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Harrison Township approves up to $10,000 in additional audit fees to implement new GASB standard
Summary
Trustees approved supplemental audit fees not to exceed $10,000 to cover auditor work and assistance implementing a new GASB standard on compensated absences, citing prior similar adjustments for recent GASB guidance.
The Harrison Township Board voted to approve additional audit fees of up to $10,000 to cover the township’s implementation of a newly issued Governmental Accounting Standards Board standard regarding compensated absences.
Clerk’s office staff told the board the township’s routine audit engagement fee is $49,600. The additional amount covers two components: an engagement-letter item not to exceed $1,500 for extra audit work and a change-order component not to exceed $5,000 for implementation assistance and recording the required entries. The clerk noted prior targeted fees for recent standards — a $3,500 charge related to IT auditing standards and a $7,000 implementation fee for GASB 96 — as context for the request.
Trustee Liza Brown moved and Trustee Dean Olgiati seconded approval of the additional fees, which the board carried.
