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.
Click in the search box below to access blog archives or find blogs related to a particular subject matter.
NEUs Should WAIT for U.S. Treasury Guidance
The State and Local Government Finance Division has just received an important update from the NC Pandemic Recovery Office - the U.S. Treasury is encouraging NEUs to wait until Treasury provides guidance at the beginning of October (no date has been confirmed) about login requirements for the U.S.
October 31 ARPA Reporting Deadline
The first reporting deadline of August 31 for ARPA funds has passed (required only by counties and metropolitan cities), with a few hiccups along the way.
Automated Systems and the Pre-Audit Requirement
Under North Carolina Session Law 2021-58, units of local government subject to the pre-audit requirements of North Carolina General Statute 159-28 may now use an automated system to meet those requirements if:
Yellow Book Standards
With the inflow and subsequent spending of ARPA funds, more local governments than ever before will be subject to Government Auditing Standards, aka Yellow Book standards beginning in fiscal year 2022 and beyond. What exactly does that mean and why should you be thinking about this now? Read our memo to find out –
Updated Data Input Workbooks
The data input workbooks that must be completed and submitted with 2021 annual audit reports have been revised and were re-published to the “Submitting Your Audit” webpage at 11:00 a.m.
Important Information Regarding File Uploads
Beginning Monday, August 23, 2021, submissions of audit reports, audit contracts, and audit invoices should be uploaded through our new file portal.
Paying Bonuses or Incentives to Employees to Encourage Vaccination
UPDATED 8/19/21
Several units have or are planning to initiate programs offering cash bonuses or other incentives to employees to encourage vaccination against the COVID-19 virus. Questions have arisen about these plans as follows:
ARPA Funding Initial Reporting Requirements
The first reporting deadline (to the UST) for ARPA funds is August 31 and it's coming up fast! We have two new resources available for those of you that are required to report.
Reporting is required by the following groups at the local level:
All counties
Metropolitan Cities
Free Webinar – ARPA and Federal Aid for Water Utilities
GFOA will host a free webinar on August 12, 2021, from 1:00 pm-2:15 pm: "Introduction to the American Rescue Plan Act Funds for Water Bill Assistance and Infrastructure Projects." The webinar will feature experts from GFOA and the Environmental Finance Center Network, and will provide an introduction to the American Rescue Plan Act (ARPA), the Low-Income Housing Water Assistance Program (LIHWAP
Training for Units with Water/Sewer
Upcoming training opportunities for local governments that provide water and/or sewer services:
Host: Rural Community Assistance Partnership (RCAP)
Topic: Webinar on Managing Water Loss: The Benefits to Small Communities
Date and Time: July 20, 2021; 2pm-3pm
Location: Virtual
LGC-203 Report Due July 25
Reminder: the LGC-203 Cash and Investments report for the June 30, 2021, reporting period is due on or before July 25, 2021. This reporting requirement applies to all local governments and public authorities under G.S.
NEUs and ARPA Funds
LGC staff have received a number of questions from non-entitlement units (NEUs) on ARPA funding such as when funds will be distributed and for what purposes they can be used. NCPRO has put together an excellent set of videos to answer these questions and more. In addition, Kara Millonzi from the SOG has posted a detailed blog that walks you through the steps of d