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4 <br />FINANCE DEPARTMENT <br />MEMORANDUM <br />TO: John Link, County Manager <br />Albert Kittrell, Assistant Co. Manager <br />FROM: Ken Chavious, Finance Director ,~~ <br />DATE: November 18, 1998 ~/ <br />SUBJECT: JOCCA Audit Report <br />`•,,•ir .r •. <br />~`` ~~: <br />,~ ' <br />~•'+r e.~a''• <br />ORANGE COUNTY <br />NORTH CAROLINA <br />I have reviewed the audit report submitted by JOCCA for the fiscal year ended June 30, <br />1998. The following observations are made as a result of my review. <br />• JOCCA ended the year with a deficit in net assets of ($25,683). You may <br />recall that a similar situation existed at the end of the 1997 fiscal year. The <br />year-end deficit last year was (83,652). The 1998 financial statements reflect <br />notable improvement in financial condition from 97 to 98. <br />• The auditor rendered an "unqualified opinion" on JOCCA's financial <br />statements. This means that there were no indications of material weaknesses <br />in the accounting system or internal control structure of the organization. <br />As a recipient of Federal and State grants, JOCCA, like the County, must also <br />have a "Single Audit" performed. This audit resulted in no findings or <br />questioned costs. In fact, the auditor considers the organization "low risk". <br />This means that they have a history of compliance with all grant requirements <br />and guidelines. <br />• For many years JOCCA operated without a Finance Director. Last spring <br />they took action to hire a professional trained in fiscal management and <br />accounting issues. This initiative will strengthen the organization's financial <br />planning and reporting abilities. Proper financial planning and adequate <br />accounting serve to prevent deficit situations. <br />I have worked with JOCCA over the years and the organization has continuously adhered <br />to the provisions contained in our program agreements. In addition, they have always <br />been prompt in responding to our requests for information. <br />Please contact me if you have any questions or need more information. <br />208 SOUTH CAMERON ST • P.O. BOX 8181 • HILLSBOROUGH, NORTH CAROLINA • 9191732-8181 <br />