Press Releases
After raising deep concerns over potential budget deficits, longstanding fiscal disarray and an investigation into missing money, members of the Local Government Commission (LGC) voted to warn Spring Lake that it faces potential state takeover of its financial affairs.The LGC, chaired by State Treasurer Dale R. Folwell, CPA, and staffed by members of the Department of State Treasurer’s State and Local Government Finance Division, voted unanimously in an emergency meeting Tuesday, June 22, to send a notice of warning to the town of 12,000 residents.
Statement from State Treasurer Dale R. Folwell, CPA on Senate Bill 105 – the 2021 Appropriations Act
I would like to thank the members of the North Carolina Senate for advancing such a fiscally responsible budget. The current proposal fully funds the State Health Plan, the state retirement systems and the state’s debt service as well as setting aside, for the first time ever, money for the Pension Solvency Reserve. Additionally, it provides unparalleled resources for water and sewer infrastructure needs at a time when communities are struggling to maintain fiscal stability while meeting public health and environmental responsibilities.
Forsyth, Moore and Hoke counties have received approval from the Local Government Commission (LGC) to obtain a combined $281 million in financing to build government buildings, and to erect and upgrade other facilities.The action was part of more than $1 billion in financing approved June 1 by the LGC, chaired by State Treasurer Dale R. Folwell, CPA, and staffed by Department of State Treasurer personnel.
Currituck County is taking great strides to strengthen its ability to pay future retirement benefits to employees, and State Treasurer Dale R. Folwell, CPA, praised the coastal county for its efforts.
State Treasurer Dale R. Folwell, CPA, announced today that the state’s Highway Trust Fund (HTF) had reached $646.8 million in April 2021. The HTF was created by the North Carolina General Assembly (NCGA) in 1989 to provide revenue sources for specific highway projects.
Started by the American Motorcyclist Association in the early 1980s, May has become the month in which motorcycle enthusiasts seek to educate drivers to be aware of motorcycles and to call attention to safety issues affecting motorcycle riding. State Treasurer Dale R. Folwell, CPA, an avid motorcyclist, is asking North Carolinians to look out for motorcycles as people hit the roads for vacations this summer.
The Unclaimed Property Division (UPD) of the Department of State Treasurer (DST) announced this week that it had exceeded 100,000 claims paid amounting to more than $60 million so far this fiscal year. UPD is part of DST led by State Treasurer Dale R. Folwell, CPA. The milestone, achieved in early May, exceeded the division’s highest claims paid within any fiscal year in the program’s history.
North Carolina’s Local Government Commission (LGC) has approved a survival plan for the struggling Randolph Hospital that includes a potential $12 million loan for a startup company to buy the Asheboro-based health system.The 145-bed community hospital, which has more than tripled in size since it was created in 1928, entered Chapter 11 bankruptcy. Randolph County Commissioners Chairman Darrell Frye told the LGC on Tuesday, May 4, that community health care is in crisis mode.
Legislation championed by State Treasurer Dale R. Folwell, CPA, is making it easier for people to retrieve their missing money that the Department of State Treasurer (DST) has been safeguarding.
The Local Government Commission (LGC) unanimously approved a resolution recommending that the General Assembly repeal the town charter of East Laurinburg. The action was taken after town officials failed to file state-required financial audit reports the past four years and failed repeatedly to comply with other requirements of the Local Government Budget and Fiscal Control Act.