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LCUAS board presses to secure auditor before deadline after single $12,700 bid
Summary
After receiving one $12,700 proposal for the FY2025 independent audit, the LCUAS board directed staff to widen outreach, solicit additional bids and convene a special meeting to approve a contractor and address funding.
The LCUAS board spent the largest portion of its meeting addressing the bylaw-mandated FY2025 independent audit after staff reported a single proposal from a local CPA firm totaling $12,700 (an $11,700 independent audit plus $1,000 to prepare IRS filings).
Board members said several firms declined to bid because the organization’s size, the time of year and workload for firms made quotes hard to secure. Members discussed whether to seek pro bono help, ask a developer-affiliated accountant for a reduced rate, or pursue a city-level bylaw change to lessen future audit frequency. Several members emphasized that the organization must comply with existing bylaws until any change is approved by city council.
The board asked the finance and audit committee and staff to circulate the request for proposal widely and to gather additional proposals within days. If a contractor under a board-specified threshold can be identified, the board agreed to convene a special meeting to approve it so the audit can proceed on schedule.
No contractor was selected at the regular meeting. Staff were also asked to produce a short report on available funds and possible funding sources (sponsorships, farmer’s market revenue, or city-allocated funds) before the special meeting.
