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' — <br /> ���/ <br /> ORANGE COUNTY . <br /> BOARD OF COMMISSIONERS ACTION AGENDA <br /> ACTION AGENDA ITEM ABSTRACT ITEM NO. <br /> MEETING DATE `. 'o.' ~x <br /> SUBJECT: 1084-85 <br /> ------------ <br /> .� <br /> ! DEPARTMENT: Financle I PUBLIC HEARING: YES x NO <br /> _____ <br /> Wallace H <br /> ATTACHMENT(S): INFORMATION CONTACT; Harding Q <br /> ext; 896 <br /> AUDIT ONTRACT PHONE NUMBERS:' HILLSBOROUGH <br /> HILLSBOROUGH - 782-9367 <br /> CHAPEL HILL - 967-9251 <br /> MEBANE - 227-2031 <br /> DURHAM - 688-7331 <br /> PURPOSE: To qmtract with the accounting firm of Touche Ross & Company. <br /> NEED: N. C. General Statute 159-34 requires each local government to have <br /> its accounts audited annually by an independent auditor' Attachment P <br /> of the Federal Office of Management and Budget Circular A-102 requires <br /> an organization-wide single audit of all federal grants. <br /> IMPACT: The audit fee is $33,500 or 7.0% above last year. The fee for the <br /> single eudit will be included in our charge back to the grants through <br /> our fndrect cost p|an. Performance of this audit will eliminate the <br /> need � <br /> ne= u[�rner agencies to audit Orange County. The increase in the <br /> single audit fee was a result of much more detailed work required to <br /> be done to meet compliance standards than anticipated. <br /> RECOMMENDATION(S): <br /> 4pproval. <br />