposal <br /> <br />DRAFT <br /> <br />Audit Enl!al!ement Letter <br /> <br />Colorado Water Conservation Board Construction Fund <br /> <br />Obiective of the Audit: To provide an external and independent evaluation of the Colorado Water <br />Conservation Board (CWCB) Water Project Funding Operations and Financial Statements as of the Fiscal <br />Year ending June 30, 2000, <br /> <br />Requirements of the Audit: <br /> <br />1, Certified Public Accounting firm with governmental auditing experience in the State of <br />Colorado, <br />2, Familiarity, preferably experience, with the Colorado Financial Reporting System (COFRS), <br />3. EDP Audit ability relative to COFRS, <br />4, Audit Plan development based on the Scope of the Audit summarized below, <br /> <br />Scope of the Audit: To evaluate the adequacy, integrity, and effectiveness of the internal controls relative <br />to the operations and management of the CWCB Construction Fund and the Severance Tax Trust Fund <br />Perpetual Base Account (STTFPBA) and their reported financial information as provided by the <br />Department of Natural Resources (DNR). <br /> <br />Performance of the Audit: <br /> <br />1, Prepare the Audit Plan, <br />2, Conduct a pre-audit meeting with CWCB personnel and discuss the Audit Plan, <br />3, Review the applicable policies, procedures, statutes, and regulations governing the <br />implementation, process, and management of the Construction Fund and the STTFPBA, <br />Include documentation relative to COFRS, accounting procedures, contract management and <br />CWCB lending policies. <br />4, Interview key personnel relative to the above areas of the Audit Plan, including Accounting <br />and CWCB personneL <br />5. Prepare Comparative Financial Statements for the Fiscal Years ending June 30, 1999, and <br />1998, based on the previous statements covering the Construction Fund and the STTFPBA, to <br />analyze the various cash sources, applications and reserve accounts for further evaluation, <br />6, Examine the Construction Fund and the STTFPBA relative to their loans, grants, and non- <br />reimbursable components. <br />a) Evaluate the DNR Accounting procedures to determine that they provide an efficient <br />methodology in accordance with General Accepted Accounting Principles covering the <br />general and specific accounts, <br />b) Analyze the account balances to determine that they are current and reliable and provide <br />a recommendation for any aged outstanding balances regarding current and future <br />resolutions. <br />c) Evaluate the system for establishing accounts for disbursement and repayments, <br />including fund numbers, appropriation codes, GBL's, encumbrance numbers, and object <br />codes, <br />d) Evaluate the reported principal and interest balances for accuracy, reliability and <br />integrity . <br /> <br />Page 1 <br />