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Contract - Auditing Services Amendment
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INFORMATION CONTACT:
Beverly Liles, Finance, Director, 704-283-3674
ACTION REQUESTED:
Authorize the Chair to the Board 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 Chair’s discretion.
PRIOR BOARD ACTIONS:
1) April 18, 2022, Regular Meeting, Agenda Item #22-212 - Approved FY22 Financial Audit Contract
2) May 5, 2023, Regular Meeting, Agenda Item #23-236 - Approved FY23 Financial Audit Contract
3) April 1, 2024, Regular Meeting, Agenda Item #24-209 - Approved FY24 Financial Audit Contract
4) March 17, 2025, Regular Meeting, Agenda Item #25-136 - Approved FY25 Financial Audit Contract
BACKGROUND:
This request is to extend the terms of the FY 2025 contract for auditing services with Cherry Bekeart, LLP. This extension is due to the Federal Government shutdown and the fact that the Compliance Supplement for federal grants were not available prior to the shutdown for FY 2025. Therefore, the auditors were not able to complete the federal and state grant single audit testing for FY 2025 as they normally are able to do so for each fiscal year.
The NC State Treasurer’s Office and the Local Government Commission are requiring counties in NC to extend the terms of the contracts with their audit firms to allow additional time for auditors to be able complete the federal and state grant testing. The expectation is that the auditors will have this completed in the January timeframe since the Federal Government recently released the final Compliance Supplement for single audit testing of federal grant programs.
This amendment will extend the terms through February 12, 2026.
FINANCIAL IMPACT:
None.