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• , RECEIVED U~,S <br />Cherry, Bekaert & Holland, L.L.P. ~~"~ ~ ~ 2006. <br />The Firm of Choice. a..i7CP,L GOVERNMENT www.cbh.com <br />2850 Village Drive -Suite 201 <br />Fayetteville, North Carolina 28304 <br />phone 910.483.7131 <br />fax 910.323.0672 <br />April 3, 2006 <br />Mr. Kenneth T. Chavious, Finance Director <br />Orange County <br />208 South Cameron Street <br />Hillsborough, North Carolina 27278 <br />Dear Ken: <br />This letter of arrangement between Orange County, North Carolina (the County) and Cherry, <br />Bekaert & Holland, L.L.P. sets forth the nature and scope of the services we will provide, the <br />County's required involvement and assistance in support of our services, the related fee <br />arrangements ar~d other terms and conditions designed to assure that our professional services are <br />performed to achieve the mutually agreed upon objectives of the County. <br />SUMMARY OF SERVICES <br />We will audit the financial statements of the governmental activities, the business-type activities, <br />each major fund, and the aggregate remaining fund information, which collectively comprise the <br />basic financial statements of the County as of and for the year ended June 30, 2006. <br />We will also audit the schedules of property taxes receivable for the Towns of Hillsborough, Chapel <br />Hill, and Carrboro as of June 30, 2006, and the related schedules of 2005 tax levy and collections <br />for the years then ended. <br />Our audit will be conducted in accordance with auditing standards generally accepted in the United <br />States of America; Government Auditing Standards, issued by the Comptroller General of the United <br />States; the Single Audit Act Amendments of 1996; the provisions of OMB Circular A-133; and the <br />State Single Audit Implementation Act, -and will include tests of accounting records, a determination <br />of major programs in accordance with Circular A-133, the State Single Audit Implementation Act, <br />8iid ether procedures as deemed necessary to enable us to express such an opinion and to render <br />the required reports. The objective of an audit is the expression of our opinion concerning whether <br />the basic financial statements are fairly presented, in all material respects, in conformity with <br />accounting principles generally accepted in the United States of America. <br />In connection with our audit, we will report on the fairness of presentation of the schedules of federal <br />and State financial assistance in relation to the financial statements taken as a whole. We will also <br />perform tests of compliance as required by GovemmentAuditing Standards, the provisions of OMB <br />CircularA-133, the Audit Manual forLoca/ Governmental Units and Recipients of Grant Funds, and <br />the Audit Manual for Governmental Auditors in North Carolina, and issue our reports thereon. <br />If any of our opinions resulting from the procedures described above are other than unqualified, we <br />will fully discuss the reasons with you in advance. <br />BAKER TILLY <br />INTERNATIONAL <br />