Town of PRINCETON  April 1, 2024 7:00PM  BOARD OF COMMISSIONERS - BOARD MEETING AGENDA  1. Call to order 2. Invocation & Pledge  3. Adopt Agenda for the April 1, 2024 Board Meeting 4. Approve the Minutes for the March 4, 2024 Meeting 5. Comments from Mayor and Commissioners 6. Public Comments - Persons to be Heard 7. Community Building Presentation 9. Audit Contract for FY23-24 10. MT Barefoot Endowment 11. LGC Response 12. Adjourn  8. Annexation Findings & Resolution to Adopt the Public Hearing    4  Town of Princeton Board Meeting/March 4, 20237:00PM  Present: Mayor Stacy. Johnson, Comm. Robinson, Comm. Holmes, Comm. Martin, Mayor Pro Tem Rose Others: TAI King, TC April Williamson, Asst. TCI Emily Caughron, PW Superintendent Buddy Sanders, Chief  Smiley, Jeff Sheffield, Marla Ashworth, Ethan Gartin, Luke Baker Mayor. Johnson called the meeting to order at 7:00PM  Comm. Robinson gave the invocation and Mayor Pro Tem Rose lead the Pledge of Allegiance. Comm. Martin made a motion to adopt the agenda for the March 4, 2024 board meeting, and Comm. Mayor. Johnson said that there is one correction he would like to make to the minutes from the February 5, 2024 board meeting and that is the amount of the property tax value, iti is int the minutes as $1,690.00 but should be $19,690.00. Comm. Robinson made a motion to adopt the consent agenda which includes the minutes from the February! 5, 2024 board meeting and the minutes from the closed session with the correction made by Mayor. Johnson, Comm. Martin seconded the motion. The motion passed  Holmes seconded the motion. The motion passed unanimously.  unanimously.  Austin Eubanks gave the presentation on the 2022-2023 audit. Mayor Pro Tem Rose asked Austin about how they came up with some oft the percentages they used int the reports and Austin stated that he would be more than happy to send him a copy of all of the formulas that they go by. Comm. Martin made a motion to approve the 2022-2023 audit and Comm. Robinson seconded the motion. The motion passed unanimously. Thel board thanked Austin for presenting this information. Luke Baker with TRC presented a proposal for engineering services for the Town of Princeton's stormwater management project. Luke included a map ofl locations for this project so the board could review it. This project will consist of field data collection of stormwater infrastructure, such as manholes, inlets, junction boxes, pipes, and culverts as well as the development of a stormwater management plan and a 10-year capital improvements plan for thet town's water infrastructure. Comm. Holmes stated that he agrees with this project but does not understand why we would look at some of these locations outside of our town limits. Luke said he could go back and make the project limits stayi inside the town limits. The board agreed. Mayor Pro tem Rose made a motion and Comm. Holmes seconded the motion. Luke with TRC also presented a proposal for the Beaver Dam Creek Rehabilitation. This service will include additional environmental permitting and threatened and endangered mussel surveys. The board agreed that if this is something that has to be done or will eventually be mandatory then the town should go ahead and have it done. Comm. Robinson made a motion to approve the Beaverdam Creek design amendment presented by Luke Baker and Comm. Holmes seconded the motion. The motion Mayor. Johnson introduced Ethan Gartin and Marla Ashworth to discuss the Johnston County Partnership and the WWTP. Ethan followed up with a grant/funding that has spoken about in the past regarding the WWTP. Ethan wenti into detail regarding the WWTP expansion is looking like a $12 million dollar project and that does not include other soft costs that would putt the project in the $15&$ $16 million range. Ethan stated that he believes he should be able to complete what is left ofworking with  The motion passed unanimously.  passed unanimously.    the USDA fori funding when he can get them ont the phone and go through a couple of things that are still needed. Marla Ashworth went over some other requirements with the board that are needed for the application. Marla provided a printout and additional details for the. Johnston County Partnership. Comm. Martin commented that he could not see the town telling the citizens their bill would go up $65.00 to be in a partnership with. Johnston County. Marla stated that the town can receive up to 75% grant funding but it is not likely due to the size of the project. Mayor Pro Tem Rose recommended to not proceed with this partnership due to feeling it is not what the town isl looking to spend money on right now. Rose said ifit becomes mandatory in the future then we can discuss the cost and the funding at that time. The board agreed. Mayo Pro Tem made a motion to table this discussion until it was truly needed and Comm. Holmes seconded the motion. The motion passed unanimously. TAI King presented the animal control ordinance and said it was tabled in the February 5, 2024 meeting to give the board ample time to review and submit recommended changes. Mayor Pro Tem Rose reviewed the ordinance and had some questions regarding some oft the line items. TAI King said he has Mayor Pro Tem recommendations written down and he will get with Mayor. Johnson tomorrow to verify and update the Animal Control Ordinance. Mayor Pro Tem made a motion to adopt the animal control ordinance with recommended updates and Comm. Martin seconded the motion. The motion passed Mayor Johnson said next on the agenda is a resolution to adopt directing the clerk to investigate a petition received under G.S. 160A-58.1 for annexation on 2671 Massey Holt Road, Princeton. Comm. Martin made a motion to adopt this resolution and Comm. Holmes seconded the motion. The motion TAI King reminds the board to complete the survey for the planning retreat: the retreat will be Monday, March 11, 2024, at 6:00 with dinner from 5-6PM. The next board meeting is April 1, 2024, at7:00PM  unanimously.  passed unanimously.  and the first budget meeting is April 15,20at7:00PM.  The meeting is adjourned.  Mayor, Stacy. Johnson  Asst. Town Clerk, Emily Caughron    7  COMMUNITY BUILDING PROJECT  Town of Princeton balance of funds as of today = $357,930.52  We have an appropriation of $310,000 coming from legislature (Rep. Strickland). The final paperwork was completed last week. That appropriation  should arrive within 60-90 days.  New total = $667,930.52 (With NCL appropriation) Donations ($153,000) as of March 25, 2024  Private $25,000 Hansen $68,000 Private $20,000 Deacon Jones $25,000 Kornegay Family Farms $15,000  Ifyou did not have any sponsors, the funding balance as of today would be  $514,930.52  The balance sheet from 2019 to current is attached.    GL Account History Summary  Town of Princeton 3/25/2024 3:14PM  Page 1/2  Account Range: 44-101-0100 CB CHECANG-4-101-0100 CB CHECKING  Date Range: 1/25/2018 - 3/25/2024  GL Account: 44-101-0100 CB CHECKING  Date  Description  Source Beg Balance APCK APCK Transaction Totals Beg Balance GLGJ GLGJ GLGJ PCPM GLGJ Transaction Totals Beg Balance GLGJ GLGJ Transaction Totals Beg Balance PCPM GLCR APCK GLGJ GLGJ GLGJ Transaction Totals $520,000.00 Beg Balance GLGJ GLGJ GLGJ GLCD APCK APCK APCK PCPM PCPM PCPM PCPM PCPM PCPM  Debits $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25,760.00 $12,500.00 $13,260.00 $51,520.00 $0.00 $0.00 $13,260.00 $13,260.00 $0.00 $10,000.00 $500,000.00. $0.00 $0.00 $0.00 $10,000.00 $0.00 $510,000.00 $504,458.25 $0.00 $0.00 $0.00 $5,000.00 $2,000.00 $15,000.00 $1,000.00 $2,000.00 $222.00  Credits Date $0.00 $1,100.00 05/02/2019 $24,660.00 06/17/2019 $25,760.00 $0.00 $25,760.00 11/01/2020 $25,760.00 11/01/2020 $0.00. 