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North Carolina Treasurer election, 2016
2020 →
← 2012
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 |
March 15, 2016[1] |
November 8, 2016 |
Dale Folwell (R) |
Janet Cowell (D) |
Governor • Lt. Governor Secretary of State • Attorney General Down Ballot Auditor • Insurance Commissioner Agriculture Commissioner Superintendent of Schools • Treasurer Labor Commissioner |
December 21, 2015 |
March 15, 2016[1] |
June 9, 2016 |
July 26, 2016 |
November 8, 2016 |
January 7, 2017 |
North Carolina held an election for state treasurer on November 8, 2016, with a primary on March 15. Republican Dale Folwell won the election, giving the Republican Party control of the seat for the first time since 1876.
Overview
The treasurer's office in North Carolina manages the state's retirement system, investments, and unclaimed property and also provides financial support to local governments. North Carolina has been under Republican trifecta control since Governor Pat McCrory (R) assumed office in 2013. This represented a fairly rapid shift in partisan control for the state, which had been under Democratic trifecta control as recently as 2010.
The office of state treasurer in North Carolina has not been held by a Republican since 1876. Incumbent Janet Cowell (D) did not run for re-election to a third term, leaving the election an open race. Attorney Dan Blue III and accountant Ron Elmer competed for the Democratic nomination. Blue won the March 15 primary election after a competitive race. State Rep. Dale Folwell (R) was unopposed for the Republican nomination.
Folwell won the general election on November 8, 2016.
Candidates
Dan Blue III (D)
Attorney, former investment banker
Dale Folwell (R)
State representative, 2005-2013
| Click [show] to view candidates who were defeated in the primary elections | |||
|---|---|---|---|
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Results
General election
Dale Folwell defeated Dan Blue III in the North Carolina treasurer election.
| North Carolina Treasurer, 2016 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Republican |  Dale Folwell |
52.75% | 2,348,938 | |
| Democratic | Dan Blue III | 47.25% | 2,104,114 | |
| Total Votes | 4,453,052 | |||
| Source: ABC11 | ||||
Primary elections
Democratic primary election
| North Carolina Treasurer Democratic Primary, 2016 | ||||
|---|---|---|---|---|
| Candidate | Vote % | Votes | ||
| Dan Blue III |
58.4% | 553,459 | ||
| Ron Elmer | 41.6% | 393,834 | ||
| Total Votes | 947,293 | |||
| Election results via North Carolina State Board of Elections. | ||||
Repubilcan primary election
Dale Folwell (R) was unopposed for the Republican nomination and therefore did not appear on the March 15 primary ballot.
Context of the 2016 elections
Primary elections
A primary election is an election in which voters select the candidate they believe should represent a political party in a general election. Primaries usually take place several months before a general election. North Carolina utilizes a hybrid primary system. Parties decide who may vote in their respective primaries. Voters may choose a primary ballot without impacting their unaffiliated status.[2]
In North Carolina, when more than two candidates run in a primary election and one candidate does not receive more than 40 percent of the vote, the second-place candidate can request a runoff primary, sometimes referred to as a second primary. However, because of the redrawing of congressional and state legislative district boundaries, state executive elections in 2016 did not feature a runoff primary. This means the 2016 primary elections for state executives were unique and particularly competitive in that the winning candidate automatically received the party nomination regardless of the percentage of votes received.
North Carolina's primary elections took place on March 15, 2016.
Incumbent Janet Cowell (D)
Cowell was first elected treasurer in 2008, defeating Republican Bill Daughtridge in the general election. She won re-election to the office in 2012 against challenger Steve Royal (R). Prior to her tenure as treasurer, Cowell worked in the private sector as a consultant. She also worked as a financial analyst with HSBC Bank and Lehman Brothers before moving to North Carolina in 1997.
Party control in North Carolina
North Carolina had been under Republican trifecta control since Governor Pat McCrory (R) assumed office in 2013. This represented a fairly rapid shift in partisan control for the state, which had been under Democratic trifecta control as recently as 2010. North Carolina's electoral votes went to the Republican presidential candidate in every election cycle since 1980, with the exception of 2008 when the state voted to elect Barack Obama (D).[3] North Carolina began attracting significant attention as a presidential battleground state with Obama's unexpected 2008 win in the state—the first Democratic candidate to do so since Jimmy Carter (D) in 1976. For the past two presidential elections, the state's presidential preference influenced statewide elections. This influence, coupled with the recent trend of close elections in the state, promised competitive races in 2016.
