The Local Government Commission (LGC) has voted to assume full control of all finances of Spring Lake if, among other actions, the Board of Aldermen impedes an investigation by the Office of State Auditor into questionable financial activities or withholds information from the commission.
Press Releases
State Treasurer Dale R. Folwell, CPA, applauds the Biden administration’s new penalties on hospitals that refuse patients the right to know medical prices. The administration must enforce its new penalties, but state leaders cannot remain on the sidelines. They must also step up to protect patients.
State Treasurer Dale R. Folwell, CPA today announced the pricing of $132.025 million worth of State of North Carolina limited obligation refunding bonds (LOBs). The LOBs true interest cost is .7% representing a net present value savings of $23.6 million and is the lowest interest rate ever obtained by the state for a LOB. The bonds are scheduled to close on August 5, 2021.
The Local Government Commission (LGC) has approved up to $3 million to assist 15 local government units in assessing and inventorying their water and sewer assets as part of a process to determine long-term viability needs. The studies could lead to more cost-effective and efficient regionalized services.
State Treasurer Dale. R. Folwell, CPA, applauds the Biden administration’s action to protect patients from surprise medical billing. The U.S. Department of Health and Human Services issued a rule Thursday, July 1, under the bipartisan No Surprises Act passed by Congress in 2020 to ban most surprise billing practices.
After years of imprudent financial practices, the towns of Spring Lake and Scotland Neck passed responsible budgets this week, prompting State Treasurer Dale R. Folwell, CPA, to praise their action and to applaud the Local Government Commission’s (LGC) financial accountability agreement system that played a role in the turnaround.
Much needed changes promoting good government at the Department of State Treasurer (DST) were signed into law yesterday by Gov. Roy Cooper. Passed with the bipartisan support by the North Carolina General Assembly, all four pieces of legislation will significantly help DST provide vital services to state and local employees. The four bills are:
Having reviewed responses from other North Carolina Council of State (COS) members, State Treasurer Dale R.
State Treasurer Dale R. Folwell, CPA, called on Gov. Roy Cooper to allow Executive Order 206 to expire on June 30. The order was originally issued in October 2020 and most recently e
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.