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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 5, 2022 <br /> Action Agenda <br /> Item No. 8-1 <br /> SUBJECT: Contract Award for Financial and Compliance Audit Services with Mauldin & <br /> Jenkins, LLC <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Gary Donaldson, (919) 245-2453 <br /> Attachment 1: NC Local Government <br /> Commission Audit Contract <br /> PURPOSE: To: <br /> • Authorize a one-year contract with two (2) one-year renewal options for Mauldin & <br /> Jenkins, LLC to perform full audit services which includes financial, single audits and <br /> financial statement preparation for Orange County; and <br /> • Authorize the Chair to sign the North Carolina Local Government Commission audit <br /> contract on behalf of the BOCC pending staff and attorney review. <br /> BACKGROUND: The County's 2021 audit firm Cherry Bekaert, LLC experienced staff turnover <br /> during the FY 2021 audit, resulting in a late audit, and Cherry Bekaert does not have the required <br /> resources to continue as the County's auditor for 2022. Mauldin and Jenkins, LLC is another <br /> leading audit firm that is expanding in North Carolina and has the required staffing resources to <br /> audit the County. Mauldin and Jenkins previously served as the County's audit firm. <br /> The audit services will encompass a financial and compliance examination of the County's Annual <br /> Comprehensive Financial Report (ACFR) in accordance with the laws of the State of North <br /> Carolina and preparation of the ACFR financial statements. The financial and compliance audit <br /> will cover federal, state and local funding sources in accordance with the Federal and State Single <br /> Audit Acts; applicable laws and regulations; and generally accepted auditing standards. <br /> FINANCIAL IMPACT: Funds are sufficiently budgeted in the Operating Budget for the audit <br /> contract. The cost to conduct all-inclusive audit services and financial statement preparation for <br /> the one-year contract is $96,000. The second and third year renewal option amounts are $98,500 <br /> and $101,000 respectively. <br /> SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to <br /> this item: <br /> • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY <br /> The creation and preservation of infrastructure, policies, programs and funding necessary <br /> for residents to provide shelter, food, clothing and medical care for themselves and their <br /> dependents. <br />