Beginning January 1, 2020, the local audit billing rate will be adjusted to reflect salary increases for state employees and increases to non-discretionary operating expenses. The hourly billing rate for local government audit work will be $113 (up from $100), and fraud investigations will be billed at a rate of $210 per hour. Although the Office of the State Auditor evaluates audit rates each year, their goal is to maintain the adjusted hourly rate through 2021.
Local governments can take steps to prepare for their audit and manage audit costs, including:
- Prepare a list of all known and likely audits;
- Review your local government’s past audit reports and ask colleagues if they know of audit requirements for their departments and programs; and
- Contact state or federal auditing offices, as they can often tell you if they have any planned or mandated audits for your government approaching.
For further information, review the Office of State Auditor’s report, Preparing for audit: Tips for success.