North Carolina State Treasurer Briner Uncovers $170 Million in Unspent Taxpayer Funds

This week, North Carolina State Treasurer Brad Briner announce that his office uncovered $170 million in unspent and unallocated funds, as his team reviewed the state’s account. Legally, these unspent funds can only be used to refund debt, capital projects approved by the General Assembly, and in some instances, projects approved by the state.

“The most important part of the Treasurer’s job is to review and maintain the finances of North Carolina,” said Treasurer Briner. “Through our review, we found $170 million of cash that has been sitting idle in the state’s accounts for years. That money can be put to good use, and we intend to do exactly that – reducing our outstanding debt to improve the fiscal health of the state. Thank you to our State and Local Government Finance Division team, and particularly to Jeff Poley, for their important roles in finding these assets.”

Increasing operational efficiency and effectiveness of the Department of State Treasurer has been a focus of Treasurer Briner since the day he took office. The Department has undergone reviews of internal policies, procedures and practices with the goal of producing greater returns for North Carolina. The uncovering of these funds is the latest achievement resulting from these efforts.