Agenda - 02-16-1982 - Laserfiche WebLink

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Exhibit "B" k CONTRACT TO AUDIT ACCOUNTS of Orange County, North Carolina Period from July 1, 1981 to June 30, 1982 Item 7. (Special Provisions) 1. The Auditor shall conduct an examination of the consolidated property tax levy and collection system, as it relates to the towns of Carrboro, Chapel Hill and Hillsborough, in accordance with generally accepted auditing stan- dards and shall, upon completion of such examination, render to the exter- nal auditors of the subject units separate reports in accordance with the • provisions of Statement on Auditing Standards No. 14 "Special Reports". Such reports shall contain an expression of opinion regarding the fair pre- sentation of information with respect to both current and prior years' prop- erty tax collections and receivables for the towns of Carrboro, Chapel Hill and Hillsborough, as contained in the annual audited financial statements of the respective units for the fiscal year ending June 30, 1982. 2. The Auditor shall perform a compliance audit of the revenue sharing entitle- ment for the fiscal year ending June 30, 1982, The compliance audit shall be conducted in accordance with the "Audit Guide and Standards for Revenue Sharing and Antirecession Fiscal Assistance Recipients," issued by the Office of Revenue Sharing, U.S. Department of the Treasury. The Auditor shall, after completing the compliance audit, submit to Orange County a written report which shall contain an expression of opinion regarding findings with respect to compliance with the Revenue Sharing Act and regulations for the' fiscal year ending June 30, 1982. In this regard, the Auditor shall per- form the financial audit required by the Revenue Sharing Act, as amended, and Subpart F of the regulations.