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Audit committee briefs public on external ACFR contract; full board approved Talbot, Corvola & Warwick LLP
Summary
The committee reviewed the external audit procurement for the Annual Comprehensive Financial Report, which produced a single proposal from Talbot, Corvola and Warwick LLP. The district has entered a contract through March 31, 2030, with potential renewal; the full board approved the contract by resolution 7081 on April 8.
The audit committee reviewed the procurement and contracting process for the district’s external auditor of the Annual Comprehensive Financial Report (ACFR) and heard that a single proposal was received and accepted.
"Our contract with TKW had expired as of March, and we did go out for additional proposals. We received only one, and it came back from TKW," Chief Morrison said. The committee was told the single proposal did not meet all proposal requirements but the district evaluated it and accepted the proposal and entered into a contract.
Chief Morrison said the interim audit is scheduled to start the week after next. Committee members thanked Caroline Zadokovsky for serving on the selection panel and purchasing and contracting staff for assistance.
Board action: Chief Morrison and committee members noted that the full board approved the contract with Talbot, Corvola and Warwick LLP (TKW) at the April 8 regular board meeting via Resolution 7081. The contract is in place through March 31, 2030 and may be renewed for up to five additional years by amendment signed by both parties.
Committee members emphasized that having the audit committee participate in the selection process is best practice and helps public credibility, even when only one vendor responds.
Ending: The committee moved on after the item with no additional formal committee vote recorded on the contract; the interim audit work was described as starting imminently.
