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Y <br />a <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 15, 1990 <br />SUBJECT: 1989 -90 Audit Contract <br />DEPARTMENT: Finance <br />ATTACHMENT(S): <br />Action Agenda <br />Item No. VGA <br />PUBLIC HEARING YES: NO: X <br />INFORMATION CONTACT: Ken Chavious <br />Ext 490 <br />Contract 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, 1990. <br />1 14 <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. Late in 1989 Touche Ross merged with firm <br />of Deloitte, Haskins, and Sells, another big eight firm, to <br />form the firm of Deloitte & Touche. Both firms have had <br />excellent reputations in the past and we expect that the <br />quality of service provided to the county will not be <br />affected. The fees are also competitive with other firms which <br />perform audits of governments such as Orange County. The <br />quality of work can be attested by the fact that for seven <br />consecutive years the County's Annual Financial Statements <br />have received the highest awards possible. <br />Deloitte & Touche's proposed contract for the Comprehensive <br />Annual Financial Report and Certification of tax levy is <br />$28,600, an increase of $1,350 from 1988 -89. The fee for <br />performance of the single audit of grant funds is $12,900, an <br />increase of $600 from 1988 -89. <br />RECOMMENDATION(S): Approve contract for fiscal year 1989 -90 and authorize the <br />Chairman to sign. <br />