Gulf Coast Ultra Deep Royalty Trust
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
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FY2024 · Filed Mar 28, 2025
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Item 14. Principal Accountant Fees and Services
Fees and Related Disclosures for Accounting Services
On August 2, 2024, the Trustee dismissed Ernst & Young, LLP (“E&Y”) as the Royalty Trust’s independent registered public accounting firm. On August 2, 2024, the Trustee appointed Weaver and Tidwell, L.L.P. (“Weaver”) as the Royalty Trust’s independent registered public accounting firm.
The following table discloses the fees for professional services billed to the Royalty Trust by Weaver and E&Y for the years ended December 31, 2024 and 2023:
| 2024 | 2023 | |
|---|---|---|
| Audit Fees(1) | $55,750 | $170,000 |
| Audit-Related Fees | — | — |
| Tax Fees | — | — |
| All Other Fees | — | — |
| (1) | Fees billed for professional services rendered for the audit of the Royalty Trust’s financial statements and reviews of the financial statements included in the Royalty Trust’s quarterly reports and annual financial statements. In 2024, E&Y and Weaver billed $40,000 and $15,750, respectively, in audit fees. In 2023, all of the audit fees were billed by E&Y. |
The Royalty Trust has no audit committee, and as a result, has no audit committee pre-approval policies and procedures with respect to fees paid to Weaver. Any pre-approval or approval of any services performed by the principal auditor or any other professional service firms and related fees are granted by the Trustee.
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