Project Information

Bid Title

Professional Auditing Services

Issuing Agency

Paramount city

Location

California

Published Date

Apr 17, 2026

Closing Date

May 8, 2026

Government Level

State & Local

Status

Closed

Original Source

Join to Access Full Details

Bid Inquiries

Join to Access Full Details

Bid Documents

Join to Access Full Details

Project Description

Professional Auditing Services +

The City of Paramount (“Paramount” or “City”) requests proposals from qualified certified public accounting firms to perform professional auditing services of the City’s financial statements for the three (3) fiscal years ending June 30, 2026, June 30, 2027, and June 30, 2028, with the option of auditing the City’s financial statements for each of the two (2) subsequent fiscal years.

Proposal Release Date: April 2, 2026

Deadline for Submit Proposals: May 8, 2026, 5:00 P.M. (PST)

Request for Proposal for Professional Auditing Services 2026

Attachment Preview

CITY OF PARAMOUNT

(562) 220-2000

16400 Colorado Avenue, Paramount, California 90723

www.paramountcity.com

Request for Proposals

The City of Paramount is seeking proposals for

PROFESSIONAL AUDITING SERVICES

Proposal Release Date: April 2, 2026

Deadline for Submit Proposals: May 8, 2026, 5:00 P.M. (PST)

CITY OF PARAMOUNT

FINANCE DEPARTMENT

16400 Colorado Avenue, Paramount, California 90723 www.paramountcity.gov

I. INTRODUCTION

A. General

The City of Paramount (“Paramount” or “City”) requests proposals from qualified certified public

accounting firms to perform professional auditing services of the City’s financial statements for the three

(3) fiscal years ending June 30, 2026, June 30, 2027, and June 30, 2028, with the option of auditing the City’s

financial statements for each of the two (2) subsequent fiscal years. The contract term with the City’s

current audit firm, The Pun Group LLP, expires soon. The City has been satisfied with the services; however,

to comply with the requirements of Government Code 12410.6, the City is seeking formal audit proposals

at this time, ensuring competitive pricing and services. The City’s goal is to provide its elected officials and

the public with a comprehensive financial report that gives complete, accurate, and understandable

information about the City’s financial condition. There is no expressed or implied obligation for the City to

reimburse responding firms for any expenses incurred in preparing proposals in response to this request.

Materials submitted by respondents are subject to public inspection under the California Public Records

Act (Government Code Sec. 6250 et seq.), unless exempt.

B. Description of the Government

The City of Paramount was incorporated on January 30, 1957, as a general-law city operating under the

Council-Manager form of government. Part of the Gateway Cities of Southeast Los Angeles County,

Paramount is 4.7 square miles with approximately 54,000 residents who call Paramount home. The City

Manager is appointed by the City Council to serve as the organization’s Chief Executive Officer and leads a

staff of 97 full-time employees and approximately 200 part-time employees while administering the 2025-

26 Fiscal Year operating budget of approximately $107 million for all combined funds. The City’s executive

management team includes an Assistant City Manager, a City Clerk, and five (5) Department Directors all

of whom manage seven departments consisting of Administrative Services, City Manager’s Office,

Community Services, Finance, Planning & Building, Public Safety, and Public Works. The City Attorney is a

contract position. The City is considered a contract city that contracts the Los Angeles County Sheriff’s

Department for its law enforcement services to, the Los Angeles County Fire Department for its fire

services, the Southeast Area Animal Control Authority for its animal control services, Athens Services for

its waste disposal services, and HdL Companies for this business license and tax services.

The Finance Department is led by Finance Director Lana Dich who oversees ten (10) full-time staff

members comprising one (1) Financial Services Manager, one (1) Accounting Manager, two (2) Senior

Accountants, one (1) Accounting Specialist (vacant), one (1) Customer Service Supervisor, two (2) Finance

Technicians, one (1) Administrative Assistant, and one (1) Payroll Technician, including six (6) part-time

staff members that consist of two (2) Finance Assistants, and four (4) Finance Aides. The City’s Finance

Department, along with its Water Billing Division, is responsible for accounting, payroll, cash management,

general ledger, budget management, investment management, grants management, capital projects, data

processing, business license administration, and water billing.

Page 2 of 15

CITY OF PARAMOUNT

FINANCE DEPARTMENT

16400 Colorado Avenue, Paramount, California 90723 www.paramountcity.gov

The number and type of funds are subject to change based on the needs of the City. Any such change shall

not result in the change of the audit fee. The City of Paramount uses fund accounting to ensure compliance

with finance-related legal requirements. The City’s funds are divided into three (3) categories: governmental

funds, proprietary funds, and fiduciary funds.

Governmental Funds: The City maintains twenty-seven (27) individual governmental funds

presented separately in the governmental fund balance sheet and in the governmental fund

statement of revenues, expenditures, and changes in fund balances for the General fund, ARPA

fund and Other Grants fund, which are considered to be major funds.

Proprietary Funds: The City maintains two (2) different types of proprietary funds, which are

enterprise and internal service funds. The City uses its enterprise funds to account for its water

utility and the internal service funds to account for its equipment replacement and maintenance.

Fiduciary Funds: The City maintains three (3) fiduciary funds, which are the Redevelopment

Obligation Retirement Private-Purpose Trust Fund and the Community Redevelopment Property

Trust Fund, which are combined and reported as the Successor Agency for the Paramount

Redevelopment Agency, and the City Agency Fund (Custodial Fund).

