State Treasurer Dale Folwell

State Treasurer Dale Folwell

Environment News Top Story

States that limit business with banks that ‘boycott’ fossil fuels could pay high cost, study says

Republican state policymakers’ efforts to boost fossil fuels by prohibiting their governments from doing business with companies that take sustainability into consideration has the potential to cost states millions, according to a study released Thursday. Researchers looked specifically at the possible effects on Florida, Kentucky, Louisiana, Missouri, Oklahoma and West Virginia if they passed Texas-like legislation limiting investment options on municipal bonds and found it could cost them between $264 and $708 million...

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Top Story Weekly Briefing

A holiday wish list for North Carolina pols and their pals

Well, the season of giving is upon us again, and while it’s clear that North Carolina ethics statutes prevent public servants and other “covered persons” from receiving any gifts that might influence their official actions, the law includes a number of – nudge-nudge, wink-wink – exceptions, so one hopes that perhaps there is a way to make the following list a reality. For Senator-elect Ted Budd: A collector’s edition set of official Donald Trump superhero trading cards.

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Top Story Weekly Briefing

NC Treasurer puts politics ahead of humanity’s future

Can morality play a role in capitalism? Should it? Human society has, of course, wrestled with this dilemma for centuries. For some market fundamentalists on the ideological right, all morality – at least when it comes to the roles of investors and consumers – is to be found in profits and bargains.

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Top Story Weekly Briefing

State Treasurer Dale Folwell should be doing a better job of investing NC pension funds

PW investigation raises important questions about holding billions of dollars in cash In a way, there’s something almost quaint about the investment strategy that North Carolina’s conservative Republican treasurer, Dale Folwell, pursues for the massive pension funds he oversees for the state’s public employees and retirees.

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News Policy Watch Investigates Top Story

PW special report: NC treasurer’s love for cash in the pension fund hobbled returns during the stock market boom  

State Treasurer Dale Folwell refers to himself as the “Keeper of the Public Purse.” And since he was elected to the job that includes managing pension funds for state and local government employees, Folwell has been stuffing that purse with cash.  Under Folwell’s direction, the pension fund holds more of its money in cash than the department’s own guidelines direct and has considerably higher cash holdings than similar public pension funds. North Carolina’s pension fund is among the 10 largest public pensions in the country. None of the other nine hold close to as great a proportion of their assets in cash as North Carolina does, according to their most recent financial reports.  

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News Policy Watch Investigates Top Story

State Treasurer backs legislation that would give millions in NC free or discounted hospital care. It faces more review.  

Millions of North Carolinians would be eligible for discounted or free hospital care, even after their insurance was billed, under proposed legislation debated this week.   People who make up to 200% of the federal poverty level – this year, that’s $55,500 for a family of four - would receive free hospital care, under House Bill 1039. People in households of four people with incomes between $55,500 and $166,500, or 600% of the federal poverty level, would be eligible for discounts.

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COVID-19 Education Top Story

As new school year gets underway, educators grapple with the COVID mask mandates

Tuesday morning was warm and muggy. Eyeglasses above tightly fitted masks fogged over with each breath.  At Bethesda Elementary School in Durham, students, teachers and staff members all complied with the district’s mandate to wear masks while indoors. It was the first day of classes for thousands of Durham Public Schools students who attend schools operating on a traditional calendar. Most of the state’s 1.5 million students started classes this week. 

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News Policy Watch Investigates Top Story

More financial trouble is predicted for NC cities and counties. What’s the solution?

In a budget crisis, these entities can lose control of their finances to the state Janet Gerald, mayor pro tem of Kingstown, knew high sewer costs were a financial strain for the town when she was took office three years ago. Still, the realization that the town needed to relinquish control of its spending hit her hard.   “I was a little disappointed,” she said. “I was sad. I was heartbroken. I was embarrassed. I was crushed.”

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