Agenda - 05-15-1990 - Laserfiche WebLink

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10. The contract should be executed and submitted in triplicate to the Secretary of the Local Government Commission, 325 North Salisbury Street, Raleigh. North Carolina 27603.1388. 11. Upon approval, the original contract will be returned to the Governmental Unit, a copy will be forwarded to the Auditor, and a copy retained by the Secretary of the Local Government Commission. The audit should not be started before the contract is approved. 12. This contract contemplates an unqualified opinion being rendered. Any limitations or i esisictions in scope !Which !mould lmd,to a qualification should be jolly explained in an attachment to this contract. Contracts with such limitations will not be approved unless satisfactory explanation is made. 13. If an approved contract needs to be varied or changed, the change must be reduced to writing, signed by both parties, and submitted to the Secretary of the Local Government Commission for approval. No change shall be effective. unless approved by the Secretary of the Local Government Commission, the Governing Board, and the Auditor. 14. A separate contract should not be made for each division to be audited or report to be submitted. The mope of the audit and the fee for the audit should be clearly stated. Stated fees include any cost the Auditor may incur from work paper or pees reviews or any other quality 'assurance program required by third parties (federal and State agencies or other organizations). 15. Three copies (one copy for units not having a single audit) of the report of audit and any other written report by the Auditor shall be filed with the Secretary of the Local Government Commission when (or prior to) submitting the invoice for the services rendered no later than four months after the close of the fiscal year (for fiscal years ending June 30 this would be October 31). The report of audit, as filed with the Secretary of the Local Government Commission, becomes a matter of public record for Inspection and review in the offices of the Secretary by any interested parties. These reports are used In the preparation of Official Statements for debt offerings as well as by municipal bond rating services. 16. There are no special provisions except; See engagement letter attached. 17. Whenever the Auditor uses an engagement letter with the client, Item 16 should be completed by referencing the engage- ment letter and attaching a copy of the engagement letter to the contract to incorporate the engagement letter into the contract. In case of conflict between the terms of the engagement letter and the terms of this contract, the terms of this contract will control. Engagement letter terms am deemed to be void unless the conflicting terms of this contract are specifically deleted in Item 21 of !this contract. 18. A Governmental Unit not having a single audit on federal and State funds would list Item 7 in Item 21 of the contract as being a deleted provision. An ezolanation must be given in Item 21 for any Governmental Unit not receiving a single audit on federal and State funds (e.g., a single audit is not required under the Federal and State Singie Audit Acts and is not being performed). 19. If this audit engagement is subject to the standards for audit as defined in the Government Auditing Standards, issued by the Comptroller General of the United States, then the Auditor warrants by accepting this engagement that he/she will meet the requirements for an external quality control review specified in the Govarnment Auditial Standards. Copies of any written communications that are a result of an external quality control review will be made available W the Secretary of the Local Government Commission upon his request. 20. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be enforceable unless entered Into In accordance with the procedure set out herein and approved by the Secretary of the Local Govern- ment Commission. 21. All of the above paragraphs are understood and shall apply to this agreement, except the following numbered paragraphs shall be deleted: (Sex Iteras 17 and 18.) Deloitte & Touche Aubar By Rex Price, partner (P it- ar peiot) Approved by the Secretary of the LAW Government Commission as provided in Article 3, Chapter 159 of the General Statutes or Article 31, Part 3, Chapter 115C of the General Statutes.. For the Secretary, -1 Mal C.~nmmt CdMM* ion Mpatme) Date Oran a County caevamestta! Ualt By Moses Care Jr. Chair (Please type ar petal awe and !Lie) (mow) This instrument has been preaudited in the manner re- quired by the Local Government Budget and Furl Con- trol Act or by The School Budget and Fiscal Control Act. Gorrameatai Unit Fiaaace Officer 0I9na type a PON) (Sismftm) Date