The Balance Sheet

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.

The 2025 Annual Financial Information Report (AFIR) is now available on the AFIR page

The staff of the Local Government Commission (LGC) has issued a revised and expanded version of Memorandum #2015-15: Internal Controls for a Small Unit of Government.

Annual debt payment notices issued to local governments and public authorities for the current fiscal year are now available on the Debt Reports and Notices page of the LGC website.

The staff of the Local Government Commission (LGC) has released a new memorandum discussing Statement No. 102 of the Governmental Accounting Standards Board (GASB).

A new memo is available on the Department of State Treasurer website containing important information on retirement and investment disclosures for the fiscal year ended June 30, 2025. 

Instructions and resources for submitting FY 2025 audited financial statements and related documents are now available on the LGC website under the “Submitting Your 2025 Audit” page.

A new memo announcing the third round of cashflow loans for local governments affected by Hurricane Helene is available on the Department of State Treasure

North Carolina local governments and public authorities using automated systems for preaudits are reminded that these systems must be certified annually to ensure that they meet certain technical requirements.

At its July 1 meeting, the Local Government Commission (LGC) passed three resolutions that will allow local governments to more quickly refinance existing debt, a process known as “refunding.” The resolutions apply to the following debt types:

Reminder: The LGC-203/COLL-91 Cash and Investments report for the June 30, 2025, reporting period is due on or before July 25, 2025.

Pension Journal Entry templates for the 2025 financial statements are now posted on our website for your use.

The Management of Cash and Taxes and Fund Balance Available reports for counties and municipalities for fiscal year 2024 are now available through our online report server. This online interface provides access to reports for audit years 2021 and later, as available.

The Statistical Information on Electric System Operations report for fiscal year 2024 is now available through our online report server. This online interface provides access to reports for fiscal years 2022 and later.