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Audit committee unanimously recommends one-year contract amendment with SB & Company, approves CPI-based increase
Summary
The audit committee voted unanimously to recommend a one-year amendment to extend SB & Companys audit contract and allow a Consumer Price Index increase (about 2.7%, roughly $8,000) for year three of the contract, to be funded from existing audit funds.
The Montgomery County audit committee unanimously recommended that the full council approve a one-year contract amendment to extend SB & Companys audit engagement and permit a third-year price increase tied to the Consumer Price Index.
Blaise DeFazio explained the contract background: SB & Company won the countys RFP, the current engagement is in its third year of a five-year arrangement and the contract allows SB & Company to request a CPI-based increase in the third year. DeFazio said the requested increase for the past year was about 2.7%, or roughly $8,000, and that staff recommended the amendment using existing audit funds in the audit NDA.
"So staff recommends approval," DeFazio said. The committee raised no objections and the chair called for those in favor of recommending the amendment to the full council; the chair noted the recommendation was unanimous in the committee.
The committee did not record an individual roll-call vote in the meeting transcript and no amendments to the staff recommendation were made during the session. The recommendation will be considered by the full council as the next formal step.
