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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Utility Service Rates – Are Your Rate Structures in Compliance with NC General Statutes?

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

Budgeting for Debt- and Grant-Funded Capital Projects

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

RAISE Grants from U.S. DOT

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

ARPA Pre-Award Guidance

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.

Free HR Training Available from SERCAP

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

GASB 87 (Leases) Course

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.

Free Training on Tax Treatment of Fringe Benefits

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:

SERCAP Water and Wastewater Financial Management Workshops

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

GASB Financial Reporting Model Project Documents

LGC staff are developing responses to the GASB Board related to the four GASB financial reporting model project documents located at

Water and Wastewater Finance Strategies Workshop

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.

Upcoming Audit Report Deadline

Reminder - The extended due date for local government audit reports with a June 30, 2020 fiscal year end is January 31, 2021 at 11:59 pm. Note that although the 31st falls on a Sunday, the due date remains the 31st at 11:59 pm.

Two Important Upcoming Deadlines

A reminder that two important deadlines are coming soon:

Local Government Finance Course – Openings and Overview

Interested in learning more about the pre-audit function? The budget development process? The role of the finance officer and governing board in the annual audit?

Beginning this month, local government finance employees have many options to learn more about these topics – and many more – through the “Local Government Finance in North Carolina – A Practical Approach,” course.

Compliance Supplement Addendum

The federal government has issued the 2020 Compliance Supplement Addendum that many auditors have been waiting for to finish up compliance audits.  Please see the addendum here.