AG 2003 01 27 - Laserfiche WebLink

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because of thetr awareness that measures are betng taken by the county to audit for comphance. The selectton of taxpayers for auditing would proceed according to the following steps: Step 1 - Review data from listing process and compare to previous years listing to search for discrepancies. Choose those for audit based on questionable data Step 2 - Set up valuatton tters by bus~ness category and use random auditing either by alpha or valuation sampling method. An analysis should be conducted by the county and by the contracted audit firm to determine those taxpayers that have previously been audited either by the county or autht firm. It would then make sense that those which remain, as never having been audited, receive the strongest attention. Concentrating on this criteria should generate the greatest potential for the discovery of revenue Step 3 - Use the outside auditors for all of those requmng out-of-county travel since those companies may have headquarters located in other states. Step 4 - Get started immediately as every calendar year lost is a year of d~scovered revenue that is lost forever. We currently have a contract with Tax Management Associates, Inc (TMA) and only need your approval to move forward Their past commitment and association with Cabarrus County has certainly proven beneficial They have approximately 60 counties ~n N C using their auditing services. Outhned below are their fees Account Class Current Pers. Prop. Value Per Audit Fee Range A $0 to $400,000 $650 B $400,001 to $1,000,000 $1,105 C $1,000,001 to $5,000,000 $1,625 D Greater than $5,000,000 S5,200 I believe th~s is the only company that has the staffof dedicated auditors avmlable to complete a vast and comprehensive approach in a timely manner. Also, they have no other applicable fees, regardless of man-hours to complete the audit, or defense of the audit through the appeals process The county will also investtgate other firms later to be considered and evaluated.