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2008-112 Finance -McGladrey & Pullen Contract to audit accounts 12-11-08
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2008-112 Finance -McGladrey & Pullen Contract to audit accounts 12-11-08
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Last modified
4/20/2011 12:17:39 PM
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BOCC
Date
12/11/2008
Meeting Type
Regular Meeting
Document Type
Contract
Agenda Item
4g
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Agenda - 12/11/2008 - 4g
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\Board of County Commissioners\BOCC Agendas\2000's\2008\Agenda - 12-11-2008
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~~ 11. The Auditor shall file with the Local Government Commission two copies of the report of audit, including one copy of the federal Data <br />Collection Form, if a federal single audit is conducted. In addition, if the North Carolina Office of the State Auditor designates certain <br />programs to be audited as major programs, a turnaround document and a representation letter addressed to the State Auditor shall be submitted <br />to the Local Government Commission. Two copies of the report of audit should be submitted if the audit is performed only under the <br />provisions of the State Single Audit Implementation Act or a financial audit is required to be performed in accordance with Government <br />Auditing Standards. Three copies of the audit should be submitted for Councils of Governments. Two copies of the audit should be submitted <br />for tax levying Municipalities. Otherwise, one copy shall be submitted. Copies of the report shall be filed with the Local Government <br />Commission when (or prior to) submitting the invoice for the services rendered. All copies of the report submitted must be bound. The report <br />of audit, as filed with the Secretary of the Local Government Commission, becomes a matter of public record for inspection and review in the <br />offices of the Secretary by any interested parties. Any subsequent revisions to these reports must be sent to the Secretary of the Local <br />Govemment Commission. These audited financial statements are used in the preparation of Official Statements for debt offerings (the <br />auditors' opinion is not included), by municipal bond rating services, to fulfill secondary market disclosure requirements of the Securities and <br />Exchange Commission, and other lawful purposes of the government, without subsequent consent of the auditor. 12. Should circumstances <br />disclosed by the audit call for a more detailed investigation by the Auditor than necessary under ordinary circumstances, the Auditor shall <br />inform the Governing Board in writing of the need for such additional investigation and the additional compensation required therefore. Upon <br />approval by the Secretary of the Local Government Commission, this agreement may be varied or changed to include the increased time <br />and/or compensation as maybe agreed upon by the Governing Board and the Auditor. <br />13. If an approved contract needs to be varied or changed for any reason, the change must be reduced to writing, signed by both parties, preaudited <br />if necessary, and submitted to the Secretary of the Local Government Commission for approval. effective unless approved by the Secretar~of <br />the Local Government Commission, the Governing Board, and the Auditor. No change shall be <br />14. Item 15 maybe completed by referencing the engagement letter and attaching a copy of the engagement letter to the contract to incorporate the <br />engagement letter into the contract. In case of conflict between the terms of the engagement letter and the terms of this contract, the terms of <br />this contract will control. Engagement letter terms are deemed to be void unless the conflicting terms of this contract are specifically deleted in <br />Item 21 of this contract. Engagement letters containing indemnification clauses will not be approved by the Local Government Commission. <br />15. There are no special provisions except: the attached arrangement letter is an integral part of this contract and should be read in its entirety <br />when reading this contract <br />16. A separate contract should not be made for each division to be audited or report to be submitted. A separate contract must be executed for each <br />component unit which is a local government and for which a separate audit report is issued. <br />17. The contract should be executed and submitted in triplicate to the Secretary of the Local Government Commission. The mailing address is 325 <br />North Salisbury Street, Raleigh, North Carolina 27603-1385. The physical address is 4505 Fair Meadow Lane, Suite 102, Raleigh, North <br />Carolina 27607-6449. <br />18. Upon approval, the original contract will be returned to the Governmental Unit, a copy will be forwarded to the Auditor, and a copy retained <br />by the Secretary of the Local Government Commission. The audit should not be started before the contract is approved. <br />19. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be enforceable unless entered into <br />in accordance with the procedure set out herein and approved by the Secretary of the Local Government Commission. <br />20. If this audit engagement is not subject to Government Auditing Standards, then Item 5 shall be listed as a deleted provision in Item 22. An <br />explanation must be given for deleting this provision. <br />21. All of the above paragraphs are understood and shall apply to this agreement, except the following numbered paragraphs shall be deleted: (See <br />Item 16.) <br />By Valerie Foushee Chai erson <br />(Please type or print name and title <br />Firm McGladrey & Pullen LLP <br />By Jol~ri ~ Gilberto <br />~ / (please type or print name) (Signature of Mayor/ h ' rson o veining board) <br />J~ /~~- ~/ <br />7f2.~~~' ` Date <br />(Signature of authorized audit firm representative)- N/A <br />By (Chao of Audit Committee- please type or print name) <br />Date ~ ~~ 3~~ <br />(Signature of Audit Committee Chairperson) <br />Approved by the Secretary of the Local Govemment Commission <br />as provided in Article 3, Chapter 159 of the General Statutes or <br />Article 31, Part 3, Chapter 115C of the General Statutes. <br />For the Secretary, Local Govemment Commission <br />(Signature) <br />Date <br />Date N/A <br />(If unit has no audit committee, this section should be marked "N/A.") <br />This instrument has been preaudited in the manner required by The <br />-Local Government Budget and Fiscal Control Act or by the School <br />Budget and Fiscal Control Act. <br />Garv Humnhreys <br />Governmental Unit Finance Officer (Please type or print name) <br />~~ <br />(Preaudit ertinc a must be d d.) <br />
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