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Targeted News Service

Targeted News Service
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Council of State Votes on Executive Order 206

Council of State Votes on Executive Order 206
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Treasurer Folwell announces bill to raise cap on unclaimed cash - NEWS TALK 105.9, 100.7 WSIC WSICweb.com

Treasurer Folwell announces bill to raise cap on unclaimed cash

PRESS RELEASE :::
(Raleigh, N.C.) – 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 General Assembly passed and Gov. Roy Cooper signed a law that allows DST’s Unclaimed Property Division (UPD) to work with the rightful owners to claim up to $5,000 without any red tape. The initiative is called NCCash Match and was rolled out on a six-month trial basis in October 2020.
Initially the pilot program allowed the expedited process for claims of up to $250 through March 15. During that limited time UPD staff processed 20,969 claims among all 100 counties and distributed slightly more than $1.4 million. The total was nearly $1.7 million when including payments made on 3,895 claims to people no longer living in North Carolina. Due to the success of th ....

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North Carolina running out of room to borrow for road projects - Carolina Journal

North Carolina may run out of room to borrow money for transportation projects in just a few years, according to a new report released this week by State Treasurer Dale Folwell.
This puts in jeopardy the state’s Build NC Bonds, a $3 billion transportation package approved in 2018.
At the current rate, the Department of Transportation will run out of debt capacity in 2026 and won’t be able to issue all of the bonds it is scheduled to. There’s no room for more borrowing beyond what has already been authorized, the report states.
“The Department of Transportation should be much more prudent than it has been,” said Joseph Coletti, senior fellow for fiscal studies at the John Locke Foundation. ....

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North Carolina cuts investment assumptions of public pension system

North Carolina cuts investment assumptions of public pension system
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