The Balance Sheet
The Balance Sheet
The Balance Sheet is the blog of the Local Government Commission staff. Click below to sign up to receive email alerts when new blog posts are released.
For announcements and resources related to ARPA funds and the impacts of COVID-19, visit our Local Government ARPA Resources page.
Click in the search box below to access blog archives or find blogs related to a particular subject matter.
2021 Annual Financial Information Report (AFIR)
Reminder to all counties and municipalities: The 2021 Annual Financial Information Report (AFIR) is now available on the U.S.
Important Memo Regarding Water/wastewater Fund Transfers Now Available
Memorandum # 2022-07 has been published to the
Delay in ARPA Reporting Deadlines
To all counties and municipalities:
The U.S. Treasury has delayed the next round (for counties and metro cities) and first round (for NEUs) of reporting for ARPA funds. The new reporting deadlines are as follows:
ARPA Funds and Premium Pay
If you have questions about using your ARPA money for premium pay, this blog post from Kara Millonzi at the UNC School of Government answers a lot of those questions!
Impact of Federal Budget Impass
As most of you know, tomorrow is the last day of the federal government’s fiscal year, and no budget or continuing resolution has been approved (as of the date and time of this post) to keep the federal government running. What impact will this have on you as a local government in NC? Below is a list of some of the more common issues locals may face. It is certainly not a complete list!
Training Opportunity for Local Elected Leaders – Financial Fiduciary Responsibilities of Local Elected Leaders
Thursday, October 14, 2021 from 9AM – 12PM
Virtual presentation via the UNC School of Government
Click here for more information and to register.
NEUs Should WAIT for U.S. Treasury Guidance
The State and Local Government Finance Division has just received an important update from the NC Pandemic Recovery Office - the U.S. Treasury is encouraging NEUs to wait until Treasury provides guidance at the beginning of October (no date has been confirmed) about login requirements for the U.S.
October 31 ARPA Reporting Deadline
The first reporting deadline of August 31 for ARPA funds has passed (required only by counties and metropolitan cities), with a few hiccups along the way.
Yellow Book Standards
With the inflow and subsequent spending of ARPA funds, more local governments than ever before will be subject to Government Auditing Standards, aka Yellow Book standards beginning in fiscal year 2022 and beyond. What exactly does that mean and why should you be thinking about this now? Read our memo to find out –
Local Government Finance Class Starting September 13
“Local Government Finance in North Carolina - A Practical Approach,” will be offered online by Central Piedmont Community College starting September 13 and running through December 13.
Important Changes to LGC Oversight of Charter Schools
Under Section 5 of North Carolina Session Law 2021-58 (House Bill 163), charter school audit reports, audit contracts, and audit invoices are no longer required to be submitted to the Loca
Important Information Regarding File Uploads
Beginning Monday, August 23, 2021, submissions of audit reports, audit contracts, and audit invoices should be uploaded through our new file portal.
Updated Data Input Workbooks
The data input workbooks that must be completed and submitted with 2021 annual audit reports have been revised and were re-published to the “Submitting Your Audit” webpage at 11:00 a.m.