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Belle Plaine approves Loyd Group for 2025 audit and single audit
Summary
The council authorized hiring the Loyd Group, LLC for the City of Belle Plaine's 2025 audit and an associated single audit, citing cost parity on the regular audit and higher single-audit fees.
The Belle Plaine City Council approved a Letter of Engagement with the Loyd Group, LLC to perform the 2025 audit and the city's single audit.
Linda Stinnett introduced Scot Loyd of the Loyd Group, LLC. Loyd told the council he has been a CPA for 43 years and said the regular audit cost is comparable to the city's current audit vendor; he noted the single audit fee represents the principal cost difference. Dennis McGinnis moved to hire the Loyd Group, LLC for both the 2025 audit and the single audit and to authorize the mayor and city clerk to sign the engagement letter; the motion passed 4-0.
The minutes do not list a dollar amount for the engagement or for the single audit fee; the council authorized the mayor and clerk to execute the engagement letter on the city's behalf.
