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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LOGOS Account Information

Thursday, December 19, 2019

Thanks again to all the units that have submitted their account requests for the new LOGOS system. As noted in previous blog posts, LOGOS will launch on January 2, 2020, and will initially include a module for the semi-annual cash and investments report (LGC-203). Additional modules will be added over time to automate other reporting requirements and to offer additional functionality.

As of the December 31, 2019 report date, all LGC-203 reports will be submitted via LOGOS. We will no longer provide Excel report forms or accept emailed or mailed reports. (If you still need to submit a report for a date prior to December 31, 2019, you will need to use the Excel process. See our website, provided below, for details).

Here’s what’s next: 

On Wednesday, December 18, email messages were sent to all users who have been assigned accounts. If you requested an account and do not receive an email by Friday, December 20, please first check spam, then email if you have no email message. 

**Note that if you submitted a request on or after Dec. 18, your request will be processed, and you’ll...

IMPORTANT! New LGC 203 Process for December 31, 2019 Reporting Cycle!

Monday, November 25, 2019

As of the December 31, 2019 report date, all LGC-203 reports will be submitted via LOGOS, a new online reporting system. We will no longer provide Excel report forms or accept emailed or mailed reports.

Finance officers will need to request user accounts for any individuals (including themselves) requiring access to the new system.  Information and instructions for establishing user accounts have been emailed to units at the email address included on their June 30, 2019 report. 

Thanks to all of the units that have already submitted their requests. Once you've submitted a request, you will receive an email either confirming that your requests have been processed or asking for a corrected request.  Please note that it is taking a few days to process and confirm requests, but you will receive a follow up email from us.

If you are a unit finance officer for a unit that files LGC-203 Cash and Investment reports and your unit did not receive this information by email, please let us know at

More about LOGOS -

The staff of the Local Government Commission is automating our reporting processes and is pleased to announce that LOGOS (Local Government System), a web-based system, will launch in...

Updated BOE Conversion Workbook Now Available

Thursday, November 14, 2019

The updated BOE conversion workbook is now available on our website.  You can access it here.  Please contact us with any questions!

Registration for Online Finance Class Now Open!

Monday, November 4, 2019

​Registration for this course opened on Friday, November 1, and can be accessed at  You also may call 704-330-4223 to register.  The course is FIN7900-80 - Local Government Finance.  Class will begin January 13, 2020 and end on May 4th.  The cost is $125

My audit is late - what happens now?

Monday, November 4, 2019

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.  If your audit will be submitted to us by December 1, 2019 you don't need to do anything.  We have a grace period from November 1 to 11:59 pm on December 1 during which time you can submit your 2019 audit with no additional documents or notifications needed.  We will not consider the audit to be late for purposes of writing unit letters or for purposes of amending audit contracts as long as it is received in our portal by 11:59 pm on December 1.  The portal will date and time stamp each document that is submitted.   

If your audit will not be in by December 1, you and your auditor will need to submit an LGC-205 Amendment to Contract to Audit Accounts.  You can access the form here, and its instructions ...

New from Federal Audit Clearinghouse and OMB re Single Audits for FYE June 30, 2019

Thursday, October 31, 2019

The Federal Audit Clearinghouse (FAC), as instructed by the Office of Management and Budget, has contacted auditors and auditees of record to inform them that they may use either the June 2019 or August 2019 OMB Compliance Supplement for single audits with reports dated October 31, 2019 or before.  Previous guidance from OMB stated the August 2019 OMB Compliance Supplement superseded the June 2019 edition (please refer to our LGCNews e-mail dated September 24, 2019).  Audits with reports dated after October 31, 2019 are required to use the August 2019 edition of the supplement.  Auditors that have performed or are performing federal single audits for local governments in North Carolina are encouraged to review the Errata page section of the August 2019 edition to see what programs had errors identified in the June 2019 edition of the supplement.  Programs listed in the Errata page section commonly audited by North Carolina governmental auditors include programs with CFDA numbers:  10.760, 14.228, 20.205, 84.010, 84.027, and 84.367.  Please review your reports, including any that have already been accepted by us, to ensure compliance with the revised requirements as applicable.

If any audit reports already accepted by us need to be revised, then auditors should follow our procedures on submitting reissued reports. 

For more information on the FAC e-mails, including related questions and answers (Q&As) regarding the correction edition of the 2019...

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

Thursday, October 10, 2019

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 here.  The City conversion workbooks will be out soon, as well as Carolina County BOE and some additional charter school guidance.  

Please contact us with any questions or concerns. 

2020 Contract For Auditing Services Now Available - Please Read!

Thursday, October 10, 2019

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

There are some important changes to the contract forms as a result of the 2018 Yellow Book implementation for 2020, and as a result of feedback we received from both auditors and local governments.  Explanations of all the changes can be found in the instructions linked above.  As a result of the significance of the changes, we are asking that all units use the 2020 version of the contract for all 2020 FYE audits.  Typically we have accepted the prior year's contract form; we believe the additional information being requested via the 2020 form is important and necessary. 

In addition, we now have a separate contract form for charter schools, and have eliminated the separate contract form for hospitals.  Please see the website for more information on those changes. 

There also are some changes to the instructions on submitted contracts - please find those ...

Revised Federal Compliance Supplement Issued

Monday, September 23, 2019

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 contents in the August 2019 edition for the changes made to the June 2019 editions.  OMB has not issued any guidance to auditors that have completed fieldwork or are ready to issue a compliance audit opinion.  To the extent auditors have one of these audits that includes a program that is now being corrected or changed, and are looking for direction, the American Institute of CPAs (AICPA), Governmental Audit Quality Center (GAQC), recommends auditors contact the relevant agency's National Single Audit Coordinator (NSAC) using the contact information in Appendix VIII of the Supplement.

The August 2019 edition of the OMB Compliance Supplement can be accessed here:

The 2019 August edition issuance follows concerns raised by the AICPA Governmental Accounting and Auditing and reported in a letter to OMB as...