Both Republican and Democratic candidates gained success in recent elections. Democrat Bev Perdue won the gubernatorial election and Democrat Kay Hagan defeated incumbent Republican Senator Elizabeth Dole in 2008. The state swung back to Republicans in 2012 when Republican presidential candidate Mitt Romney narrowly beat President Obama by a margin of 2 percentage points. McCrory defeated his Democratic rival by a small margin of victory that same year. The trend of close statewide elections in North Carolina continued into 2014: Republican Thom Tillis narrowly defeated incumbent Senator Kay Hagan (D) in a statewide race that year, earning 48.8 percent of the vote to Hagan's 47.3 percent.[4]
The office of state treasurer in North Carolina had not been held by a Republican since David A. Jenkins left office in 1876.[5][6][7] The last four elections have been decided by at least 7 percentage points, even in open races. The last close race was in 1996, when incumbent Harlan E. Boyles won re-election by a margin of about 3 percent.[6]
North Carolina Party Control: 1992-2025
Fourteen years of Democratic trifectas • Four years of Republican trifectas
Scroll left and right on the table below to view more years.
| Year | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 00 | 01 | 02 | 03 | 04 | 05 | 06 | 07 | 08 | 09 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Governor | R | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | R | R | R | R | D | D | D | D | D | D | D | D | D |
| Senate | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | D | R | R | R | R | R | R | R | R | R | R | R | R | R | R | R |
| House | D | D | D | R | R | R | R | D | D | D | D | D | D | D | D | D | D | D | D | R | R | R | R | R | R | R | R | R | R | R | R | R | R | R |
Race background
Janet Cowell's appointment to corporate boards
A call for Cowell's resignation came from the State Employees' Association of North Carolina Board of Governors in May 2016 following her appointment to two corporate boards. The board claimed that the appointments represented a conflict of interest as multiple shareholders in one of the companies managed funds for the state, including Wellington Management, which presided over $4 billion in pension funds. Cowell had received permission from the State Ethics Commission to serve on the boards prior to accepting the appointments and stated that she would voluntarily recuse herself from any decisions as treasurer that would involve the two companies, though she added that she did not anticipate that situation to arise.[8][9][10]
Republican candidate for treasurer Dale Folwell echoed the call for Cowell to resign either as treasurer or from the corporate boards. If Cowell did resign, Governor Earl Ray Tomblin (D) would have appointed an interim treasurer to serve until the inauguration of the winner of the November 8 general election.
Democratic primary election
The 2016 Democratic primary election for state treasurer of North Carolina was identified by Ballotpedia as a battleground primary election. Dan Blue III (D), a Raleigh attorney and son of state Sen. Dan Blue Jr., and Ron Elmer (D), a CPA and former 2012 candidate for treasurer, competed in the March 15 primary election after a heated race.[11] Blue ultimately won the nomination.
The two candidates differed on how to manage the state's pension fund, which had weakened significantly over the past 15 years.[12] Elmer wanted to eliminate outside managers and bring control of the fund back into the treasurer's office, while Blue cautioned against such a sweeping change, stating that the government "owe[s] a fiduciary obligation to the retirees to find the best managers they can find."[13]
Elmer criticized Blue for his career on Wall Street and for holding a fundraiser in New York City, denouncing the move as a "quick pay-out."[13][12] Blue countered that his career experience on Wall Street in fact made him particularly "suitable for this wonky position."[13]
Campaigns
Campaign finance
General election candidates
| Dan Blue III Campaign Finance Reports | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Report | Date Filed | Beginning Balance | Total Contributions for Reporting Period | Expenditures | Cash on Hand | ||||
| 2015 Year End Semi-Annual | December 31, 2015 | $1,000.00 | $5,400.00 | $(408.99) | $5,991.01 | ||||
| 2016 First Quarter | 02/29/2016 | $5,991.01 | $72,228.43 | $(26,283.47) | $51,935.97 | ||||
