The Balance Sheet

The Balance Sheet

The Balance Sheet is the blog of the Local Government Commission staff. Click below to sign up to receive email alerts when new blog posts are released.

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Process for Receiving Cashflow Loans

A new memo has been posted to the Department of State Treasurer website that explains the process required for local governments to receive cashflow loans.

Update to Information on Cashflow Loan Program

An update has been made to the submission dates associated with the cashflow loan program administered by the Department of State Treasurer for local governments in the area affected by Hurricane Helene.

Hurricane Helene Cashflow Loan Program

Please see the Department of State Treasurer website for information regarding the cashflow loan program administered by the Department of State Treasurer for local governments in the area affected by Hurricane Helene.

Spring 2025 Local Government Finance Class Starts Soon

Registration is now open for Central Piedmont Community College’s online offering of "Local Government Finance in North Carolina – A Practical Approach". This course is a great opportunity to learn about the basics of local government finance and the requirements of the Local Government Budget and Fiscal Control Act.

LGC-203 Due January 25, 2025

Reminder: the LGC-203 / COLL-91 Cash and Investments report for the December 31, 2024, reporting period is due on or before January 25, 2025. You will be able to initiate and submit your units LGC-203 / COLL-91 report with information as of December 31, 2024, via the LOGOS system beginning on January 1, 2025.

FY2025 Audit Due Dates

LGC staff is aware of the many challenges facing local governments in fulfilling their obligation under the Local Government Budget and Fiscal Control Act to submit an annual independent audit timely.

FY2024 Financial Statement Resources Now Available

Carolina County and the City of Dogwood Illustrative Statements and Financial Statement Resources which includes the Conversion Workbook, Conversion Workbook for OPEB Trust – Blank, and Conversion Workbook for no OPEB Trust -Blank for the fiscal year ended June 30, 2024 are now available on our 

Contract Amendment Date Extension For Certain Units

We have been informed that DHHS discovered a data issue with the DAAS Audit Confirmation information due to the consolidation of NCAS and NCFS data for FY24. These reports have now been updated.

Updated FY2024 DIWs

LGC staff have identified and corrected issues with Data Input Workbooks (DIWs) for:

  • Municipalities
  • Boards of Education K-Z
     

Action Required
If you are a unit in one of these categories and:

FY2024 Annual Financial Information Report (AFIR)

Reminder for all counties and municipalities: The fiscal year 2024 Annual Financial Information Report (AFIR) template is now available. The AFIR must be submitted by all counties and municipalities; other unit types are not required to submit this report.

Helene and LGC Due Dates

Staff of the LGC, along with staff of the entire Department of State Treasurer, extends our thoughts to everyone in western North Carolina and all those impacted by the devastation of Hurricane Helene.

FY2024 Audit Report Resources Now Available

Resources and instructions for submission of FY2024 audit reports are now available on our Submitting Your Audit webpage, including 

FY2024 Audit Resources

LGC staff is working to make FY2024 audit resources available in the coming weeks, including Data Input Workbooks and illustrative financial statements. Be on the look-out for blog post announcements when these resources are available.  DIWs are scheduled for availability by September 20 with other resources to be published as soon as possible.

2024 Annual Financial Information Report (AFIR)

The process for counties and municipalities to submit their Annual Financial Information Report (AFIR) is changing. Beginning with FY2024 AFIRs, the U.S. Census Bureau will no longer be providing a website for AFIR uploads. Department of State Treasurer staff is working on an alternate method for submission and details will be announced soon.

Please note:

Fall Offering of Local Government Finance Class

The "Local Government Finance" course is a great opportunity to learn about the basics of local government finance and the requirements of the Local Government Budget and Fiscal Control Act.