(The Center Square) – No material errors were found and a clean opinion has been offered in the audit of North Carolina’s Department of State Treasurer for the year ending June 30, 2024.
The last full fiscal year of former Treasurer Dale Folwell’s eight-year tenure was analyzed by the staff in the state auditor’s office.
“The North Carolina Department of State Treasurer manages a wide variety of public funds, from the State Health Plan to North Carolina’s unclaimed property fund,” reads the audit letter to the governor, General Assembly leaders, and first-term Republican Treasurer Brad Briner. “The audited statements make for a clean opinion and can be relied upon by management.”
Oversight provided by the state treasurer is in three major governmental funds, 17 fiduciary funds and one component unit. North Carolina carries triple-A bond ratings for each of the Big Three agencies – S&P Global Ratings, Moody’s Investors Service and Fitch Ratings.
First-term Republican Dave Boliek last week provided a partial audit related to the State Health Plan that served 750,000 active and retired workers. It has projected losses of $1.5 billion – $199 million, $507 million, and $862 million for 2025 through 2027 – over the next three years.
Folwell was renowned and praised by members of both major parties as the keeper of the public purse. He was elected in 2016 and in the last election cycle made a run for governor. He was defeated in the Super Tuesday primary last March.
