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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LGC Staff Guidance on Fund Balance Available

LGC staff often receives questions regarding the amount of fund balance available that LGC staff recommends local governments to maintain. Through the years, different misunderstandings have arisen, including that there is an 8% requirement for fund balance available.

June 30, 2022 LGC-203 Report Due July 25

Reminder: the LGC-203 Cash and Investments report for the June 30, 2022, reporting period is due on or before July 25, 2022. This reporting requirement applies to all local governments and public authorities under G.S.

Cash Management Class Offered in July

Registration is now open for the UNC School of Government course on Local Government Cash Management and Investment of Public Funds, taking place on July 12, 14, 26 & 28 from 9:00am – 12:30pm via Zoom.  This is a great course for new finance officers and finance office staff that want to learn more about the cash and investment rules and best practices for NC local governments and public au

JE Templates for 2022 Financial Statements

Journal Entry Templates for the 2022 financial statements are now posted on our website for your use. You can find the entries that you need on our Financial Statement Resources webpage for your specific unit type.

Supplanting Salaries and Benefits with ARP/CSLFRF

The UNC School of Government has a new blog post explaining the potential advantages of expending your ARP/CSLFRF funds to pay for local government salaries and benefits and detailing the specific process and compliance requirements.

Changes to Local Government Commission Meeting Schedule

Changes have been made to the Local Government Commission’s meeting schedule and location for September and November 2022.

Local Government Auditors and Finance Officials/Staff – Training Opportunity with the NCACPA

The North Carolina Association of CPAs' annual Local Government Conference is being held both virtually and in-person (New Bern) on Wednesday, June 8.

Registration for Treasurer's Conference is Now Open!

Registration is now open for the 2022 State Treasurers Conference taking place June 14, 16, and 21, from 9:00am – 12:30pm via Zoom. This program is sponsored by the NC Department of State Treasurer, Local Government Commission Division and UNC School of Government

Training Opportunity for Local Elected Leaders and Others

On Thursday, May 5, the UNC School of Government is offering as part of its Local Elected Leaders Academy (LELA), a workshop on the fiduciary responsibility of local elected officials.

Alternative Audit Requirements for ARPA Funds for Some Local Units

The US Treasury (UST) recently granted some audit relief to certain entities, technically effective with the 2021 fiscal year audit for North Carolina local governments (those that have not yet submitted their Single Audits for 2021).

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.