Town of Newmarket

Donald J. Parnell

Finance Director

Town Hall

186 Main Street

Newmarket, NH 03857

Request for Proposal

The Town of Newmarket is seeking to have a prescribed procedures review audit prepared for the town. Such review will validate the administrative flows for soundness and compliance by town employees.

Scope of Review

Such a review should review the town processes, procedures, policies, controls, signing authorities and approval levels for adequacy, best practices and to make recommendations for improvement, where appropriate. This review should also identify key areas of risk and should make recommendations on improvements and future audit priorities. Results should be provided in a secure PDF format, in addition to hard copy.

This review should validate key policies, procedures, controls and signing authorities and make sure they are consistent with Federal and State law. This review must be completed within 120 days of the contract award.

Areas to Review

• Cash management practices and processes.

• Expense control, signing authorities and approval levels of all operating expenses and accounts payable.

• Comprehensive documentation review of all trust funds, capital reserves, TIF’s , projects, operating reserves, including purpose of account, allowable sources and uses of funds, signing authorities and approval levels required for all transactions for each account and allowable transfers between funds/accounts.

• Adequacy and independence of the internal control process. Reporting lines on the internal auditor.

• Review the overall management structure of the Town Administration, reporting lines and interaction with the Town Council. Make recommendations for improvement, if any. For example: Should the Finance Director report directly to the Town Administrator or the Town Council or an Audit Committee of the Town Council?

• Contract Bidding, awarding and administrative review process review.

• Review legal expenses and consultant contracts and the process for authorizing and approving their use.

• Review sources and uses of impact fees.

• Review of Town reimbursed business expenses of senior elected and appointed officials and department heads.

• Review use, controls and approvals of town paid fuel, town owned equipment and property.

• Review audit recommendation over the last 9 years and the resulting actions taken by Town Council, Town Administrator etc.

• Statistical sampling of payroll, 1099’s, TIF transactions and transfers between funds.

• Audit all TIF’s that have not had an audit review in the last 3 years.

All proposals must be received by 4:30pm on 12/18/06 and should be sent to:

Donald J. Parnell

Finance Director

Town of Newmarket, NH

186 Main Street

Newmarket, NH 03857