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10 <br /> BACKGROUND: <br /> The CAFR reports on all financial activity of the County for the fiscal year July 1, 2019 through <br /> June 30, 2020. Mauldin and Jenkins, a firm of Certified Public Accountants, audited the <br /> financial statements. The financial statements and audit are required by Chapter 159-34 of the <br /> North Carolina General Statutes. The County prepares a Comprehensive Annual Financial <br /> Report (CAFR) that meets the standards set by the Government Finance Officers Association <br /> (GFOA). The CAFR is submitted to the GFOA in order to be awarded the Certificate of <br /> 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. <br /> The representatives of Mauldin and Jenkins will cover highlights of the report and answer any <br /> questions. <br /> Tim Lyons made the following PowerPoint presentation: <br /> Slide #1 <br /> A U L D i N ORANGECOUNTY <br /> & ENKINS NORTH CAROUNA <br /> Presentation of 2020 Audit Results <br /> Orange County,North Caiolina <br /> January 19,2021 <br /> Slide #2 <br /> 11.1.; -4�.l <br /> ORANGE COUNTY <br /> Agenda NORM{CAROIINn <br /> .Engagement Team <br /> .Resuils of the 2020 Audit <br /> .Financial Ratios <br /> .Comments.Recommendalions.and Other Issues <br /> .Questions S Comments <br />