Are there any regulations related to public finance, including borrowing?

In North Carolina, there are specific regulations related to public finance, including borrowing. The Local Government Commission was established in 1934 to review and approve the issuance of debt for local government units in order to safeguard the public’s interest. This commission consists of three members appointed by the Governor and reviews all borrowing by counties, cities, and towns. The commission’s review is intended to ensure that local governments in North Carolina have the ability to borrow responsibly and effectively to fund public services. The Local Government Commission also publishes an annual report that details all of the debt of local governments. This report includes details such as the type of debt, the amount borrowed, and the annual debt service payments. Local governments in North Carolina are also subject to numerous other regulations related to public finance, such as the requirement to adopt a balanced budget every year. Additionally, local governments must receive approval from the State Treasurer before investing in any securities. Finally, they must comply with the Local Government Budget and Fiscal Control Act, which requires all local governments to submit financial statements and disclosure of financial information to the State Treasurer.

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Are there any regulations related to public finance, including borrowing?

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