Orange County NC Website
Browse       Search
2 <br /> LGC-205 Amendment AMENDMENT TO CONTRACT TO AUDIT ACCOUNTS Rev. 11/2022 <br /> Whereas Primary Government Unit <br /> Orange County,North Carolina <br /> and Discretely Presented Component Unit(DPCU) (if applicable) <br /> and Auditor <br /> Mauldin&Jenkins, LLC <br /> entered into a contract in which the Auditor agreed to audit the accounts of the Primary Government Unit <br /> and DPCU (if applicable) <br /> Fiscal Year Ending Date <br /> for and originally to be <br /> 06/30/22 submitted to the LGC on 10/31/22 <br /> hereby agree that it is now necessary that the contract be modified as follows. <br /> Original date Modified date <br /> ❑✓ Modification to date submitted to LGC 10/31/22 01/18/23 <br /> Original fee Modified fee <br /> ❑✓ Modification to fee $ 96,000.00 $ 141,000.00 <br /> Primary Other Reason(s)for Contract Amendment <br /> (choose 1)(choose 0-2) <br /> E) ❑ Change in scope <br /> 0 0 Issue with unit staff/turnover <br /> 0 ❑ Issue with auditor staff/workload <br /> 0 ❑ Third-party financial statements not prepared by agreed-upon date <br /> 0 ❑ Unit did not have bank reconciliations complete for the audit period <br /> 0 ❑✓ Unit did not have reconciliations between subsidiary ledgers and general ledger complete <br /> 0 ❑ Unit did not post previous years adjusting journal entries resulting in incorrect beginning <br /> balances in the general ledger <br /> 0 ❑ Unit did not have information required for audit complete by the agreed-upon time <br /> 0 ❑ Delay in component unit reports <br /> 0 ❑ Software - implementation issue <br /> 0 ❑ Software -system failure <br /> 0 ❑ Software - ransomware/cyberattack <br /> 0 ❑ Natural or other disaster <br /> 0 ❑ Other (please explain) <br /> Plan to Prevent Future Late Submissions <br /> If the amendment is submitted to modify the date the audit will be submitted to the LGC, please indicate the steps the unit and <br /> auditor will take to prevent late filing of audits in subsequent years.Audits are due to the LGC four months after fiscal year end. <br /> Indicate NA if this is an amendment due to a change in cost only. <br /> The County and the audit firm have discussed changes to the audit process for June 30,2023 including:(1)the County is filling an <br /> accounting manager position;(2)if an accounting manager is not able to be hired,the County will retain additional accounting support to <br /> assist with close out and audit prep;and(3)detailed weekly status check-in throughout the entire duration of the audit. <br /> Additional Information <br /> Please provide any additional explanation or details regarding the contract modification. <br /> Modification to the audit fee is being made to address both the change in scope (additional federal/state programs <br /> that were required to be audited as major) as well as cost overruns resulting from additional hours to address <br /> audit adjustments. <br /> By their signatures on the following pages, the Auditor, the Primary Government Unit, and the DPCU (if <br /> applicable), agree to these modified terms. <br /> Page 1 of 3 <br />