| 2016 Second Quarter | 06/30/2016 | $51,935.97 | $266,036.35 | $(132,721.42) | $185,250.90 | ||||
| 2016 Third Quarter | 10/22/2016 | $185,250.90 | $295,828.50 | $(459,075.83) | $22,003.57 | ||||
| Running totals | |||||||||
| $639,493.28 | $(618,489.71) | ||||||||
| Dale Folwell Campaign Finance Reports | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Report | Date Filed | Beginning Balance | Total Contributions for Reporting Period | Expenditures | Cash on Hand | ||||
| 2015 Year End Semi-Annual | December 31, 2015 | $5,898.58 | $111,800.00 | $(1,608.11) | $116,090.47 | ||||
| 2016 First Quarter | 02/29/2016 | $116,090.47 | $155,333.10 | $(8,925.16) | $262,498.41 | ||||
| 2016 Second Quarter | $262,498.41 | $164,499.55 | $(8,794.29) | $418,203.67 | |||||
| 2016 Third Quarter | $418,203.67 | $418,813.42 | $(553,470.57) | $283,546.52 | |||||
| Running totals | |||||||||
| $850,446.07 | $(572,798.13) | ||||||||
Polls
| The candidates for State Treasurer are Republican Dale Folwell and Democrat Dan Blue III. If the election was today, who would you vote for? | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Poll | Dale Folwell (R) | Dan Blue III (D) | Undecided | Margin of error | Sample size | ||||||||||||||
| Public Policy Polling March 18, 2016-March 20, 2016 | 36% | 39% | 25% | +/-3.4% | 843 | ||||||||||||||
| Note: The polls above may not reflect all polls that have been conducted in this race. Those displayed are a random sampling chosen by Ballotpedia staff. If you would like to nominate another poll for inclusion in the table, send an email to editor@ballotpedia.org. | |||||||||||||||||||
| Do you approve or disapprove of the job the General Assembly is doing? | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Poll | Approve | Disapprove | Not sure | Margin of Error | Sample Size | ||||||||||||||
| Public Policy Polling March 18, 2016-March 20, 2016 | 18% | 52% | 30% | +/-3.4% | 843 | ||||||||||||||
| Note: The polls above may not reflect all polls that have been conducted on this issue. Those displayed are a sampling chosen by Ballotpedia staff. If you would like to nominate another poll for inclusion in the table, send an email to editor@ballotpedia.org. | |||||||||||||||||||
Endorsements
| Key endorsements, Democratic primary election[14][12] | |
|---|---|
| Dan Blue III (D) | Ron Elmer (D) |
| Winston-Salem Journal | Forbes |
| Indy Week | State Employees Association of North Carolina |
| Incumbent Treasurer Janet Cowell | The Charlotte Observer |
| North Carolina Association of Educators | |
| Equality North Carolina | |
Campaign media
Note: If a candidate is not listed below, Ballotpedia staff were unable to locate any campaign media for that candidate. Do you know of any? Tell us!
Democrats
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Republicans
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About the office
The North Carolina treasurer is an elected executive position in the state government of North Carolina. The treasurer is the chief financial officer and official banker for the state. The treasurer's office manages the state's retirement system, investments, and unclaimed property, and provides financial support to local governments.
Incumbent
The incumbent was Janet Cowell (D). She was first elected in 2008 and is the first female to hold the position.
Authority
The state constitution establishes the office of treasurer in Article III, Section 7:
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(1) Officers. A Secretary of State, an Auditor, a Treasurer, a Superintendent of Public Instruction, an Attorney General, a Commissioner of Agriculture, a Commissioner of Labor, and a Commissioner of Insurance shall be elected by the qualified voters of the State in 1972 and every four years thereafter, at the same time and places as members of the General Assembly are elected. Their term of office shall be four years and shall commence on the first day of January next after their election and continue until their successors are elected and qualified. ... |
Qualifications
Article VI, Section 6 of the North Carolina Constitution establishes the qualifications of the office:
| Every qualified voter in North Carolina who is 21 years of age, except as in this Constitution disqualified, shall be eligible for election by the people to office. |
- qualified North Carolina voter
- 21 years of age
Past elections
2012
Incumbent Janet Cowell (D) successfully won re-election, defeating Steve Royal (R) in the November 6, 2012, general election.
