Tag Archive for: #nctreasurer

Dale Folwell

TownTalk: State Treasurer Folwell On Upcoming Open Enrollment And More

/by

There may be departments, offices and agencies within state government that hog the spotlight and get attention in any number of ways, but few affect the everyday goings-on of residents of North Carolina like the office of the state treasurer.

Treasurer Dale Folwell, closing out his second term as the state’s chief financial officer, wears a variety of hats, from chairing the Local Government Commission and connecting people to “lost” cash, to advocating for the state retirees’ pension and state employees’ health insurance.

This year’s open enrollment period for state employees and retirees runs from Sept. 30 – Oct. 25. “It’s the longest open enrollment period we ever had,” Folwell said, “and that’s by design.”

This is an important time because the state is transitioning to a new third-party administrator. In January, Aetna will take over from Blue Cross, and Folwell said folks will need to make some choices during open enrollment.

“Pay attention to your emails, don’t procrastinate, and read what it says,” Folwell said on Monday’s TownTalk.

If you’re among 150,000 or so state retirees on Humana’s Basic Plan, you should be all set – no action necessary. But the 600,000 or so other state employees and retirees will need to make sure they choose from their options during open enrollment.

There’s a bus tour happening now to bring information about the transition to residents across the state and McGregor Hall in Henderson will host a stop on Wednesday, Oct. 2 from 3-5 p.m. Visit https://www.shpnc.org/ and follow the links to register for this or other dates.

Folwell will be retiring at the end of this term – an unsuccessful bid for governor meant he was not eligible to file for re-election as treasurer, but he’s been no lame duck during his last months as treasurer.

Just last week, the LGC approved two key projects with local ties – a $400,000 for the City of Henderson to address lead pipe mitigation and a multi-million-dollar project to lay 23+ miles of water lines in the Kittrell area and to make improvements to that town’s 100,000-gallon water tank.

Henderson and Vance County are just two of the approximately 1,200 units that report to the LGC, which Folwell said was established 75 years or so ago as a measure to protect municipalities and county governments from insolvency.

Once Folwell hangs up all the hats associated with his current office, he said he’ll have plenty to keep him busy.

“I love fixing and I love saving,” he explained. As for the fixing part, he ticked off three things that will get his attention: his relationship with God, his family and motorcycles.

“I think I ‘m going to be very happy doing that,” he said.

 

CLICK PLAY!

 

Franklin County Logo

Franklin Asking State Commission For $15.1 Million To Improve, Upgrade Emergency Radio System

/by

Franklin County has submitted an application to the state’s Local Government Commission for funding to improve its public radio system used by law enforcement and emergency officials. It is one of several applications that will be reviewed when the LGC meets remotely tomorrow (Tuesday, Feb. 1).

The meeting will begin at 1:30 p.m. and the public may attend virtually at the following Go To Webinar link:

https://attendee.gotowebinar.com/register/8801061036096403215

Franklin County officials want the LGC to sign off on a private $15.1 million installment contract to improve spotty coverage and reliability of the public radio system used by law enforcement, fire, emergency and other agencies, and to expand its coverage across the county, according to a press release from N.C. Treasurer Dale Folwell.  County commissioners also are seeking a separate $4.4 million private installment contract to install new water/sewer meter equipment and for new billing system software; no tax increase is expected for either project, according to the statement.

“The LGC, chaired by State Treasurer Dale R. Folwell, CPA, and staffed by the Department of State Treasurer (DST), has a statutory duty to monitor the financial well-being of more than 1,100 local government units. The commission also examines whether the amount of money units borrow is adequate and reasonable for proposed projects and confirms the governmental units can reasonably afford to repay the debt,” the statement read.

Other projects include beach renourishment projects totaling close to $40 million in Dare and Onslow counties following recent hurricanes.

The LGC is expected to vote Tuesday on $3 million in grants from the Viable Utility Reserve. The requests – $781.000 in merger/regionalization feasibility studies and just over $2.4 million in asset inventory and assessment studies – would allow local government units identified as having distressed water/wastewater systems to begin working toward long-term solutions for their systems. The reserve was established in 2020 by the N.C. General Assembly to improve the viability of distressed water and wastewater systems in the state.

LGC members also are being asked to approve several cost-saving refunding proposals at lower interest rates, as well as increases in revolving loans, including a $4.7 million loan to the city of Oxford for replacing water mains that are at least 100 years old.

 

 

 

 

 

 

 

 

 

Dale Folwell

Town Talk 04/15/20: Treasurer Folwell Discusses State Pension Plan, COVID-19 Recovery

/by

THIS STORY IS PRESENTED IN PART BY DRAKE DENTISTRY

North Carolina State Treasurer Dale R. Folwell, CPA, appeared on WIZS Town Talk Wednesday at 11 a.m.

Folwell, who has served as NC State Treasurer since 2017, is recovering after being hospitalized for five days with COVID-19. “I am thankful for all the caregivers, God, my family, and the prayers and thoughts that got me through this,” Folwell said.

He also expressed appreciation for the healthcare workers who encouraged him through the recovery process. Folwell said doctors and nurses offered emotional support while he was separated from his family due to the strict no visitor policies currently implemented at many hospitals.

Cleared by doctors and health officials to resume his duties, Folwell reassured listeners that the state pension plan is “one of the most conservatively managed in the country, if not the world.”

“Last time we talked [WIZS Town Talk January 23, 2020], we were reassuring people that we were still in the check delivering business, and that’s still the case,” stated Folwell. “Obviously, we’ve had a lot of market volatility since then, but our state pension plan is in great shape, and we continue to be in the check delivering business.”

As of earlier this week, the state pension plan was down approximately 4.2% for the calendar year, while the S&P 500 was down by almost 14%. For the fiscal year that began June 2019, the state plan is up .6%, while the S&P is down approximately 5%. While down, Folwell said he is encouraged by the fact that the state plan is still currently outperforming the stock market.

To help offset some of the losses, Folwell said the state is “looking at some of our cash balances and taking advantage of some of the opportunities being presented to us. Those who depend on this – those that teach, those that protect and those who otherwise serve – will not have to think about this.”

Calling the current economic downturn a “combination of 9/11 and the Great Recession, all combined into one,” Folwell admitted, “Revenues are down, expenses are up, collections are down, and it’s just not a good circumstance for any business.”

Following today’s interview with WIZS, Folwell addressed the current state of the pension plan, among other treasury-related topics, in a monthly “Ask Me Anything” session open to media representatives.

The monthly calls are an opportunity for reporters to ask Folwell questions about N.C. Department of State Treasurer (DST) initiatives, including the Retirement Systems Division, the State Health Plan, the State and Local Government Finance Division and the Unclaimed Property Division.

Audio of the monthly “Ask Me Anything” calls is available by clicking here.

To hear the interview with Folwell in its entirety, go to WIZS.com and click on Town Talk.