2009-019 Finance - McGladrey & Pullen

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11. The Auditor shall File with the Local Govemment Commission two copies of the report of audit, including one copy of the federal Data Collection Form, if a federal single audit is conducted. In addition, if the North Carolina Office of the State Auditor designates certain programs to be audited u major programs, a one page turnaround document and a representation letter addressed to the State Auditor shall be submitted to the Local Government Commission. Two copies of the report of audit should be submitted if the audit is performed only under the provisions of the State Single Audit Implementation Act or a financial audit is required to be performed in accordance with Govemnent Auditin¢ Standards. Three copies of the audit should be submitted for Councils of Governments. Two copies of the audit should be submitted for tax levying Municipalities. Otherwise, one copy shall be submitted. Copies of the report shall be filed with the Local Government Commission when (or prior to) submitting the invoice for the services rendered. All copies of the report submitted must boon .The report of audit, as filed with the Secretary of the Local Government Commission, becomes a matter of public record for inspection and review in the offices of the Secretary by any interested parties. Any subsequent revisions to these reports must be sent to the Secretary of the Local Government Commission. These audited financial statements ate used in the prepazation of Official Statements for debt offerings (the auditors' opinion is not included), by municipal bond rating services, to fulfill secondary mazket disclosure requirements of the Securities and Exchange Commission, and other lawful purposes of the government, without subsequent consent of the auditor. _ .. 12. Should circumstances disclosed by the audit call for a more detailed investigation by the Auditor than necessary under ordinary circumstances, the Auditor shall inform the Governing Board in writing of the need for such additional investigation and the additional compensation required therefore. Upon approval by the Secretary of the Local Government Commission, this agreement may be varied or changed to include the increased time and/or compensation as may be agreed upon by the Governing Board and the Auditor. 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 if necessary, and submitted to the Secretary of the Local Government Commission for approval. No change shall be effective unless approved by the Secretary of the Local Government Commission, the Governing Board, and the Auditor. 14. Item IS may be completed by referencing the engagement letter to the contract to incorporate the 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 this contract will control. Engagement letter terms are deemed to be void unless the conflicting terms of this contract are specifically deleted in Item 21 of this contract. Engagement letters containing indemnification clauses will not be approved by the Local Government Commission. 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 when reading this contract. 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 component unit which is a local govemtrxnt and for which a separate audit report is issued. 17. The contract should be executed and submitted in triplicate to the Secretary of the Local Govemrrtent Commission. The mailing address is 325 North Salisbury Street, Raleigh, North Carolina 27603-1385. The physical address is 4505 Fair Meadow Lane, Suite 102, Raleigh, North Carolina 27607-6449. I8. Upon approval, the original contract will be returned to the Governmental Unit, a copy will be forwarded to the Auditor, and a copy retained by the Secretary of the Local Government Commission. The audit should not be stetted before the contract is apnroved. 19. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be enforceable unless entered into in accordance with the procedure set out herein and approved by the Secretary of the Local Government Commission. 20. If this audit engagement is not subject to Government Auditin¢ Standards, then Item 5 shall be listed as a deleted provision in Item 22. An explanation must be given for deleting this provision. 21. All of the above paragraphs are understood and shall apply to this engagemen pt for the f Mowing numbered pazagraphs shall be deleted: (See Item l6) Firm McGladre &Pullen LLP By f- ~"--`` (Please type or print and title) By lohn J. Gilberto Partner ~~-DfiLC.~ ! us ~ • /^/_ ~ _ ~~ Ple a t~e) `tD (,~ S (Signature of Mayor a Chaitperaoa of govern' g board) (Si lure of thorized audit firm representative) DateT~ ~~(~ 9 Date 3 ~.~ 9/~7 ~ sy tlt A- (Chairperson of Audi[ ommittee (Please type or print name) Approved by the Secretary of the Local Government N~(1 Commission as provided in Article 3, Chapter 159 of the General Statutes or Article 31, Part 3, Chapter 115C of the (Signature of Audi[ Committee Chairperson) cenaadstatr~#{ARON EDMUNDSON For the Secretary, Local Government Commission Date MAY ~'S'~b~ pf unit dope not have an audit committaa,-drie section slrould be marked "N/A.") This inshum~t has been prearrdited in the manna required by The Local Government Bridget and Fiscal Control Act or by the School Brdget and fiscal Ccetrol Act. GRAY Nlmph/Reys Governmental Un' 'nor O aer (Pkase type a print Dame) Date _ _ (S gpajure~ ~~ (1'aEaudit Certificate tdust be dated)