COLUMBUS COUNTY, N.C. (WECT) – Columbus County and several southeastern North Carolina towns have missed the deadline to submit their annual audits, according to the North Carolina Department of State Treasurer.
According to a document shared by the department, as of May 29, the following southeastern N.C. local governments have not submitted their annual audit:
- Columbus County
- Burgaw
- Tabor City
- Bladenboro
- East Arcadia
According to G.S. 159-34, counties or municipalities that failed to submit an annual audit report within nine months of their fiscal year end will be sent a notice of noncompliance. A county or municipality that, after receiving the notice, does not comply and fails to submit the audit within 12 months of its fiscal year end “shall be deemed to have given consent to the withholding of a portion of its sales tax distributions.”
“The total cumulative amount that may be withheld is an amount equal to one hundred fifty percent (150%) of the cost of the required annual audit as indicated in the audit contract between the county or municipality and its external auditor for the audit report, if such a contract has been executed, or one hundred fifty percent (150%) of the actual fee for the most recently filed audit report if a contract has not been executed for the current year audit,” the statute states.
These new rules for auditing were implemented late last year.
Once the county or municipality has its submitted audit accepted, or successfully appeals the notice of noncompliance, the funds will be given back.
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