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,~'~'~, A MEMBER OF ARTHUR YOUNG INTERNATIONAL <br /> <br /> March 4, 1987 <br /> <br /> }.Ir. Blair Bennett <br /> Cabarrus County <br /> Finance Director <br /> P. O. Box 707 <br /> Concord, North Carolina 28025 <br /> <br /> Dear Mr. Bennett: <br /> <br /> Enclosed is our contract for audit services for fiscal year ended <br /> June 30, 1986. With your promise of assistance in both the <br /> single audit and water and sewer fund areas, I was able to keep <br /> the fees to a minimum. <br /> <br /> Our increase over last year totals $4,000 and is composed of a <br /> $1,500 increase for the single audit and a $2,500 increase for <br /> the financial audit. The increase in single audit is due to <br /> additional timeJLeJ~nir-d ,'-l~_ting to the full implementation of <br /> the Single ~ A~t of i98~. 'The inc~as~ [n t~ fi~-~nci~ <br /> audit is due to the increased volume of transactions and <br /> complexity in the %va%-~-an~ ~ewer funds. ~ ~' <br /> <br /> Per our conversations to date you have committed additional <br /> assistance to the audit effort, particularly in the water and <br /> sewer funds area. This assistance will be in the form of <br /> assigning a person you have recently hired to assist us in the <br /> audit. ]iad this assistance not been committed to this year's <br /> audit effort, our fee proposal would have been $42,000 rather <br /> than the $31,000 reflected in our contract. <br /> <br /> If you have any questions, please call. <br /> <br /> Very truly yours, <br /> <br /> George W. Finger, Jr. <br /> <br /> GWF/j f <br /> Enclosure <br /> <br /> <br />