11/01/2020 $0.00 07/02/2019 $0.00 05/05/2021 $51,520.00 $0.00 $13,260.00 09/15/2021 $0.00 02/11/2022 $13,260.00 $0.00 $0.00 10/06/2021 $0.00 05/22/2022 $5,027.50 06/03/2022 $488.25 09/07/2022 $10,026.00 09/08/2022 $0.00 09/06/2022 $15,541.75 $0.00 $0.00 05/26/2022 $0.00 08/25/2023 $168.00 08/01/2022 $1,232.50 09/02/2022 $475.00 10/06/2022 $0.00 12/30/2022 $0.00 02/14/2023 $0.00 02/20/2023 $0.00 03/13/2023 $0.00 05/11/2023 $0.00 06/05/2023  Fiscal Perid-FY2018-2019 05/02/2019 DUNN&DALTON. ARCHITECTS 06/17/2019 DUNN & DALTON ARCHITECTS Fiscal Perid-FY2019-2020 07/01/2019 System Opening Entries 07/01/2019 System Opening! Entries 07/01/2019 System. Reverse Opening Entries 07/02/2019 MISCPAYMENT 06/30/2020 FY:2019-2020 CLOSING ENTRIES Fiscal Perid-FY2920-2021 07/01/2020 COMM BLDGI FUND Fiscal Period-2021-2022 10/06/2021 MISCPAYMENT 03/14/2022 NCOSBM  06/30/2021 EOYADJUSTING, ENTRIES JUNE 30:2021  06/03/2022 DUNN&DALTON. ARCHITECTS 06/30/2022 ATTORNEY. FEES ADJUSTMENT 06/30/2022 CB CAPITAL OUTLAY ADJUSTMENT 06/30/2022 CBDONATION Fiscal Perid-FY2022-2023 07/01/2022 System Opening Entries 07/01/2022 System Opening Entries 07/01/2022 System Reverse Opening Entries 07/01/2022 TRUIST CREDIT CARD 09/02/2022 DUNN & DALTON ARCHITECTS 10/06/2022 DUNN&DALTON ARCHITECTS 12/22/2022 TRUIST 12/30/2022 MISCPAYMENT 02/14/2023 MISC PAYMENT 02/20/2023 MISCPAYMENT 03/13/2023 MISCI PAYMENT 05/11/2023 MISCPAYMENT 06/05/2023 MISCPAYMENT  $0.00 $510,000.00 05/26/2022  $0.00 $215,165.40 12/22/2022    GL Account History Summary  Town of Princeton 3/25/2024 3:14PM  Page 2/2  Account Range: 44-101-0100 CBC CHECANG-4+101-0100 CB CHECKING  Date Range: 1/25/2018 - 3/25/2024  GL Account 44-101-0100 CB CHECKING  Date 06/22/2023 MISCPAYMENT 06/30/2023 EOY ADJUSTMENTS 06/30/2023 EOYADJUSTMENTS Fiscal Period-FY23-24 07/01/2023 System Opening Entries 10/12/2023 COMMUNITY HARDWARE 10/19/2023 DUNN&DALTON ARCHITECTS 11/16/2023 COMMUNITY HARDWARE 11/16/2023 LOWE'S 01/05/2024 CANADY'S TERMITE & PEST CONTROL 01/05/2024 MOVE EXPENSES FOR 107N.F PINE OUT OF PROJECT 01/11/2024 TRCCOMPANIES, INC. 03/21/2024 EHADDOCKE ENTERPRISES  Description  Source PCPM GLGJ GLGJ Beg Balance GLGJ APCK APCK APCK APCK APCK GLGJ APCK APCK  Debits $1,000.00 $25,000.00 $53,483.00. $0.00 $392,122.35 $0.00 $0.00 $0.00 $0.00 $0.00 $734.83 $0.00 $0.00  Credits  Date $0.00 06/22/2023 $0.00 12/27/2023 $0.00 12/27/2023 $0.00 $0.00 03/12/2024 $94.99 10/12/2023 $1,217.50 10/19/2023 $63.47 11/16/2023 $546.36 11/16/2023 $125.00 01/05/2024 $0.00 03/25/2024 $15,179.34 01/11/2024 $17,700.00 03/21/2024 $34,926.66 $0.00 **  Transaction Totals $1,119,163.25 $727,040.90  FUNDS  Transaction Totals $392,857.18 End Balance $357,930.52    Sa  CERTIEICATEOF: SUFFICIENCY  To the Board ofCommissioners oft the Town of Princeton, North Carolina: Massey-Holt Road, Parcel 04P1109 and hereby make the following findings:  1,April Williamson, Town Clerk, do herby certify that Ihave investigated the attached petition for 2671 Ifurther find that the area meets the standards for a noncontiguous area as specified in G.S. 160A-58.1(b), 1. The petition includes a metes and bounds description ofthe area proposed for annexation and has attached a map showing the proposed satellite area in relation to the primary corporate limits. 2. The petition includes the names and addresses of all owners of real property lying in the area 3. The petition includes the signatures ofall owners of real property lying in the area described 4. The nearest point on the proposed satellite corporate limits is no more than three (3) miles from 5. No point on the proposed satellite corporate limits is closer to the primary corporate limits ofany 6. The satellite area is sO situated that the Town of Princeton will be able to provide the same 7. Tot the extent that the proposed satellite area contains any portion ofas subdivision, the entire 8. The Town of Princeton is exempt from the following noncontiguous standards stating the area within the proposed satellite corporate limits, when added to the area within all other satellite corporate limits ofthe Town, does not exceed ten percent (10%) ofthe area within the primary  in that:  described therein.  therein, except those not required to sign by G.S. 160A-58.1(a). the primary corporate limits ofthe Town of Princeton; municipality other than the Town of Princeton;  services as are provided within its primary corporate limits;  subdivision is included;  corporate limits oft the Town, pursuant G.S. 160A-58.1(b)(5).  In witness whereof, Ihave hereunto set my hand and affixed the seal ofthe Town of Princeton, this Ist day  of April, 2024.  1!IS  (SEAL) FR  1873 ORPORA  hibiliot April Williamson, Town Clerk    PETITION REQUESTING ANNEXATIONFOR PARCEL # 04P1109 - 2671 MASSEYHOLTROAD.  PRINCETONNC  February 13, 2024  To the Board of Commissioners of the Town of Princeton ofNorth Carolina:  I. I(We) the undersigned owner(s) ofreal property respectfully request that the area described in Paragraph 2 below be annexed to the Town ofPrinceton ofNorth Carolina. 2. The area to be annexed will be anon-contiguous to the Town ofPrinceton and the boundaries of  such territory are as follow:  Being shown on the attached map and described by metes and bounds as follow:  THIRD TRACT:  (a) BEGINNING at a stake, corner of Lot No. 2, and runs and Sixty Five Hundredths (9.65) acres. more or less.  with the line of said Lot S. 864 E. 1915 feet to a stake in W T Hinton's line, corner of Lot No. 2, thence with Hinton's line N. 264 W. 270 feet to a stake, corner of Lot No. 4, thence N. 864 W. 1775 feet to a stake, center of Princeton Road, thence with said Road S. 5W. 230 feet to the beginning. containing Nine FIFTH TRACT: HEGINNING at a stake in the çenter of the Princeson-Road, and runs with the line of Lot No. 3 S. 864 E. 1775 feet to,a stake in WT Hinton's line, corner of Lot No. 3, thence with Hinton's line N. 262 W. 455 feet.to a stake, Hinton's corner, thence West 4700 feet to a stake on the run of Moccasin Swamp, thence down the run of said Swamp to a black gum, corner of Lot No. 7, thence with the line of said Lot S. 89 E. 2350 feet to a stake,-corner of Lot No. 5, thence with the line of said Lot N. 82! E. 490 fet to a large oak, thence S. 894 E. 348 feet to a stake in the center of the Princeton Road, thence S. 34-3/4 W. 120 feet toa stake corner of. Lot No. 3, the beginning point, and containing THIRTY THREE 3. A map is attached showing the area proposed for annexation in relation to the primary corporate 4. (We)arknowledge that any zoning vested rights acquired pursuant to G.S. 160A-385.1 lorG.S. 153A-344.1 must be declared and identified on this petition. I(We) further acknowledge that failure to declare such rights on this petition shall result in a termination ofvested rights previously acquired for the property. (Ifzoning vested rights are claimed, indicate below and attach proof.)  AND FOUR TENTHS (33.4) ACRES, MORE OR LESS. limits oft the Town of Princeton ofNorth Carolina.  Name  Address  Signature  Property Owner Information: 201Windy Peak Loop Caly. NC27519  Ann. F. Pous Revocable Trust. Mary Dwight Potts Clark Trustee  Date  fonlbib) kahe onaE.  kyhw    *** DISCLAIMER *** legal  Johnston County assumes no responsibility for the information  dmse NORTK-CAROLINA  represente  Ta NCPi Mapsheet N Owner Name Owner Name Mail Address Mail Address Mail Address Site Address Site Address Boo Pag Market Valu Assessed Acreag Calc. Acreag Sales Pric Sale Dat Townshi Flood Pane Water Distric ET City Limit Town Zonin County Zonin OverLay Zonin EMS Distric Fire Distric Law Distric Census Trac Electrit-DIstrc VotingPistrint US Congression AIP Unuen nictrir  GESECTION DNE  HOLTRD  Scale: 1:9752 - 1in.