To: The Honorable Mayor and Board of Commissioners From: Jackie Huffman Finance Director / Gerry Vincent Interim Town Manager Subject: Approve FY 2017 audit contract
State law requires annual audits of our financial statements. Staff has negotiated the contract with Martin Starnes & Associates who have audited the Town's financial statements for several years. The proposed contract cost is $33,050. Comparable towns in NC paid the following amounts according to the State Treasurer's Office website for FY 2015, the most recent year available:
Kannapolis* $33,550
Mooresville $49,000
Gastonia* $52,550
Concord $64,000
Apex $49,900
Hickory* $56,000
* indicates other Martin Starnes clients.
All audits vary in complexity, number of funds, data provided by staff, etc.
Please approve contract.
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