Agenda - 05-04-2004-5d - Laserfiche WebLink

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Base Charge (or Audit $38,500 LG Base Charge fbr Financial Statement Preparation 510,000 Base Charge for Compliance Audit 519,000 (includes 8 major programs) Chazge Per Single Audit Program for Additional Compliance Testing 52,000 per program Bookkeeping None 0 east, the (inane al star d cots of hetgovernmen alnunit and all of its component units and no es thereto prepared in aecolydanlee with generally accepted accounting principles, combining and supplementary information requested by the client or required for full disclosure under the law, and the auditor's opinion on the material presented. The Auditor shall furnish the required number of copies of the report of audit to the Goveming Board as soon as practical after the close of the accounting period,. 11. The Auditor shall file f ahfederal single audit is conductedto7wo copiessof the report of audit should the submitted Sf an audit as Data Collection Form, be performede n accordance with GovernmentrAudhine Standards Otherwise, one copy shall be submittedn Copies of the report shall the report submitted must be bound` The report of audt't,(as filed withsthe Secr eery of the LoealiGovemmentrComms store, becomes a matter of public record for inspection and review in the offices of the Secretary by any interested parties. Any subsequent revisions to these reports must be sent to the Secretary of the Local Government Commission. These audited financial statements are used in the preparation of Official Statements for debt offerings, by municipal bond rating services, and to fulfill secondary market disclosure requiremenu of the Securities and Exchange Commission 12 circumstances, sthecAuditoroshall reform the Goveming Boardeinlwritingsotf the needtfor such additional inv strgaaonoand the maytbe varied or changed toUnclude the increased timerand/or compensation as may be agreed upon by the Governing Btoardrand the Auditor.. 13 PTe-audPed f ne etssary, and submitted to the Secretary of the Local Government Comm scion for approval gNo chance shah be _._., ~...>,,, e>~~Plarv of the Local Govemment Commission. the Govemin Board. and the Auditor. ellecu VC wu.+~- ._.__.. _.. 14 attaching a copynof ~he engagemeng letteeritlotthe contrect tlo incorporate the engagement letterrinto the ontmctgln case of confli t t rmsearehdeemed ~otbe vogdgunlesslthee confl Icing terms ofs[hisn ontraet are spec ficaliy deleted tincltemo2l ofathis contmet Engagement letters containing indemnification clauses will not be approved by the L.oeal Govemment Commission. I5. There are no special provisions except: See attached engagement letter 16 exccutedtfor each comnonlent unibwhiches a local govetrnment and fordwhich a separate audit report is issuedparate contract must be I7. The contract should be executed and submitted in yiolicate to the Secretary of the Local Government Commission, 325 North Salisbury Street, Raleigh, North Carolina 2760.3-1385.. 18 retat fined by the Secretary of the Local Glovemment Commission The audit should nopbe stltarted beforre thetcontract st nor m d a copy 19. entered into in acco dance with the procedure s trout herein and approved by the Secretlary of the Local Government Commiss oness 20. If this audit engagement is not subject to C'nvemment Auditine Standards, then Item 5 shall be listed as a deleted provision in Item 21. An explanation must be given for deleting this provision. 21., All of the above paragraphs are understood and shall apply to this agreement, except the following numbered paragraphs shall be deleted: (See Item 14.) None