Agenda - 03-02-1981 - Laserfiche WebLink

Browse Search

; AGENDA ATTACHEMTENT 6 L&C (Rev.$-p) CONTRACT TO AUDIT ACCOUNTS .. of ORANGE COUNTY, NORTH CAROLINA (Governmental Unit) This ze cement.made this 24th day of November ,080 ,by and between PF.4T, td 4RWT r K 1.17Tr t; L& Auditor 1100 Wachovia Building, Greensboro, N. C. 27401 ,hereinafter referred to Andres' the Auditor.and Frinrrl of ("min ]CAPra of • 7.•S- • ' • - • +t a •hereinafter referred Governing Body Governmenue Unit to as the Governmental Unit,as follows: 1. The Auditor shall examine the balance sheets,statements of revenue, expenditures and fund balances of all funds and/or divisions of the Govanmmtal Unit for the period beginning .Tu l v 1 .19 80 ,and ending .TUILP 30 .19.A1 except: NO EXCEPTIONS ,'.. The Auditor shall conduct his examination in accordance with generally cectpted auditing standards.The examination shall Include such tests of the acourting records and such other auditing procedures as are considered by the Auditor to be necessary in the circumstances,except as follows:lSx Meta 4 of Instructions) NO EXCEPTIONS 3. It is agreed that generally accepted auditing standards include a review of the Governmental Unit's system of internal control and accounting as te.;te relates to accountability of funds and adherence to budget and Iaw'requirmnents applicable thereto;that the Auditor will make a written report, which Tay or stray not be a part of the written report of audit,to the Governing Body setting forth his findings,together with his recommendations for im- p-evcnent.The Auditor,shall file a army of said report,with the Secretary of the Local Government Commission. L. The Auditor shall,after completing his examination,submit to the Governing body a written report of audit,This report shall contain an expres- sion or opinion that the financial statements ere fairly stated.an opinion qualified as to certain funds or items in the financial statements, or a di,claar of opinion and the mason therefor.The Auditor shall furnish 20 copies of the report of audit to the Governing Body as soon as m rev.Izable after the close of the accounting period.The Auditor shall file a copy of said report of audit with the See•:chary of the Local Government Came =aioa, 5. it is agreed that time is of the essence in this contract If all audits are not performed and the report of audit subrrtittec October 31 ,19 80 .then this contract shall be void and of no effect but if raid condition is complid with,this ecntrace shall be In full force and effect, G. Should circumstances disclosed by the audit call for a more detailed investigation by the Auditor than necessary under ordinary circurns:anes,the Auditor shall inform the Governing Body 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 may be varied or changed to include the increased time end compensation as may be a;.,ced upon by the Governing Body and the Auditor 7, There Are no special provisions.except: See Exhibit "A" attached B. In consideration of the satisfactory performan:e of the provisions of this agreement.the Governmental Unit shall pay to the Auditor,iron np- proval by the Secretary of the Loral Government Commission,a fee of: See Exhibit "B" attached. 9. There are no other a freemenu between the parties hereto end no other agreements relative hereto shall be enforceable unless entered into in actor- dence with the procedure set out herein and approved by the Secretary of the Local Government Commission. PEAT. M RWICK. MITCHELL & CO. •rarer:' k ' Auditor Govomina Body 'U Approved by the Secretary of the Local Government Commis- This instrument has been preaudited in the meaner required by sine as provided in Article 3,Chapter 159 of the General Statutes the Local Government Budget end Fiscal Control Act or b• or Article ID-A,Part III,Chapter 115 of the General Statutes, School Budget and Fiscal Control Act. For the Secretary - Franz Orli= D°_te Date Fite in Triplicate(See Instructions on reverse side)