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MAY 14
<br /> 2002
<br /> LGC-205(1(cv.1/1)2002) CONTRACT TO AUDIT ACCOUNTS
<br /> y- '? Bile itl'I'rlplicale. L G C
<br /> of Orange County, North Carolina
<br /> s 'Y` Guvcmnlcntal Unit
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<br /> _ �' Olt this 25th Jay of March 2002 ,S,h2LL;L, RPlraPrt unhand, LLP
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<br /> Auditor
<br /> P.O. Drawer 47, Fayetteville, NC 28302
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<br /> -- Mailing Address
<br /> ANK
<br /> hereinafter referred to as
<br /> County CommissionersofOrange County hereinafter referred
<br /> 1 Ilia Auditor,and
<br /> ROM (iuvenaag Hoiud (iavenulu:nlal(lair
<br /> to as the l iuvermulental l htil,agree as li)Iluws:
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<br /> r 1. 'I he Auditor shall audit all statements and disclosures required by generally accepted accounting principles and additional
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<br /> 1equired legal statelllellts and disclosures of all lUads andlor dIVISIWIS Of the GOVCrI1lnCmtll UUII for the pentad beginning
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<br /> -__July 1 ,_24D_l_.and ending "t'IInP �Q gnn? "1'ha combining,individual fatal,and account
<br /> group linaueial atatcnlcnts and schedules shall M ulbjcdcd Io the au ilid og procedures applied in lho audit ul'the carbine)
<br /> s X' liu:unciai atuelents and an upiniun will be tendered in Illation to dw combined linancirl statements taken as a whole.
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<br /> 2 Al a mininwnl, Ilia Auditor shall conduct his audit and render his report in accordance with generally accepted auditing
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<br /> standards.'file Auditor shall perform the audit in accordance Willi Government Auditine Standards if required by the State Single
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<br /> Audi[ buplementation Act, as codified in G.S. 15J-34. If required by OMB Circular A-133 slut the Stott Single Audit
<br /> �� huplenleltrtiun Act,the auditor shell px:rl'unu a Single Audit.
<br /> I'lus cmltfwcv cuntem phues Ira funpmhyle4l upiniun being rerldL'red If f111a11eUh slaltmlCllls are n01 prepared 111 a:W(dtl1cC Wldl
<br /> generally accepted accounting principles(GAAP),or the statements fail to include all disclosures required by GAAP,explain
<br /> Thal departure from GAAP in the space bcluw:
<br /> q. This cuntruct cunfempi✓tes all lolyu✓liyied upiniun being rendered The audit shall include such teats of the accounting records
<br /> and such other auditing procedures as are considered by die Auditor to be necessary in the circumstances.Any ltmilruiutu or
<br /> r -estrie iatu•in scope which wunld lead to a qualiyicmi✓rt should be.1411Y r+-l'plained in oil altachnient to this cuntruct.Ilia audit
<br /> will have no scope limitations except
<br /> # � 5. II'this audit engagement is subject to the standards for audit as d/lin r ed in Government Auditing Standards,issued by the
<br /> ('Wnptrullcr(ienarrl of the Unite)States,then the Auditor warrants by accepting this engagement that he/she has net the
<br /> rcyuircnneus for a pier review and continuing education as specified in Government Auditjppg Standards.The Auditor agrees lit
<br /> provide u copy of their most recent peer review report to the(iuvemnenlal Unit and the Secretary of the La al Government
<br /> ('uuuuissiWl nriur a the execution of the audit contract. (See ltem 2LL)
<br /> 6. It is agreed that time is of dlc Market in this contract.All audits are to be performed and the report of audit submitted by
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<br /> y October 312002
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<br /> 7. II Is:IgrCCd that gC11Cr:111y aCCCpIL•d aUdlhllg sl:Uldads include review of Ilia Govcrumcntal Unit's system of initrnal control and
<br /> y :eCUllllhllg as saline fC1aICS to accountability Up funds and ad1kcreacc to budget and law feyWfullields appllcabha the 'o;111 the
<br /> r s Auditor will rake a written report,which may or may not b a part of the written report of audit,to the Governing Hoard selling
<br /> hall,his findings,together will'his recumnlendutions for iulprovemenl.That written report must include all matters delinel as
<br /> ..le purtable wnditiuns"in AlJ 325 of the AICPA Proleasional Standards. Auditor shall file a cony of that report with the
<br /> Seel ,..,, .,l',6,•1 'al(iuycrumeut Cutu111iss1U11.
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<br /> x g. All local gover11nC111 and public authority contracts for annual or special audits,bookkeeping of other assistance necessary to
<br /> 011Cpi:lfe IfIC Unit's records fur audit,(111anC pal statement preparation,any finance-related investigations,or any other audit-related
<br /> Ic > wink in Ilia State of North Carolina rcyuirc Ilia approval M'll'e Secretary ul'thc Local Government Commission.Invoices to
<br /> h II nut b n I I b the(iov rmn ntal(hill ntil the invoice has beeun ld a be rosubmitted�hm e 1 1 1 contract billings.)All invoices slw
<br /> Local Govenent Culssion (This also u)WIL4C env nroaers c of the e
<br /> triplicate to the Secretary of the Local(iovernalenl Commission.The original and one copy will be returned to the Auditor.
<br /> Approval is not required oil contracts and invoices four system inlpfuveulenls unit sinlilur services of anon-auditing nature.
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<br /> 9. lit consideration of the satisfactory performance of the provisions of this agreement,the Governmental Unit shall pay to the
<br /> Auditor,upon approval by the Secretary of the Laval Govemnned Conuuissiun,die following fee which includes any cost die
<br /> Auditor may ila ur lives work paper or peer reviews of any other quality assurance program required by third ponies(Ballarat and
<br /> State grantor and oversight agencies or other Orga1127111U11s)as rCgUlfCd under the Federal and Slate Single Audit Acts:
<br /> Year-end bookkeeping assistance-
<br /> N/A
<br /> Audit- $37,500— Financial audit $18 500— 4ing1P ^edit, 1�9GG fnr Parh aAdltional
<br /> g= single audit program $5 s 000
<br /> Preparation of the financial statemeals-
<br /> Ill. Alice completing his audit,the Auditor shall submit to the Governing Board u written report of audit.This report shall i 11cl uJe,at
<br /> least,Ilia(IIIa1c1:lI sI:11a111L•Ills of the gUVCrallicillid unit and Ulf oI Its Cu111pU1c111 Ulllls old rues rI1CfClo prepared 111 a:e'Ulda11CC
<br /> Willi generally accepted uccuunting principles,combining and supplenu it
<br /> infomwtiun requested by the client or required for
<br /> full disclosure under tilt:law,and the Auditor's opiniun W)lilt material prcscnleJ.'lle Auditor shall lumish the required number
<br /> / ul Cup/es of Ilia ratnur oI alldll to(I1L'(;UVCflllllg Wand as soon as pl➢CIeY1 attar Ilia CIUSU of do aaa)unllllg period.
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<br /> 11. The Auditor shall file Willi the Local Oovenunent('unnuission two copies of the report of audit,including one copy of the
<br /> z ? ledcrul Data Cohlcclilo Form,if a t'ederal single audit is condudul. Twit copies of the report of audit should be submittal il'an
<br /> audit is required to be performed only under the requirements of die State Single Audit hilplemeatation Act ur a tinau ial audit is
<br /> sR s reyuircd to be performed in accordance with Government Auditing Standards.Odlerwise,one copy shall be suMnilted.Copies of
<br /> the ration shall be filed with the Local Government Commission when(w prior to)submitting the invoice for the services
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