All tagged finance
The Town of East Laurinburg’s charter hangs in the balance as the Local Government Commission recently voted unanimously to impound the town’s books and assume full control of its finances due to misappropriation of funds. It comes after an investigative report in October by State Auditor Beth Wood’s office.
When North Carolinians are free to trade with whomever they choose, be it South Carolinians or South Koreans, some local businesses may lose sales. The case for markets isn’t based on promises of cost-free benefits or perfect outcomes. No such promises could ever be honored in the real world.
North Carolina has collected more than $6 billion in state taxes than was originally forecast in May 2020 by state economists. That’s the finding of a report presented to members of the Joint Full Chairs Appropriations Finance Committee by the nonpartisan Fiscal Research Division at the General Assembly and the Office of State Budget and Management.
Today, Governor Roy Cooper shared his recommendations for how North Carolina can most effectively invest in its recovery through the American Rescue Plan (ARP). The $5.7 billion in federal funds offer a once-in-a-generation opportunity to invest in North Carolina and ensure a shared recovery from the global pandemic.
Rep. Julia Howard, R-Davie, has been removed from her powerful role as senior chair of the state House’s tax-writing Finance Committee. Howard has been reassigned to the budget-writing Appropriations Committee, where she’ll serve as a member at large.
While an annual report from a financial watchdog shows most U.S. cities are poorly prepared to face the fiscal fallout from the COVID-19 pandemic, the three North Carolina cities examined showed stronger numbers.
