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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: March 21, 2017 <br /> Action Agenda <br /> Item No. 4-a <br /> SUBJECT: Presentation of Comprehensive Annual Financial Report for FYE 6/30/2016 <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. GFOA Award for Excellence in Gary Donaldson, (919) 245-2453 <br /> Financial Reporting Paul Laughton, (919) 245-2152 <br /> 2. PowerPoint Presentation-Mauldin & <br /> Jenkins <br /> UNDER SEPARATE COVER <br /> Hard Copies to be Provided at the <br /> Meeting -Available Electronically <br /> Prior to the Meeting at : <br /> http://www.co.oranqe.nc.us/departme <br /> nts/finance and administrative servi <br /> ces.php <br /> 3. Comprehensive Annual Financial <br /> Report, June 30, 2016 <br /> 4. Popular Annual Financial Report, <br /> June 30, 2016 <br /> PURPOSE: To receive the Comprehensive Annual Financial Report (CAFR) for the fiscal year <br /> ended June 30, 2016. <br /> BACKGROUND: The CAFR reports on all financial activity of the County for the fiscal year July <br /> 1, 2015 through June 30, 2016. Mauldin and Jenkins, a firm of Certified Public Accountants, <br /> audited the financial statements. The financial statements and audit are required by Chapter <br /> 159-34 of the North Carolina General Statutes. The County prepares a Comprehensive Annual <br /> Financial Report (CAFR) that meets the standards set by the Government Finance Officers <br /> Association (GFOA). The CAFR is submitted to the GFOA in order to be awarded the <br /> Certificate of Achievement for Excellence in Financial Reporting. The financial report for the <br /> Orange County SportsPlex, as required under the management contract, is included in the <br /> County's CAFR. <br /> The audit results for the fiscal year ended June 30, 2016 indicate a strong financial position for <br /> Orange County. The County received an unmodified (clean) audit opinion on the financial <br /> statements received from the audit. The Chief Financial Officer and representatives of Mauldin <br /> and Jenkins will cover highlights of the report and answer any questions. <br />