Title
Resolution - Approval of Acceptance of the Selection of Independent Auditor and Tax Services - K Jones
Other Info
Submitted By: Ericca Klein on behalf of the Chief Financial Officer
Department: Chief Financial Officer
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session
Discussion
The Cooperative maintains an independent auditor for the examination of financial records and tax services. PEC has utilized the current audit firm, Bolinger, Segars, Gilbert & Moss, L.L.P. (BSGM), since the 2013 fiscal year audit; the audit partner of the current audit firm has been in place for five (5) years since the 2018 fiscal year audit.
PEC conducted a RFP, with CPA firms invited based on recommendations from the Association of Large Distribution Cooperatives of which PEC is a member. On review of proposals from four firms, BSGM provided best value and service to PEC. The Audit Committee discussed this selection at their meeting on April 4, 2023 and recommended the acceptance of BSGM for fiscal years 2023 to 2025.
The Board may now consider to accept the selection and retain the current audit firm for the solicitation of these professional services BSGM for fiscal years 2023 to 2025 audit and tax services.
Body
NOW, THEREFORE, BE IT RESOLVED BY THE PEC BOARD OF DIRECTORS (“Board”) that the Board of Directors hereby accepts and approves the selection and retain Bolinger, Segars, Gilbert & Moss, L.L.P. (BSGM) as the Cooperative’s independent auditor and tax professional for the fiscal years 2023-2025 audits.
BE IT FURTHER RESOLVED that the audit partner of the current audit firm selected serve for up to a five (5) year term, and
BE IT FURTHER RESOLVED that the Chief Financial Officer, or designee, is authorized to take all needed actions to implement this resolution.