Commerce
6:47 am
Tue July 17, 2012

Clayton: City Staff Not Satisfied with Current Audit Firm

COMMERCE - The Commerce City Council Tuesday intends to contract with a new audit service due to delays and other complications with their current firm, which have impacted the city’s bond rating.

Included as part of Tuesday's agenda item, City Manager Marc Clayton says staff has experienced problems over the last few years with Conway Co. CPAs, including issuance of the city’s latest audit, which is now five months late and counting.

Clayton says at least one reporting agency has downgraded its bond rating, and “the city is delinquent in sending audits to our bond holders and several state and federal agencies.” Council is scheduled to consider contracting with Scott Singleton Fincher & Co. PC CPAs out of Greenville.

Out of five bidders "Conway has the lowest dollar cost, but Scott Singleton Fincher was the next lowest."

Tuesday's meeting begins at 6 p.m. from Commerce City Hall, 1119 Alamo Street.