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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: December 12, 2017 <br /> Action Agenda <br /> Item No. 4-e <br /> SUBJECT: Presentation of Draft Comprehensive Annual Financial Report for FYE <br /> 6/30/2017 <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. Draft PowerPoint Presentation- <br /> Mauldin & Jenkins <br /> UNDER SEPARATE COVER <br /> 3. Draft Comprehensive Annual <br /> Financial Report, June 30, 2017— <br /> ONLY AVAILABLE <br /> ELECTRONICALLY AT: <br /> http://www.co.orande.nc.us/departme <br /> nts/finance and administrative servi <br /> ces.php <br /> 4. Popular Annual Financial Report, <br /> June 30, 2017— TO BE PROVIDED <br /> AT THE MEETING <br /> PURPOSE: To receive the Draft Comprehensive Annual Financial Report (CAFR) for the fiscal <br /> year ended June 30, 2017. <br /> BACKGROUND: The CAFR reports on all financial activity of the County for the fiscal year July <br /> 1, 2016 through June 30, 2017. 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 Certificate <br /> of Achievement for Excellence in Financial Reporting. The financial report for the Orange <br /> County SportsPlex, as required under the management contract, is included in the County's <br /> CAFR. <br /> The County received an unmodified (clean) audit opinion on the financial statements received <br /> from the audit. The financial audit results indicate compliance with County financial policies. The <br /> Chief Financial Officer and representatives of Mauldin and Jenkins will cover highlights of the <br /> report and answer any questions. <br />