Approval to Renew the Blue & Co. Personal Service Contract (PSC).

Blue & Co., LLC, is the University's external auditing firm. The firm has completed the University's FY 2021 audit, but it has not yet completed the University's FY 2022 or FY 2023 audits. Given that the PSC's original term ends on June 30, 2023, the University will have to renew the PSC if those audits are to be completed. The PSC provides for four (4) optional one-year renewals.

Blue & Co. has provided the following fee schedule:

Partner: $450 per hour Audit Principal: $405 per hour Senior Manager: $340 per hour Manager: $290 per hour Senior Staff: $225 per hour Staff: $190 per hour Intern: $140 per hour

The estimated price per audit is $300,000. Therefore, the total price of the PSC is not expected to exceed $600,000.

Acting President Dr. Michael Dailey recommends that the Board of Regents approve the renewal of the Blue & Co. PSC.

Approve the renewal of the Blue & Co. PSC.