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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: December 11, 2018 <br /> Action Agenda <br /> Item No. 4-d <br /> SUBJECT: Presentation of Comprehensive Annual Financial Report for FYE 6/30/2018 <br /> and Approval of Audit Contract Extension <br /> DEPARTMENT: Finance and Administrative 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 - FY 2017-18 <br /> Financial Review <br /> UNDER SEPARATE COVER <br /> 3. Comprehensive Annual Financial <br /> Report, June 30, 2018— Hard Copy <br /> To Be Provided at the Meeting— <br /> CURRENTLYAVAILABLE <br /> EL ECTRONI CA L L Y A T.- <br /> http://www.co.orange.nc.us/732/Finan <br /> cial-Audit <br /> 4. PowerPoint Presentation-Mauldin & <br /> Jenkins— To Be Provided at the <br /> Meeting <br /> PURPOSE: To receive the Comprehensive Annual Financial Report (CAFR) for the fiscal year <br /> ended June 30, 2018 and to approve an extension to the audit contract for Mauldin & Jenkins, <br /> PLLC. <br /> BACKGROUND: The CAFR reports on all financial activity of the County for the fiscal year July <br /> 1, 2017 through June 30, 2018. Mauldin and Jenkins, a firm of Certified Public Accountants, <br /> audited the financial statements. The financial statements, audit and contract extension are <br /> required by Chapter 159-34 of the North Carolina General Statutes. The County prepares a <br /> Comprehensive Annual Financial Report (CAFR) that meets the standards set by the <br /> Government Finance Officers Association (GFOA). The CAFR is submitted to the GFOA in <br /> order to be awarded the Certificate of Achievement for Excellence in Financial Reporting. The <br /> financial report for the Orange County SportsPlex, as required under the management contract, <br /> is included in the County's 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 />