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DocuSign Envelope ID: FD83399B-C72A-42C4-A531-71667A72DBC7 <br /> LGC-205 CONTRACT TO AUDIT ACCOUNTS Rev. 10/2018 <br /> FEES FOR AUDIT SERVICES <br /> For all non-attest services, the Auditor shall adhere to the independence rules of the AICPA Professional <br /> Code of Conduct and Governmental Auditing Standards (as applicable). Bookkeeping and other non- <br /> attest services necessary to perform the audit shall be included under this contract. However, <br /> bookkeeping assistance shall be limited to the extent that the Auditor is not auditing his or her own work <br /> or making management decisions. The Governmental Unit shall designate an individual with the suitable <br /> skills, knowledge, and/or experience necessary to oversee the services and accept responsibility for the <br /> results of the services. Financial statement preparation assistance shall be deemed a "significant threat" <br /> requiring the Auditor to apply safeguards sufficient to reduce the threat to an acceptable level. The <br /> Auditor shall maintain written documentation of his or her compliance with these standards in the audit <br /> work papers. <br /> Fees may not be included in this contract for work performed on Annual Financial Information Reports <br /> (AFIRs), Form 990s, or other services not associated with audit fees and costs. Such fees may be <br /> included in the engagement letter, but may not be included in this contract or in any invoices requiring <br /> approval of the LGC. See Items 8, 9, and 12 for details on other allowable and excluded fees. <br /> Prior to submission of the completed audited financial report, applicable compliance reports and <br /> amended contract (if required) the Auditor may submit invoices for approval for services rendered, not to <br /> exceed 75% of the total of the stated fees below. If the current contracted fee is not fixed in total, invoices <br /> for services rendered may be approved for up to 75% of the prior year audit fee. Should the 75% cap <br /> provided below conflict with the cap calculated by LGC staff based on the prior year audit fee on file with <br /> the LGC, the LGC calculation prevails. <br /> 20 NCAC 03 .0505: All invoices for services rendered in an audit engagement as defined in 20 <br /> NCAC 3 .0503 shall be submitted to the Commission for approval before any payment is made. <br /> Payment before approval is a violation of law. <br /> PRIMARY GOVERNMENT FEES <br /> Primary Government Unit Orange County <br /> Audit $77500 <br /> Writing Financial Statements $5000 <br /> All Other Non-Attest Services $ <br /> 75% Cap for Interim Invoice Approval $61,875.00 <br /> DPCU FEES (if applicable) <br /> Discretely Presented Component Unit <br /> Audit $ <br /> Writing Financial Statements $ <br /> All Other Non-Attest Services $ <br /> 75% Cap for Interim Invoice Approval $ <br /> Page 6 of 8 <br />