Blog Entry List
The 2020 Contract for Auditing Services is now available on our website - access the contract instructions and the actual contract form here.
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 o
The Fiscal Management staff is working diligently to complete the updated Illustrative Financial Statements for fiscal year ended June 30, 2019. We anticipate that the implementation of GASB 88, “Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements", is the only significant change we will be making. This change only impacts the note disclosures.
NCDOR's local government division is presenting the following workshops for county and city finance staff and property tax staff. Come and learn how your city or county interacts with the Department and about the distributions that you receive.
Our annual FRSWP memo is now available on our website. This memo contains the information you will need for your notes disclosures on the FRSW pension plan. Memorandum #2020-01 can be found here.
Some of you are reporting that when you attempt to open an Excel file from the SLGFD webpages using Internet Explorer that you are being asked for login credentials. SLG has not put login requirements on any of its files posted on our website. Please try opening the file using another browser - many of our users report that they have no issues opening the files in Chrome or Firefox. If you continue to have issues after trying another browser please let us know.
June 30, 2019 LGC-203 and COLL-91 Report forms are now available.
Memo 2019-07, originally issued on April 29, 2019, has been revised and reposted. Additional content, on page 2 and highlighted in yellow, was added to clarify what the auditor can and cannot do if he or she determines that there is no one at the local government client with sufficient skills, knowledge, and experience to oversee the preparation of the financial statements. We strongly encourage all auditors and units to read this memo carefully a
The 2019 pension census data attest sample of units selected to have this attest performed this year is now available on our website. Employer participants in both LGERS and TSERS are selected by the Office of State Auditor (OSA) each year to have an attest prepared by a CPA on the census data for members of the pension plans. The list of employer participants is posted on our website, along with the detailed memorandum from OSA and an additional memorandum from our staff. We also have posted the 2018 LGERS and TSERS Employer manuals for your convenience, as these are th
Audit contracts for the 2019 fiscal year are rolling in, and we are seeing a number of those contracts being filed with the board approval date omitted. While the Contract Amendment Form may be submitted without board approval (depending on your contract approval policy), the audit contract itself must be approved by the unit of government's governing body. This date should be noted on page 7 of the contract under the "Governmental Unit" section. See the highlighted area in the photo included with this post.
Please contact us with any questions at (919) 814-4
At its meeting on January 31, 2019, the Board of Trustees amended its policy for employer contribution rates to LGERS.
Our audit fee data has been updated to include the 2018 fees for all audits that were completed as of the latter part of January. We will update the schedule throughout the remainder of the year, and we will add data for counties on the eligibility AUPs. You can access the report here. The Audit Fees report is the third item in the list. Please Michael Milam at (919) 814-4286 or
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, 2018, you don't need to do anything. We have a grace p
Audit contract forms have been updated for the 2019 fiscal year and are available at https://www.nctreasurer.com/state-and-local-government-finance-division/local-government-commission/submitting-your-audit
A few changes to note:
1 – Both the LGC-205 Standard form and the LGC-205 Hospital form have been updated.
Many units of local government are dealing with the damage and destruction left by Hurricane Florence. In addition to the volume of debris and reconstruction that units might be facing, local government staff are facing the documentation and contracting requirements that come along with FEMA and Emergency Management funding. Below are some resources we hope you will find helpful in these critical tasks:
Emergency Management microsite from the SOG staff: