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Auditor Julie Floyd signals next year will be her last; Floyd & Associates engagement letter and fee estimate reviewed
Summary
Committee members were told Julie Floyd indicated this year would be her last as county auditor; the packet included Floyd & Associates' engagement letter outlining services and an estimated combined fee of about $65,000 for audits and related work, prompting discussion of issuing a bid for next year.
During the March 17 meeting the Finance Committee discussed starting a bid process for county auditing services after Julie Floyd indicated during the budget process that next year would be her last year providing the county's audit services. Committee members received the current engagement letter from Floyd & Associates, CPAs, which outlines the audit scope, responsibilities and a preliminary fee estimate.
The engagement letter in the packet lays out the audit objectives, scope of testing, and responsibilities for management. The packet includes a preliminary fee estimate that totals approximately $65,000 for combined services: $49,500 for the financial-statement examination, $7,100 for Single Audit preparation (if applicable), $4,200 for budget preparation and $4,200 for a Circuit Clerk audit required by SB682. The committee asked staff to prepare a bid proposal and to bring the matter back for further consideration next month.
No formal motion to solicit bids was recorded at the March 17 meeting; members were given the existing engagement letter and asked to review it before the next committee meeting.
