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Frequently Asked Questions

What is the Fiscal Year?
Like many governmental entities, the Mecklenburg County Finance Department operates on an annual financial year which is distinct from the calendar year (January 1st - December 31st). Mecklenburg County's annual fiscal year runs from July 1st to June 30th. For example, Fiscal Year 2014 begins on 7-1-2013 and ends on 6-30-2014.

What is the Payroll Cycle?
Mecklenburg County employees are compensated on a bi-weekly schedule. The pay period is divided into two distinct weeks, the first beginning on Wednesday and concluding on the following Tuesday, and the second beginning the next Wednesday and concluding the following Tuesday. For more details regarding employee compensation, please contact the Human Resources Department.

What is our Bond Rating?
Mecklenburg County currently has a Triple-A rating on general obligation bonds, the highest possible, from Standard & Poor's, Fitch, and Moody's Investors Service.

Do we get Audited?

Yes. Mecklenburg County is audited by an independent external auditing firm on a yearly basis. The auditor's opinion letter is published annually in the Comprehensive Annual Financial Report(available under the Financial Documents section). For additional information regarding the audit process, please consult the Auditor Selection Policy below.

What is our Auditor Selection Policy?

Selection of an Independent Auditor and the Establishment of an Audit Review Committee

What is our Debt Policy?

Debt Policy

What is our Banking Policy?

Banking Policy

What is our Fund Balance Policy?

Fund Balance Policy

In What do we Invest?
North Carolina General Statute 159 authorizes the County to invest in obligations of the U.S. Treasury; obligations of any agency of the United States of America, provided the payment of principal and interest of such obligations is fully guaranteed by the United States; obligations of certain quasi-federal agencies; commercial paper bearing the highest credit rating available; bankers' acceptances of accepting banks or holding companies either (i) incorporated in the State of North Carolina, or (ii) having the highest available long-term debt rating; and the North Carolina Capital Management Trust, a SEC (2a-7) registered mutual fund.

When is the next Bond Sale?
The dates of Bond sales are determined by assessing cash flow needs of the Capital Improvement Program. The date of the bond sale is set by the Director of Finance in consultation with the Local Government Commission. The date of the next bond sale is February 5, 2013.

If you have any additional questions that are not addressed, please email Cheryl.Duke@mecklenburgcountync.gov for a detailed response. Please reference the Finance Department web page in the subject line of your message.
 



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