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Council approves sole-source financial-services agreement for cash reconciliation, not-to-exceed $50,000
Summary
The council authorized a sole-source professional-services agreement (not to exceed $50,000) to help reconcile cash and tax receivable accounts; staff said the contractor will run reports but not post entries and will provide biweekly updates to town staff.
Council authorized a sole-source, not-to-exceed $50,000 agreement with the firm identified in meeting materials as "Barry Dunn McNeil and Parker LLC" to assist the finance department with cash reconciliation and audit preparation.
Finance director Beth and staff described the need: cash reconciliations remained incomplete, withholding accounts need review, and a prior consultant's recommendations had not been fully acted on. Beth said the firm will help complete the work and participate in biweekly check-ins to report hours and progress. Sarah noted contract provisions around limitation of liability and recommended staff review the agreement language; she also emphasized that the contractor will not make postings to the town ledger. "Their ability will be limited to viewing our ledger; they will not physically be posting anything or doing any actual accounting that hits the ledger," Beth said.
Councilors asked about scope, expected outcomes and safeguards; staff said the engagement will begin with cash and then address tax receivable issues and other priorities as hours permit. The authorization passed, and staff will return regular progress updates.