| North Carolina Treasurer General Election, 2012 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic | Janet Cowell Incumbent |
53.8% | 2,313,877 | |
| Republican | Steve Royal | 46.2% | 1,984,827 | |
| Total Votes | 4,298,704 | |||
| Election results via NC State Board of Elections | ||||
To view the full electoral history for North Carolina Treasurer, click [show] to expand the full section. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Recent news
The link below is to the most recent stories in a Google news search for the terms North Carolina treasurer election. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
State profile
| Demographic data for North Carolina | ||
|---|---|---|
| North Carolina | U.S. | |
| Total population: | 10,035,186 | 316,515,021 |
| Land area (sq mi): | 48,618 | 3,531,905 |
| Race and ethnicity** | ||
| White: | 69.5% | 73.6% |
| Black/African American: | 21.5% | 12.6% |
| Asian: | 2.5% | 5.1% |
| Native American: | 1.2% | 0.8% |
| Pacific Islander: | 0.1% | 0.2% |
| Two or more: | 2.4% | 3% |
| Hispanic/Latino: | 8.8% | 17.1% |
| Education | ||
| High school graduation rate: | 85.8% | 86.7% |
| College graduation rate: | 28.4% | 29.8% |
| Income | ||
| Median household income: | $46,868 | $53,889 |
| Persons below poverty level: | 20.5% | 11.3% |
| Source: U.S. Census Bureau, "American Community Survey" (5-year estimates 2010-2015) Click here for more information on the 2020 census and here for more on its impact on the redistricting process in North Carolina. **Note: Percentages for race and ethnicity may add up to more than 100 percent because respondents may report more than one race and the Hispanic/Latino ethnicity may be selected in conjunction with any race. Read more about race and ethnicity in the census here. | ||
Presidential voting pattern
North Carolina voted Republican in six out of the seven presidential elections between 2000 and 2024.
Pivot Counties (2016)
Ballotpedia identified 206 counties that voted for Donald Trump (R) in 2016 after voting for Barack Obama (D) in 2008 and 2012. Collectively, Trump won these Pivot Counties by more than 580,000 votes. Of these 206 counties, six are located in North Carolina, accounting for 2.91 percent of the total pivot counties.[15]
Pivot Counties (2020)
In 2020, Ballotpedia re-examined the 206 Pivot Counties to view their voting patterns following that year's presidential election. Ballotpedia defined those won by Trump won as Retained Pivot Counties and those won by Joe Biden (D) as Boomerang Pivot Counties. Nationwide, there were 181 Retained Pivot Counties and 25 Boomerang Pivot Counties. North Carolina had six Retained Pivot Counties, 3.31 percent of all Retained Pivot Counties.
More North Carolina coverage on Ballotpedia
- Elections in North Carolina
- United States congressional delegations from North Carolina
- Public policy in North Carolina
- Endorsers in North Carolina
- North Carolina fact checks
- More...
See also
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North Carolina government: |
Previous elections: |
Ballotpedia exclusives: |
External links
Footnotes
- ↑ 1.0 1.1 The primary for U.S. congressional elections was rescheduled to June 7, 2016, following legal challenges to North Carolina's district maps. State races were unaffected.
- ↑ NC Election Connection, "Who Can Vote in Which Elections?" accessed January 3, 2014
- ↑ National Archives and Records Administration, "Historical Election Results," accessed September 15, 2016
- ↑ North Carolina State Board of Elections, "11/04/2014 Official General Election Results - Statewide," accessed August 30, 2015
- ↑ North Carolina Department of State Treasurer, "History of North Carolina Treasurers," accessed September 23, 2016
- ↑ 6.0 6.1 Our Campaigns, "Treasurer History," accessed September 23, 2016
- ↑ Carolana.com, "North Carolina State Government-State Treasurer," accessed September 23, 2016
- ↑ WUNC, "Calls for State Treasurer Janet Cowell's resignation grow," May 17, 2016
- ↑ WBTV, "Association:State Treasurer Janet Cowell should resign from board or elected position," May 16, 2016
- ↑ The Charlotte Observer, "Janet Cowell, pick your boss: The public or shareholders," May 2, 2016
- ↑ The News & Observer, "Ron Elmer gets key endorsement from SEANC in treasurer's race
- ↑ 12.0 12.1 12.2 Forbes, "North Carolina Finally Has A Good Choice For State Treasurer," March 1, 2016
- ↑ 13.0 13.1 13.2 The Charlotte Observer, "Democrats running for NC treasurer differ on changes to state pension," March 2, 2016
- ↑ Blue for North Carolina, "News & Headlines," accessed March 9, 2016
- ↑ The raw data for this study was provided by Dave Leip of Atlas of U.S. Presidential Elections.
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