The Balance Sheet

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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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For announcements and resources related to ARPA funds and the impacts of COVID-19, visit our Local Government ARPA Resources page.

ARPA Resources

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Compliance Requirements for Revenue Replacement Expenditures

Coates’ Canons Blogpost Provides Details

Revised Illustrative Financial Statements for Carolina County Now Available

Revisions Related to ARPA and Opioid Settlement Funds

Updates Coming to Carolina County Illustrative Financial Statements

Changes to Address Reporting of ARPA and Opioid Settlement Funding

Debt Inquiry Form Now Available

Are you a local government or public authority in North Carolina that:

GASB 87 – Leases : Frequently Asked Questions

To assist NC local governments with implementing Governmental Accounting Standards Board (GASB) Statement No.

2022 Annual Financial Information Report (AFIR)

Reminder for all counties and municipalities: The 2022 Annual Financial Information Report (AFIR) is now available on the U.S.

ARP: UG and SOG Office Hours

Two quick reminders related to ARP:

Important Updates to Data Input Workbooks

The 2022 Data Input Workbooks that were posted in late August have been updated to address several issues that were identified by auditors and LGC staff.

Memo 2023-05: Issues related to audits for FYE June 30, 2022

Last week, the State and Local Government Finance Division issued Memo No. 2023-05 that discusses various issues related to audits for fiscal year ended June 30, 2022.  Specifically,

  1. Coronavirus State Local Fiscal Recovery Funds (CSLFRF)

FY2022 Audit Report Resources Now Available

Resources and instructions for submission of 2022 audit reports are now available on our Submitting Your Audit webpage, including

Local Government Federal Credit Union Scholarships Available for UNC SOG Courses!

The deadline for LGFCU members to apply for scholarships for SOG courses being taught between October 1 and December 31, is September 1.  Don’t miss this opportunity to get financial assistance for tuition for SOG training.

Opioid Settlement Funds: Auditing and Compliance Reporting

Counties and certain municipalities are now receiving allocations of the “National Opioid Settlement Agreement,” whose funds are to be used specifically for expenditures related to opioid remediation activities.

Wilson CC Offering Local Government Finance This Fall

Wilson Community College will be offering “Local Government Finance” this fall, from August 22 through October 21. The course is being offered online for $125 plus a $5 technology fee. To register, please call 252-246-1287 by August 19.

Register for Free Virtual Course on Using ARPA Funds for Capital Projects

The UNC School of Government is hosting a free, live course on August 10, 2022, via zoom from 8:00am-5:00pm. The course, entitled “From A to Z: Using American Rescue Plan Act Recovery Funds to Directly Fund a Capital Project” will focus on the process and requirements for expending American Rescue Plan Act local fiscal recovery funds for a capital project.

DEQ Funding Application Training in August

The Division of Water Infrastructure in the N.C. Department of Environmental Quality announces training on completing applications for water/wastewater/stormwater funding for the Fall 2022 funding round.

Training will be offered from August 2 to August 10 at six sites statewide: Asheville, Valdese, Kernersville, Pembroke, Williamston, and Raleigh.