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Regents extend Grant Thornton audit contract, increasing total to $4.225M
Summary
The committee approved a two‑year extension of the existing Grant Thornton contract for audit and advisory services, adding $950,000 to bring the total contract value to $4,225,000; the audit committee recommended re‑bidding after the extension ends.
The Board’s finance committee approved a two‑year extension of the system’s audit contract with Grant Thornton LLP, increasing the total contract value to $4,225,000.
Dr. Blanchard said Grant Thornton — the system’s current auditor for FY21 through FY25 — completed the FY25 audit and agreed to hold pricing for the extension covering FY26 and FY27. The original contract amount was $3,275,000; the proposed extension adds $950,000. "With this proposed extension... it would take the total value of the contract to 4.2 million dollars," Dr. Blanchard said.
Regent Williams, speaking for the audit committee, said the committee reviewed the details and supported the extension while recommending that the contract be put out to bid at the conclusion of the two‑year extension. The committee approved the extension by voice vote.
The extension permits continuity of audit services for two upcoming fiscal years while allowing time to plan a competitive procurement at the contract’s end.
