Lockport to return to Sikich LLP for city audit, three-year agreement proposed
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Summary
City staff recommended returning to Sikich LLP for audit services under a three-year contract with an option to extend, citing the firm’s size and year-round support compared with the prior auditor; the first-year cost is $38,750 with a possible $2,500 addition for a single audit.
Lockport staff recommended the city engage Sikich LLP for external audit services under a proposed three-year agreement with an option to extend for another three years. The city’s first-year audit fee under the proposal is $38,750, with an additional $2,500 if a single audit is required.
Why it matters: Staff and finance officials said Sikich provides broader year-round support and in-year accounting resources that the city missed while GW and Associates served as auditor; the change aims to reduce vulnerability to accounting and auditing changes.
Details: Staff explained the prior auditor, GW and Associates, served three years after an RFP; the proposed Sikich contract adds roughly $1,500 compared with the prior arrangement but brings larger-firm resources. The proposal includes a 3.8% escalator for subsequent years.
Council action: Staff asked for approval of resolution 25-071 to contract with Sikich; council members asked clarifying questions about costs and escalators and indicated support for the engagement.
Next steps: If approved, the contract would begin with the listed first-year fee and staff said Sikich would provide year-round accounting support as part of the engagement.
