North Carolina’s state pension system was a victim of the recent collapse of two large Silicon Valley, California banks, with the loss of millions in stock at both banks.
collapse of two large Silicon Valley California banks in recent days has officials trying to calm investors and prevent a contagious fear of bank collapse that might trigger massive withdrawals. State Treasurer Dale Folwell chairs North Carolina’s State Banking Commission and says he and N.C. Commissioner of Banks Katherine Bosken have been closely watching the situation. Folwell says he feels confident.
After 20 months of state control, the town of Pikeville, Wayne County, regained complete control over all its finances Tuesday from the North Carolina Local Government Commission after they passed a resolution.
A majority of the state’s hospitals are reaping the benefits of tax-exempt status but come up short in providing adequate charity care to earn that designation — and they’re getting away with it. That’s the conclusion of a report released in October jointly by the Johns Hopkins Bloomberg School of Public Health and the N.C....
State Auditor Beth Wood is questioning a plan by the Local Government Commission to sell bonds to buy the assets of the Bald Head Island Transportation System, saying the body needs to verify system valuation before placing the applications on the agenda. Wood sent a letter to State Treasure Dale Folwell on Nov. 15, insisting...
The Town of East Laurinburg’s charter hangs in the balance as the Local Government Commission recently voted unanimously to impound the town’s books and assume full control of its finances due to misappropriation of funds. It comes after an investigative report in October by State Auditor Beth Wood’s office. State Treasurer Dale Folwell is chair...
By Tanner Aliff When people think about non-profits, they tend to envision organizations like GoodWill, Habitat for Humanity, or the American Red Cross. Hardly anyone pictures a ritzy metropolitan hospital with granite fountains, marble floors, zen gardens, and huge medical bills. Yet in America, where many hospitals receive the tax benefits that come from 501(c)(3)...
At a time when North Carolina is ranked as one of the most expensive states for health care in the nation, many nonprofit hospitals are reaping huge profits while providing little in the way of charity care. That’s according to a report by the N.C. State Health Plan and Johns Hopkins Bloomberg School of Public...
N.C. State Treasurer Dale Folwell has joined 24 state treasurers in signing a letter opposing a portion of national Democrats’ $3.5-trillion budget reconciliation bill that would expand the power of the Internal Revenue Service. The proposed legislation — backed by the Biden administration — would give the IRS new power to monitor American bank accounts...
Some Republican members of the N.C. Council of State used a meeting Tuesday, Aug. 3, to underscore the challenges employers face in finding workers because, at least in part, of generous unemployment benefit payments from the federal government. “I’m sounding the alarm because we’re in an employment crisis in North Carolina,” said Treasurer Dale Folwell,...
N.C. Treasurer Dale Folwell says N.C. hospitals aren’t being transparent on their pricing, despite federal rules requiring them to do so. In 2019, President Trump signed an executive order requiring hospitals to make public the prices they charge for standard procedures. The federal government soon followed through with rules mandating that every hospital in the...
