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Finance committee defers RKO audit contract after councilors object to 45% price increase
Summary
Bangor City finance staff recommended renewing a three-year contract with auditor RKO; councilors raised concerns about a first-year 45% cost increase, limited bidder response, and timeliness. The committee pulled the item from next week's council agenda and requested comparisons and more information.
Bangor City finance staff recommended on March 17 that the city extend its contract with RKO (the current auditor) for three years to perform the city's annual financial audit. Finance Director David Little said RKO has been the city's auditor for 13 years and proposed a first-year cost of $174,500. Little explained the audit is complex, requiring testing across seven enterprise funds, the school department and more than 80 grant agreements, and he said the bid estimated 1,038 hours of work.
"We are required to have an…
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