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Oak Grove approves five-year audit agreement with Westbrook & Co.
Summary
After a limited procurement response, the Oak Grove board voted to approve a recommended five-year auditing-services agreement with Westbrook & Co., with annual fees rising from $17,700 in 2025 to about $20,100 by 2029.
Oak Grove alderwomen on Oct. 21 approved a recommended five-year auditing services agreement with Westbrook & Co.
Staff reported the city posted a request for proposals for auditing services on Aug. 15; five firms initially reached out but only Westbrook & Co. submitted a full proposal, staff said. Matt, presenting the item, said the RFP sought a minimum three-year engagement with two one-year extension options and recommended locking in a five-year term to secure pricing.
Matt said the proposal would set the fiscal 2025 audit fee at $17,700 with an annual escalator, reaching about $20,100 in 2029; the prior contract rate was reported at roughly $12,350 per year. He told the board some firms declined to submit full bids citing the city’s size and an industry shortage of public accountants; he also warned that not having an auditor can complicate bond-covenant reporting.
A motion to approve the agreement with Westbrook & Co. through 2029 was made, seconded and approved by voice vote.
