Topics Related to OST Press Release
State Treasurer Dale R. Folwell, CPA was released from Wake Forest Baptist Medical Center after five days of treatment due to symptoms related to the COVID-19 virus. A little more than a week ago, he was diagnosed with the virus. It has primarily impacted his respiratory system, producing a severe cough. As he was convalescing at home, the cough became more acute, resulting in his physician, Dr. John Bernot, M.D., recommending that he admit himself to the hospital.
After a recent, long-planned trip with my son, I returned early to Raleigh on Monday, March 16, for three days to address the growing volatility and downturn in the financial market, and its impact on the state pension plan’s $100 billion in investments. As many who know me can attest, I have a perennial cough that I believe is a reaction to my tendency to stutter as a child. Upon my return to work, I experienced what I thought was my seasonal reaction to spring pollen which has always severely accentuated my cough.
State Treasurer Dale R. Folwell, CPA, today sought to reassure the state’s citizens and business leaders that North Carolina’s government is on strong financial footing and is well-positioned to weather the storm caused by the COVID-19 pandemic. The pandemic has closed schools and businesses across the state, causing severe economic disruption.
My calling for the Governor to replace Secretary Trogdon was never personal. It was, however, about the need for change at the top of an organization that has lost its financial way.Just last week, the Governor’s Department of Transportation (DOT) asked for another $100 million from the Highway Trust Fund (HTF) to overcome February shortages. This is in addition to the over $2 billion in overspending last year including more than $1 billion taken from the HTF.
The Debt Affordability Advisory Committee’s report is an annual, nonpolitical, informational report from a bipartisan committee. It is required by statute to analyze the state’s debt capacity. That capacity is directly related to the state’s creditworthiness. The state is no more or less creditworthy today, than it was the day before the report was issued.
North Carolina State Treasurer Dale R. Folwell, CPA, held his first “Ask Me Anything” Session for members of the media on Monday, February 27th. As part of his initiative to increase transparency within the Department of State Treasurer, Treasurer Folwell has announced monthly conference calls as an open forum for discussion that is available to reporters across the state.
On Tuesday, April 18th, North Carolina State Treasurer Dale R. Folwell, CPA, held an “Ask Me Anything” Session for members of the media to discuss his first 100 days in office. Topics included the progress in reducing fees paid to external pension fund managers by $100 million during his term in office and also benefit changes to the State Health Plan.
State Treasurer Dale R. Folwell, CPA, joined the credit rating agency Moody’s in recognizing new legislation bolstering the state’s Savings Reserve or, “Rainy Day Fund,” as a “credit positive” measure.
Treasurer Dale R. Folwell, CPA, announced today that the North Carolina Council of State voted to approve the issuance of up to $150 million in General Obligation (GO) Refunding Bonds as well as up to $300 million in Limited Obligation Refunding Bonds. The bonds will be used to refund outstanding obligations to take advantage of lower interest rates thus reducing financing costs for taxpayers.
On Tuesday, May 16th, North Carolina State Treasurer Dale R. Folwell, CPA, held an “Ask Me Anything” Session for members of the North Carolina media. Treasurer Folwell answered questions about the recent lowering of the assumed rate of rate for pension investments and the financial health of the State Health Plan.