=812.63 feet  (Thes scale is only accurate when printed landscape ona a81/2x11: sizes sheety with no page scalfpecial Ta    ANN F. POTTS REVOCABLE TRUST CLARK, MARY DWIGHT POTTS TRUSTEE  MASSEY HOLT RD 2000250768 Reval Year: 20191 Tax Year: 2024 NCSR 2372 Appraised B2moyeipgza NORTHEAST: JOHNSTON CONSTRUCTION IDETATL TOTAL POANTVALUE BUXIPNG ADISTHENTS TOTALA ADJUSTMENT FACTOR TOTAL OUALITY INDRX  390048 PLAT:/UNIQID3 IDNO: 264100-99-021  BOONI HILL F/D (100), COUNTY1 TAX( (100)  CARD NO. 1of1 21.1000 AC TW-04 C. FR-22 PRPRECTATION INORM %GOOD  MARKETVALUE  uSE MOP Annal OUAL BASHRATE RCN MB AYB  97 00 VACANT STYLE:  MARKET VOTAL MA TOTALAP TOTALAP TOTALI PRUI VOTAL VA TOTALTA: BUILDING OBXF VALU LAND VALU PRESENTU DEFERRED TOTALVAL OFF.REC BDOK 06276 0072510  SUBAREA  CODE TOTALGB/XF VALUE  DESCRIPTION COuNT LTH WTH UNITS UNIT PRICE ORIG %  AYB EYB  TVPE GS AREA TPCT RPLCS SUBAREA TOTALS BLDG DIMENSIONS LAND INFORMATION USE OPNLND PAV TOTAL MARKET LAND DATA AGRIII TOTAL PRESENT USE DATA 04-P-11-029- (9131324) Group:o  COND BLDG  HIGHEST AND BEST USE LOCAL FRONTAGE DEPTH DEPTH LND COND OTHER ADJ/NOTES ROAD LAND UNIT TOTAL LAND UNIT TOTAL ADJL  CODE. ZONING 0500 RAG 0 5210  SIZE KOD FACT RFACLCTOOT TYPE PRICE  UNITS TYPE ADIST UNIT 21.100 AC 1.000 21.1 21.100 AC 1.000 21.1  0 1.0000 o 1.0000 1.0000 5 1.0000  4,800.00 900,00    Filedi in JOHNSTON COUNTY, NC CRAIG OLIVE, Register of Deeds Filed 06/09/2022 10:34:24. AM  DEED BOOK: 6276 PAGE: 66-67 INSTRUMENT # 2022813733 Real Estate Excise Tax: $0.00 Depuly/Assistant Register of Deeds: Lynn Kirby  The attorneys preparing this instrument! have made not titlee examination ofthis property and express no opinion astot title unless containedi ina as separate written certificate..  PIN Number. Affected: 264100-99-0211 & 265100-05-4986  Revenue: None QUITCLAIM DEED  STATE OFI NORTH CAROLINA COUNTY OF. JOHNSTON  THIS QUITCLAIM DEED is made and entered into this 18th day of May, 2022 by and between MARY DWIGHT POTTS CLARK, Attorney-in-Fact for Ann Fitzgerald Potts, having a mailing address of201 Windy Peak Loop, Cary, North Carolina 27519 ("Grantor"), and MARY DWIGHT POTTS CLARK, Trustee of the Ann F. Potts Revocable Trust dated January 4, 2022, having a mailing address of 201 Windy Peak Loop, Cary, North Carolina 27519 ("Grantee"). Grantor, for valuable consideration, the receipt of which is hereby acknowledged, has remised and released, and by these presents does remise, release, and forever quitclaim unto the Grantee, her heirs, or successors and assigns, allright, title, claim, and interest of Grântor in and-to all real property which Ann Fitzgerald Potts owns in Johnston County, North Carolina, including,  without limitation, the following tracts:  1. Tract No. 1. Approximately 21.1 acres on Massey Holt Road, and being 2. Tract No.2. Approximately 45.03 acres on Hoit Road, and being listed as  listed as PINN0.64100.99-0211. PIN No. 265100-05-4986.  Prepared by and return to: Baddour, Parker, Hine, & Hale, P.C., P.O. Box 916, Goldsboro, NC: 27533    DEED B: 6276P:67  END OF DOCUMENT  Thej property herein conveyed does not include the primary residence of the Grantor. TO HAVE AND TO HOLD the aforesaid tract or parcel of land and all privileges and appurtenancest thereunto belongingtol her, the Grantee, her heirs, or successors and assigns, freeand discharged from all right, title, claim, or interest ofthe Grantor or anyone claiming by, through, or  under her.  INTESTIMONY WHEREOF, Grantor hasl hereunto set her hand and seal the day and year  first above written.  (SEAL)  Mary Dwight Potts Clark, Attorney-in-Fact for Ann Fitzgerald Potts  STATE OFNORTH ÇAROLINA COUNTYOF. Wake  LTnS  aNotary Public ofthe County and  State aforesaid certifythat MAYDWIGHTOIISCIAXKAmet for Annl Fitzgerald Potts, personally appeared before me this day and acknowledged the execution of the foregoing  instrument.  WITNESS my hand and notarial seal this 3rl dayof Jwne  2022.  Notary ea  .My Commission Expires: Apcil 14, 2005  Tonil M. Surette NOTARYE PUBUC Wake County, NO MyCommission Explres:pyha2oa  CAapawasrerietans aMeHINEKCaaryaNEs ann to ann potts rev trustj johnston co deed.wpd  Prepared by and ratum to: Baddour, Parker, Hine, &1 Hale, P.C.,P.O. Box 916, Goldsboro, NC27533    3/22/24,4:07PM  Boon Hil Township, North Carolina to 35.4581630, -78.1635501- G Google Maps  Goc gle Maps Boon Hill Township, North Carolina to 354581630,761635501  Distancet from Town limits to 2671 Massey-Holt Road  SASPLaNS e  Jnbedasesp  DeAdeApeeNO  3  PAARLALATNP HesiLesgue  imin  BOGnHIIT Township  Gocgle  M  vial Massey Holt Rd Fastest route now due tot traffic conditions  1min 0.7mile  pshamagagaommapaeMMAnSAENSAIHESAV8ESAS3,A18MSsB-aseawtweiya.    $160A-58.1. Petition for annexation; standards.  (a) Upon receipt of a valid petition signed by all of the owners of real property in the area described therein, a city may annex an area not contiguous to its primary corporate limits when the area meets the standards set out in subsection (b) of this section. The petition need not be signed by the owners of real property that is wholly exempt from property taxation under the Constitution and laws of North Carolina, nor by railroad companies, public utilities as defined in G.S. 62-3(23), or electric or telephone membership corporations. A petition is not valid in any of  the following circumstances:  (1) (2)  Iti is unsigned.  Itis signed by the city for the annexation of property the city does not own or have a legal interest in. For the purpose of this subdivision, a city has no legal interest in a State-maintained street unless it owns the underlying fee (3) Itis for the annexation of property for which a signature is not required and (b) A noncontiguous area proposed for annexation must meet all of the following  and not just an easement.  the property owner objects to the annexation.  standards:  (1) The nearest point on the proposed satellite corporate limits must be not more than three miles from the primary corporate limits of the annexing city. No point on the proposed satellite corporate limits may be closer to the primary corporate limits of another city than to the primary corporate limits of the annexing city, except as set forth in subsection (b2) of this section. The area must be sO situated that the annexing city will be able to provide the: same services within the proposed satellite corporate limits thati it provides Ift the area proposed for annexation, or any portion thereof, is a subdivision as defined in G.S. 160A-376, all of the subdivision must be included. The area within the proposed satellite corporate limits, when added to the area within all other satellite corporate limits, may not exceed ten percent (10%) of the area within the primary corporate limits of the annexing city. This subdivision does not apply to the Cities of Asheboro, Belmont, Claremont, Concord, Conover, Durham, Elizabeth City, Gastonia, Greenville, Hickory, Kannapolis,Locust, Marion, Mount Airy, Mount Holly, New Bern, Newton, Oxford, Randleman, Roanoke Rapids, Rockingham, Saluda, Sanford, Salisbury, Southport, Statesville, and Washington and the Towns of Ahoskie, Angier, Apex, Ayden, Benson, Bladenboro, Bridgeton, Bunn, Burgaw, Calabash, Carthage, Catawba, China Grove, Clayton, Columbia, Columbus, Cramerton, Creswell, Dallas, Dobson, Four Oaks, Franklin, Franklinton, Fuquay-Varina, Garner, Godwin, Granite Quarry, Green Level, Grimesland, Harrisburg, Holly Ridge, Holly Springs, Hookerton, Hope Mills, Huntersville, Jamestown, Kenansville, Kenly, Knightdale, Landis, Leland, Lillington, Louisburg, Maggie Valley, Maiden, Mayodan, Maysville, Middlesex, Midland, Mocksville, Morrisville, Mount Pleasant, Nashville, Oak Island, Ocean Isle Beach, Pembroke, Pine Level,  (2) (3) (4) (5)  within its primary corporate limits.    