Treasurer Folwell Supports Having No-Fan NASCAR Racing in Charlotte During May

If Any Organization Can Get It Right,

It's Charlotte Motor Speedway and NASCAR

State Treasurer Dale R. Folwell, CPA, announced his support for reopening Charlotte Motor Speedway (CMS) for the NASCAR All-Star Race and the Coca-Cola 600 in May. Treasurer Folwell’s call for Gov. Roy Cooper to modify his executive order that canceled all NASCAR races in the state echoes five Charlotte-area NC Senators to allow the event to proceed WITHOUT fans in attendance.

As a former motorcycle mechanic, racer and now keeper of the public purse, Treasurer Folwell is an avid NASCAR fan. His first visit to a NASCAR race was in the late 1960s at CMS, where he helped clean the bathrooms in the infield.

“Over my lifetime I have observed Michael Waltrip destroying a car at Bristol to such a degree that all that was left was him sitting in his seat, on the track and nothing else around him,” said Treasurer Folwell. “I also observed Carl Edwards flipping through a catch fence at 210 miles per hour at Talladega and, just this year, Ryan Newman surviving one of the most horrific crashes of my lifetime at Daytona.”

Folwell added that whether it’s teaming up with scientists or the National Aeronautics and Space Administration, NASCAR IS SAFETY. It is an organization that is accustomed to big goals and short deadlines.

“There is no question that they can figure out what’s right, get it right, and keep it right for the upcoming All-Star Race and the Coca-Cola 600,” said Treasurer Folwell. “As State Treasurer and a member of the Council of State, given the opportunity, I will support opening CMS for non-fan events next month.”

The Department of State Treasurer (DST) serves the people of North Carolina through a variety of functions related to the financial health of the state and its citizens. Folwell serves as the state’s banker and chief investment officer and is responsible for approximately $200 billion in assets. Just the pension assets alone, represent the 26th largest pool of public money in the world.

The department administers the employee retirement systems for more than 900,000 public workers, along with their 401(k), 457 and 403(b) plans. DST also oversees the State Health Plan, which provides health care coverage to more than 727,000 teachers, state employees, retirees, current and former lawmakers, state university and community college personnel, and their dependents. Fiscal assistance and expertise are provided by the department to local governmental units by aiding them in the sale of local government debt obligations and in maintaining sound budgeting, accounting, and reporting procedures. The department also administers the NC Cash unclaimed property database.