Blog Entry List
North Carolina local governments are advised of the following LGC staff guidance regarding budget violations attributed to the implementation of Governmental Accounting Standards Board (GASB) Statements No. 87 and No. 96:
The staff of the Local Government Commission (LGC) has released Memorandum #2026-06: Report on County Spending on Public School Capital Outlay, issued May 1, 2026, and containing data for the fiscal year ended June 30, 2025. This annual report is compiled and published by LGC staff as required by G.S. 115C-440.1.
LGC staff are planning this year’s Local Government Independent Auditors’ Conference, and we want to make sure it delivers exactly what you need. Whether you’ve attended before or are considering joining us for the first time, your input is essential. We’re gathering feedback on topics, formats and priorities so we can build a conference that’s relevant, practical and worth your time.
Note: This post was updated on 4/23/2026 to reflect the new date of the 2026 Auditors' Conference.The staff of the Local Government Commission and our partners at the UNC School of Government are looking forward to hosting this year’s Local Government Independent Auditors’ Conference and State Treasurer’s Conference. Please see below for the dates of this year’s conferences and mark your calendars accordingly.
An important note for counties and municipalities regarding audits that are not submitted to the Local Government Commission (LGC) on or before March 31:
Local government budget development is underway! Budget ordinances must be adopted by July 1, but there are other steps required along the way. The chart below provides a high-level overview of steps in the budget development and adoption process, as required in the Local Government Budget and Fiscal Control Act. Please refer to the specific statutory provisions for details.
The LGC-205 Standard Audit Contract Form for FY 2026 is now available on the Submitting Your Audit Contract & Audit Report page of the Department of State Treasurer website.
Reminder: The LGC-203/COLL-91 Cash and Investments report for the December 31, 2025, reporting period is due on or before January 25, 2026. You will be able to initiate and submit your unit’s LGC-203/COLL-91 report with information as of December 31, 2025, via the North Carolina Local Government System (LOGOS) beginning on January 1, 2026.
The staff of the Local Government Commission (LGC) has released Memorandum #2026-05: Continuing Disclosure Requirements of Rule 15c2-12. This memo is intended to remind finance officers of the upcoming filing deadline for annual secondary market disclosures for outstanding debt subject to continuing disclosure requirements under Rule 15c2-12 of the Securities and Exchange Commission.
Carolina County and City of Dogwood Illustrative Statements and Financial Statement Resources, which includes the Conversion Workbook, Conversion Workbook for OPEB Trust – Blank, and Conversion Workbook for no OPEB Trust – Blank for the fiscal year ended June 30, 2025, are now available on our Financial Statement Resources webpage. Resources are available for both Counties and Municipalities.
On Monday, Dec. 1, the Government Finance Officers Association (GFOA) will offer a free webinar discussing the “No Tax on Overtime” guidance published Nov. 21 by the IRS.The webinar will cover key points from IRS Notice 2025-69, which provides guidance for employees to deduct qualified overtime compensation from federally taxable income starting in 2025.
Note: This post has been updated to reflect the Nov. 25 release of the 2025 OMB Compliance Supplement.
Users of the North Carolina Local Government System (LOGOS) are advised that LOGOS will be unavailable from 8 a.m. to 12 p.m. on Sunday, Nov. 23, due to scheduled network maintenance.
As part of the FY 2025 audit submission process, units and their contracted audit firms must have access to the North Carolina Local Government System (LOGOS).
As a result of the current federal government shutdown, the release of the final Office of Management and Budget (OMB) Compliance Supplement for 2025 has been delayed. LGC staff are aware that this delay has the potential to impact audit completion and submission for a large number of local governments and public authorities in North Carolina, as the supplement is needed for auditors to test the major federal programs of units that expended $750,000 or more of federal financial assistance in FY 2025.