TO: Mayor and Members of City Council
THRU: Jeffrey Yates, ICMA-CM, Assistant City Manager
FROM: Tiffany Murray, Chief Financial Officer
DATE: February 23, 2026
RE:Title
Approval of the FY2026 Audit Contract and Annual Communications from the Independent Auditors Regarding the FY2026 Audit
Title
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COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
GOAL V: Financially Sound City Providing Exemplary City Services
Objective A: Ensure strong financial management with fiduciary accountability and plan for future resource sustainability by aligning resources with City priorities.
Executive Summary:
The City and PWC are required by North Carolina state statutes and granting agencies to have an annual audit, and the Local Government Commission requires annual audit contracts.
Background:
The Audit Committee recommended PBMares, LLP, and City Council approved PBMares, LLP as the external audit firm beginning in fiscal year 2021. The Local Government Commission requires that an audit contract be approved annually.
Issues/Analysis:
PBMares, LLP will need to begin preliminary fieldwork upon approval of this contract to meet the deadline established by the Local Government Commission for completion of the FY2026 audit.
The Local Government Commission requires annual audit contracts to ensure compliance with state statutes and reporting requirements.
Budget Impact:
Not to Exceed $175,000
Options:
Approve the audit contract or provide staff with further direction.
Recommended Action::Recommended Action
Staff recommend approval of the audit contract as presented.
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Attachments:
PBMares, LLP FY2026 Required Communications
PBMares, LLP FY2026 Contract