2008-025 Finance & McGladrey & Pullen 2008 Audit Contract

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• il. The Andlwr shall Ble with the Local Government Cormission two copies of the report of audit, including one copy of the federal Dua Colleskn Fotm, if a federal single audit is conducted. In addition, if the North Carolina Office of the Stan Auditor dosfgnaus certain programs to be audited v major programs, a ono page tutnarotmd document and a ttpresentarion letter addttssed w the State Audiwr shall be submitted w the Local Government Commission. Two copies of the report of audit should be submitted iF the audit is performed ody undo the provisions of the Stau Single Audit haplementuion pct or a financial audit is required w be performed is accordance with Government Auditing Surtdards. Three copies of the audit should be submitted For Councils of Governments. Two copies of t>K audit should be submined for tax levying Municipalities. Otherwise, oae copy shall be submitted. Copies of the report shall be filed with the Laca1 Government Cotnmiction when (or prior to) submitting the invoice for the services rendered. All copies of the report submitted mast be board. Thor report of audit, as filed wiUl the Sectttary of the Local Goverment Commission, becomes a moor of public record for inspection and review in the offices of the Secretary by any interested parries. Any subsequent revisions to these reports rater be sent to the Secretary of the Local Government Commission. These audited fuuncial staumems are used in the preparation of O1Ticial Smtcmatu for debt offerings (the sadiron' opimoa is not included), by municipal bond sting services, w fulfill secondary market disclosure regniremetns of rho Securities and Exchange Commission, and other lawful purposes of the government, without subsequent coolant of the audiwr. l2. Should circwnvtances disclaeed by the audit roll for a more detailed inveuigarion by the Auditor than tueessary nailer ordinary citctmtstances, the Auditor shall inform the Governing Board in writing of the need for such additional invessigatios and the additional compensation required thettfott. Upoa approval by the Secretary of the Local Government Corrtmission, this agreement may be varied or changed to include the increased time aad/or enmpensarioa as may be agreed upon by the Governing Boatel sad the Audiwr. l3. If an approved contract needs w be varied or changed for any reason, rite change must be reduced to writing, signed by both parties, preauditcd if necessary, and submitted w the Secretary of the Local Government Commission for approval. No chmae shall be effective unless arroroved by the Secretarv of the Local Government Commission. the Governing Board. and the Auditar. l4. Whenever the Auditor uses an engagemtat leas with the client, Iran 15 may be completed by referencing the engagement letter and attaching a copy of the ettgagertunt lever to the enMnct to incoryonu the engagement letter into the contract. to case of conflict between the arms of the engagement totter and the terms of this contract, the terms of this enntras will control. Engagement letter terms are deemed w be void unless the contiicrirtg amts of this coatns are specifically deleud in [um 21 of this ennttact. Engagemem letters containing iudemn~cation clauses will not be approved by the Local Government Commission. 15. Thaearenosptaialprovisionsexcept: n,.,u.was,s,p.,,r„caw,.„err.,,awreo^uwwrwwanwnw«antr~n.ansawmww l6. A sepaau contract should not be made for each division to be audited or report to be submitud. A separate contract must be executed for each component unit which is a local government and for whkh s sepanu audit report is issued. l7. The contras should be executed end submitted IB sriolicate to the Secretary of the Local Govermtent Commission. The mailing address is 325 North Salisbury Street, Raleigh, North Carolina 27603-1385. The physical address is 4505 Feu Meadow Lane, Suitt 102, Raleigh, Nortlt Carotins 27607-6449. l8. Upon approval, the original contact will be resumed to the Goverontenul Unit, a copy will be forwarded w the Auditor, and a • ~Y retained by the Secretary of the Local Govetnattat Commission. The audit should rot be started before the contract is aooroved. 19. There att no Sher agreements betwxn the parties hettw and no shu agreements relative hettw that shag be enfortxabk ordeal entered inw in accordance with the procedure set out herein and approved by the Secretary of the Local Goverametlt Commission. 20. If this audit togagemtat is ns subject w Govemmtat Auditing Standards. then Item 5 chaff be listed as a deleted provision is Item 21. Aa explanation must be given for deleting this provision. 21. All of the above paragraphs are understood and shall apply to this agreement, except the folkwing numbered paragraphs shall be deleted: (See lam 14.) _ Firm McGladrey & Pullen, LLP ~, John J. Gilberto, Partner 1 type r to ) SignaNre authorized audit fum representative) Dau March 24, 2008 Approved by Ne Secretary oC the Local Govemata^t Date Commission ss provided in Aside 3, Chepur 159 of tM (If unit does not have m audit cormnitta, this section should be Geaenl S [es oqr Article 31, Pal 3, CA^pter 1 ISC of the nuked "WA.") ceaer^I St~ r9~ fl 3 ~ a ~1 'V ~~f~A' ~1ee~rryy~' ~` " `--' 7 Y ®~o ~ This instrument has hem ptraudued is the manner required by The For the Seatetlu~~~v~~a~ 1 tssion Lord Government Budget and Fi^esl Conunl Aet or by the School Vf Budge ^td Fiscal Control Aet. (s,gnatttrc~-~ Gar Hum re Date ~ Govetnmwul Un' w O ccr (Place type a print Hamra J Date (Praudi~ s be erred.) • (Signature of Audit Conomittee Chairperson)