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Selectmen approve internal audit statement of work with CliftonLarsonAllen for $58,500
Summary
The Board of Selectmen approved a 12-week statement of work with CliftonLarsonAllen to perform an internal audit of the town's procure-to-pay processes, vendor management, credit card use and accounts payable for $58,500; the work will include school finances but exclude capital and payroll.
The New Canaan Board of Selectmen on March 4 approved a statement of work with CliftonLarsonAllen (CLA) for a 12-week internal audit of the town's procure-to-pay cycle at a cost of $58,500.
The audit committee brought the proposal to the board, and Bill Bradley, chair of the subcommittee on the internal audit project, described the engagement as a targeted review of internal controls and procedures covering procurement, vendor management, town credit-card usage and the accounts-payable process for both the town and the schools. "This would be a 12 week project. I think it's $58,500," Bradley said. He said capital projects, payroll and benefits were excluded from the scope.
The audit committee recommended the work after evaluating potential firms and negotiating the statement of work under a previously executed master services agreement with CliftonLarsonAllen. Bradley said the committee is close to signing another master services agreement with a second firm but that this specific SOW would be performed by CLA.
Bradley said the work will examine documentation and adherence to written procedures, look for opportunities to reduce duplicate manual work and identify whether the town can use existing modules in its Munis financial system to reduce spreadsheet duplication. "It will be looking at the procurement side of things, vendor management, any town credit cards that are being used ... and the overall accounts payable process," Bradley said.
Selectmen asked about the project's cost and focus. A selectman noted the town's overall operating size and urged the audit committee to weigh consultant costs against the town's budget, saying the town was a "$170,000,000 enterprise" and not a multibillion-dollar operation. Bradley and other members of the audit committee said the committee negotiated fees and that the work was intended to be proportional and cost-conscious.
Board members also clarified implementation: CLA will deliver recommendations but will not implement changes. Bradley said the audit committee and town staff would evaluate recommendations and decide what the town could implement internally and what might require external help.
A motion to approve a request from the audit committee for a statement of work under the previously approved master services agreement with CliftonLarsonAllen LLP in the amount of $58,500 carried unanimously.
