The Balance Sheet

The data input workbooks that must be completed and submitted with 2021 annual audit reports have been revised and were re-published to the “Submitting Your Audit” webpage at 11:00 a.m.

UPDATED 8/19/21

Several units have or are planning to initiate programs offering cash bonuses or other incentives to employees to encourage vaccination against the COVID-19 virus. Questions have arisen about these plans as follows:

The first reporting deadline (to the UST) for ARPA funds is August 31 and it's coming up fast! We have two new resources available for those of you that are required to report.

Reporting is required by the following groups at the local level:

All counties
Metropolitan Cities

GFOA will host a free webinar on August 12, 2021, from 1:00 pm-2:15 pm: "Introduction to the American Rescue Plan Act Funds for Water Bill Assistance and Infrastructure Projects." The webinar will feature experts from GFOA and the Environmental Finance Center Network, and will provide an introduction to the American Rescue Plan Act (ARPA), the Low-Income Housing Water Assistance Program (LIHWAP

Upcoming training opportunities for local governments that provide water and/or sewer services:

Host: Rural Community Assistance Partnership (RCAP)

Topic: Webinar on Managing Water Loss: The Benefits to Small Communities
Date and Time: July 20, 2021; 2pm-3pm
Location: Virtual

Reminder: the LGC-203 Cash and Investments report for the June 30, 2021, reporting period is due on or before July 25, 2021. This reporting requirement applies to all local governments and public authorities under G.S.

LGC staff have received a number of questions from non-entitlement units (NEUs) on ARPA funding such as when funds will be distributed and for what purposes they can be used.  NCPRO has put together an excellent set of videos to answer these questions and more.  In addition, Kara Millonzi from the SOG has posted a detailed blog that walks you through the steps of d

An informational session about the American Rescue Plan will be held featuring remarks from Governor Roy Cooper, followed by presentations and Q&A from state agencies and organizations supporting local governments.

LGC staff reviewed the proposed guidance contained in the Compensated Absences Exposure Draft published by the GASB Board in February 2021 and provided the comments below to the Board and to the Technical Director. We urge NC local governments to pay attention to the GASB project schedules and provide comments as requested by the Board whenever time and resources permit

Join the North Carolina League of Municipalities and the NC Association of County Commissioners for a Q&A session with the N.C. State Treasurer's office staff about the ARP funding for local governments. The webinar will discuss the specifics of accounting for American Rescue Plan funds for local governments.

NEW RESOURCE FROM GFOA ON ESTIMATING LOST REVENUE

For those of you that are members of GFOA, they have a new revenue replacement calculator to assist you in calculating the amount of lost revenue you can replace with ARPA funds.  It is behind their paywall so available only to members. Log in at GFOA.org to check it out.

The State recently reopened applications for rent and/or utility bill assistance through its HOPE program. Residents can apply for assistance at 888-9ASK-HOPE or at hope.nc.gov in 88 of the 100 counties in North Carolina.