Orange County NC Website
Browse       Search
8 <br /> TERNS AND CONDITIONS SUPPORTING FEE <br /> As a result of our planning process,the County and Cherry,Salaam&Holland L.L.P. have agreed to a <br /> fee,subject t0 due fallowing conditions. <br /> To forebode smearing our mutual objectives,the County well provide in a barely manner audit schedules <br /> and supporting information,including timely communication of all sigaific rat accounting and financial <br /> reporting matters, as well is working space and clerical assistance are annually agreed upon and as is <br /> normal and reasonable in the circumstances When and iffier any resson the County is unable to provide <br /> such schedules, information end asvnana, Cberty, Belimn & Holland, LL.P. and the County will <br /> mutually revise the fee to reflect additional services, if any,requbed ofus to achieve these objectives. <br /> In providing our services,we will consult with the County with respect to saner of accounting,financial <br /> reporting or other sigaXicant busHess issues.Accordingly,time necessary to affect reasonable amount <br /> of such consultation is reflected in our fee. However,should a matterrmaire rettamh,consultation on audit <br /> work beyond that amount,Cherry,Be avem&Holland,L.L P.and ire County will agree to an appropriate <br /> revision in services and fee. <br /> Except for any changes in kes wise,may result fioan the maumstmces described shove,our fees will be <br /> limited to Nose set forth below. <br /> FEES <br /> Our fees for the services described above will be based upon our standard bri ing practices at the lime of <br /> die engagement. Our fees will be billed pefiadically as charges are incurred aM ere payable on <br /> presentation. A service charge will bea added to past dun accounts equal to 1-1R% per month (19% <br /> annually)on the previous month's balance less payments received during the monrly with a medium <br /> charge of 52.00 per mom, Based on our conesed W audit aecomts,Ne feewiB not exceed$59j00. Thin <br /> fee is based an anticipated coopestion Gorr your personnel and the assumption that unexpected <br /> umsranceswillnotbemcomter duringtheau&t Ifsinsifiem[additional timeis necessary.we will <br /> discuss it with you and arrive at anew fed amma[e before we incur the additional cows. Any ra difieanna <br /> W the fee Shag be in writing and signed by both parties. You Wet.to pay all moss of collecum(including <br /> reasonable attorneys' fees)that we may incur is counection wit the collection ofmpiid invoices. <br /> Base Charge—Financiel Audit 342,500 <br /> Base Charge-Compliance Audit 18,500(includes 8 major programs) <br /> Charge par Program for Additional <br /> Compliance Testing l,900 <br />