Treasurer Folwell to Discuss Value of Local Government Commission at AMA | Eastern North Carolina Now

Press Release:

    (Raleigh, N.C.)     State Treasurer Dale R. Folwell, CPA, will discuss the vital work and growing workload of the Local Government Commission (LGC), and why the unique state agency is crucial to good government during his Ask Me Anything session with reporters on Tuesday, Sept. 12.

    The Local Government Commission monitors the financial well-being of 1,100 local government units, provides guidance on statutory requirements and offers other assistance. On rare occasions the LGC must assume financial control of local government units that are in dire financial condition and help them get back on track. The Martin County town of Robersonville is a case in point. The LGC took over its fiscal affairs in October 2020, but after collaboration and improvement by town officials LGC members and staff will return financial control to Robersonville at the commission's Sept. 12 meeting.

    That meeting also will feature discussion of the controversial Project Grace proposed development in downtown Wilmington. New Hanover County officials and Treasurer Folwell are working to resolve differences in financing mechanisms for the project.

    Tuesday's Q&A will mark the 80th consecutive month Treasurer Folwell has offered media representatives the innovative opportunity to interview him on topics of their choosing.

    The LGC, chaired by Treasurer Folwell, is staffed by the Department of State Treasurer (DST). The commission has a statutory duty to approve most debt issued by units of local government and public authorities in the state. The commission examines whether the amount of money that units borrow is adequate and reasonable for proposed projects and confirms the governmental units can reasonably afford to repay the debt.


   Contact:
   Email: press@nctreasurer.com
   Phone: (919) 814-3820