Although the City is undergoing an award of contract for a new Enterprise Resources Planning (ERP) system

expected to be awarded sometime in April or May 2026, the City’s current accounting functions are

computerized using the Tyler Technologies Eden software. The applications operating on this system are

General Ledger, Accounts Payable, Accounts Receivable, Payroll, Bank Reconciliation, Cash Receipts,

Water Utilities, and Human Resources. The City participates in the California Public Employees Retirement

System (CalPERS), an agent multiple-employer plan. Actuarial services for the plan are provided by

CalPERS. The City’s Annual Comprehensive Financial Reports (ACFR) and City Budgets are posted on City’s

website at https://www.paramountcity.gov/government/departments/finance/.

II. SCOPE OF SERVICES REQUIRED

A. Auditing Standards to be Followed

The auditors shall be responsible for expressing an opinion on the City’s financial statements, including the

governmental activities, business-type activities, each major fund, and the aggregate remaining fund

information. The audit shall be conducted in accordance with generally accepted auditing standards (GAAS)

and the standards applicable to financial audits contained in the Government Accountability Office’s (GAO)

Government Auditing Standards (Yellow Book). If a Single Audit is required, the auditors shall express an

opinion on compliance in accordance with the Federal Single Audit Act and the U.S. Office of Management

and Budget (OMB) Circular A-133, Audits of State and Local Governments and Non-Profit Organizations.

The City’s financial statements shall be prepared in accordance with generally accepted accounting

principles (GAAP), including all applicable pronouncements issued by the Governmental Accounting

Standards Board (GASB).

Page 3 of 15

CITY OF PARAMOUNT

FINANCE DEPARTMENT

16400 Colorado Avenue, Paramount, California 90723 www.paramountcity.gov

B. Scope of Services

The selected independent auditing firm will be required to perform the following tasks:

1. City’s Financial Audit - The audit firm will perform the City’s Financial Audits of the Basic Financial

Statements.

a. Management’s Discussion and Analysis (MD&A) - The audit firm will also apply limited

audit procedures to Management’s Discussion and Analysis (MD&A) and the required

supplementary information pertaining to the General Fund and each major fund of the City.

b. The City will submit each ACFR to the Government Finance Officers Association (GFOA)

for review of the GFOA Certificate of Achievement for Excellence in Financial Reporting

program. The audit firm shall assist and review the Government Finance Officers

Association (GFOA) comments, responses, and implementation.

2. Single Audit - The audit firm will perform a Single Audit on the expenditures of federal grants in

accordance with OMB Circular A-133 and render the appropriate audit reports on 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, Internal Control over Compliance and on the Schedule of

Expenditures of Federal Awards in Accordance with OMB Circular A-133.

3. Agreed-Upon Procedures Applied to Appropriations Limit (GANN) - The audit firm shall perform

agreed-upon review procedures pertaining to the City’s GANN Limit (Appropriations Limit) and

render a letter annually to the City regarding compliance.

4. State Controller’s Report (State Controller’s Cities Financial Transactions Report) - The audit firm

shall perform audit procedures of the annual State Controller’s Report

5. Annual Street Report - The audit firm shall perform audit procedures of the Annual Street Report for

the State Controller’s Office.

C. Reports to be Included

In compliance with the above-mentioned scope of services, the following reports, responses, and follow up

comments shall be prepared, when applicable:

1. Annual Comprehensive Financial Report (ACFR): The Annual Comprehensive Financial Report

(ACFR) and the preparation of the financial statements, schedules, and accompanying notes are to

be prepared by the audit firm for inclusion in the ACFR.

2. Single Audit Report: A Single Audit Report.

3. Agreed-Upon Procedures Applied to Appropriations Limit (GANN): A report on the review of the

City’s Agreed-Upon Procedures applied to Appropriations Limit (GANN).

Page 4 of 15

CITY OF PARAMOUNT

FINANCE DEPARTMENT

16400 Colorado Avenue, Paramount, California 90723 www.paramountcity.gov

4. State Controller’s Cities Financial Transactions Report: A report of the annual Cities Financial

Transactions Report for the State Controller’s Office per Government Code section 53891.

5. Annual Street Report: A report of the Annual Street Report for the State Controller’s Office per

California Streets and Highways Code Section 2151.

6. Other Auditor Communications or Other Governing Standards: A report on Other Auditor

Communications required by SAS or other governing standards.

a. The audit firm shall issue a separate “management letter,” addressed to the City Manager

that includes recommendations for improvements in internal controls, accounting

procedures, and other significant observations that are considered to be non-reportable

conditions.

7. California Housing Successor Agencies Compliance Report: A Compliance Report for California

Housing Successor Agencies.

8. Parking Authority: A report of the City’s Parking Authority.

9. Paramount Public Financing Authority: A report of the City’s Paramount Public Financing

Authority.

10. Other Reports: Any reports on compliance and internal controls shall include all instances of

noncompliance.

D. Working Paper Retention

All working papers and reports must be retained at the auditor's expense for a minimum of seven (7) years,

unless the firm is notified in writing by the City of Paramount of the need to extend the retention period. The

auditor will be required to make working papers available to the City of Paramount or any government

agencies included in the audit of federal grants. In addition, the firm shall respond to the reasonable inquiries

of successor auditors and allow successor auditors to review working papers relating to matters of

continuing accounting significance.

E. Irregularities and Illegal Acts

Auditors shall be required to make an immediate, written report of all irregularities and illegal acts or

indications of illegal acts of which they become aware of the following parties: the City Manager, the City

Attorney, the Assistant City Manager, and the Finance Director.

Page 5 of 15

Commodity Codes

• NAICS 541211Offices of Certified Public Accountants
• NAICS 541219Other Accounting Services
• NAICS 541611Administrative Management and General Management Consulting Services
• NAICS 541990All Other Professional, Scientific, and Technical Services

* Disclaimer: Government BidHub provides information on bids, RFPs (Requests for Proposals), and RFQs (Requests for Qualifications) solely for convenience and informational purposes. This site is not an official public notice board. For official details, responses, or inquiries, please contact the relevant government agency directly.