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Spring City council approves Gilbert and Stewart audit engagement
Summary
The Spring City Council unanimously approved an engagement agreement with auditors Gilbert and Stewart for the city's annual audit; council discussed past fees and confirmed an engagement letter is on file.
The Spring City Council voted unanimously on Aug. 19 to approve an engagement agreement with auditors Gilbert and Stewart to conduct the city's annual financial audit.
Council members reviewed the engagement letter and discussed the firm's fee history. A councilmember stated that the city paid $10,000 for the audit last year; another said the fee has risen from $9,000 four years ago to $10,000.
A motion to approve the proposed audit agreement was made and seconded; the council voted unanimously to approve the engagement. The chair announced the vote and advised that the engagement letter is attached to the agreement on file.
Council discussion on the item was brief and administrative in nature. No additional terms, amendments or contingent conditions were recorded during the meeting. The chair closed the item and the council proceeded to adjourn the first portion of the meeting.
The audit engagement will be carried out under the terms of the signed engagement letter; the transcript indicates the letter was attached to the agreement presented to the council but no dollar amount for the current year's fee beyond historical figures was specified during the meeting.
