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<br /> LCC„inf lgev,11-at) CONTRACT TO AUDIT ACCOUNTS
<br /> of_Orange County, North Carolina
<br /> tGovenuaytW Una1
<br /> 30th December 1981 ,by,t,dbetweenpeat,Marwi uk`Mitchell & Co
<br /> This agreement,made thls —...day or. (PIL'{&Co.)
<br /> 1100 Wachovia Building, Greensboro, N.C. 27401 _
<br /> hereinafter referred to as
<br /> Andres
<br /> the Auditor,and Board Of Count Comunission•r of Oranga County. North Car Q1 i na ,,hereinafter referred
<br /> Governmental Unit
<br /> (prernma Body
<br /> to as the Governmental Unit,as follows:
<br /> I.The Auditor shall examlae the balance sheets,statements of revenr e.expenditures and fund balances of all funds and/or divisions of the
<br /> 3uly 1 June 30 ,l9 82
<br /> Governmental Unit for the period beginning_______
<br /> July ,and ending_
<br /> except: NO EXCEPTIONS
<br /> 2,The Auditor shall conduct his examination and render his report in accordance with generally accepted
<br /> auditing standards,The examination shall
<br /> Include such tests of the accounting records and such other auditing Procedures
<br /> as art considered by the Auditor to be necessary in the eircuntstanem,ex-
<br /> cept U follows:(See Item•of Insuuctloa) NO EXCEPTIONS
<br /> 3. It is agreed that generally accepted auditing standards Include•rem*of the Governmental Unit's system of internal control and accounting as
<br /> same relates to accountablllty of funds and adherence to budget and law requlrecnee't*setting applicable thereto;that
<br /> ,together Auditor to his will recommendations make writen report.rt.
<br /> . which may or MAY nm be a part of the written report of audit,to the Governing Body
<br /> Im-
<br /> provement,The Auditor shall file a copy of said report with the Secretary of the Local Government Commissionn,
<br /> 4 The Auditor shall,after completing his examination,submit to the Governiog dyya written ig principles, audit,
<br /> udl�tart'report shallia include,e,at
<br /> financial statements and aotd thereto prepared in accordance with gmrraly'emoted tee by the
<br /> diem or required for full dlaclrnme under the law and the auditor's opinion on the material presented.The Auditor shall furnish 2 ,copies of
<br /> the report of audit to the Governing Body as soon as practical after the close of the accounting period-The Auditor shall file•copy of said report of audit
<br /> lit
<br /> with the Secretary of the Local Goverttcncot Commission.
<br /> 5. It Is agreed thin time is of the essence In this contract, II all audio are not performed and the report of audit submitted by
<br /> October 31 ,19 82 ,then this contract shall be void and of no effect,but if said condition Is complied with,this contract shall be
<br /> in full force and effect,
<br /> b,Should dreumstances disclosed by the audit call for a more detailed Investigation by the Auditor than necessary under ordinary circurnstanem,the
<br /> Auditor shall Inform the Governing Body in writing of the need for such additional investlgulon and the additional compensation required therefor-Upon
<br /> approval by the Secretary of the Local Government Commission,this averment may be varied or chanard to Include the increased time and compensation
<br /> it may be agreed upon by the Governing Body and the Auditor. See Exhibit "A” attached
<br /> 7. There are no special provisions,except: See Exhibit "8" attached
<br /> 8. la consideration of the satisfactory performance of the provisions of this agreement.the Governmental Unit shall pay to the Auditor.upon ap-
<br /> proval by the Secretary of the Local Government Commission,a fee of: See Exhibit "C" attached
<br /> 9. There are no other agreements between the partedib her Secretary d no of the Local averments relative
<br /> rel Live hereto shall labe enforceable unless entered into In accor-
<br /> dance with the procedure set out herein and approved Y
<br /> PEAT, MARWICK, MITCHELL & CO. ORANGE COUNTY, NORTH CAROLINA __
<br /> Ge :mina Body
<br /> - Andtta
<br /> tS ) alt • ,� l is By ��
<br /> By
<br /> Approved by the Secretary of the Local Government Commis- This Instrument has been preaudited In the manner required by
<br /> the Local Government Budget and Fiscal Control Act or by the
<br /> or as provided Pin 3,Article C pt Chapter I15Cr 1 the eneraneral utes School Budget and Fiscal Control Act
<br /> or Article 31,Pan 3,Chapter I ISC of the General Statute,
<br /> ,
<br /> Flans Mery
<br /> For the Soc Burr
<br /> Due ,
<br /> �
<br /> Date , .----
<br /> File In Triplicate(Sex Instruaians on reverse side)
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