Orange County NC Website
Browse       Search
ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: April 21, 2009 <br />Action Agenda <br />Item No. ~- - j <br />SUBJECT: 2009 Audit Contract <br />DEPARTMENT: Finance PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Audit Engagement Letter and Contract <br />with McGladrey & Pullen <br />INFORMATION CONTACT: <br />Gary Humphreys, 919-245-2453 <br />PURPOSE: To approve the contract to perform the annual County audit for the fiscal year <br />ending June 30, 2009. <br />BACKGROUND: In FY 2006-07 the County conducted a Request for Proposals (RFP) process <br />for the selection of an .audit firm to perform the County audit for the next 3-5 years beginning <br />with FY 2006-07. The firm of McGladrey & Pullen was the only response to the RFP and was <br />awarded the contract. The firm provided revised quotes for the FY 2007-08 and FY 2008-09 <br />due to increased work associated with the new risk-based auditing standards. The fee for FY <br />2008-09 is $97,950 for the audit, an increase of 5% from the prior year. <br />FINANCIAL IMPACT: As stated above the cost of the audit contract with McGladrey & Pullen. <br />to perform the audit is $97,950 which was included in the Financial Services budget. <br />RECOMMENDATION(S): The Manager recommends the Board approve the audit contract for <br />FY 2008-09 with McGladrey and Pullen and authorize the Chair to sign on behalf of Board. <br />