State Treasurer puts Cary on notice
In 2026 the State placed Cary on its Unit Assistance List, with enhanced oversight of the Town's budget and contracts.
Due to the ongoing investigation by the State Auditor and increased financial risks, the Town of Cary was placed on the NC State Treasurer’s “Unit Assistance List” in 2026. Sort of like double-secret probation for Towns (aka Units).
Cary joins our friends in Rocky Mount, Greensboro and Zebulon. Towns on that list must submit to enhanced oversight and budget accountability for capital assets and vehicle contracts (over $50K) due to increased risks noted over several years.
While it’s not a good list to be on, at least the State is taking our financial issues seriously. Hopefully this will not affect our ratings with the bond rating agencies, which would lead to much higher interest costs on our $389 million in outstanding debt (which includes about $371 million in outstanding bonds).