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 2015 begins on 7-1-2014 and ends on 6-30-2015.
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?
What is our 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.
Does the county do ACH-Direct Deposit for Vendors
Mecklenburg County is moving to electronic payments via ACH (Automatic Clearing House) to eventually eliminate paper checks and increase efficiency in our Accounts Payable function. We value our business relationship with our vendors and want to provide the best payment service to you.
Electronic payment via ACH will deposit your payment directly into your bank account and offers many advantages over a check. We will send you an email notice detailing the invoices we are paying just as a check stub would. You will not have to wait for the check to be delivered. Since the funds will go directly to your bank account, you do not need to make a trip to the bank to deposit the check. We process ACH payments daily. The funds will be available the same day that the ACH clears. Unlike checks, there is no risk of the ACH payment being lost or stolen.
To establish electronic payment via ACH, it is essential that you complete the ACH Authorization Form
so that we have your bank routing details, your bank account number and the type of account, checking or savings. The Authorization Agreement also requests an email address. This is the email address to which all payment notifications will be sent, so it is imperative that an address be provided.
Please return the Authorization Agreement to the Mecklenburg County Finance Department using one of the following methods:
- Fax: General Accounting, Finance Department 704-319-9365
- Mail: General Accounting, Attn: EFT Authorizations Mecklenburg County Finance Department
P.O. Box 34486
Charlotte, N.C. 28234
Please direct any questions to General Accounting at 704-336-2503.
Mecklenburg County is pleased to offer this service to our vendors to improve our payment process.