The Balance Sheet

The Myth of December 1

LGC staff is preparing a number of resources that will be posted to our website soon.

Illustrative Financial Statements

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.

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 following issues with Data Input Workbooks (DIWs) have been identified and corrected.

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 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

Resources and instructions for submission of FY2023 audit reports are now available on our Submitting Your Audit webpage, including

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.

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.

The US Treasury recently released updated reporting requirements for certain broadband infrastructure reporting categories.

Pension Journal Entry templates for the 2023 financial statements are now posted on our website for your use.

Beginning with the June 30, 2023 reporting period, and except as otherwise provided below, local governments and public authorities (as defined in N.C.G.S.

The 2023 Treasurer’s Conference, hosted by the UNC School of Government and the Department of State Treasurer, will be held virtually from 9:00am – 12:30pm on June 15, June 20, and June 22.