Conservatives in North Carolina have prioritized increased government transparency and efficiency. From the REINS Act to increased independence of the State Auditor, one of the common themes has been peeling back bureaucratic red tape and providing a thorough examination of government spending.

In keeping with the thorough review and accounting of state government, newly elected State Treasurer Brad Briner announced this week his office found $170 million in unspent tax dollars.

From Treasurer Briner’s press release:

“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.”

There are legal limitations as to how this money can now be spent. By law, it can only be used to refund debt, fund capital projects approved by the General Assembly and, in some instances, projects approved by the voters of the state.

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. 

WRAL further reported that the account was opened about 25 years ago.

Treasurer Briner’s thorough accounting and review is already bringing results and is yet another victory for conservative’s emphasis on efficiency and transparency.