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Commissioners approve Baker Tilly contract for GAAP conversion, contingent on council appropriation
Summary
LaPorte County authorized a contract with accounting firm Baker Tilly to convert county financial statements to GAAP for audit purposes (cost ~ $60,000-plus) with approval contingent on the County Council appropriating funds; commissioners noted the liability cap language in the contract.
County staff presented a contract with Baker Tilly to help convert LaPorte County's financial statements to GAAP and support the '24 audit wrap-up and the '25 start. Staff said the work is needed because the county has been filing on a regulatory (cash) basis and must transition to GAAP reporting for audits.
A county official stated, "The cost of the contract is approximately $60,000 plus." Counsel and commissioners discussed a limitation of liability clause that would cap damages at the contract amount if the firm were negligent; county counsel explained this liability cap is becoming common in professional-services contracts. Commissioners asked whether the county would be exposed to fines or other fees if a regulatory agency later found problems; counsel said fines are possible but reliance on a professional puts the county in a stronger position to defend findings.
Because the county has not yet secured the appropriation, commissioners amended the motion to make approval contingent on the County Council appropriating the funds; that amended motion passed by voice vote.
Next steps: Staff will seek the appropriation from the County Council; if approved, the county will execute the Baker Tilly contract and begin GAAP conversion work.
