Orange County NC Website
11. The Auditor shall file with the Local Government Commission two copies of the report of audit, including one copy of the <br /> federal Data Collection Form, if a federal single audit is conducted. Two copies of the report of audit should be submitted if an <br /> audit is required to be performed only under the requirements of the State Single Audit Implementation Act or a financial audit is <br /> required to be performed in accordance with Government Auditing Standards. Otherwise,one copy shall be submitted.Copies of <br /> the report shall be filed with the Local Government Commission when (or prior to) submitting the invoice for the services <br /> rendered. All copies of the report submitted must be bound. The report of audit, as filed with the Secretary of the Local <br /> Government Commission, becomes a matter of public record for inspection and review in the offices of the Secretary by any <br /> interested parties.Any subsequent revisions to these reports must be sent to the Secretary of the Local Government Commission. <br /> These audited financial statements are used in the preparation of Official Statements for debt offerings,by municipal bond rating <br /> services,and to fulfill secondary market disclosure requirements of the Securities and Exchange Commission. <br /> 12. Should circumstances disclosed by the audit call for a more detailed investigation by the Auditor than necessary under ordinary <br /> circumstances, the Auditor shall inform the Governing Board in writing of the need for such additional investigation and the <br /> additional compensation required therefor. Upon approval by the Secretary of the Local Government Commission,this agreement <br /> may be varied or changed to include the increased time and/or compensation as may be agreed upon by the Governing Board and <br /> the Auditor. <br /> 13. If an approved contract needs to be varied or changed for any reason, the change must be reduced to writing, signed by both <br /> parties, preaudited if necessary, and submitted to the Secretary of the Local Government Commission for approval.No change <br /> shall be effective unless approved by the Secretary of the Local Government Commission,the Governing Board,and the Auditor. <br /> 14. Wbenever the Auditor uses an engagement letter with the client, Item 15 may be completed by referencing the engagement letter <br /> and attaching a copy of the engagement letter to the contract to incorporate the engagement letter into the contract. In case of <br /> conflict between the terms of the engagement letter and the terms of this contract, the terms of this contract will control. <br /> Engagement letter terms are deemed to be void unless the conflicting terms of this contract are specifically deleted in Item 21 of <br /> this contract.Engagement letters containing indemnification clauses will not be approved by the Local Government Commission. <br /> 15. There are no special provisions except: See attached engagement letter, <br /> 16. A separate contract should not be made for each division to be audited or report to be submitted. A separate contract must be <br /> executed for each component unit which is a local government and for which a separate audit report is issued. <br /> 17. The contract should be executed and submitted in triplicate to the Secretary of the Local Government Commission, 325 North <br /> Salisbury Street,Raleigh,North Carolina 27603-f 385. <br /> 18. Upon approval, the original contract will be returned to the Governmental Unit, a copy will be forwarded to the Auditor, and a <br /> copy retained by the Secretary of the Local Government Commission.The audit should not be started before the contract is <br /> approved. <br /> 19. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be enforceable unless <br /> entered into in accordance with the procedure set out herein and approved by the Secretary of the Local Government <br /> Commission. <br /> 20. If this audit engagement is not subject to Government Auditing Standards, then Item 5 shall be listed as a deleted provision in <br /> Item 21. An explanation must be given for deleting this provision. <br /> 21. All of the above paragraphs are understood and shall apply to this agreement,except the following numbered paragraphs shall be <br /> deleted:(See Item 14.) <br /> LO u1E C. Hi1►JSB 66po <br /> By Del ni t-t- - & Tot>rhe T T P By Orange Cotrity <br /> (Please type or print name) (Please ty <br /> 7 <br /> r n name and till <br /> (Sign ure of an orized audit firm represet tive) (Signature of M /or h i rs n of ve in o d) <br /> Date � ' �� Date <br /> Approved by the Secretary of the Local Government By <br /> Commission as provided in Article 3,Chapter 159 of the Chairperson of Audit Committee(Please type or print name) <br /> General Statutes or Article 3l,Part 3,Chapter I I SC of the <br /> General Statutes. <br /> e,A w'M: WoLLOM A N (Signature of Audit Committee Chairperson) <br /> Fo e e oca Government Commission Date <br /> (If unit does not have an audit committee,this section should be <br /> Ilig�ttQ) marked"N/A.") <br /> Date v l/ Q <br /> This instrument has been preaudited in the manner required by <br /> The Local Government Budget and Fiscal Control Act or by the <br /> School Budget and Fiscal Control Act. <br /> Governmental Unit Finance Officer(Please type or print name) <br /> ' . <br /> 7.e, � <br /> (Signature) <br /> Date Z`��'� <br /> (Preaudit Certificate must be dated.) <br />