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10 <br /> 1 BACKGROUND: <br /> 2 The CAFR reports on all financial activity of the County for the fiscal year July 1, 2019 through <br /> 3 June 30, 2020. Mauldin and Jenkins, a firm of Certified Public Accountants, audited the financial <br /> 4 statements. The financial statements and audit are required by Chapter 159-34 of the North <br /> 5 Carolina General Statutes. The County prepares a Comprehensive Annual Financial Report <br /> 6 (CAFR) that meets the standards set by the Government Finance Officers Association (GFOA). <br /> 7 The CAFR is submitted to the GFOA in order to be awarded the Certificate of Achievement for <br /> 8 Excellence in Financial Reporting. The financial report for the Orange County Sportsplex, as <br /> 9 required under the management contract, is included in the County's CAFR. <br /> 10 <br /> 11 The County received an unmodified (clean) audit opinion on the financial statements received <br /> 12 from the audit. The financial audit results indicate compliance with County financial policies. The <br /> 13 representatives of Mauldin and Jenkins will cover highlights of the report and answer any <br /> 14 questions. <br /> 15 Tim Lyons made the following PowerPoint presentation: <br /> 16 <br /> 17 Slide #1 <br /> AULDIN � <br /> &J ENKINS ORANGE COUNTY <br /> NORTH CAItOLINA <br /> Presentation of 2020 Audit Results <br /> Orange County,North Carolina <br /> January 19,2021 <br /> 18 <br /> 19 <br /> 20 Slide #2 <br /> ORANGE COUNTY <br /> Agenda NORTH c.anoi.INA <br /> .Engagement Team <br /> .Results of the 2020 Audit <br /> .Financial Ratios <br /> .Comments.Recommendations.and Other Issues <br /> .Questions&Comments <br /> 21 <br /> 22 <br /> 23 <br />