UPDATE: The North Carolina Department of Transportation (NCDOT) has just announced a significant enhancement to its financial transparency efforts. As of this week, the department will issue a weekly financial report every Friday, providing the public with vital insights into its fiscal status through the “NCDOT Cash Watch Numbers” report.
This new initiative, mandated by Session Law 2019-251 of the North Carolina General Assembly, aims to illuminate the financial movements within the department. The latest report is now live on the NCDOT website, offering immediate access to crucial data that impacts the state’s transportation finances.
Each report kicks off with the previous report’s combined cash balance, ensuring that North Carolinians are kept informed about how their tax dollars are being managed. The weekly updates include detailed receipts, broad disbursement categories, and culminate with the current combined cash balance, giving a clear picture of the department’s financial health.
In an effort to maintain transparency, the NCDOT will also provide a “reserved cash” snapshot in these reports. This segment highlights funds earmarked for specific projects, including Build NC bonds, GARVEE bonds, and Energy Savings-Roadway lighting projects. These funds are held in a “Trustee Account,” safeguarding them until they are needed for their intended purposes, as stated in the NCDOT press release.
It’s critical for residents to note that the weekly cash balance is a dynamic figure, subject to daily changes in revenues and disbursements. While these reports shed light on the department’s immediate financial situation, they do not reflect the more stable official monthly cash balance, which is reconciled after month-end.
The NCDOT assures that these weekly reports will continue, even during holiday periods, published on the next business day. This commitment underscores the department’s dedication to ongoing governmental financial clarity.
As North Carolina residents seek more accountability from their government, these weekly financial updates represent a proactive step toward building trust. The NCDOT’s efforts come at a time when transparency in public spending is more critical than ever, making it imperative for citizens to engage with these updates.
Stay tuned for next week’s report, as the NCDOT continues to reveal insights into how taxpayer funds are utilized in maintaining and improving the state’s transportation infrastructure. This ongoing initiative not only benefits the public but also sets a precedent for other states to follow in enhancing financial transparency.
For more details and to view the latest report, visit the official NCDOT website.
