RALEIGH — At its December meeting, the Local Government Commission approved multiple spending items and adopted a resolution regarding the financial monitoring of the Edgecombe County town of Speed.
The Local Government Commission (LGC) directed the town of Speed, with about 60 residents, to contract with public accountants to manage its financial affairs, with potential consequences including loss of charter control if the town does not comply. The LGC gave the town 30 days to confirm engagement in that contract and must open its financial and accounting records to LGC personnel.
The LGC, chaired by North Carlina Treasurer Dale Folwell, monitors the financial well-being of more than 1,100 local government units.
Several financing projects were approved during the meeting, including substantial investments in infrastructure, public facilities and community development. These approvals span various counties and involve different types of financial mechanisms like installment purchases, revenue bonds and state revolving fund loans.
LGC spending approvals for December included:
• Pineville (Mecklenburg County): $16.5 million for a new fire station
• Brunswick County: $33 million for sewer project bond refunding
• Inlivian (Mecklenburg County): $26 million for a low-income housing development
• Duck (Dare County): $2 million for a land acquisition
• Carolina Beach (New Hanover County): $2 million for a boardwalk restroom replacement
• Wilson (Wilson County): $400,000 for lead service line inventory
Folwell also held his 95th and final “Ask Me Anything” call with the media on Dec. 3. His monthly call with reporters earned him a “Sunshine Award“ for transparency in government operations from the N.C. Open Government Coalition in 2022.
“If you look at the demands of being the keeper of the public purse and if you look at my chronological age, I don’t have a lot of time to waste keeping information from you all that you deserve,” Folwell said when asked to reflect on holding the media calls. “And that’s the way I’ve always treated this office.”
He said the questions posed during the calls helped him and his staff to get back to reporters about their questions “on a timely basis.”
Folwell also thanked his staff for their hard work and commitment to holding the media calls over his tenure as treasurer.
“I’m going to miss the creativity and the courage and the hard work of the state employees,” Folwell said.
Folwell said the transition planning with Brad Briner, the incoming treasurer, is going well, and Folwell said he was committed to making it as smooth as possible. Folwell also indicated he did not know if Briner would continue the Ask Me Anything calls.
Folwell was elected state treasurer in 2016 and has served for two terms. He will depart the office in 2025 after unsuccessfully running for governor this past election cycle.
“I love fixing things,” Folwell said of his plans after he exits public office. “I love saving money. … Going forward — 28 years in public service, 20 years in Raleigh — I’m looking forward to getting back to my routine and my family. … Not just family, but friends and my community back in Winston-Salem.”
Folwell’s final call with the media can be viewed on the YouTube channel of the Office of the State Treasurer at youtube.com/@NCDST.
To find out more about Folwell, check out North State Journal’s “Portrait of a Politician,” a five-part series that does a deep dive into his life and what led him into public service.
