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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 21, 2024 <br /> Action Agenda <br /> Item No. 8-e <br /> SUBJECT: North Carolina Local Government Commission Audit Contract with Mauldin & <br /> Jenkins, LLC (Second Renewal Option) <br /> DEPARTMENT: Finance and Administrative Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Local Government Commission Audit Gary Donaldson, (919) 245-2453 <br /> Contract <br /> PURPOSE: To: <br /> • Approve the second of two one-year renewal options for Mauldin &Jenkins, LLC to perform <br /> full audit services for Orange County which includes financial, single audits and financial <br /> statement preparation; and <br /> • Authorize the Chair and Finance Officer to sign the North Carolina Government <br /> Commission audit contract on behalf of the BOCC pending staff and attorney review. <br /> BACKGROUND: The North Carolina Local Government Commission (LGC) requires that all local <br /> governments receive State approval for audit contracts. <br /> The audit and the associated fee cover six (6) major Federal and State programs and completion <br /> of the Annual Comprehensive Financial Report (ACFR). The audit firm, Mauldin & Jenkins, LLC, <br /> completed the FY 2022-23 audit pursuant to a one-year contract. This second renewal option for <br /> Mauldin & Jenkins would cover the FY 2023-24 audit. <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 financial statements. 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. Following the <br /> completion of this second renewal, the County will pursue a Request for Proposals for audit <br /> services for future years. <br /> FINANCIAL IMPACT: Funds in the amount of $120,000 are sufficiently budgeted for the audit <br /> contract. <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 />