A five-person selection committee on Tuesday recommended using a Rogers-based firm to provide financial audit services for the Fayetteville Advertising and Promotion Commission through 2016.
The group chose Beall Barclay & Company over four other firms who responded to a recent request for proposal advertisement.
Marilyn Heifner, A&P executive director, said the audit is being required by a new city policy.
“We had two choices,” said Heifner. “We could either pay extra to (the city’s) accounting firm or we could go out for our own audit and save a little money.”
Heifner said it will be the first formal end-of-year financial audit in the commission’s 35-year history.
In their proposal, Beall Barclay estimated the Dec. 31, 2012 audit would cost $8,000 and anticipated a a maximum five percent increase each year through 2016. The firm also offered to waive $2,800 in set-up costs “in anticipation of a long term relationship” with the commission.
Committee members mentioned Beall Barclay’s close proximity to Fayetteville as one reason for choosing the firm.
“If we had questions or discrepancies, they could easily come to our meetings,” said commissioner Bob Davis.
Other firms to submit qualifications for auditing services were Przybysz & Associates of Ft. Smith, EGP CPA of Little Rock, BKD of Dallas and Grant Thornton of Dallas.
The group was also impressed with Beall Barclay’s list of client references which included the City of Rogers, the Bentonville Advertising and Promotion Commission, the Northwest Arkansas Conservation Authority and the Holiday Island Suburban Improvement District.
Aside from Heifner and Davis, Tuesday’s selection committee was comprised of Matt Clement, commission operations manager; Shelly Tuberville, the city’s accounting manager for investments and cash; and A&P commission chair Maudie Schmitt.
The A&P Commission will consider contracting with Beall Barclay during its next regularly scheduled meeting on Jan. 14.