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AULDIN <br /> & ENKINS --- <br /> ORANGE COUNTY <br /> Results of 2020 Audit (continued) NORTH CAROLINA <br /> ■ Financial Statement Disclosures <br /> — The footnote disclosures to the financial statements are also an integral part of the financial statements and the process used by <br /> management to accumulate the information included in the disclosures was the same process used in accumulating the statements. <br /> The overall neutrality, consistency, and clarity of the disclosures was considered as part our audit. <br /> ■ Relationship with Management <br /> — We received full cooperation from the County's management and staff. <br /> — There were no disagreements with management on accounting issues or financial reporting matters. <br /> ■ Audit Adjustments <br /> — There were several posted adjustments which were necessary during the audit process. Those entries have been provided to <br /> management and have all been recorded on the County's general ledger by management and they have agreed with all adjustments. <br /> — We have two (2) proposed and passed audit adjustments. The first passed adjustment pertains to depreciation errors that occurred <br /> in the prior year ($468,000) and the second passed adjustment pertains to the County's net pension liability for LGERS as more <br /> contributions were credited to the County's NPL than were reported as deferred outflows as of June 30, 2019 ($418,000). <br /> ■ Management Representation <br /> We requested, and received, written representations from management relating to the accuracy of information included in the <br /> financial statements and the completeness and accuracy of various information requested by us. <br /> �..; 5 <br />