The Balance Sheet

The UNC School of Government is hosting a free, live course on August 10, 2022, via zoom from 8:00am-5:00pm. The course, entitled “From A to Z: Using American Rescue Plan Act Recovery Funds to Directly Fund a Capital Project” will focus on the process and requirements for expending American Rescue Plan Act local fiscal recovery funds for a capital project.

The Division of Water Infrastructure in the N.C. Department of Environmental Quality announces training on completing applications for water/wastewater/stormwater funding for the Fall 2022 funding round.

Training will be offered from August 2 to August 10 at six sites statewide: Asheville, Valdese, Kernersville, Pembroke, Williamston, and Raleigh.

Central Piedmont Community College will be offering “Local Government Finance” this fall semester.

The course is online, $125, and will be held from September 12 through December 12, 2022. To register and pay for the class, please call 704-330-4223.

The State’s accounting system (NCAS) is being replaced with the North Carolina Financial System (NCFS). Payments of tax distributions are currently processed by the Department of Revenue using NCAS, but will be processed via the new system once it goes live. The NCFS requires specific information needed to allow payments to be processed that is not currently in the NCAS.

LGC staff often receives questions regarding the amount of fund balance available that LGC staff recommends local governments to maintain. Through the years, different misunderstandings have arisen, including that there is an 8% requirement for fund balance available.

Reminder: the LGC-203 Cash and Investments report for the June 30, 2022, reporting period is due on or before July 25, 2022. This reporting requirement applies to all local governments and public authorities under G.S.

Registration is now open for the UNC School of Government course on Local Government Cash Management and Investment of Public Funds, taking place on July 12, 14, 26 & 28 from 9:00am – 12:30pm via Zoom.  This is a great course for new finance officers and finance office staff that want to learn more about the cash and investment rules and best practices for NC local governments and publ

Journal Entry Templates for the 2022 financial statements are now posted on our website for your use. You can find the entries that you need on our Financial Statement Resources webpage for your specific unit type.

The UNC School of Government has a new blog post explaining the potential advantages of expending your ARP/CSLFRF funds to pay for local government salaries and benefits and detailing the specific process and compliance requirements.

Changes have been made to the Local Government Commission’s meeting schedule and location for September and November 2022.

The North Carolina Association of CPAs' annual Local Government Conference is being held both virtually and in-person (New Bern) on Wednesday, June 8.

Registration is now open for the 2022 State Treasurers Conference taking place June 14, 16, and 21, from 9:00am – 12:30pm via Zoom. This program is sponsored by the NC Department of State Treasurer, Local Government Commission Division and UNC School of Government. 

On Thursday, May 5, the UNC School of Government is offering as part of its Local Elected Leaders Academy (LELA), a workshop on the fiduciary responsibility of local elected officials.

The US Treasury (UST) recently granted some audit relief to certain entities, technically effective with the 2021 fiscal year audit for North Carolina local governments (those that have not yet submitted their Single Audits for 2021).

For the first time in several years, we are offering, in conjunction with the School of Government, a Local Government Independent Auditor’s Conference.  Thursday, May 19, we will be providing up to 6 hours of virtual CPE for independent auditors on current topics in local government auditing, including auditing federal grants made as a result of the American Rescue Plan A