The Bethany Beach Audit Committee recommended to the town council on Jan. 21 that the town contract with auditing firm Trice, Geary & Meyers to be the town’s auditor for the coming year.
Committee Chairman Don Doyle said town had not been satisfied with the communication from the existing Philadelphia-based accounting firm, perhaps in part due to the company’s reluctance to send representatives to Bethany Beach to discuss auditing issues in person.
As a result, contract bid requests had been sent out, with two Salisbury, Md.-based firms responding. Both firms had made a presentation to the committee, Doyle said, and the members had selected Trice, Geary & Meyers (TGM) to recommend to the council.
While a significantly lower fee — $13,500 for the first year — might clearly recommend TGM over the town’s former firm (at $40,000 per year), Doyle said the comparatively inexpensive contract was nearly a mark against TGM in the consideration. Committee members, he said, were concerned the price was too low and wouldn’t allow the scope of work needed or that it would be significantly increased in future years.
However, research into the firm’s existing clients reassured the committee members that TGM would provide excellent service, and TGM said their fee would increase by only $500 per year for the next two years.
Doyle said he believed TGM would be able to provide the audit committee with an audit report with information that went “beyond the numbers.”
Based upon the resounding recommendation, the town council unanimously approved the contract with TGM.