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HomeMy WebLinkAboutOTHER-2025-008-Presentation of Annual Comprehensive Financial Report for FYE 6-30-2025 and approval of Audit services ccontract amendment Attachment 3 LGC=205 Amendment AMENDMENT TO CONTRACT TO AUDIT ACCOUNTS Rev. 11 /2023 Whereas Primary Government Unit Orange County, North Carolina and Discretely Presented Component Unit (DPCU ) ( if applicable) and Auditor Mauldin & Jenkins , LLC entered into a contract in which the Auditor agreed to audit the accounts of the Primary Government Unit and DPCU ( if applicable ) Fiscal Year Ending Date for and originally to be 106/30/24 submitted to the LGC on 110/31 /24 hereby agree that it is now necessary that the contract be modified as follows . © Modification to date submitted to LGC Original date Modified date10/31 /24 02/28/25 Original fee Modified fee ✓❑ Modification to fee $ 120, 000 . 00 $ 1355000 . 00 Primary other Reason (s) for Contract Amendment (choose 1 ) (choose 0-2) 0 ❑ Change in scope 0 ❑ Issue with unit staff/turnover/workload 0 ❑ Issue with auditor staff/turnover/workload 0 0 Third -party financial statements not prepared by agreed -upon date 0 ❑ Unit did not have bank reconciliations complete for the audit period 0 ❑ Unit did not have reconciliations between subsidiary ledgers and general ledger complete 0 ❑ Unit did not post previous years adjusting journal entries resulting in incorrect beginning balances in the general ledger 0 ❑✓ Unit did not have information required for audit complete by the agreed-upon time 0 ❑ Delay in component unit reports 0 ❑ Software - implementation issue 0 ❑ Software - system failure 0 ❑ Software - ransomware/cyberattack 0 ❑ Natural or other disaster 0 ❑ Other (please explain ) Plan to Prevent Future Late Submissions If the amendment is submitted to modify the date the audit will be submitted to the LGC , please indicate the steps the unit and auditor will take to prevent late filing of audits in subsequent years . Audits are due to the LGC four months after fiscal year end . Indicate NA if this is an amendment due to a change in cost only . The County experienced significant turnover in its Finance Department with key personnel with several years of experience . Additionally, a software issue with its ERP system created significant delays in getting records prepared for audit when combined with the turnover in key personnel . Additional Information Please provide any additional explanation or details regarding the contract modification . By their signatures on the following pages, the Auditor, the Primary Government Unit, and the DPCU ( if applicable) , agree to these modified terms . Page 1 of 3 LGC =205 Amended AMENDMENT TO CONTRACT TO AUDIT ACCOUNTS Rev. 11 /2023 SIGNATURE PAGE AUDIT FIRM Audit Firm * Mauldin & Jenkins, LLC Authorized Firm Representative * (typed or printed ) Signature * Timothy M . Lyons (�� . r �C -� • �+ Date * Email Address 02/05/25 tlyons@mjcpa . com GOVERNMENTAL UNIT Governmental Unit* Orange County, North Carolina Date Primary Government Unit Governing Board Approved Amended Audit Contract* (if required by governing board policy) Mayor/Chairperson * (typed or printed ) Sig ture * Dat V1nail Address of i S CACco C . Chair of Audit Committee (typed or printed , or "NA") Signature Date Email Address GOVERNMENTAL UNIT — PRE -AUDIT CERTIFICATE *ONLY REQUIRED IF FEES ARE MODIFIED IN THE AMENDED CONTRACT* (Pre -audit certificate not required for hospitals) Required by G . S . 159 -28 (a1 ) or G . S . 115C 441 (a1 ) This instrument has been pre-audited in the manner required by The Local Government Budget and Fiscal Control Act or by the School Budget and Fiscal Control Act. Primary Governmental Unit Finance Officer* Signature * Date of Pre -Audit Certificate * Email Address * Page 2 of 3 LGC=205 Amended AMENDMENT TO CONTRACT TO AUDIT ACCOUNTS Rev. 11 /2022 SIGNATURE PAGE — DPCU (complete only if applicable) DISCRETELY PRESENTED COMPONENT UNIT DPCU Date DPCU Governing Board Approved Amended Audit �17 Contract (If required by governing board policy) DPCU Chairperson (typed or printed ) Signature Date Email Address Chair of Audit Committee (typed or printed , or "NA") Signature Date Email Address DPCU — PRE -AUDIT CERTIFICATE *ONLY REQUIRED IF FEES ARE MODIFIED IN THE AMENDED CONTRACT* (Pre-audit certificate not required for hospitals) Required by G . S . 159-28 (a1 ) or G . S . 11 5C 441 (a1 ) This instrument has been pre-audited in the manner required by The Local Government Budget and Fiscal Control Act or by the School Budget and Fiscal Control Act. DPCU Finance Officer (typed or printed ) Signature Date of Pre-Audit Certificate Email Address Page 3 of 3