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6 <br /> 1 Slide #5 <br /> Pli— OrongeCounry,North Carolino <br /> Compliance Reports <br /> Government Auditing Standards("Yellow Book")Report <br /> The fount ial report package contains a report on our tests of the Countyrs internal controls and compliance <br /> with laws,regulations,etc. The report is not intended to provide an opinion on internal controls nor is it <br /> intended to provide a legal determination on the County's compliance with applicable laws and regulations. <br /> This report and the procedures performed are required by Government Auditing 5raadords. <br /> Compliance Reports <br /> We were required to perform Single Audit procedu res on six(6)major programs(3 Federal and 3 State of <br /> North Carol ina progra ms). <br /> We issued a report on the Counv/s federal programs in accordance with the Uniform Guidance.That report <br /> contained an unmodified opinion on compliance. <br /> We Issued a report on the Cou nty's state programs In accord once with the State of North Carolina Single <br /> Audit Implementation Act.That report contained an unmodified opinion on compliance. <br /> Auditor's Discussion&Analysis(AD&4) <br /> 2 June 30,2024 <br /> 3 LeAnn Bagasala the programs that were audited include the Medicaid Program, ARPA <br /> 4 Program, and Section 8 Housing. She said three state programs were also audited. She said in <br /> 5 total, the County received four unmodified, or clean, audit opinions. <br /> 6 <br /> 7 Slide #6 <br /> Orange County,North Carolina <br /> Financial Trends-Composition of Fund Balance <br /> Trends from 2023 to 2024 <br /> Fund Balance Categories -General Fund n 2023 Fund Balance:$80.4M <br /> 50,000,000 <br /> 45,000.000 0 2024 Fund Balance:$82.3M <br /> 40,000,000 0 Decrease to unassigned fund <br /> 35,000,000 balance of approximately <br /> 30,000,000 $3.3 million—mostly related <br /> 25,000,000 to the increase in the RSS <br /> 20,000,000 calculation required by the <br /> 15,000,000 State of North Carolina. <br /> 10,000,000 o Unassigned fund balanceas <br /> 5,000A00 , of June 30,2024,is 16.2%of <br /> General Fund expenditures <br /> 2022 2023 2024 which is compliant with <br /> County policy disclosed in <br /> ■Nanspendable ■Restricted ■Committed ■Assigned ■unassigned Note 1 to the F/S. <br /> Auditor's Discussion&Analysis(AD&A) <br /> 8 June 30,2024 <br /> 9 <br /> 10 <br />