The Balance Sheet

“Local Government Finance” is again being offered by North Carolina community colleges in spring 2022.

Kara Millonzi at the UNC School of Government has issued a new blog post on ARPA funds and the Uniform Grant requirements that come along with those funds. This post discusses the allowable costs under UG, applicable cost principles, and provides a sample policy and tools for implementation.

Please allow two weeks for the processing of invoices, contracts, and audit submissions. Due to the influx of audits and the implementation of new processes, we are working diligently to process all documents as timely as possible.

The IRS is offering a free webinar on a topic that is relevant to local governments:  “Who is an Employee?” is being offered free of charge on December 16, 2021, at 1:00 pm.  Please see the IRS announcement for more information and to register. 

The UNC School of Government has published a checklist for local governments to use when considering use of ARPA funds for premium pay. We strongly encourage you to review this checklist before making payments to employees. You can access the checklist 

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. 

Many of you have been asking about audit due dates, extensions, and amended contracts. If you have a June 30 fiscal year end, the due date for your audit report is October 31. We do not offer extensions for that deadline.

To all counties and municipalities:

The U.S. Treasury  has delayed the next round (for counties and metro cities) and first round (for NEUs) of reporting for ARPA funds.  The new reporting deadlines are as follows:

If you have questions about using your ARPA money for premium pay, this blog post from Kara Millonzi at the UNC School of Government answers a lot of those questions!

As most of you know, tomorrow is the last day of the federal government’s fiscal year, and no budget or continuing resolution has been approved (as of the date and time of this post) to keep the federal government running. What impact will this have on you as a local government in NC? Below is a list of some of the more common issues locals may face. It is certainly not a complete list!

Thursday, October 14, 2021 from 9AM – 12PM

Virtual presentation via the UNC School of Government

Click here for more information and to register.