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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 2, 1997 <br /> Action Agenda <br /> Item No. q_b <br /> SUBJECT: 1996-97 Audit Proposal and Contract <br /> DEPARTMENT: Finance PUBLIC HEARING: (Y/N) <br /> BUDGET AMENDMENT: (Y/1) <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Contract Ken Chavious Ext. 2453 <br /> Engagement Letter <br /> TELEPHONE NUMBERS: <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Durham 688-7331 <br /> Mebane 227-2031 <br /> PURPOSE: To review the audit proposal process and consider awarding a contract for the <br /> provision of audit services for the fiscal year ending June 30, 1997. <br /> BACKGROUND: In early March, 1997, an Audit Committee was formed for the purpose of <br /> assisting the Finance Director in matters related to the selection of the County's auditors as well as <br /> reviewing other audit related matters throughout the annual audit process. This committee consists <br /> of the Finance Director,the Director of Purchasing and Central Services,the Director of Revenue, <br /> a Budget Analyst and an Assistant County Manager. The initial task of the committee was to <br /> complete a request for proposal (RFP)process for audit services. While County staff are pleased <br /> with the current auditors, Deloitte& Touche, LLP, it is a common and recommended practice in <br /> local government financial circles that a governmental unit periodically seek proposals for these <br /> services. This process is not necessarily done to make a change, but to ensure that the level and <br /> quality of services received by the unit is adequate when compared to what others firms may have <br /> to offer. <br /> A RFP was drafted,reviewed and approved by the Committee in early April, 1997. The RFP <br /> requested responses to various items specifically related to performing audit services for the <br /> County. The RFP was sent to the top seven firms, located in this area of the state, most noted for <br /> the performance of governmental audits. The committee received four responses to the RFP with <br /> fee quotes ranging from$37,500 to $56,300. All four firms responding had experience in auditing <br /> governmental units. The committee chose to interview all four firms. <br /> Each firm was requested to bring the individuals proposed to work on the County audit, since the <br /> ability to interact favorably with County staff is a critical consideration in any audit firm selected. <br /> Other criteria for evaluation included,but was not limited to: <br />