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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: January 19, 2021 <br /> Action Agenda <br /> Item No. 4-d <br /> SUBJECT: Presentation of Comprehensive Annual Financial Report for FYE 6/30/2020 <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 - Mauldin & <br /> Jenkins <br /> 3. PowerPoint Presentation - FY 2019-20 <br /> Financial Review (For Reference <br /> Purposes Only) <br /> UNDER SEPARATE COVER <br /> 4. Comprehensive Annual Financial <br /> Report, June 30, 2020 <br /> ONLY AVAILABLE <br /> ELECTRONICALLY AT: <br /> http://www.co.orange.nc.us/732/Finan <br /> cial-Audit <br /> PURPOSE: To receive the Comprehensive Annual Financial Report (CAFR) for the fiscal year <br /> ended June 30, 2020. <br /> BACKGROUND: The CAFR reports on all financial activity of the County for the fiscal year July <br /> 1, 2019 through June 30, 2020. Mauldin and Jenkins, a firm of Certified Public Accountants, <br /> audited the financial statements. The financial statements and audit are required by Chapter 159- <br /> 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 County <br /> Sportsplex, as required under the management contract, 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 /> representatives of Mauldin and Jenkins will cover highlights of the report and answer any <br /> questions. <br />