Pollocksville, Princeton, Ranlo, Richlands, Rolesville, Rutherfordton, Shallotte, Siler City, Smithfield, Spencer, Spring Lake, Stem, Stovall, Surf City, Swansboro, Taylorsville, Troutman, Troy, Wallace, Warsaw, Watha, Waynesville, Weldon, Wendell, West Jefferson, Wilson's Mills, Windsor,  Yadkinville, Youngsville, and Zebulon.  (bl). Repealed by Session Laws 2004-203, SS. 13(a) and 13(d), effective August 17,2004. (b2) A city may annex a noncontiguous area that does not meet the standard set out in subdivision (b)(2) of this section if the city has entered into an annexation agreement pursuant to Part 6 of this Article with the city to which a point on the proposed satellite corporate limits is closer and the agreement states that the other city will not annex the area but does not say that the annexing city will not annex the area. The annexing city shall comply with all other requirements (c) The petition shall contain the names, addresses, and signatures of all owners of real property within the proposed satellite corporate limits (except owners not required to sign by subsection (a)), shall describe the area proposed for annexation by metes and bounds, and shall have attached thereto a map showing the area proposed for annexation with relation to the primary corporate limits of the annexing city. When there is any substantial question as to whether the area may be closer to another city than to the annexing city, the map shall also show the area proposed forannexation with relation to the primary corporate limits of the other city. The city council may (d) A city council which receives a petition for annexation under this section may by ordinance require that the petitioners fileas signed statement declaring whether or not vested rights with respect to the properties subject to the petition have been established under G.S. 160A-385.1 orG.S. 153A-344.1.IFthe: statement declares that such rights have been established, the city may require petitioners to provide proofofsuchi rights. A statement which declares that no vested rights have been established under G.S. 160A-385.1 or G.S. 153A-344.1 shall be binding on the landowner and any such vested rights shall be terminated. (1973,c. 1173, S. 2; 1989 (Reg. Sess., 1990), C. 996, S. 4; 1997-2, S. 1;2001-37, S. 1; 2001-72, S. 1;2001-438, S. 1; 2002-121,s. 1; 2003- 30, S. 1;2 2004-203, S. 13(a), (c); 2004-57, S. 1; 2004-99, S. 1; 2004-203, SS. 13(a)-(d); 2005-52, S. 1; 2005-71, S. 1; 2005-79, S. 1;2 2005-173, S. 1;2005-433, S. 9; 2006-62, S. 1; 2006-122, S. 1;2 2006- 130, S. 1; 2007-17, S. 1; 2007-26, SS. 1, 2(a); 2007-62, S. 1; 2007-225, S. 1; 2007-311, S. 1; 2007- 342, S. 1; 2008-24, S. 1; 2008-30, S. 1; 2009-40, S. 2; 2009-53, S. 1; 2009-111, S. 1; 2009-156, S. 1; 2009-298, S. 1; 2009-323, S. 1; 2011-57, S. 1; 2012-96, S. 1; 2013-248, S. 1; 2014-30, S. 2(a); 2015-80, S. 1;2015-81, S. 2(a); 2015-172, S. 2; 2016-48, S. 2; 2018-56, S. 1; 2019-58, S. 1; 2019-  of this section.  prescribe the form of the petition.  103, S. 1; 2019-160, S. 1.)    ESOLUTIONE20240401  TOWN OF PRINCETON  8b  RESOLUTION FIXING DATE OF PUBLIC HEARING ON QUESTION  OF ANNEXATION PURSUANT TO G.S. 160A-31  WHEREAS, a petition requesting: annexation ofan area described as 2671Massey-Holt WHEREAS, the Board of Commissioners has by resolution directed the Town Clerk to WHEREAS, certification by the Town Clerk as to the: sufficiency of the petition has been NOW,THEREPORE, BEIT RESOLVED by the Board ofCommissioners of the Town of Section 1. Aj public hearing on the question of annexation oft the area described herein will be held at the Princeton Town Hall located at 503 Dr. Donnie H. Jones Jr Blvd West at 7:00  Road, Parcel 04P1109,herein has been received; and investigate the sufficiency of the petition; and  made;  Princeton that:  p.m. on May 6, 2024.  Section 2. The area proposed for annexation is described as follows:  THIRD TRACT:  (a) BEGINNING at a stake, corner of Lot No. 2, and runs and Sixty Pive Hundredths (9.65) acres, more or less.  with the line of said Lot S. 862 E. 1915 feet to a stake in W T Hinton's line, corner of Lot No. 2, thence with Hinton's line N. 264 w. 270 feet to a stake, corner of Lot No. 4, thence N. 864 W. 1775 feet to a stake, center of Princeton Road, thence with said Road S. 5W. 230 feet to the beginning, containing Nine PIFTH TRACT: BEOINNING at a stake in the çenter of the Princeton-Road, and runs with the line of Lot No. 3 S. 869 E. 1775 feet toa stake in WT Hinton's line, corner of Lot No. 3, thence with Hinton's line N. 269 W. 455 feet to a stake, Hinton's corner, thence West 4700 feet to a stake an the run of Moccasin Swamp, thence down the run of said Swamp to a black gum, corner of Lot No. 7, thence with the line of said Lot S. 89 E. 2350 feet to a stake,. corner of Lot No. 5, thence with the line of said Lot N. 82E. 490 Set to a large oak, thence s. 895 E. 348 feet to a stake in the center of the Princeton Road, thence s. 34-3/4 W. 120 feet toa. stake corner of Lot NO. 3, the beginning point, and containing THIRTY TIREE Section 3. Notice oft the public hearing shall be published in the Johnstonian News,a newspaper having general circulation in the Town of Princeton, at least ten (10) days prior  AND POUR TENTHS (33.4) ACRES, MORE OR LESS.  to the date oft the publichearing.  Stacy Johnson, Mayor  Attest:  April Williamson, Town Clerk    9  LGC-205  CONTRACT TO AUDIT ACCOUNTS  Rev. 11/2023  The Governing Board TOWN OF PRINCETON of Primary Government Unit Town ofl Princeton NA  and Discretely Presented Component Unit (DPCU) (ifa applicable)  Primary Govemment Unit, together with DPCU (if applicable), hereinafter. referred to as Govemmental Unit(s)  and Auditor Name Auditor Address  Thompson, Price, Scott, Adams & Co., P.A 4024 Oleander Dr., Suite 103, Wilmington, NC 28403  Hereinafter referred to as Auditor  for Fiscal Year Ending 06/30/24  Date Audit Will Be Submitted to LGC Must be within four months of FYE  10/31/24  hereby agree as follows:  1.  The Auditor shall audit all statements and disclosures required by U.S. generally accepted auditing standards (GAAS) and additional required legal statements and disclosures of all funds and/or divisions of the Governmental Unit(s). The non-major combining, and individual fund statements and schedules shall be subjected to the auditing procedures applied in the audit of the basic financial statements and an opinion shall be rendered in relation to (as applicable) the governmental activities, the business- type activities, the aggregate DPCUS, each major governmental and enterprise fund, and the aggregate remaining fund information (non- major government and enterprise funds, the internal service fund type, and the fiduciary fund types). The basic financial statements shall include budgetary comparison information in a budgetary comparison statement, rather than as RSI, for the General Fund and any annually budgeted Special Revenue funds. 2. Atar minimum, the Auditor shall conduct the audit and render the report in accordance with GAAS. The Auditor shall perform the audit in accordance with Govemnment Auditing Standards (GAGAS) if the Governmental Unit expended $100,000 or more in combined Federal and State financial assistance during the reporting period. The auditor shall perform a Single Audit if required by Title 2 US Code of Federal Regulations Part 200 Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart F (Uniform Guidance) or the State Single Audit Implementation Act. This audit and all associated audit documentation may be subject to review by Federal and State agencies in accordance with Federal and State laws, including the staffs of the Office of State Auditor (OSA) and the Local Government Commission (LGC). If the audit requires at federal single audit in accordance with the Uniform Guidance ($200.501), iti is recommended that the Auditor and Governmental Unit(s). jointly agree, in advance of the execution of this contract, which party is responsible for submission of the audit and the accompanying data collection form to the Federal Audit Clearinghouse as required under the Uniform Guidance ($200.512).  