Audit spurs NC treasurer to changes in money system upgrade

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North Carolina’s treasurer is putting more focus on the pending upgrade of a computer system that makes $20 billion in payments and processes more than five million state checks.

State Auditor Beth Wood’s office on Tuesday released a report warning that the state’s Core Banking System could face glitches when it goes live in July. State Treasurer Janet Cowell says she agrees with the findings and has made changes to ensure success.

The computer system manages money collected and disbursed by all state agencies, institutions, universities, and community colleges. Federal funds and taxes paid to the state also flow through the system.

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