Common use of Reporting Entity Clause in Contracts

Reporting Entity. Orange County is defined, for financial reporting purposes, in conformity with the GASB's Codification of Governmental Accounting and Financial Reporting Standards, Section 2100. Using these criteria, management has included the Board, the six Constitutional Officers, and the five blended component units as the primary government. The blended component units are the International Drive Community Redevelopment Agency, the Orange Blossom Trail Community Redevelopment Agency, the Orange Blossom Trail Local Government Neighborhood Improvement District, and the Lake ▇▇▇▇▇▇ Water and Navigational Control District and Windermere Water and Navigation Control District. These blended component units are treated as part of the Board for audit purposes and they do not prepare individual financial statements. Management has also identified six component units requiring discrete presentation. These are identified below. Each of these units procures their own audit services and produces their own annual financial reports. All other governmental units in the Central Florida area are not a part of the Orange County reporting entity. The financial statements of the Orange County Library District, the International Drive Master Transit and Improvement District; the Orange County Industrial Development Authority; the Orange Blossom Trail Development Board, Inc.; the Orange County Health Facilities Authority; and the Orange County Housing Finance Authority are included as discretely presented component units in the financial statements of Orange County. It is anticipated that the auditor will not be required to provide special assistance to those respective units’ auditors (except for the Library District, as included in this RFP).