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10. The contract should be executed and submitted in triplic-atc to the 5r;rc'ar of tltc Loco! Goycrnr lent Cnmr,ti"i :>
<br />North Salisban Strect, Raleigh, forth Carolina 603 -13Sh.
<br />I I. Upon approval, the original contract will be returned to the Goyc7'=,cntal Unit, a copy will bc forwarded to the .4ur'.itor,
<br />and a copy retained b% the Secretan •of the Local Government Commission. The audit should not be started before the
<br />contract is approved.
<br />12. This contract contemplates on unqualified opinion being rendered. Atni limitations or restrictions in scope which u nu]d
<br />lead to a qualification should be fully explained in an attachme,tt to this contract. Contracts v,ith such limitations will
<br />not be approved unless satisfactory c.,Tlanation is made,
<br />13. If an approved contract needs to be varied or changed, the change must be reduced to writing, signed by both parties,
<br />and submitted to the Secretary of the Local Government Commission for appro. al. No change shall be effectil c unless
<br />approved by the Secretary of the Local Government Commission., the Governing Board, and the Auditor.
<br />1.1. A separate contract should not be made for each division to be audited or report to be submitted. The scope of the aiddit
<br />and the fee for the audit should be clearly stated. Stated fees include any cost the Auditor max i-kir from work gape-
<br />or peer reviews or an% other quality assurance program required by third parties (federal and State agencies or other
<br />organizations).
<br />15. Three copies (one copy for units not having a single audit) of the report of audit and an other.yrittcn report b} the Auditor
<br />shall be filed ,with the Secretary of the Local Government Commission when (or prior to) submitting the invoice for tl c
<br />sen•ices rendered no later than four months after the close of the fiscal year (for fiscal years ending June 30 this woulc'.
<br />be October 31). The report of audit, as filed with the Secretan -)f the Local Government Commission, becomes a matter
<br />of public record for inspection and review in the offices of the S,crctan' bN �.,: Y interested parties. These reports are used
<br />in the preparation of Official Statements for debt offerings as m-cl! as by tn;: iicipal bond rating sen•ices.
<br />16. There arc no special proyisiorns except:
<br />See engagement letter attached
<br />Ii. Whenever the Auditor uses an engagement letter with the client, Item 16 sho::id be completed by referencing ti , enrage-
<br />men, letter and attaching a copy of the engagement letter to the contract to in,o- porate the engagement lettc: :r;tc ti:"
<br />contract.: case of conflict between the terms of the er._agcmcnt letter and the terms of this contract, the term of thi,
<br />contract will control. Engagement letter terms are deemed to be void unless the conflict.-,,, terms of this contract arc .c ific�ll.
<br />dcl^_t,2d in Itcm 21 c: this contract.
<br />1S. A Governmentai Unit not haling a single audit on federal and State funds would list Item - in Item 21 of the
<br />as being a deleted provision.. An cx lariat, r_must be gi•.en in Item °_1 for ar,y GO\ernmcntal Unit not receising a sin2ic
<br />audit on federal and Statc funds (e.g., a single audit is not required under the Federal and State Single Audit .Acts al-'d
<br />is not bcinb performed).
<br />19. If this audit engagement is subject to the standards for audit as defined in the Government .Auditing Standards, issued by
<br />the Comptroller General of nie United States, then the Auditor .yarrants by accepting this engagement that hc`shc ,vill
<br />meet the requirements for an external quality control review specified in the Go,errtiment Auditing Standards. Copics o:
<br />array -ritten communications that are a result of an external quality control review ,gill be made avai'.Ible to the Sccrctz:-"
<br />of the Local Government Commission upon his request.
<br />20. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be enforccablc
<br />unlc;s entered into in accordance -with the -procedure sc., out herein and approved by the 5ecrctary of the Local Go crr.-
<br />mcnt Commission.
<br />1. All of the above paragraphs are understood and shall apply to this agreement, except the fullosying
<br />numbered paragraphs
<br />shall be deleted: (See Items 17 and 16.)
<br />Deloitte & Touche
<br />Audi- Firm
<br />B, Re:: Price, Partner
<br />(Please t) [ yA or prim(
<br />(SiFnaturej
<br />Approved by the Secrctnn• of the Local Cc".-crnment
<br />Commission as provided in Article 3, Chapter 159 of the
<br />General Stat.:tcs or Article 31, fart 3, Chapter 115C of
<br />the General Statutes.
<br />FM
<br />C�-ange County, North Carolina
<br />co'vrn:new.! Ulm
<br />rope or print name and a ;lc)
<br />(Signature' of M4vor or Chwri,erron of governing Gard;
<br />This instrument has been preauditcd in the manner re-
<br />quired by The Local Government Budget and Fiscal Con-
<br />trol Act or by The School Budget and Fiscal Control Act.
<br />For the Secretare. Local Co,enement CommWion Covernmen:al Unl: Finale ofhotr
<br />(Si —
<br />• (StFnorun:
<br />I�atc • - ° - -- 7
<br />(Plraee npv or .. - ::,:,
<br />5
<br />
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