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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 4, 2021 <br /> Action Agenda <br /> Item No. 8-g <br /> SUBJECT: Contract Award for Financial and Compliance Audit Services <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. Local Government Gary Donaldson, (919) 245-2453 <br /> Commission Audit Paul Laughton, (919) 245-2152 <br /> Contract (LGC) Template <br /> PURPOSE: To: <br /> • Award Request for Proposals (RFP) 367-OC 5314 Audit Services to Cherry Bekaert, LLP <br /> to conduct auditing services for Orange County in the amount of $83,000 (first year), <br /> $85,500 (second year), and $88,000 (third year); and <br /> • Authorize the Chair to sign the Local Government Commission (LGC) contract on behalf <br /> of the BOCC pending staff and attorney review. <br /> BACKGROUND: For the past five years, Mauldin and Jenkins, LLC has provided audit services <br /> for the County. The County's best practice is to review audit services every five years for potential <br /> audit rotation consistent with industry standards. RFP 367-OC-5314 was issued on March 15, <br /> 2021 by the Department of Finance and Administrative Services detailing the County's <br /> requirements. Four RFP responses were received on April 12, 2021: <br /> Cherry Bekaert, LLP <br /> Elliott Davis, PLLC <br /> Mauldin and Jenkins, LLC <br /> Thompson, Price Scott and Adams, PA <br /> The County's evaluation committee unanimously determined that Cherry Bekaert, LLP submitted <br /> the best overall proposal. Cherry Bekaert, LLP has estimated 721 hours for the financial audit, <br /> four Federal Major programs and two State Single Audit programs, with the audit conducted from <br /> its Raleigh, NC office. Cherry Bekaert, LLP clients include the following government entities: City <br /> and County of Durham, City of Raleigh, Guilford County, Mecklenburg County and Go Triangle <br /> Public Transportation Authority. <br /> The audit services will encompass financial and compliance examinations and completion of the <br /> Annual Financial Report (AFR) and Single Audit. The financial and compliance audit will cover <br /> federal, state and local funding sources in accordance with the Federal and State Single Audit <br /> Acts; applicable laws and regulations; and generally accepted auditing standards. <br />