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dj~ DAVID M. GRIFFITH AND ASSOCIATES, LTD. <br />~Ila~i~ ACCOUNTING SPECIALISTS TO LOCAL GOVERNMENT <br /> 1115 HUNTING RIDGE ROAD, RALEIGH, NORTH CAROLINA 27609 (919) 847-1069 <br /> May 22, 1980 <br /> <br /> Mr. Charles D. McGinnis <br /> Cabarrus County Manager <br /> Courthouse, Box 707 <br /> Concord, North Carolina 28025 <br /> <br /> Dear Mr. McGinnis: <br /> <br /> The fiscal year 79 Central Services Cost Allocation Plan we <br /> developed for you last year enabled you to recover administrative funds <br /> from the Division of Social Services and to establish CETA rates where <br /> appropriate. Federal Management circular 74-4 requires that a new plan <br /> be developed in each subsequent year based on actual expenditures for <br /> the year involved. Therefore, it is necessary for you to have a fiscal <br /> year 80 plan prepared so that you may continue to fully recover the costs <br /> of managing your federal grants and programs. <br /> <br /> We will be most happy to prepare this update for you on t~e <br /> same basis as we prepared the in~tial plan.' Thus, payment for our <br /> services will be dependent upon you actually receiving recoveries and <br /> we'will not be paid until you receive these additional monies. Please note <br /> that we are offering a reduction in our fee. This coupled with the high <br /> rate of inflation which has'increased our direct costs approximately 15~ <br /> can be viewed as a substantial savings to your locality. This was made <br /> possible by the increased number of clients which are now under contract <br /> allowing us to pass on certain savings which accrue with volume. <br /> <br /> For your convenience, I have enclosed two copies of the <br /> Agreement to Provide Professional Accounting Services for us to prepare <br /> the update. When you have secured the necessary approvals, please return <br /> one signed copy. <br /> <br /> If you have any auestions, do not hesitate to contact us. We <br /> look forward to working with you again. <br /> <br /> Davi~ R. Mazo <br /> Vice President 0 I~ <br /> DRM:am ~ <br /> <br /> Encl <br /> <br /> <br />