Janet Cowell

Janet Cowell
nctreasurer.com

North Carolina’s 2015 Debt Affordability Study shows the state is ready to begin issuing debt again and making big investments.

State Treasurer Janet Cowell says the Debt Affordability Study shows the General Fund has the capacity to take on $700 million a year and Transportation debt capacity is $1 billion.

Janet Cowell
nctreasurer.com

State Treasurer Janet Cowell is meeting with legislators this short session to push her proposed pension investment reforms.  But the reforms don’t include who runs the pension fund. 

This is what Treasurer Janet Cowell says she’s been hearing in the state senate.

“Because some people say if it’s not broken, don’t fix it.”

Cowell says in the short session, she’s pushing for an independent audit and greater transparency, but talk of moving the $86 billion pension fund from a sole fiduciary investment system to a board-of-trustee model should wait until next year.

Host Frank Stasio and guests on the State of Things follow the trail of money.
RambergMediaImages / Flickr/Creative Commons

There's a good chance Treasurer Janet Cowell will give up sole control of the state pension fund.

A commission set up to review North Carolina’s Retirement Systems investment program has recommended the state shift how the pension fund is run.

The North Carolina Investment Fiduciary Governance Commission recommends the state move from a sole fiduciary investment system to a model governed by a board of trustees.

stack of money
Flickr user 401(K)2013

An Ohio-based financial services company claims North Carolina’s Pension Fund is one of the worst managed in the country. 

Benchmark Financial Services was hired by the State Employees Association of North Carolina (SEANC) to conduct a forensic investigation of the state pension fund.

Hillside Student Bank
Leoneda Inge

Financial literacy is a growing part of the K-through-12 curriculum across the state.  But Hillside High School in Durham has taken the charge to the next level and opened a functioning bank branch at the school.

Organizers say that students, staff, and families will be able to open accounts, as well as deposit funds to checking and savings accounts right at the Hillside branch.  The program also provides internships and serves as a hands-on learning center for students to gain banking skills.

On Tuesday, North Carolina voters will elect a new governor. They'll also make selections for Council of State offices. Isaac-Davy Aronson has this look at the two candidates for State Treasurer.

 Steve Royal thinks North Carolinians should be very worried.

Steve Royal: "We cannot continue promising people this money in the future at the rate we are right now. It simply is not sustainable."