Blog Entry List
Reminder: the LGC-203 Cash and Investments report for the December 31, 2023, reporting period is due on or before January 25, 2024. You were able to initiate and submit your LGC-203 report for the December 31 reporting date via the LOGOS system beginning on January 1, 2024. This reporting requirement applies to all local governments and public authorities under G.S.
This blog post is a public service announcement to assist state agencies and political subdivisions of the State of North Carolina in understanding their obligations under the Iran Divestment Act and, in particular, the Divestment from Companies Boycotting Israel Act (together, the “Divestment Acts”).
LGC staff have identified and corrected issues with Data Input Workbooks (DIWs) as described below.PLEASE USE THE REVISED DIWs DATED AS NOTED BELOW.
Audit contract forms have been updated and are now available on the “Submitting Your Audit” webpage. **Important changes were made and this latest version should be used for all FY2024 audits and any other new contracts (regardless of fiscal year) for all units and auditors using the LGC contract form.**“Total Amount Not To Exceed”
The Myth of December 1It’s that time again – October 31 is drawing near and LGC staff is receiving questions about audit report due dates, extensions, and grace periods. Just like our effort to debunk the “Myth of 8%” related to fund balance available, we’re now going to attempt to debunk another myth – the Myth of December 1.Myth #1:
LGC staff is preparing a number of resources that will be posted to our website soon.Illustrative Financial StatementsIllustrative financial statements for municipalities have been updated for FY2023 and are available at Municipalities | NC Treasurer.
LGC staff have identified and corrected issues with Data Input Workbooks (DIWs) as described below. Note that all DIWs now have a version date of 10-13-2023 except for mental health and health district units, which have a revision date of 10-18-2023.PLEASE USE THE DIWs DATED 10-13-2023 OR 10-18-2023 FOR ANY FY2023 AUDITS NOT YET SUBMITTED.The following DIW issues have been identified and corrected:
All 100 North Carolina counties and 17 municipalities received opioid settlement funds as a result of the legal settlement with several corporate parties. There are likely more settlements to come as well as the possibility of some corporate parties declaring bankruptcy, which may affect the amount of total settlement payments.
The target allocation and best estimates of arithmetic real rates of return on page 30 of the City of Dogwood Notes in the Word document here have been updated with the table below:
The following issues with Data Input Workbooks (DIWs) have been identified and corrected.
Resources and instructions for submission of FY2023 audit reports are now available on our Submitting Your Audit webpage, including Data Input Workbooks for FY2023 audits.
The following FY2023 Data Input Workbooks (DIWs) have been updated to correct an error in formatting of the fund balance available graph – the graph was displaying the value as a decimal and has been corrected to display the value as a percentage. All other DIWs are unaffected by this error. Municipality Mi-P Municipality R-Sp Municipality St-Z
The 2023 Annual Financial Information Report (AFIR) is now available on the U.S. Census State Data Collections website and on the NC Treasurer AFIR website. Instructions on completing and submitting the AFIR template are available on our website.
The online course "Essentials of Funding Public and Municipal Water and Wastewater Utilities," is being offered Sept. 27-29. Fees and details are available at Essentials of Funding Public and Municipal Water Utilities (euci.com).
The "Local Government Finance in North Carolina – A Practical Approach," course is a great opportunity to learn about the basics of local government finance and the requirements of the Local Government Budget and Fiscal Control Act.