Mayor Padgett appointed to NC Local Government Commission
Thursday, August 3, 2017
CONCORD – Concord Mayor Scott Padgett has a new role in local government at the state level following Governor Roy Cooper’s appointment of him to the North Carolina Local Government Commission. Padgett, who has served as Mayor since 2001 and served on Concord City Council from 1995-2001, will end his tenure as Mayor in December of this year.
“It is an honor to serve our great State on the Local Government Commission,” said Padgett. “I look forward having a role in upholding the long tradition of fiscal responsibility and good government in North Carolina, embodied every day by the 13,000 units of local government ranging from cities and counties to boards of education, special districts, and authorities. I am proud to take on his role that will affect the lives of so many North Carolina citizens.”
The Local Government Commission (LGC) was established in 1931 to help address problems in local government finance caused by the Great Depression. Today, North Carolina boasts a larger percentage of AAA-rated local government units than any other state, and many attribute this to the work of the LGC.
The Commission focuses on three areas of responsibility and authority. First, local governments must seek LGC approval before it can borrow money. Second, once a borrowing is approved, the LGC is responsible for selling the debt (or bonds) on the unit’s behalf. Third, the LGC staff regulates annual financial reporting by oversight of the annual independent auditing of local governments, by monitoring the fiscal health of local governments, and by offering broad assistance in financial administration to local governments.
The Commission is composed of nine members: the State Treasurer, the Secretary of State, the State Auditor, the Secretary of Revenue, and five others by appointment (three by the Governor, one by the General Assembly upon the recommendation of the President Pro Tempore and one by the General Assembly upon the recommendation of the Speaker of the House). The State Treasurer serves as Chair and selects the Secretary of the Commission, who heads the administrative staff serving the Commission.
Peter L. Franzese
Public Affairs and Projects Manager