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.

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Register Now for Local Government Finance at College of the Albemarle!

Classes Start January 14, 2020

2019 Dogwood Illustrative Financials, 2019 County Conversion Workbooks Now Available!

The City of Dogwood illustrative financial statements have been published on our website, as have the County conversion workbooks.  Dogwood can be accessed here.  The County workbooks can be accessed 

2020 Contract For Auditing Services Now Available - Please Read!

The 2020 Contract for Auditing Services is now available on our website - access the contract instructions and the actual contract form here. 

Revised Federal Compliance Supplement Issued

OMB has issued a corrected 2019 Compliance Supplement dated August 2019 that replaces the June 2019 edition.  Local auditors should use the August 2019 edition in performing Federal Single Audits for fiscal years ended June 30, 2019.  Auditors and other users of the OMB Compliance Supplement should refer to the four page “Errata Pages" section immediately following the table of conten

Status of 2019 Illustrative Financials PLUS Illustrative GASB 88

The Fiscal Management staff is working diligently to complete the updated Illustrative Financial Statements for fiscal year ended June 30, 2019.  We anticipate that the implementation of GASB 88, “Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements", is the only significant change we will be making.  This change only impacts the note d

Free NCDOR Workshops: County & Municipality TR Form Reporting / Sales & Use Refunds and Distributions

NCDOR's local government division is presenting the following workshops for county and city finance staff and property tax staff.  Come and learn how your city or county interacts with the Department and about the distributions that you receive.

Memo #2020-01 - Firefighters and Rescue Squad Workers Pension Disclosure Information

Our annual FRSWP memo is now available on our website.  This memo contains the information you will need for your notes disclosures on the FRSW pension plan.  Memorandum #2020-01 can be found here. 

Trouble Opening Excel Files from SLGFD Website?

Some of you are reporting that when you attempt to open an Excel file from the SLGFD webpages using Internet Explorer that you are being asked for login credentials.  SLG has not put login requirements on any of its files posted on our website. Please try opening the file using another browser - many of our users report that they have no issues opening the files in Chrome or

June 30, 2019 LGC 203 Forms Now Available

June 30, 2019 LGC-203 and COLL-91 Report forms are now available.

Revised Yellow Book Memo 2019-07 Now Posted

​Memo 2019-07, originally issued on April 29, 2019, has been revised and reposted.  Additional content, on page 2 and highlighted in yellow, was added to clarify what the auditor can and cannot do if he or she determines that there is no one at the local gove

2019 Pension Census Data Attest Sample Now Available

The 2019 pension census data attest sample of units selected to have this attest performed this year is now available on our website.  Employer participants in both LGERS and TSERS are selected by the Office of State Auditor (OSA) each year to have an attest prepared by a CPA on the census data for members of the pension plans.  The list of employer participants is posted on our web

Common Mistake on 2019 Audit Contracts

Audit contracts for the 2019 fiscal year are rolling in, and we are seeing a number of those contracts being filed with the board approval date omitted.  While the Contract Amendment Form may be submitted without board approval (depending on your contract approval policy), the audit contract itself must be approved by the unit of government's governing body.  This date should be not

LGERS Employer Contribution Rates to Change for 2019-2020

At its meeting on January 31, 2019, the Board of Trustees amended its policy for employer contribution rates to LGERS.

2018 Audit Fees Data Now Available

Our audit fee data has been updated to include the 2018 fees for all audits that were completed as of the latter part of January.  We will update the schedule throughout the remainder of the year, and we will add data for counties on the eligibility AUPs.  You can access the report 

My audit is late - what happens now?

One of the most frequent questions we get this time of year is “my audit wasn't submitted by October 31st?  What happens now?"
 
While the contracted due date for all June 30 fiscal year end entities is October 31, not all units are able to submit their audits by this date, for a variety of reasons, most of which are fairly inconsequential

Contact Us

How can we help? Contact SLGFD staff: (919) 814-4300 or SLGFD@nctreasurer.com.