The Balance Sheet

While there isn’t a lot of firm guidance available on ARPA funds, some aspects have become a little clearer with the issuance of the Interim Final Rule by the UST on May 11, 2021. SLG staff, as well as SOG and NCPRO staff, have been receiving a number of questions on the accounting, auditing, and budgeting of these funds.

Registration is now open for the 2021 State Treasurer's Auditing, Reporting, and Review Conference. As in 2020, this conference will be provided virtually and will span multiple days - June 15, June 22, and June 24 from 9:30am-12pm each day. Cost is $225 for the entire course.

Local Government Commission staff has emailed statements of debt service obligations to local governments, as required by North Carolina General Statute 159-35.

The North Carolina League of Municipalities is hosting an “American Rescue Plan: Accessing Funding” webinar on Tuesday, May 11, 2021, from 2:30 pm - 3:30 pm. The League will be joined by staff from the NC Pandemic Recovery Office for a Q&A about the ARP funding for cities and towns.  The webinar is free, but registration is required.

As more fully explained in Professor Kara Millonzi’s blog on utility rates, local governments and public authorities must have a utility-based reason for charging Customer A one rate and Customer B a different rate for the same type of service, such as water, sewer, or elect

Most local governments will embark on a capital project periodically, whether the project is for utilities, streets, or other purposes.

Please see this announcement from the U.S. Department of Transportation regarding Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grant opportunities.

The U.S. Department of the Treasury has issued pre-award guidance for state and local governments with regard to American Rescue Plan Act (ARPA) funds.  Please refer to their webpage for details.

This course is currently full. Please see this blog post for details on a second section being offered on June 2.

The UNC School of Government and LGC staff are pleased to offer a virtual course:  Leases – Implementation of GASB Statement 87. The two-day course will be held from 10am-12pm on Tuesday May 18 and Thursday May 20.

The Tax Exempt and Government Entities Division of the IRS is offering a free webinar on Taxable Fringe Benefits. Please see the announcement below from the FSLG Newsletter:

The Southeast Rural Community Assistance Project (SERCAP) is offering two regional workshops addressing water and wastewater utility finance.

LGC staff are developing responses to the GASB Board related to the four GASB financial reporting model project documents located at https://gasb.org/exposuredocuments.

UNC School of Government’s Environmental Finance Center is hosting its annual "Water and Wastewater Finance Strategies Workshop" on Feb. 24 – 26, 2021. The virtual workshop will cover a variety of important topics including Viable Utility Reserve legislation, COVID-related funding and issues, DWI and USDA funding programs, planning, utility financial management, and more.