Effective for audits of fiscal years beginning on or after June 30, 2023, the LGC will allow auditors to consider whether a unit qualifies as a State low-risk auditee based upon federal criteria in the Uniform Guidance $200.520(a), and (b) through (e) as it applies to State awards. In addition to the federal criteria int the Uniform Guidance, audits must have been submitted timely to the LGC. Ifi in the reporting year, ori in either of the two previous years, the unit reported a Financial Performance Indicator of Concern that the audit was late, then  Page 1    LGC-205  CONTRACT TO AUDIT ACCOUNTS  Rev. 11/2023  the report was not submitted timely for State low-risk auditee status. Please refer to' Discussion of Single Ift the audit and Auditor communication are found ini this review to be substandard, the results of the review may be forwarded to the North Carolina State Board of CPA Examiners (NC State Board). 3. Ifan entity is determined to be a component of another government as defined by the group audit standards, the entity's auditor shall make a good faith effort to comply in a timely manner with the requests of This contract contemplates an unmodified opinion being rendered. If during the process of conducting the audit, the Auditor determines that it will not be possible to render an unmodified opinion on the financial statements of the unit, the Auditor shall contact the LGC Staff to discuss the circumstances leading to that conclusion as soon as is practical and before the final report is issued. The audit shall include such tests of the accounting records and such other auditing procedures as are considered by the Auditor to be necessary in the circumstances. Any limitations or restrictions in scope which would lead to a qualification should be fully 5. Ifthis audit engagement is subject to the standards for audit as defined in Govemment Auditing Standards, 2018 revision, issued by the Comptroller General of the United States, then by accepting this engagement, the Auditor warrants that he/she has met the requirements for aj peer review and continuing education as specified in Govemment. Auditing Standards. The Auditor agrees to provide a copy of the most recent peer review report to the Governmental Unit(s) and the Secretary of the LGC prior to the execution of an audit contract. Subsequent submissions of the report are required only upon report expiration or upon auditor's receipt of an updated peer review report. If the audit firm received a peer review rating other than pass, the Auditor shall not contract with the Governmental Unit(s) without first contacting the Secretary of the LGC for a Ift the audit engagement is not subject to Govemment Auditing Standards or if financial statements are not prepared in accordance with U.S. generally accepted accounting principles (GAAP) and fail to include all disclosures required by GAAP, the Auditor shall provide an explanation as to why in an attachment to this 6. Itis agreed that time is of the essence ini this contract. All audits are to be performed and the report of audit submitted to LGC Staff within four months of fiscal year end. If it becomes necessary to amend the audit fee or the date that the audit report will be submitted to the LGC, an amended contract along with a written 7. Itis agreed that GAAS include a review of the Governmental Unit's (Units') systems of internal control and accounting as same relate to accountability of funds and adherence to budget and law requirements applicable thereto; that the Auditor shall make a written report, which may or may not be a part oft the written report of audit, to the Governing Board setting forth his/her findings, together with his recommendations for improvement. That written report shall include all matters defined as "significant deficiencies and material weaknesses" in AU-C 265 of the. AICPA Professional Standards (Clarified). The. Auditor shall file a copy of that For GAAS or Govemment Auditing Standards audits, if an auditor issues an AU-C $260 report, commonly referred to as Governance Letter," LGC staff does not require the report to be submitted unless the auditor cites significant findings or issues from the audit, as defined in AU-C $260.12-.1 .14. This would include issues such as difficulties encountered during the audit, significant or unusual transactions, uncorrected misstatements, matters that are difficult or contentious reviewed with those charged with govemance, and other significant matters. If matters identified during the audit were required to be reported as described in AU-C $260.12-.14 and were communicated in a method other than an AU-C $260 letter, the written  Audits in North Carolina" on the LGC's website for more information.  the group auditor in accordance with AU-6 $600.41 - $600.42.  4.  explained in an attachment to this contract.  peer review analysis that may result in additional contractual requirements.  contract or in an amendment.  explanation of the change shall be submitted to the Secretary of the LGC for approval.  report with the Secretary of the LGC.  documentation must be submitted.    LGC-205  CONTRACT TO AUDIT ACCOUNTS  Rev. 11/2023  8. All local government and public authority contracts for audit or audit-related work require the approval of the Secretary of the LGC. Thisi includes annual or special audits, agreed upon procedures related to internal controls, bookkeeping or other assistance necessary to prepare the Governmental Unit's records for audit, financial statement preparation, any finance-related investigations, or any other audit- related work in the State of North Carolina. Approval is also required for the Alternative Compliance Examination expenditures as allowed by US Treasury. Approval is not required on audit contracts and invoices for  Engagement for auditing the Coronavirus State and Local Fiscal Recovery Funds system improvements and similar services of a non-auditing nature.  9. Invoices for services rendered under these contracts shall not be paid by the Governmental Unit(s) until the invoice has been approved by the Secretary of the LGC. This also includes any progress billings [G.S. 159-34 and 115C-447]. All invoices for audit work shall be submitted in PDF format to the Secretary oft the LGC for approval. the invoice marked 'approved' with approval date shall be returned to the Auditor to present to the Governmental Unit(s) for payment. This paragraph is not applicable to contracts for audits 10. Inc consideration of the satisfactory performance of the provisions of this contract, the Governmental Unit(s) shall pay to the Auditor, upon approval by the Secretary of the LGC ifr required, the fee, which includes any costs the Auditor may incur from work paper or peer reviews or any other quality assurance program required by third parties (federal and state grantor and oversight agencies or other organizations) as required under the Federal and State Single Audit Acts. This does not include fees for any pre-issuance reviews that may be required by the NC Association of CPAS (NCACPA) Peer Review Committee or NC State 11. Ifthe Governmental Unit(s) has/have outstanding revenue bonds, the Auditor shall submit to LGC Staff, either in the notes to the audited financial statements or as a separate report, a calculation demonstrating compliance with the revenue bond rate covenant. Additionally, the Auditor