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ORANGE COUNTY <br /> BOARD OF COMMISSIONERS 1 <br /> Action Agenda <br /> ACTION AGENDA ITEM ABSTRACT Item No., )1-i- <br /> Meeting Date: June 28, 1989 <br /> SUBJECT: 1988-89 Audit Contract <br /> DEPARTMENT: Finance PUBLIC HEARING YES: NO: X <br /> ATTACHMENT(S) : INFORMATION CONTACT: Ken Chavious <br /> Contract Ext 490 <br /> TELEPHONE NUMBER- <br /> Hillsborough - 732-8181 <br /> Chapel Hill - 968-4501 <br /> Mebane - 227-2031 <br /> Durham - 688-7331 <br /> PURPOSE: To consider awarding a contract to develop the audit for the <br /> fiscal year ending June 30, 1989. <br /> BACKGROUND: Local governments are required to have an annual audit of <br /> their financial records by an independent auditor. Since 1983, <br /> the firm of Touche Ross and Company has performed the audit <br /> for Orange County. Their record over the period has been <br /> excellent. Also, its fees have been competitive with other <br /> firms which perform audits of governments such as Orange <br /> County. The quality of work can be attested by the fact that <br /> for six consecutive years the audits have received the highest <br /> awards possible. <br /> Touche Ross' proposed contract for the Comprehensive Annual <br /> • Financial Report and Certification of tax levy is $27,250, an <br /> increase .of $1,500 from 1987-88. The fee for performance of <br /> the single audit of grant funds is $12,250, an increase of <br /> $400 from 1987-88. <br /> RECOMMENDATIONIS) : <br /> Approve contract for fiscal year 1988-89 and authorize the <br /> Chairman to sign. <br />