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Committee tentatively backs continuing auditor but asks for explanation of cost jumps
Summary
Mason/Mays proposed a five‑year audit contract with annual increases and added deliverables that pushed year‑one cost from about $50K to $58K; the committee asked staff to clarify why some line items (annual financial transaction report) rose substantially before recommending extension.
The Finance & Investment Committee reviewed a proposed extension of the town’s audit contract with Mason Associates (presented as Mays) during its May 1 meeting. The firm proposed a five‑year renewal with roughly 3.2% annual increases and enumerated additional deliverables — including the Transportation Development Act report, an annual financial transaction filing and streets reporting — that together raised the proposed year‑one cost from roughly $50,000 to about $58,000.
Committee members expressed appreciation for continuity and the firm’s familiarity with town operations, but they also asked for a line‑item explanation of the apparent large increase on some deliverables (one line item for annual financial transactions appeared to be several times larger than previously billed). The committee signaled conditional support for recommending the extension to council, pending staff follow‑up to explain the specific drivers of the cost increases and confirm whether tasks could be absorbed or priced more narrowly.
Next steps: staff will follow up with the auditor to reconcile the new proposal against prior billing detail and return findings to the committee before the council considers contract renewal.
