Regional Economic Briefing: What You Need to Know About the Economy Before Finalizing Your Budget

April 2, 2026

As local governments across the region enter budgeting season, Centralina Regional Council hosted a two‑part lunchtime briefing on March 20 focused on the economic conditions shaping local decision‑making. The event featured a keynote presentation by Professor Scott L. Baier of Clemson University, followed by a facilitated discussion on how economic context can support thoughtful budget planning. 

The presentation slide deck from Professor Scott L. Baier can be found here.

Federal funds are commonly passed through state agencies in North Carolina before being awarded to local governments, which can make the original funding source less obvious. Before proceeding with a procurement, local governments should verify whether an award originates from a federal source. This determination affects compliance obligations, including procurement standards, reporting, and audit requirements.

When a construction or repair contract over $300,000 involves a building, the procurement and contract are subject to additional requirements under N.C.G.S. 143-128. Therefore, this question must be answered to determine whether the additional statutory requirements apply to this procurement scenario.

The micro-purchase threshold is a federal procurement threshold under which competitive procurement is not required. The default micro-purchase threshold is $15,000, but local governments may increase the micro-purchase threshold up to $50,000. An explanation of increasing the micro-purchase threshold and a template for the required annual self-certification is available here.