FENWICK ISLAND – A new auditing firm is expected to benefit Fenwick Island.
Last week, the Fenwick Island Town Council selected PKS & Company as the town’s new auditor.
Mayor Gene Langan said the decision to select a new town auditor came at the recommendation of the town’s Audit Committee.
“This came about as a recommendation from one of the Audit Committee’s members, Wayne Carmean, who in his past life was in charge of massive budgets, and they had a policy to change auditors every few years,” he said.
Langan told the council the committee recommended the town adopt a similar policy.
“We at the Audit Committee took it upon ourselves to interview some firms, and what we would like to implement for the town is a policy of changing auditors every five years,” he said. “We would like to bring in a new audit firm for this year because we think it’s good to get some fresh eyes looking at everything.”
Town Manager Terry Tieman said the town received four proposals from surrounding audit firms and that two were interviewed by the Audit Committee.
“One was eliminated, it was actually the lowest one, because it was our current auditor,” she said. “The other one was eliminated because they were very expensive. So that left us with tow alternatives and they were very good alternatives. We actually had a hard time deciding.”
Tieman said the committee ultimately recommended PKS & Company for their experience in serving similar organizations. She said the firm currently provides audit services for Ocean View, Selbyville, Milton, the Lewes Board of Public Works, Dagsboro and Sussex Conservation District.
“We feel that PKS will serve us well,” she said.
The council voted unanimously to approve PKS & Company as the town auditor for fiscal years 2018-2020 with an option of two, one-year extensions. The firm will be paid $13,000 the first year, $11,500 the second year and $12,000 the third year.
“We will negotiate the cost for the fourth and fifth year,” Tieman said.
