Agenda - 04-21-2009 - 4i - Laserfiche WebLink

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S Orange County, North Carolina March 16, 2009 Page 4 Our professional standards require that we perform certain additional procedures, on current and previous years engagements, whenever a partner or professional employee leaves the firm and is subsequently employed by or associated with a client. Accordingly, the County agrees it will compensate McGladrey & Pullen, LLP for any additional costs incurred as a result of the employment of a partner or professional employee of McGladrey & Pullen, LLP. During the course of our engagement, we may accumulate records containing data which should be reflected in your books and records. The County will determine that all such data, if necessary, will be so reflected. Accordingly, you will not expect us to maintain copies of such records in our possession. The assistance to be supplied by organization personnel, including the preparation of schedules and analyses of accounts, has been discussed and coordinated with Mr. Gary Humphreys, Fnancial Services Director. The timely and accurate completion of this work is an essential condition to our completion of the audit and issuance of our audit report Other Terms of Our Engagement Our fees are based on the time required by the individuals assigned to the engagement, plus direct expenses. Interim billings will be submitted as work progresses and as expenses are incurred. Billings are due upon submission. Our fee for the services described in this letter and in the LGC-205 Contract fo Audit Accounts issued by the Local Govemment Commission will not exceed $92,700 and $5,250 for the preparation of schedules of property tax receivables for the Towns of Chapel Hill, Carrboro and Hillsborough, unless the scope of the engagement is changed, the assistance which the County has agreed to furnish is not provided, turnover of key personnel before the audit is completed, or unexpected conditions an; encountered, in which case we will discuss the situation with you before proceeding. Any servues performed in addition to normal audit procedures will be charged at standard rates. Any additional major programs above the four (4) major programs will be billed at $4,200 each. All other provisions of this letter will survive any fee adjustment. Any claim arising out of services rendered pursuant to this agreement shall be resolved in accordance with the laws of the State of North Carolina. It is agreed by the County and McGladrey & Pullen, LLP or any successors in interest that no claim arising out of services rendered pursuant to this agreement by or on behalf of the County shall be asserted more than two years after the date of the last audit report issued by McGladrey & Pullen, LLP. In the event we are requested or authorized by the County or are required by govemment regulation, subpoena, or other legal process to produce our documents or our personnel as witnesses with respect to our engagements for the County, the County will, so long as we are not a party to the proceeding in which the information is sought, reimburse us for our professional time and expenses, as well as the fees and expenses of our counsel, incurred in responding to such requests. The working papers for this engagement are the property of McGladrey & Pullen, LLP. However, you acknowledge and grant your assent that representatives of the cognizant or oversight agency or their designee, other govemment audit staffs, and the U.S. Govemment Accountability Office shall have access to the audit working papers upon their request; and that we shall maintain the working papers for a period of at least three years after the date of the report, or for a longer period if we are requested to do so by the cognizant or oversight agency. Access to requested workpapers will be provided under the supervision of McGladrey & Pullen, LLP audit personnel and at a location designated by our Firm.