2002 S Finance - Cherry, Bekaert & Holland

Browse Search

rendered. All copies of the report submitted must be bound. The report of audit, as tiled 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 are used in the preparation of Official Statements for debt offerings,by municipal bond rating services,and to fulfill secondary market disclosure requirements of the Securities and Exchange Commission. 12. Should circumstances disclosed by the audit call for a more detailed investigation by the Auditor than necessary under ordinary circumstances, the Auditor shall infurnt the Governing Board in writing of the need for such additional investigation and the additional compensation required therefor. Upon approval by the Secretary of the Local Government Commission, this agreement n►uy 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. It an approved contract needs to be varied or changed for any reason, the change must be reduced to writing, signed by both ,)allies, ,)reuudited if necessary, and submitted to the Secretary of the Local Government Corrunission for approval. No change AIAI be effective unless unproved by the Secretary of the I oval Government Commission the Governing Board,and the Auditor. 14, Whenever the Auditor uses all engagement letter with the client,Item 15 may be completed by referencing the engagement letter and attaching a copy of the engagement letter to the contract to incorporate the engagement letter into the contract. In cast;of conflict between the terms of the cngugenuont letter and the terms of this contract, the terms of this contract will control. Engagement letter terms are declined to be void unless the coullictnlg terms of this contract are Specifically deleted ill 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: Engagement Letter Attachments A & B 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 government and for which a separate audit report is issued. 17. The contract should be executed and submitted jir Ili rlicatc to the Secretary of the Local Government Commission, 325 North Salisbury Street,Raleigh,North Carolina 27603-1385. I8. Opun approval, the original contract will be returned to the Governmental Unit,u copy will be forwarded to the Auditor,and a copy retained by the Secretary of the Local 6overunent Commission. '['lie audit should not be started before the contract ,aonroved. 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. It this audit engagement is not subject to Government Auditing Stan s,then Item 5 shall be listed as a deleted provision in Item 21. An explanation must be given for deleting this provision. 21. All of the above paragraphs are understood and shall apply to this agreement,except the following numbered paragraphs shall be deleted:(See Item 14.) 22. Will the audited financial statements be prepared in accordance with GASH Statement Nu.34?® YESONO It like audited financial statements are prepared in accordance with GASH Statement Nu.34 the references in Item I to the combining, individual fund, and account group statements shall clean the basic financial statements,n►auageu►eut's discussion and analysis, and required supplementary statements as defiled In GASH Statement Nu. 34. Auditing procedures applicable to uglier supplementary schedules are not changed by the Lnplemeutatiou of GASH Statement Nu.34. By k �Q {(r LD By Cherry, Bekaert & Holland_ LLP rcasctypeorpr' t tnc and njW (Please type or print name) ✓ (Signature of or f governing board) (Signatu of authorized audit firm representative) Date J �l Date By (Chairperson of Audit Con iltee(Please type or print name) Approved by the Secretary of the Local Government Commission as provided in Article 3,Chapter 159 of the " General Statutes or At 31,Pan 3,Chapter 1 I SC of the (Signature of Audit Committee Chairperson) General Statutes. MANGE HOLLOMAN Date For the Secreta Loca , l o nmen ert Con 'scion (If unit dues not have an audit committee,this section should be ry � � nurrked"N/A.") Date 1 IA gn t')2002 This instrument has been preaudited in the manner required by The Local Government Budget and Fiscal Control Act or by the School Budget and Fiscal Control Act. Governmental nit Finance Officer(Please type or print name) (Signature) Date (Preaudit Certificate gUla be dated.)