shall submit to LGC Staff simultaneously with the Governmental Unit's (Units') audited financial statements any other bond compliance statements or additional reports required by the authorizing bond documents, unless otherwise specified in the 12. After completing the audit, the Auditor shall submit to the Governing Board a written report of audit. This report shall include, but not be limited to, the following information: (a) Management's Discussion and Analysis, (b) the financial statements and notes of the Governmental Unit(s) and all of its component units prepared in accordance with GAAP, (c) supplementary information requested by the Governmental Unit(s) or required for full disclosure under the law, and (d) the Auditor's opinion on the material presented. The Auditor shall furnish the 13. Ift the audit firm is required by the NC State Board, the NCACPA Peer Review Committee, or the Secretary of the LGC to have a pre-issuance review of its audit work, there shall be a statement in the engagement letteri indicating the pre-issuance review requirement. There also shall be a statement that the Governmental Unit(s) shall not be billed for the pre-issuance review. The pre-issuance review shall be performed prior to the completed audit being submitted to LGC Staff. The pre-issuance review report shall accompany the  ofh hospitals.  Board of CPA Examiners (see Item 13).  bond documents.  required number of copies of the report of audit to the Governing Board uponcompletion.  audit report upon submission to LGC Staff.  Page 3    LGC-205  CONTRACT TO AUDIT ACCOUNTS  Rev. 11/2023  14. The Auditor shall submit the report of audit in PDF format to LGC Staff. For audits of units other than hospitals, the audit report should be submitted when (or prior to) submitting the final invoice for services rendered. The report of audit, as filed with the Secretary of the LGC, becomes a matter of public record for inspection, review and copy in the offices of the LGC by any interested parties. Any subsequent revisions to these reports shall be sent to the Secretary of the LGC. These audited financial statements, excluding the Auditors' opinion, may be used in the preparation of official statements for debt offerings by municipal bond rating services to fulfill secondary market disclosure requirements of the Securities and Exchange Commission and for other lawful purposes of the Governmental Unit(s) without requiring consent of the Auditor. If the LGC Staff determines that corrections need to be made to the Governmental Unit's (Units') financial statements and/ or the compliance section, those corrections shall be provided within three business days of notification unless 15. Should circumstances disclosed by the audit call for a more detailed investigation by the Auditor than necessary under ordinary circumstances, the Auditor shall inform the Governing Board in writing of the need for such additional investigation and the additional compensation required therefore. Upon approval by the Secretary of the LGC, this contract may be modified or amended toi include the increased time, compensation, 16. Ifan approved contract needs to be modified or amended for any reason, the change shall be made in writing and pre-audited if the change includes a change in audit fee (pre-audit requirement does not apply to hospitals). This amended contract shall be completed in full, including a written explanation of the change, signed and dated by all original parties to the contract. It shall then be submitted to the Secretary of the LGC for approval. No change to the audit contract shall be effective unless approved by the Secretary of the LGC. 17. Acopy of the engagement letter, issued by the Auditor and signed by both the Auditor and the Governmental Unit(s), shall be attached tot this contract, and except for fees, work, and terms not related to audit services, shall bei incorporated by reference as if fully set forth herein as part of this contract. In case of conflict between the terms of the engagement letter and the terms of this contract, the terms of this contract shall take precedence. Engagement letter terms that conflict with the contract are deemed to be void unless the conflicting terms of this contract are specifically deleted in Item 30 of this contract. Engagement letters containing 18. Special provisions should be limited. Please list any special provisions in an attachment. 19. As separate contract should not be made for each division to be audited or report to be submitted. Ifa DPCU is subject tot the audit requirements detailed in the Local Government Budget and Fiscal Control Act and as separate audit report is issued, a separate audit contract is required. If a separate report is not to be issued and the DPCU is included in the primary government audit, the DPCU shall be named along with the primary government on this audit contract. DPCU Board approval date, signatures from the DPCU Board chairman and 20. The contract shall be executed, pre-audited (pre-audit requirement does not apply to hospitals), and physically signed by all parties including Governmental Unit(s) and the Auditor, then submitted in PDF format to 21. The contract is not valid until it is approved by the Secretary of the LGC. The staff of the LGC shall notify the Governmental Unit and Auditor of contract approval by email. The audit should not be started before the 22. Retention of Client Records: Auditors are subject to the NC State Board of CPA Examiners' Retention of Client Records Rule 21 NCAC 08N .0305 as it relates to the provision of audit and other attest services, as well as non-attest services. Clients and former clients should be familiar with the requirements of this rule prior to  another deadline is agreed to by LGC Staff.  or both as may be agreed upon by the Governing Board and the Auditor.  indemnification clauses shall not be accepted by LGC Staff.  finance officer also shall be included on this contract.  the Secretary of the LGC. contract is approved.  requesting the retum of records.  Page 4    LGC-205  CONTRACT TO AUDIT ACCOUNTS  Rev. 11/2023  23. This contract may be terminated at any time by mutual consent and agreement of the Governmental Unit(s) and the Auditor, provided that (a) the consent to terminate is in writing and signed by both parties, (b) the parties have agreed on the fee amount which shall be paid to the Auditor (if applicable), and (c) no 24. The Governmental Unit's (Units') failure or forbearance to enforce, or waiver of, any right or an event of breach or default on one occasion or instance shall not constitute the waiver of such right, breach or 25. