The Balance Sheet
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.
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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Post Issuance Compliance Requirements for Tax Exempt Debt Issuance
Arbitrage rebate and yield restrictions aren’t things that most issuers have been concerned about over the past several years – very low investment earnings rates essentially eliminated concern about exceeding any limits on earnings
LOGOS Account Information
Thanks again to all the units that have submitted their account requests for the new LOGOS system.
IMPORTANT! New LGC 203 Process for December 31, 2019 Reporting Cycle!
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.
Registration for Online Finance Class Now Open!
Registration for this course opened on Friday, November 1, and can be accessed at http://cpcc.edu. 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?
One of the most frequent questions we get this time of year is “my audit wasn't submitted by October 31st? What happens now?"
New from Federal Audit Clearinghouse and OMB re Single Audits for FYE June 30, 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 Supplem
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