Blog Entry List
To value or not to value? That is the question.
Would your local government like to help a unit that has suffered the effects of Hurricane Florence? The NC Emergency Management Mutual Aid Agreement can help you make sure you help others in the most efficient and effective ways possible. This agreement was created after Hurricane Floyd through a joint effort of the NCLM and the NCACC. It is administered by the NC Emergency Management Division of DPS.
All 100 counties and over 3/4 of our municipalities have signed on to this voluntary agreement on how to best provide aid. Your
The IRS offers a free "alert" service for items of interest to Federal, State, and local governments.
Earlier this year we released Memorandum 2018-06 (and an addendum) that discussed at length the Uniform Guidance Procurement Standard that became effective for most units at July 1, 2018.
On June 20, 2018, the Office of Management and Budget released a
The message below was sent out on July 2nd and has generated a number of questions from recipients. We believe this revised message will help answer those questions.
While the language in the budget bill (reference corrected to Section XXI page 162 below) was not specific, it is our belief that the inspection fees referred to are those that are charged under the authority granted in G.S. 153A-354 for counties or G.S.
An item in the 2018 budget bill (S.L.
We have been getting a lot of questions recently about system development fees (SDFs) (formerly knowns as impact fees) and the need to account for them in capital reserve funds as of July 1, 2018.
Kara Millonzi at the SOG has some excellent blog posts on SDFs. We highly recommend you review them thoroughly if your unit charges SDFs.
Along with eliminating the certification requirement associated with the Iran Divestment Act, S.L.2017-193 also imposes a new divestment requirement on State and local governments.
Governments are now prohibited from contracting with companies that are boycotting Israel. This law went into effect when it was passed by the General Assembly and signed by the Governor but certain steps must be taken by the Department of State Treasurer before governments are required to comply with the law.
The Act requires the
Units Offering OPEB that are Subject to GASB Statement 75 Reporting Requirements
Please note that this discussion does not apply to any GASB Statement 74 reporting (units that are holding assets to meet OPEB obligations) or timeline you have established with your actuaries.
The PATH Act, which went into effect in December, 2015, has brought some changes to the filing deadlines for W-2s, W-3s, and certain 1099-Misc forms for the 2015 tax year.
All copies of W-2s and W-3s are now due by January 31, 2017. While the wage earner's copy was due by January 31 in previous years, the employer could wait to file the SSA copies until February 28 or even March 31. Effective now, all copies are due by January 31.
We have been asked by the NC Department of Environmental Quality (DEQ) and the NC Department of Transportation (DOT) to notify local governments and public authorities and their auditors that it is not necessary to send hard copies of audit reports directly to them. They prefer to obtain the electronic copies of the reports which have been reviewed by our staff.
This request only applies to DEQ and DOT. Please continue to submit reports to other agencies as directed by those agenci
SLGFD staff has just learned of a fraud scheme that may involve governments across the country. We know of at least one government here in NC that was contacted but fortunately experienced no loss.
Perpetrators are pretending to be from a legitimate vendor of the government and convincing government staff to change the bank account number that the electronic vendor payments are being sent to. Apparently they have all the necessary identification and information (tax ID numbers, copies of the governments change request forms, etc.) that makes the
I have heard from quite a few of you about my message yesterday regarding the accounting treatment of refunds resulting from the recent court ruling on impact fees!
I apparently did not make myself very clear and for that I apologize. Whether or not you have a liability to record is a decision each unit will make in concurrence with its attorneys and its auditors. My guidance was for those that have determined they do have a liability.
Many of you have heard by now of the recent court ruling regarding certain impact fees charged by various local governments.
New Memos Available:
Memo #2017-07: Auditors Responsibilities and the Role of the SLGFD Staff
Memo #2017-08: Local Entities Responsibilities for the Financial Reports and Records
There are two new memorandums available on our website, issued together to bring clarity to the responsibilities of both the auditors and local governments for the audited financial reports that are issued each year. In addition, the first memo seeks to clarify the role of the SLGFD staff with regards to the guidance we provide.