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be enforceable unless entered into in accordance with the procedure set out herein and approved 26. E-Verify. Auditor shall comply with the requirements of NCGS Chapter 64 Article 2. Further, ifA Auditor utilizes any subcontractor(s), Auditor shall require such subcontractor(s) to comply with the requirements of 27. Applicable to audits with fiscal year ends of June 30, 2020 and later. For all non-attest services, the Auditor shall adhere to the independence rules of the AICPA Professional Code of Conduct and Government Auditing Standards, 2018 Revision (as applicable). Financial statement preparation assistance shall be deemed a "significant threat" requiring the Auditor to apply safeguards sufficient to reduce the threat to an acceptable level. If the Auditor cannot reduce the threats to an acceptable level, the Auditor cannot complete the audit. If the Auditor is able to reduce the threats to an acceptable level, the documentation of this determination, including the safeguards applied, must be included in the audit workpapers. All non-attest service(s) being performed by the Auditor that are necessary to perform the audit must be identified and included in this contract. The Governmental Unit shall designate an individual with the suitable skills, knowledge, and/or experience (SKE) necessary to oversee the services and accept responsibility for the results of the services performed. If the Auditor is able to identify an individual with the appropriate SKE, s/he must document and include in the audit workpapers how he/she reached that conclusion. If the Auditor determines that an individual with the appropriate SKE cannot be identified, the Auditor cannot perform both the non-attest service(s) and the audit. See "Fees for Audit Services" page of this contract to disclose the 28. Applicable to audits with fiscal year ends of. June 30, 2021 and later. The auditor shall present the audited financial statements including any compliance reports to the government unit's governing body or audit committee in an official meeting in open session as soon as the audited financial statements are available but not later than 45 days after the submission of the audit report to the Secretary. The auditor's presentation to the government unit's governing body or audit committee shall include: a) the description of each finding, including all material weaknesses and significant deficiencies, as found by the auditor, and any other issues related to the internal controls or fiscal health of the government unit as disclosed in the management letter, the Single Audit or Yellow Book reports, or any other communications from the auditor regarding internal controls as required by current auditing c) the values of Financial Performance Indicators based on information presented in the audited d) notification to the governing body that the governing body shall develop a "Response to the Auditor's Findings, Recommendations, and Fiscal Matters," if required under 20 NCAC 03 .0508. 29. Information based on the audited financial statements shall be submitted to the Secretary for the purpose of identifying Financial Performance Indicators and Financial Performance Indicators of Concern. See 20  termination shall be effective until approved in writing by the Secretary of the LGC.  default on any subsequent occasion or instance.  by the Secretary of the LGC. NCGS Chapter 64, Article 2.  person identified as having the appropriate SKE for the Governmental Unit.  standards set by the Accounting Standards Board or its successor;  b) the status of the prior year audit findings;  financial statements; and  NCAC 03 .0502(c)(6).  Page 5    LGC-205  CONTRACT TO AUDIT ACCOUNTS  Rev. 11/2023  30. All of the above paragraphs are understood and shall apply to this contract, except thei following  numbered paragraphs shall be deleted (See Item 171 for clarification).  31. The process for submitting contracts, audit reports and invoices is subject to change. Auditors and units should use the submission process and instructions in effect at the time of submission. Refer to the N.C. Department of State Treasurer website at https:/www.nctreasurer.comistate-and-oca- government-finance-divsion/pca-government-commssionsucmiting-your-audit to the email addresses provided on the signature pages that follow.  32. All communications regarding audit contract requests for modification or official approvals will be sent 33. Modifications to the language and terms contained in this contract form (LGC-205) are not allowed.  Page 6    LGC-205  CONTRACT TO AUDIT ACCOUNTS FEES FOR AUDIT SERVICES  Rev. 11/2023  1. For all non-attest services, the Auditor shall adhere to the independence rules of the AICPA Professional Code of Conduct (as applicable) and Govemment Auditing Standards, 2018 Revision. Refer to Item 27 of this contract for specific requirements. The following information must be provided by the Auditor; contracts Financial statements were prepared by: Auditor Governmental Unit Third Party If applicable: Individual at Governmental Unit designated to have the suitable skills, knowledge, and/or experience (SKE) necessary to oversee the non-attest services and accept responsibility for the  presented to the LGC without this information will be not be approved.  results of these services: Name: Michael King  Title and Unit/Company: Finance/Princeton  Email Address: mkg@myprincetomecon  OR Not Applicable (Identification of SKE Individual on the LGC-205 Contract is not applicable for  GAAS-only audits or audits with FYES prior to. June 30, 2020.)  2. Fees may not be included in this contract for work performed on Annual Financial Information Reports (AFIRs), Form 990s, or other services not associated with audit fees and costs. Such fees may be included in the engagement letter but may not be included ini this contract or in any invoices requiring approval of the LGC. See 3. The audit fee information included in the table below for both the Primary Government Fees and the DPCU Fees (if applicable) should be reported as a specific dollar amount of audit fees for the year under this contract. If any language other than an amount is included here, the contract will be returned to the audit form for correction. 4. Prior to the submission of the completed audited financial report and applicable compliance reports subject to this contract, or to an amendment to this contract (if required) the Auditor may submit interim invoices for approval for services rendered under this contract to the Secretary of the LGC, not to exceed 75% of the billings for the unit's last annual audit that was submitted to the Secretary of the LGC. All invoices for services rendered in an audit engagement as defined in 20 NCAC .0503 shall be submitted to the Commission for approval before any payment is made. Payment before approval is a violation of law. (This paragraph not applicable to contracts  Items 8 and 13 for details on other allowable and excludedi fees.  and invoices associated with audits of hospitals).  Primary Government Unit  Town of Princeton $3 3000.00 ifa applicable  Audit Fee (financial and compliance if applicable) $ 17000.00 Fee per Major Program (if not included above) Financial Statement Preparation (incl. notes and RSI)s All Other Non-Attest Services TOTAL AMOUNT NOT TO EXCEED Discretely Presented Component Unit Audit Fee (financial and compliance if applicable) $ Fee per Major Program (if not included above) Financial Statement Preparation (incl. notes and RSI) $ All Other Non-Attest Services TOTAL AMOUNT NOT TO EXCEED  Additional Fees Not Included Above (if applicable):  $ $ NA $  26,000  Additional Fees Not Included Above (if applicable):  $ $ Page 7    LGC-205  CONTRACT TO AUDIT ACCOUNTS  Rev. 11/2023  SIGNATURE PAGE AUDIT FIRM  Audit Firm*  Thompson, Price, Scott, Adams & Co., P.A  Authorized Firm Representative (typed or printed)* Signature*  Gregory S. Adams, CPA Date*  Email Address* gadams@tpsacpas.com  GOVERNMENTAL UNIT  Governmental Unit* Town of Princeton Date Governing Board Approved. Audit Contract* (Enter date in box to right) Mayor/Chairperson (typed or printed)* Stacy Johnson Date 04/01/24  Signature* Email Address* syphnmémyptiscmecon  Chair of Audit Committee (typed or printed, or "NA") Signature  NA Date  Email Address  GOVERNMENTAL UNIT = PRE-AUDIT CERTIFICATE  Required by G.S. 159-28(a1) or G.S. 115C-441(a1). Not applicable to hospital contracts. This instrument has been pre-audited in the manner required by The Local Govemment Budget and Fiscal  Control. Act or by the School Budget and Fiscal Control Act.  