The Local Government Commission (LGC) today issued a warning to the city of Rocky Mount to keep its books balanced or else the Commission may be forced to assume control of the town’s finances. This comes after months of LGC communications with the city and after stern warnings to elected city officials about their inadequate oversight of budget and fiscal control practices, which have contributed to unchecked overspending and unreasonably optimistic revenue projections.
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North Carolina Capital Facilities Finance Agency Changes Bring Results
One year after the State Health Plan (Plan) urgently needed to correct massive deficits, it is now squarely focused on cost-control strategies. In a meeting today, the Board of Trustees was briefed on the financial outlook of the Plan and took a vote on 2027 benefit design changes. The vote aims to strengthen the Preferred Provider Program by utilizing a three-tier network structure meant to encourage members to choose high-value providers.
The North Carolina Department of State Treasurer announced a partnership between EmergeOrtho and the State Health Plan today. This further expands access to high-quality, no-cost surgical care for members across North Carolina through the Plan’s Lantern surgical benefit.
Today the Department of State Treasurer and Novant Health announced the first major expansion to the State Health Plan’s (Plan) Lantern surgical benefit. This will significantly broaden access to no-cost, high-quality surgical care for hundreds of thousands Plan members across the state. The announcement was made during a press conference at Novant Health Kernersville Medical Center.
Surging population growth in the town of Holly Springs has resulted in the need for new and upgraded infrastructure to meet higher demand, and the Local Government Commission (LGC) today approved $135 million in revenue bonds for projects to meet the town’s needs. The town, located in Wake County, has seen a population boom from 24,661 in 2010 to 48,674 in 2024, according to U.S. Census data.
For the first time since its creation in 1985 the North Carolina Supplemental Retirement Plans’ (SRP) 401(k) Plan and NC 457 Plan topped $20 billion in investment assets, State Treasurer Brad Briner announced today. The major milestone was reported at the Supplemental Retirement Board of Trustees’ quarterly meeting. The market value of investments increased from $17.7 billion at the end of 2024 to $20 billion at the close of 2025. The assets have more than doubled in the past seven years. Currently there are 325,714 participants in 401(k) and 457 plans.
The State Health Plan (Plan) held its inaugural meeting of the newly established Medical Policy Advisory Committee on Feb. 25. The committee’s work is intended to strengthen the Plan’s ability to evaluate emerging treatments, ensure evidence-based decision-making and promote high-quality, patient-centered care for members.
The North Carolina Investment Authority (NCIA) Board of Directors met today and voted to make changes to how the North Carolina Retirement Systems’ (NCRS) makes investment decisions. “These were the final steps in the construction of North Carolina’s newest state agency, the North Carolina Investment Authority,” State Treasurer Brad Briner said. “We now have approved the Investment Policy Statement and the incentive compensation plan.
Treasurer Brad Briner took out his personal checkbook today to pay off the first loan repayment due for the Cashflow Loan Program. The loans, which were distributed last year to Hurricane Helene-affected communities, had an initial, nominal $1 repayment due this fiscal year. As many communities are still continuing their recovery efforts, the treasurer wants to take one clerical action off their plates.