State Treasurer Brad Briner announced the discovery of $170 million in dormant state funds. The money had been unspent for years and will now be used to service debt and support capital projects approved by the General Assembly or, in some cases, by state voters, according to a release from the North Carolina Department of State Treasurer website.
Briner stated that reviewing and maintaining North Carolina’s finances is a key responsibility of the Treasurer’s office. He credited the State and Local Government Finance Division for helping identify the funds, noting Jeff Poley’s role in the process.
By law, the $170 million can only be applied toward debt repayment or infrastructure and capital projects authorized by state leaders or voters.
Since taking office, Briner has implemented financial reviews and oversight measures that led to the discovery of these funds. Specific plans for allocation have not yet been announced.
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