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District recommends renewing audit contract with Bonsack & Frommelt after RFP review
Summary
After soliciting proposals, staff recommended the board accept a three-year audit engagement with Bonsack & Frommelt LLP, citing the firm's government-audit experience and staffing depth despite a slightly higher three-year cost than a smaller bidder.
Pleasant Valley administrators recommended that the board approve a three-year engagement with Bonsack & Frommelt LLP for annual financial audit services, following a request-for-proposals process that produced two responsive bids.
Business-office staff said they sent the RFP to four Iowa CPA firms; two returned proposals. Barr and Company LLC (a new firm whose principal has audit experience) proposed a flat $29,500 per year for three years (total $88,500). Bonsack & Frommelt proposed a three-year schedule that starts at $28,075 for year one, rising to $31,150 in year two and $32,050 in year three (total $91,275). The district used a state-recommended scoring rubric that weights cost (25 points) and other factors (75 points) such as firm size, local-government audit experience, audit-team qualifications and understanding of the work.
Staff scoring favored Bonsack & Frommelt (90.24 points) over Barr and Company (46 points), largely on experience, the number of CPAs available to consult, and the firm's demonstrated familiarity with the district’s audit needs. Board members asked about the prior price increase the district experienced in a previous year; staff explained that Bonsack's proposed increase reflected higher hourly rates for managers and staff. The business office emphasized that Bonsack's longstanding relationship with the district and deeper audit resources supported continuity and timely audit delivery.
The board voted to approve the three-year audit contract with Bonsack & Frommelt LLP for the fiscal years ending June 30, 2025, 2026 and 2027 (motion by Director Kunkle; second by Director Smith; roll call affirmative). Administrators said the contract will be executed and the finance office will continue working with the firm to schedule fieldwork and reporting.
Ending: The engagement locks in audit services for three years and preserves continuity with an experienced audit firm; staff will monitor performance and cost changes during the contract term.
