The Balance Sheet

Person holding mobile phone with the word "Blog" on it and some other text. Laptop open in the background.

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.

Sign Up

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

ARPA Resources

View Embed
Displaying 16 - 30 of 183

Save the Dates – Training Opportunities on the Horizon!

For the first time in several years, we are offering, in conjunction with the School of Government, a Local Government Independent Auditor’s Conference.  Thursday, May 19, we will be providing up to 6 hours of virtual CPE for independent auditors on current topics in local government auditing, including auditing federal grants made as a result of the American Rescue Plan Act.

ARPA and Design-Build

The UNC School of Government has just posted an important discussion on the use of CSLFRF (or ARPA funds) and the design-build method of contracting for construction projects.

SOG Training on ARPA Funds Revenue Replacement

On Monday, April 11, 2022, the UNC School of Government will host a day-long course designed specifically for cities and counties that are taking advantage of the up to $10 million revenue replacement designation for their ARPA funds.

“GASB Statement 87 – Part 3” Memo

Part 3 of the memo series related to GASB Statement 87, (Leases) has been issued by LGC staff. Please visit our GASB 87 Guidance webpage.

Guidance from US Treasury for Non-Entitlement Units

On Monday, March 21 at 3:00 p.m., US Treasury is hosting a webinar for ARPA Recovery Fund non-entitlement units of local government (NEU) recipients on reporting requirements. If you are a representative from an NEU this should be of interest to you, as you have a reporting deadline on April 30, 2022.

Uniform Guidance Policies and Implementation Tools

The UNC School of Government has posted its Sample Uniform Guidance Policies and Implementation Tools. The post can be accessed here.

Jennifer Wimmer Named as Director of Debt Management Section

The Department of State Treasurer's State and Local Government Finance Division is pleased to announce that Jennifer Wimmer has been named Director of the division's Debt Management Section. Jennifer has been with the Department nearly 10 years, and previously served as the Assistant Director of the Debt Management Section and as financial analyst.

Update to Debt Application Deadlines

As units begin thinking about issuing debt, the first question they should address is, “Has the audit been submitted to the LGC?” In an effort to keep debt applications on schedule, the deadline for both the audit report and any Financial Performance Indicator of Concern (FPIC) response letter has been changed to two months prior to the date of the meeting.

Premium Pay and UST Final Rule

There is a new blog post on Coates' Canons regarding premium pay for local government employees. Some of the rules changed a bit in the UST Final Rule that was issued recently.

Fiscal Training for Local Government Board Members

LGC staff has developed fiscal training for local government board members on some of the key aspects of the Local Government Budget and Fiscal Control Act.  Although this training is useful for anyone involved in a local government or public authority in North Carolina, it has been specifically developed for elected officials.

ARPA Final Rule and Procurement Requirements for Audit Services

*REVISED January 28, 2022*

Spring 2022 Offerings of Local Government Finance Class

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

ARPA and Uniform Guidance

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.

Process Timeline

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. Thank you for your patience and feel free to contact us at if you have any questions. 

Free Webinar From the IRS

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.