The qathet Tourism Society will no longer have to audit its books for the City of Powell River.
City council agreed Thursday night (March 5) to amend the tourism service agreement to remove the more expensive auditing requirement for the society.
In its place is a so-called “review engagement requirement.”
Acting Chief Financial Officer Ken Bjorgaard says the city still has a lot of oversight.
“The society agrees to provide any additional documentation or explanations. The city reserves the right to review the society’s financial statements and any supporting documents,” Bjorgaard told council.
He said it will also be a “less strenuous process.”
“A review engagement can most likely be kept local from a local accounting firm as the local accounting firm that was doing the audit can no longer do the audit but it is capable of doing the review engagement,” Bjorgaard said.
Powell River will give qathet Tourism nearly $130,000 this year to market the city to visitors and run the visitor center at 4760 Joyce Avenue.
The agreement runs through the end of 2028.
The change to the review will also mean a smaller expense for the municipality.
The city’s payment for the financial review will be capped at $6,500 compared to a cap of $10,000 for an audit.
qathet Tourism Society found itself in the crosshairs of Councillor Jim Palm last year after he tried unsuccessfully to have the society change its name back to Tourism Powell River.
