LGC-203/COLL-91 Resources

Beginning with the June 30, 2023 reporting period, and except as otherwise provided below, local governments and public authorities (as defined in N.C.G.S. 159-7) required to submit both the COLL-91 Form and the LGC-203 Report  will submit both reports simultaneously using the new LGC-203/COLL-91 module within LOGOS (the “LGC-203/COLL-91 Module”).

Background

At present, local governments and public authorities subject to the reporting requirements of 20 NCAC 07 .0103(b) comply with that section by filling out and submitting duplicate  “Annual Notification of Accounts by Public Depositor” forms (the “COLL-91 Form”) to the relevant depository and to the Department of State Treasurer’s Financial Operations Division, respectively (see 20 NCAC 07 .0103(b)).

Separately, local governments and public authorities subject to N.C.G.S. 159-33 comply with those reporting requirements by submitting the “Semi-Annual Report on Deposits and Investments” (the “LGC-203 Report”) through the LGC-203 module within LOGOS, which is maintained by the Department of State Treasurer’s State and Local Government Finance Division. 

Many local governments and public authorities are subject to the reporting requirements of both 20 NCAC 07 .0103(b) and N.C.G.S. 159-33.

Much of the information reported on the COLL-91 Form is also reported on LGC-203 Report. 

Recognizing the inefficiency inherent in this duplicative reporting framework, staff from the Department’s Financial Operations Division and State and Local Government Finance Division saw  an opportunity to streamline the process and operations around submission of the information required for the respective reports. To that end, the referenced divisions, together with the Department’s Information Technology Division have collaborated to expand the  functionality of the LGC-203 module so that COLL-91 Form information may be reported simultaneously with LGC-203 information, thereby eliminating the need for units to submit the same or similar information twice, using two separate formats.

Implementation

Beginning with the June 30, 2023 reporting period, and except as otherwise provided below, local governments and public authorities (as defined in N.C.G.S. 159-7) required to submit both the COLL-91 Form and the LGC-203 Report  will submit both reports simultaneously using the new LGC-203/COLL-91 module within LOGOS. 

By submitting the information required under the “Pooling Deposits” tab of the new LGC-203/COLL-91 Module , local governments and public authorities will now satisfy the requirements of both N.C.G.S. 159-33 and 20 NCAC 07 .0103(b).

With respect to the requirement under 20 NCAC 07 .0103(b) that units provide duplicate COLL-91 Forms to the Department of State Treasurer and to the relevant depository, respectively: information submitted to the Department of State Treasurer’s Financial Operations Division through the LGC-203/COLL-91 Module will be forwarded to the relevant depositories on behalf of the units, in satisfaction of that requirement.

Please note that, at this time, boards of education and their individual schools may not use the new LGC-203/COLL-91 Module to submit COLL-91 Form information in satisfaction of 20 NCAC 07 .0103(b).  These units must continue submitting the traditional COLL-91 Form, in duplicate, to the Financial Operations Division and to the relevant depository, respectively, in addition to submitting the LGC-203 Report to the State and Local Government Finance Division through LOGOS. 

Similarly, entities that are not required to submit LGC-203 Reports pursuant to N.C.G.S. 159-33 such as ABC boards, community colleges, and state agencies must continue to submit COLL-91 Form information using the traditional COLL-91 Form and process
 

Summary

  1. The LGC-203 module in LOGOS is now the “LGC-203/COLL-91 Module.”
  2. Units required to submit both a LGC-203 Report and a COLL-91 Form will now use the LGC-203/COLL-91 Module to submit a single set of information in satisfaction of both reporting requirements.
  3. Information received by the Department of State Treasurer’s Financial Operations Division through the LGC-203/COLL-91 Module will be forwarded to the relevant depositories on behalf of the units, thereby satisfying the requirement under 20 NCAC 07 .0103(b) that units provide duplicate COLL-91 Forms to the Department of State Treasurer and to the relevant depository, respectively. 

Important Report Submission Information

  1. LGC-203/COLL-91 submissions are due annually on January 25 (disclosing balances as of December 31) and July 25 (disclosing balances as of June 30). The report is due on or before 11:59 pm on the due date, regardless of the day of the week the due date falls.
  2. You may initiate and submit your LGC-203/COLL-91 for the June 30 reporting date beginning July 1, and for the December 31 reporting period beginning January 1. You can access, review, print, or submit a report for any prior reporting periods at any time.
  3. All LGC-203/COLL-91s must be submitted in LOGOS, the online local government reporting system hosted by the Department of State Treasurer. Access LOGOS by clicking here.

Quick Reference

The Quick Reference document below provides a summary of the amounts you’ll be asked to report and the statements you’ll be asked to upload when you submit your LGC-203/COLL-91 report.

LGC 203 Quick Reference Document

Contacts

For more information on the LGC-203 report:
Contact:  (919) 814-4300; LGC203@ntreasurer.com

For more information on the COLL-91 form:
Visit:  Collateralization of Public Deposits
Contact:   (919) 814-3889; SBU.Collateral@nctreasurer.com     

For more information on LOGOS, including account issues and requests:
Visit:  LOGOS 
Contact:   (919) 814-4300; LOGOS@nctreasurer.com