"In 2019, NCDOT spent nearly $7 billion against revenues of only $5 billion. In addition to the nearly $2 billion in overspending, NCDOT made $1.1 billion in 'short-term' loans from the Highway Trust Fund (HTF) for the Highway Fund (HF) between April 2018 and April 2019," stated a news release.
A Memorandum of Agreement (MOA) between the state treasurer's office, the Office of State Budget and Management and the Office of the State Controller was signed establishing formal oversight of and accountability for any short-term loans from the HTF to the HF during the life of the Build NC program, stated the release.
“I’m pleased to announce that the MOA has been signed so we’re able to move forward with the additional Build NC bond sale later this month,” Folwell said in the release. “We’re getting what we believe to be accurate information from DOT. I want to thank [NCDOT] Secretary [Eric] Boyette, his staff and industry leaders including the Carolina Asphalt Pavement Association for their diligence in getting the information we need to issue these bonds.
"The hardworking men and women at DOT and the hundreds of contractors across the state need sustainable and consistent funding to address current and future road-building and repair needs of North Carolinians."
Passenger Rail Study Offers New Details About Proposed Wilmington To Raleigh Route
Emma Dill
-
Apr 22, 2024
|
|
Severe Weather Postpones Trump Rally In Wilmington
Emma Dill
-
Apr 20, 2024
|
|
Will NC Be CNBC's Three-time Top State For Business?
Audrey Elsberry
-
Apr 22, 2024
|
“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...
Baristas are incorporating craft cocktail techniques into show-stopping coffee drinks, and bartenders are mixing espresso and coffee liqueur...
Lydia Thomas, program manager for the Center for Innovation and Entrepreneurship at UNCW, shares her top info and tech picks....
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.