2022 Debt Application Due Dates

A unit of government with a June 30 fiscal year end that is seeking debt approval in November or a later month will need to have the fiscal year 2021 audited financial statements and other documents submitted to the LGC staff before the application can proceed.  Below are the deadlines for calendar year 2022. 

LGC Meeting Date Application Due Date Audit Due Date Response Letter Due Date (if applicable)*
November 2, 2021

October 5, 2021

October 15, 2021
(June 30, 2021 audit)
 
December 7, 2021 November 9, 2021 November 19, 2021
(June 30, 2021 audit)
 
January 11, 2022 December 7, 2021 December 10, 2021 December 10, 2021
February 1, 2022 January 4, 2022 January 14, 2022 January 14, 2022
March 1, 2022 February 1, 2022 February 11, 2022 February 11, 2022
April 5, 2022 March 8, 2022 March 18, 2022 March 18, 2022
May 3, 2022 April 5, 2022 April 14, 2022 April 14, 2022
June 7, 2022 May 3, 2022 May 13, 2022 May 13, 2022
July 12, 2022 June 7, 2022 June 17, 2022 June 17, 2022
August 2, 2022 July 5, 2022 July 15, 2022 July 15, 2022
September 13, 2022 August 9, 2022 August 19, 2022 August 19, 2022
October 4, 2022

September 6, 2022

September 16, 2022 September 16, 2022
November 1, 2022 October 4, 2022 October 14, 2022
(June 30, 2022 Audit)
October 14, 2022
December 6, 2022 November 1, 2022 November 18, 2022
(June 30, 2022 Audit)
November 18, 2022

*Response Letter in accordance with 20 NCAC 03.0508, as applicable. Please see the 2021 Audit Process webpage for information on developing and submitting FPIC Response Letters. 

If the unit’s audit identifies any Financial Performance Indicators of Concern, the response letter related to those concerns will need to be submitted earlier than the 60-day time frame outlined in the administrative code. The unit’s audit response letter will be due to LGC staff the same day the audit report is due. A unit’s response to financial performance indicators of concern is included as information in the LGC’s agenda packet and the compressed time is required for units that choose to be on the agenda. 

For example, assume a municipality submitted their 2021 audit to the LGC on November 1, 2021, and a debt application for the January 2022 agenda on December 1, 2021. Typically, the auditor would have 45 calendar days from November 1 to present the audit to the board and the unit would then have 60 days from the presentation date to send their response. In this scenario, the response letter would be due February 15, 2022, at the latest. Because the unit is seeking debt approval on the January agenda, the unit’s response letter must be received by December 10, 2021, the due date for audits on the January agenda. It is important for units that plan to be on the LGC agenda are aware of this deadline. 

A webpage dedicated to assist units of government in preparing their response letters can be found at NC Treasurer: 2021 Audit Process

Please send any questions or requests to SLGFD@nctreasurer.com.