The costs the District incurs for its mandated audits are not inconsequential. To give the reader an idea, “at the…Board of Trustees(‘)…meeting of March 10, 2021 the Board…approved a five-year professional services contract with DavisFarr, LLP to provide independent audit services related to the annual audit of the District’s financial statements.”¹ “Additional audit services (could) also be provided via separate task order(s) related to each specific audit topic²…Audit(s) of the District’s…financial statements (were) to be performed for a fixed fee;” $49,000 for fiscal year 2020/21, rising to $53,100 for fiscal year 2024/25³. Additional audit services were to be billed anywhere from $90/hour for staff time, up to $180/hour for partner time³. And additional travel costs can total a maximum of $5,000 annually³.

So now you know!

1. See pages 85-98 of the packet of materials prepared in anticipation of the Board’s March 10, 2021 meeting (“the 3/10/2021 Board packet“).
2. See page 004 of the 5/11/2022 Board packet.
3. See page 98 of the 3/10/2021 Board packet.