Sum Obligated by This Transaction:  $  26,000  Primary Governmental Unit Finance Officer* (ypedor printed Signature*  Michael King, Finance Date of Pre-Audit Certificate* 04/01/24  Muchaelking  Email Address* mang@mypnceomcon  Page 8    LGC-205  CONTRACT TO AUDIT ACCOUNTS SIGNATURE PAGE - DPCU (complete only if applicable)  Rev. 11/2023  DISCRETELY PRESENTED COMPONENT UNIT  DPCU* NA  Date DPCU Governing Board Approved. Audit Contract* (Enter date in box to right) DPCU Chairperson (typed or printed)*  Signature* Email Address*  Date*  Chair of Audit Committee (typed or printed, or "NA") Signature  Date  Email Address  DPCU = PRE-AUDIT CERTIFICATE  Required by G.S. 159-28(a1) or G.S. 115C-441(a1). Not applicable to hospital contracts.  This instrument has been pre-audited in the manner. required by The Local Govemment Budget and Fiscal  Control Act or by the School Budget and Fiscal Control Act.  Sum Obligated by this Transaction: DPCU Finance Officer (typed or printed)* Date of Pre-Audit Certificate*  $ Signature* Email Address*  Remember to print this form, and obtain all required signatures prior to submission.  PRINT  Page 9    ID  MORDECAI TELLBAREPOOT ENDOWMENT AGREEMENT  January1,2012  THIS ENDOWMENT. AGREEMENTI is between James P. George (Donor) and The Town of Princeton, North Carolina. The donor wishes to establish ane endowment ofTwenty thousand dollars ($20,000.00) as of] January 1,2012 as well as an agreement which thel Princeton Appearance Commission! Town shall administer. This endowment is createdi inl honor of Mordecai Telll Barefoot, Maternal Grandfather oft the donor. All persons and organizations making contribution to this endowment fund, and those who administer its shall be bound by the  terms ofthis Agreement.  Terms of Agreement:  1.N Name ofl Fund:" Thee endowment fund hereby created shall bel known ast thel M.T. Barefoot Beautification Fund hereafter referred to ast thel M.T.) Barefoot Fund orl Fund. 2.) Investment: and Expenditure of Principal and Interest: Itist thei intents andy purpose of the parties tot this Agreement that the principal ofTwenty thousand ($20,000.00): as ofFebruary 1, 2012 and subsequent additions will be maintained inj perpetuity as al PERMANENT endowment fund. Thei income: from which ist to be used to support projects undertaken by and att the direction oft the Appearance Commission/Town: consistent with the provisions oft this Agreement. Only" The Town of] Princeton shalll be responsible for thei investment oft the funds, the security ofthei funds, 3. Purpose and uses of thel Funds: Thel Fundi ist tol be used to support beautification; projects undertaken byi individuals (first priority), civic clubs, non-profit organizations, (including churches), Appearance Commission, and the' Town ofF Princeton tol beautify' "neighborhoods". and other public placesi in the Town of Princeton. To that end, ONLY the Appearance Commision/Sucessor ort the' Town can expend only the ANNUAL income (interest, dividends, earnings) from the endowment principal during any given fiscal year toward approved projects in that fiscal year. Any income thati is not either spent or encumbered byt the end of the fiscal yeari in whichi iti is earned shall be added to the principal endowment to ensure growth oft thel Fund, to account for inflation and to assure that thei income is being spent annually. Thet term' "encumbered" shall mean that aj purchase order has been issued prior to. June Ist of the: fiscal year, andt that the bill is rendered for payment by) June 30t th. Thet term' "fiscal year" shall mean the' Town of Prinçeton's fiscal year. Thisl Fundi is "an ADDITION, not to supplant any other funds or Town expenditures". 4.TypesofP Projects: Thet type ofp project on which thei interesti income may! be expended int this a. Planting oft trees, shrubs, bushes, flowers, vines, vegetable gardens, flower gardens and grass lawns. The cost oflabor, materials, transportation and others site preparation expenses (including cutting down trees and grinding upi its stumps for replacement only of another  and disbursement of the funds from the endowment.  Thee endowment! Fundi isl NOTt to be spent! Agreement is as follows:  Page 10 of11  5M  D6 NDA    Account Name  Account Details  Account Total $28,057.46  $Change $0.25  Projected Annual Income $2,022.80  Town Of Princeton Stfel-5382-1574- Associated  Asof 3/25/2024    KSD BANK  March 20, 2024 Town of Princeton Attn: Mr. Michael King PO Box 67 Princeton, NC 27569 RE: Barefoot Endowment Fund  Dear Mr. King:  Thank you for your inquiry as to some deposit account options that KS Bank can offer to the Town of Princeton for the purpose of the Mordecai Barefoot Endowment Fund. We havea couple of choices for the Town to consider, and of course, these funds would be FDIC covered. The interest plans listed below will be valid for a 30 day period from today, and after that, the  Bank will need to re-quote these rates. CERTICATE OF DEPOSITS  1. 5N Month CD with an APY of 4.26%, interest posted monthly 2.- 8 Month CD with an APY of 4.65%, interest posted monthly  MONEY MARKET ACCOUNT  1. We can offer our Municipal Money Market deposit account with an APY-of0.75%6.. : on Money Market accounts, funds are available at anyt time, without a maturity date.. Thanks again for your interest in KS Bank, and we look forward to continuing to serve any  banking needs for the Town of Princeton.  KSBANK, INC. 1601 Waynel Memoriall Drive Goldsbora,NC27534 (919)736-1000 Fax (919)736-9911    Sinçerely,. ibak David Barber City Executive    Town of PRINCETON  II  STACY. JOHNSON Mayor  Est 1873  MICHAEL KING Town Administrator  April 1, ,2024 The LGC FPIC Team  NC Department of State Treasurer State and Local Government Finance Division  3200 Atlantic Ave. Raleigh, NC27604 Dear LFC Team,  In response to your concerns from our 2022-2023 fiscal year audit, Iv would like to report that the Town of Princeton board has reviewed the concerns and plan to address those  accordingly.  The first item mentioned was water and sewer capital assets ratio. The Town of Princeton is in the process of a design and construction of a new waste water treatment plant expansion of 300,000 gpd. We are also inspecting all vehicles and/or equipment that  should be replaced.  The second item mentioned is date of submittal. The submittal was delayed due to new staffing and coordinating with the previous administration to prepare the audit in a timely manner. At this time staff has been working hard to make sure all deadlines are met SO  that we can prepare and submit the FY23-24 audit in a timely manner.  The third item mentioned was budget violations. Expenditures are being carefully monitored to stay within budget however, there were some items over budget that will be corrected with budget amendments. We plan to focus on our budgeting needs for FY24-25  at our upcoming budget retreats.  The fourth item mentioned is statutory violations in which the board accepts and is knowledgably about. This is a $20,000 endowment that was contributed to the town in  2012.  "Peaceful, Pleasant, Progressive, and Proud" Town of Princeton is an Equal Opportunity Provider and Employer www.myprincetonnc. .com 503 Dr. Donnie H. Jones, Jr. Blvd' West, Princeton, NC27569 Office: (919)936-8171 Fax: (919)936-2842 Office Hours: M-F 8AM-5PM  dmadmprictomcson  mAni@mypingconscon    Town of PRINCETON  MICHAEL KING Town. Administrator  STACYJ JOHNSON Mayor  Est 1873  Please call me if you have any questions.  Sincerely,  Michael King Town Administrator Michaelking Mayor, Stacy Johnson Mayor Pro-Tem Michael Rose Commissioner, Michael Holmes commissioner, Broderick Robinson commissioner, Walter Martin  April Williamson, Town Clerk  "PEACEFUL, PLEASANT, PROGRESSIVE, AND PROUD" Town of Princcton isa anf Equal Opportunity Provider and Employer wwmprinsctomnecam 503 Dr. Donniel H. Jones, Jr. Blvd West. Princeton, NC 27569 Oflice: (919)936-8171 Fax: (919)936-2842 Office llours: M-F 8AM-5PM  2