2009-019 Finance - McGladrey & Pullen

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Orange County, North Carolina March 16, 2009 Page 4 Our professional standards require that we perform certain additbnal procedures, on current and previous years engagements, whenever a partner or professional employee leaves the firm and is subsequently empbyed 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 reconis containing data which should be reflected in your books and records. The County wiN determine that all such data, if necessary, will be so reflected. Accordingly, you will not expect us in 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, Financial Services Dirrrctor. The timely and accurate completon 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 arB based on the time required by the individuals assigned to the engagement, plus direct expenses. Interim billings will be submitted as work progresses and ~ expenses are incurred. Billings are due upon submission. Our fee for the services described in this lettbr and in the LGC-205 Contract to Audit Acxounts issued by the Local Government 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 are encountered, in which case we will discuss the situation with you before proceeding. Any services 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 wfil 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 behaff of the County shall be asserted more than two years after the date of the last audit report issued by McGlairey & Pullen, LLP. In the event we are requested or authorized by the County or are required by government regulation, subpoena, or other legal process to produce our dowments or our personnel as witnesses with respect to our engagements for the County, the County will, so bng as we are not a party th 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, incurned in responding to such r+equesLs. The working papers for this engagement are the property of McGladrey & Pullen, LLP. However, you ackrrowledge and grant your assent that representatives of the cognizant or oversight agency or their designee, other government audit staffs, and the U.S. Government 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.