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Event Details

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October 29, 2019
All Day
Eastern Carolina Council of Governments
233 Middle Street

New Bern, NC 28560
$155. County commissioners receive a 20 percent discount by using the code NCACC-SOG-2019-20.
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Fiduciary Responsibilities for Local Elected Officials

Tuesday, October 29, 2019

Local elected officials are stewards of the public trust. They are responsible for guiding multi-million dollar county and municipal corporations that depend on numerous sources of revenues and that have multiple layers of policy and management responsibilities. Understanding their financial fiduciary responsibilities is one of their most important duties. This workshop will focus on understanding and responding to the annual audit, maintaining adequate oversight of fund balance including its limitations and flexibility, and knowing the significance of the various communications and reporting requirements of the Local Government Commission. Attendees will learn from real-life examples of internal control challenges and other significant audit findings, and will see how board involvement can help overcome these challenges in ways that secure the local units’ financial stability. Relationships between the state and local governments in managing public funds will be explored.