Title
Independent Audit Contract Final Payment for FY 2023 and Contract for FY 2024
PURPOSE: The purpose of this item is to both finalize payment for services completed by FORVIS, LLP as an independent auditor to the Town of Carrboro for FY 2023, including audit services, explanation of findings, and preparation of financial statements; additionally, this item serves to award a contract for the Town's annual independent audit for the fiscal year ending June 30, 2024 to FORVIS, LLP
end
Department
DEPARTMENT: Finance
end
Contact
CONTACT INFORMATION: Bret Greene, Finance Director (919) 918-7439, bgreene@carrboronc.gov
end
Council Direction
COUNCIL DIRECTION:
___ Race/Equity ____ Climate ____ Comprehensive Plan __X__Other
Council Direction Statement
The Town is obligated by the State to contract an independent audit of the town's financials annually. The purpose of this agenda item is to both officially complete the town's obligation related to services rendered by FORVIS, LLP for the audit for FY 2023 as well as to award the contract for the FY 2024 independent audit of the town's financials to FORVIS, LLP.
end
Information
INFORMATION:
The Local Government Budget and Fiscal Control Act (LGBFCA) requires each local government to prepare an annual financial report on their financial position at the end of the fiscal year and financial results of operations. The LGBFCA also requires that this financial report be audited by an independent certified public accountant.
The Town issued an RFP for audit services in FY 2022 and received only one response. Town staff does not recommend issuing an RFP for FY 2024 but plans to do so for FY 2025. The reason for this recommendation is multi-faceted and includes lack of availability of reputable independent audit firms available for North Carolina municipalities and an established track record established by Dixon Hughs Goodman LLP (now FORVIS, LLP) for services provided to the Town of Carrboro. T...
Click here for full text