The Board of Estimate and Taxation approved a new five-year contract with the citys current auditing firm at a fee lower than Norwalk is currently paying. McGladrey and Pullen, LLC of Stamford proposed a flat annual fee of $89,030 for each of the next five years. The expiring contract, said Norwalks finance director Tom Hamilton, was for $92,000 per year.
Six auditing firms submitted proposals for the new contract. An interview committee appointed by the Board of Estimate met with three finalists and made their recommendation at last nights Board of Estimate meeting.
We thought it was time to open up the bidding process, said Fred Wilms, chairman of the Board of Estimate. Our current auditors, though, offer the right mix of benefits.
Wilms said several factors determined the selection of McGadrey and Pullen including their professional reputation and the good work they have done for Norwalk in the past. The reduced cost, which Wilms characterized as an effort to be competitive, also impressed the committee. They are one of the leading firms in terms of auditing cities in Connecticut, said Wilms. They get cities like Norwalk.