NOTE: Review the Audit Deadlines for Units Seeking LGC Approval of Debt (read more).
GASB Rules for Pension Reporting in North Carolina
Pensions in North Carolina that are Not Accounted for in a Trust

Governmental Accounting Standards Board (GASB) Statement 73, Accounting and Financial Reporting for Pensions and Related Assets That Are Not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68, addresses reporting changes for pensions for which local governments have not set aside assets in a trust. 

The intent of the Statement was to improve consistency and transparency of pension information among governments.  The reporting in the external financial statements will mimic closely that of GASB Statement 68.  This Statement transitions financial reporting from an funding-based approach to an accounting-based approach.  In North Carolina, the majority of the plans affected will be the single-employer Law Enforcement Officers’ Special Separation Allowance (LEOSSA) plans; however, there are some other plans offered by local governments in the State that will report under this guidance as well.


JE Templates
JE template for all years after implementation year
Template to post GASB Statement 73 journal entries for years subsequent to implementation year
​Implementation year JE template for GASB 73
​Template to post GASB Statement 73 implementation year journal entries.  This template should be used to post entries for pension plans for which assets have not been set aside in a GASB-defined trust, including the Law Enforcement Officers’ Special Separation Allowance


Ancillary Governmental Participant Investment Program (AGPIP) - North Carolina Department of State Treasurer investment program for OPEB and LEOSSA funds.  Includes template trust agreement and board resolution.

Audit Manual
Single Audit
Audit Fees
Firms Providing Accounting Services
Audit Opinions and Reports
Pension Standards - GASB 67 and GASB 68
Pension Standard - GASB 73
OPEB Standards - GASB 74 and GASB 75