Getting its mandatory, annual audit will cost the City of Powell a bit more money in the coming years.

At an April 1 meeting, the Powell City Council approved a new, three-year agreement with the city’s longtime auditor, Seckman & Thomas. Under the arrangement, the Powell-based firm will receive $20,000 a year to comb through the city’s books. That’s up from the $15,000 the city had been paying.

If the city spends more than $750,000 worth of federal money in any given year, it must undergo an additional “Single Audit” at a cost of $6,000 (up from $5,000).

Although it’s an increased price, Seckman & Thomas remains “a darn good deal compared to what we’re hearing some towns and cities pay,” City Administrator Zack Thorington told the council.

Thorington added that Seckman & Thomas hadn’t hiked its rates in nine years.

Noting how much other costs have risen in recent years, Councilman Zane Logan called the new arrangement with Seckman & Thomas “more than fair.”

“I think it’s time to make it right with them,” Logan said of the increase.

Councilwoman Lesli Spencer added that she believes a part of the reason the city has gotten a good deal stems from “the amazingness of our staff” in reducing the amount of work the auditors need to perform.

The city did not issue a formal request for proposals before re-upping with Seckman & Thomas. The firm audits nearly all of the cities and towns in the Big Horn Basin and Thorington said past calls for proposals yielded no responses.

The City of Powell has enjoyed a string of clean audits. After reviewing the July 1, 2022 to June 30, 2023 fiscal year, CPA James Seckman told the council last fall that the city’s finances “couldn’t really, honestly, be much better.”