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Contract Amendment - Audit Services
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INFORMATION CONTACT:
Beverly L. Liles, Finance, Director, 704-283-3675
ACTION REQUESTED:
Authorize the Board Chair to 1) negotiate and execute an agreement substantially consistent with this agenda item, 2) exercise any renewal or extension term options set forth in the Agreement, and 3) terminate the Agreement if deemed in the best interest of the County, each in the Board Chair's discretion.
PRIOR BOARD ACTIONS:
1) April 18, 2022, Regular Meeting, Agenda Item # 22-212 - Approved contract for FY2022 Financial Audit and Authorized Chairman to execute.
2) May 5, 2023, Regular Meeting, Agenda Item # 23-236 - Approved FY2023 Financial Audit and authorized Chairman to execute.
3) April 1, 2024, Regular Meeting, Agenda # 24-209 - Approved FY2024 Financial Audit and Authorized Chairman to execute.
BACKGROUND:
Through Request for Proposals (RFP) 2022-039, Cherry Bekaert, LLP was awarded the financial audit contract to provide auditing services for Union County. As required by the North Carolina Local Government Commission (LGC), the auditing contract must be awarded on an annual basis with approval from the Board of Commissioners. This request is to award a contract to Cherry Bekaert to perform the financial audit of the County's accounting records for FY2024.
The contract terms for auditing services includes fee for testing of five major grant programs for single audit testing. During FY2024, the County saw an increase in major grant programs resulting in a total of eleven programs tested. The original contract approved by the BOCC in April estimated there would be an additional four programs tested resulting in a contract amount not to exceed $146,000. The additional major programs tested resulted in not to exceed amount of $156,000 requiring an amendment to the FY2024 audit contract. The contract amendment requires the Chair's signature based on the Local Government Commission audit contract regulations.
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