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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: January 17, 2023 <br /> Action Agenda <br /> Item No. 4-b <br /> SUBJECT: Presentation of Annual Comprehensive Financial Report for FYE 6/30/2022 <br /> DEPARTMENT: Finance and Administrative Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. GFOA Award for Excellence in Gary Donaldson, (919) 245-2453 <br /> Financial Reporting <br /> UNDER SEPARATE COVER <br /> 2. Annual Comprehensive Financial <br /> Report, June 30, 2022- Hard Copy <br /> CURRENTLY AVAILABLE AT. <br /> http://www.co.orange.nc.us/732/Finan <br /> cial-Audit <br /> 3. PowerPoint Presentation - Mauldin & <br /> Jenkins - To Be Provided at the <br /> Meeting <br /> PURPOSE: To receive the Annual Comprehensive Financial Report (ACFR) for the fiscal year <br /> ended June 30, 2022. <br /> BACKGROUND: The ACFR reports on all financial activity of the County for the fiscal year July <br /> 1, 2021 through June 30, 2022. Mauldin and Jenkins, LLC, a firm of Certified Public Accountants, <br /> audited the financial statements. The financial statements and audit are required by Chapter 159- <br /> 34 of the North Carolina General Statutes. The County prepares an Annual Comprehensive <br /> Financial Report (ACFR) that meets the standards set by the Government Finance Officers <br /> Association (GFOA). The ACFR is submitted to the GFOA in order to be awarded the Certificate <br /> of 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 ACFR. <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. The <br /> Chief Financial Officer and representatives of Mauldin and Jenkins LLC will cover highlights of <br /> the report and answer any questions. <br /> FINANCIAL IMPACT: The financial report indicates a strong financial position for Orange <br /> County. <br /> SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to <br /> this item: <br />