LGC Reporting Requirements and Due Dates

The staff of the Local Government Commission (LGC) provides resources, support, and monitoring to ensure units of local government, public authorities, and others fulfill their reporting requirements to the Secretary of the LGC as required under the Local Government Budget and Fiscal Control Act (LGBFCA) and the School Budget and Fiscal Control Act (SBFCA). The table below provides a summary of reporting requirements related to those Acts and links to the resources we provide. Reminders, announcements, and updates regarding these topics are posted to the LGC Staff Blog.  Use the “Sign Up” button on that page to receive email notifications whenever new blogs are posted. This blog is the best way to stay up to date with news from the LGC and receive reminders of reports and deadlines. If you have any questions on the information presented on this page, please contact SLGFD@nctreasurer.com.

Please note: This is not a complete list of all reports required of local governments and public authorities but represents only those required to be submitted to the Secretary of the LGC under the LGBFCA and SBFCA. For a more comprehensive list of reporting requirements and deadlines for counties and municipalities, please refer to the UNC School of Government’s “Finance Calendar of Duties for City and County Officials.”

Definitions

For definitions of the following terms, please refer to the statute referenced.

Local Government §159-7
Public Authority §159-7
School: Local school administrative unit §115C-5
Charter School §115C Article 14A

Public hospitals: (includes: (1) hospitals owned or operated by cities or counties (NCGS §131E Article 2 Part 1), (2) hospitals owned or operated by hospital authorities (NCGS §131E Article 2 Part 2), (3) hospitals owned or operated by hospital districts (NCGS §131E Article 2 Part 3)) 

§159-39

§131E Article 2

Hospital authority: Hospital authorities are “public authorities” §159-7
Hospital district: Hospital districts are “units of local government” §159-7
Additional definitions and guidance are offered by the UNC School of Government

Special Purpose Local Governments and Public Authorities

 

References

Local Government Budget and Fiscal Control Act (LGBFCA): NCGS §159 Article 3 School Budget and Fiscal Control Act (SBFCA): NCGS §115C

LGC Reporting Requirements and Due Dates

Requirement Applies To Statutory Reference Deadline Frequency of Requirement
Audit Contract

All units of local government and public authorities subject to LGBFCA, all schools subject to SBFCA and all public hospitals

Note: All audit contracts (other than for charter schools and for public hospitals under 159-39(f)) are subject to pre-audit requirement under NCGS §159-28(a1) and NCGS §115C-441(a1)

Excluded from this requirement:
housing authorities

LGBFCA: §159-34(a)
SBFCA: §115C-447
Public hospitals: §159-39(f)

 

 

Housing authorities: §159-42

Contracts must be approved by the LGC prior to auditor beginning work on annual audit; failure to receive LGC approval prior to start of audit is a violation of statute. If an audit is submitted after the grace period due date, an amended contract must be submitted.

Anually
Audit Invoices

All units of local government and public authorities subject to LGBFCA, all schools subject to SBFCA

 

Excluded from this requirement:
public hospitals
housing authorities

LGBFCA: §159-34(a)
SBFCA: §115C-447

 

Public hospitals: §159-39(f)
Housing authorities: §159-42

Prior to payment of auditor invoices; failure to receive LGC approval prior to payment of invoices is a violation of statute. Annually
Annual Audit

All units of local government and public authorities subject to LGBFCA, all schools subject to SBFCA, all public hospitals

LGBFCA: §159-34(a)
SBFCA: §115C-447
Public hospitals: §159-39(f)

October 31 for units with FYE June 30 (10 months after FYE for housing authorities, 4 months after FYE for all other units)

*Note – deadline for audit reports for FYE June 30, 2020 has been extended to January 31, 2021

Annually
Annual Financial Information Report (AFIR) Counties and municipalities §159-33.1 October 31 Annually
Cash and Investment Report (LGC-203)

All units of local government and public authorities subject to LGBFCA, all schools subject to SBFCA, all public hospitals

Excluded from this requirement:
Charter schools

NOTE: Collateralization of public funds is  required by §159-31. An annual collateralization report (COLL-91) is due each July 31 to the Financial Operations Division of the Department of State Treasurer. Please refer to Collateralization of Public Deposits webpage for more information, report forms, and instructions.

LGFFCA: §159-33
SBFCA: §115C-446
Public hospitals: §159-39(j)

January 25 and July 25 Semi-Annually
Report of Payment on Outstanding Debt  (LGC-131 Monthly Debt Service Notice) All local governments and public authorities  with outstanding bonds or notes are issued notifications of payment due at least 30 days before due date by the Secretary of the LGC (as required by §159-35); payments must be reported by units to the LGC on form LGC-131.

§159-136

When installment payments are made Other - Based on terms of debt
*NEW - COVID-19 Financial Impact Report

Counties, municipalities, water districts and authorities, sewer districts and authorities, sanitary districts, and metropolitan sewage districts.

Session Law 2020-3 Section 4.29,(a), amending NCGS §159-33.1 February 15, 2021 One-time reporting requirement

 

Other Reports

These reports, although not due to the Secretary of the LGC, are associated with the work of, or managed by the staff of, the LGC.

Requirement Applies To Statutory Reference Deadline Frequency
of Requirement
Register of Deeds Fees Report Counties §161-11.5 10th of each month Monthly
Continuing Disclosure Filing with Electronic Municipal Market Access (EMMA) Issuers of publicly traded debt that is subject to continuing disclosure requirements outlined by the Securities and Exchange Commission. LGC staff emails reminders to units subject to disclosure requirements in November of each year. SEC Rule 15c2-12 January 31 for units with FYE June 30 (all other units have 7 months after FYE) Annually