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Council leans toward one-year audit extension pending clarifications; staff may issue RFQ next year
Summary
Council discussed renewing the town's audit contract with Waycaster LLC for a one-year extension versus issuing a request for qualifications. Members generally favored extending for one year to allow the new finance team to work with the auditor, pending answers to specific questions about line-item fees and services.
Town Manager Matt briefed the council on March 24 about the town's audit contract with Waycaster LLC. The existing contract covered two years with an option to extend for one additional year. Matt asked whether council preferred exercising the one-year option or issuing a request for qualifications (RFQ) to seek a new auditor.
Council members generally favored extending the contract for one year to allow the new finance director and staff to work with the current auditor and for the town to pursue an RFQ at a later, more opportune time. Jennifer Waycaster, the auditor, participated in the discussion and explained that some line items on the proposal (for example, a crosswalk item of $3,000 and an additional $4,000 for a single audit) reflected recurring state reporting requirements and potential extra work if the town required certain audit services.
Council requested clarification on those line items and asked staff to obtain follow-up answers from Waycaster before placing the extension on the regular-session agenda for a vote. Matt said staff would gather the requested details and move the extension to the regular meeting agenda once outstanding items were answered.
