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Village approves five‑year audit contract, board cites $14,000 first‑year savings
Summary
The village board voted to retain Bonsack and Fral LLP for fiscal years 2025–2029, with the first year estimated at about $30,000 and an advertised savings of roughly $14,000 compared with other bids; an extra $4,000 was noted if a federal single‑audit threshold is triggered.
The village board voted to retain Bonsack and Fral LLP to conduct the municipality’s annual audits for fiscal years 2025 through 2029.
Administrator Steve told the board the firm’s proposal would save about $14,000 in the first year compared with the next bid and estimated a first‑year contract cost of about $30,000. He also said the firm’s lead, Sarah Bonsack, previously served as the village’s part‑time finance director and is familiar with the town’s records, which the board said should speed field work and on‑time delivery.
Board members described recent problems with the previous auditor arrangement, saying audits the last two years were pushed to the deadline and required more outside coordination. “She knows our system,” one member said, adding that timely completion and familiarity with village finances were priorities.
The board also discussed the possibility of a federal single audit: if federal grant thresholds are exceeded in a fiscal year, an additional fee was noted (the proposal included a $4,000 add‑on if a single‑audit requirement applies). The board moved and approved the contract award to Bonsack and Fral LLP by roll call.
The contract covers annual audits through fiscal 2029 with incremental price adjustments described in the proposal; the village will proceed with the engagement and schedule the mandatory meetings set out in the firm’s proposal.
Outcome: Motion carried on a roll call vote; the board instructed staff to finalize the engagement and schedule the audit timeline.
