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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: January 20, 2026 <br /> Action Agenda <br /> Item No. 4-b <br /> SUBJECT: Presentation of Annual Comprehensive Financial Report for FYE 6/30/2025 and <br /> Approval of Audit Services Contract Amendment <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. PowerPoint Presentation — Mauldin & Gary Donaldson, (919) 245-2453 <br /> Jenkins <br /> 2. Audit Services Contract Amendment <br /> UNDER SEPARATE COVER <br /> 3. Annual Comprehensive Financial <br /> Report, June 30, 2025 <br /> ONLY AVAILABLE ELECTRONICALLY <br /> A T.- <br /> hUps://www.orangecountync.gov/732/Fin <br /> ancial-Statements <br /> PURPOSE: To: <br /> 1) Receive a presentation on the Annual Comprehensive Financial Report (ACFR) for the <br /> fiscal year ended June 30, 2025; and <br /> 2) Approve an Audit Services Contract Amendment for Fiscal Year 2025. <br /> BACKGROUND: The ACFR reports on all financial activity of the County for the fiscal year July <br /> 1, 2024, through June 30, 2025. Mauldin and Jenkins, LLC, a firm of Certified Public Accountants, <br /> audited the County's financial statements. The financial statements and audit are required by <br /> Chapter 159-34 of the North Carolina General Statutes. The financial report for the Orange County <br /> Sportsplex, as required under the management contract, is included in the County's ACFR. <br /> The County received an unmodified (clean) audit opinion on the financial statements received <br /> from the audit. The financial audit results indicate compliance with County financial policies. The <br /> Chief Financial Officer and representatives of Mauldin and Jenkins, LLC, will cover highlights of <br /> the report and answer any questions. The County's Unassigned fund balance remained in <br /> compliance with the 16% County policy at 16.9% of General Fund expenditures. <br /> Under North Carolina General Statute 143-129(e)(2), certain professional services including audit, <br /> legal and consulting are not subject to the same competitive bidding requirements as goods and <br /> construction contracts. Mauldin and Jenkins incurred $15,000 in additional expenses due to the <br /> requirements of the Uniform Guidance and State Single Audit Implementation Act and major <br /> program selection for FY 2025. Below are the programs required for the Single Audit: <br /> 1. Medicaid <br />