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5 <br /> 1 <br /> 2 The number of major programs subject to audit varies each year based primarily on (1) the <br /> 3 composition of the County's federal awards and (2)the composition of the County's state awards. <br /> 4 Staff will review further with the auditors the estimated programs to be audited to meet audit <br /> 5 thresholds and standards. <br /> 6 <br /> 7 For the current audit year, these requirements resulted in a higher number of major programs <br /> 8 than anticipated when the original $135,000 contract amount was established, leading to the <br /> 9 additional cost. This increase was not the result of missed requirements or a change in audit <br /> 10 standards adopted after contract approval. The auditors expect the number of required major <br /> 11 programs — and associated costs — to decline in future years due to the expiration of COVID- <br /> 12 related funding and the planned increase in federal and state threshold levels to $1,000,000. <br /> 13 <br /> 14 The attached Audit Services Contract Amendment increases the FY 2025 cost from $135,000 to <br /> 15 $150,000. The FY 2026 and 2027 audit budgets are expected to be $140,000 and $145,000 <br /> 16 respectively. Staff will present the required annual Local Government Commission audit contracts <br /> 17 for those years at a future Board Business meeting. <br /> 18 <br /> 19 Gary Donaldson, Chief Financial Officer, introduced the item and Tim Lyons and Chad <br /> 20 Jackson from auditor Mauldin and Jenkins. <br /> 21 Tim Lyons made the following presentation: <br /> 22 <br /> 23 Slide #1 <br /> ORANGE COUNTY <br /> N0R-"'r. H <br /> A AT Presentation of Audit Results <br /> June 30, 2025 <br /> 24 <br /> 25 <br /> 26 Slide #2 <br />