State employees are no longer in immediate danger of paying out-of-network costs for their health care, but they may confront higher premiums and higher taxes later. State Treasurer Dale Folwell’s Clear Pricing Project has folded, and its proposed reforms won’t touch hospitals. But the fiscal…
The state panel that determines how much money North Carolina can prudently borrow over the next 10 years rejected an appeal Wednesday by Gov. Roy Cooper’s budget director to triple the state’s debt ceiling from $2.03 billion to more than $6 billion. The 6-3 vote of…
The N.C. Department of Justice is considering how to respond to a Superior Court judge’s ruling that the state unconstitutionally charged health insurance premiums to state retirees. Already wracked by $42 billion in unfunded liabilities, the State Health Plan might have to absorb billions of dollars…
The State Health Plan’s unfunded liabilities have soared to $42 billion, the latest figures show, and Treasurer Dale Folwell said expenses will exceed earnings again this year. “We’re going to dip into reserves by hundreds of millions of dollars this year in the State Health Plan,”…
State Treasurer Dale Folwell wants to be more than North Carolina’s version of the Dutch boy, his finger plugging the dike of underperforming state health and pension plans. Rather, he plans to vigorously attack the massive unfunded liabilities. Folwell, sworn into office Jan. 1 as the…
How large is the pile of unpaid bills new Gov. Pat McCrory and the state legislature have inherited? My lowball estimate is $72 billion.
If state government were a corporation subject to standard accounting requirements, it would be in breach of them.
Will our next governor and legislature respond to North Carolina's unfunded pension liability by raising taxes by $500 million or more a year to build up future reserves?…
In order to build up enough reserves to meet all its financial obligations, North Carolina governments would have to set aside more than $2 billion a year.
RALEIGH — The Institute for Truth in Accounting says North Carolina is violating the state’s constitutional balanced budget requirement, because the state does not fund its retirement system adequately.
