The primary role of the State Treasurer's Office (STO) is to be a caretaker of assets it holds on behalf of the state, its entities and its citizens. STO safeguards the funds under management with the goal of achieving the highest possible risk-adjusted return consistent with an appropriate level of safety, liquidity and consideration of the unique circumstances for each fund. The funds are managed by the Treasurer and a team of internal professionals who follow the Investment Policy Statement adopted by the State Loan and Investment Board (SLIB). The team also receives counsel from an Investment Funds Committee (IFC) comprised of industry experts. The investment team is supported by both the Financial Accounting Division and the Administration Division. The role of caretaker extends to the Unclaimed Property Division, the mission of which is to receive personal property considered abandoned by owners from designated holders and return the property to its rightful owner.
Agency Background and Structure
The State Treasurer's Office is made up of four divisions: Operations, Investments, Financial Accounting and Unclaimed Property. The Office is authorized 35 positions, of which 31 are filled. Agency personnel provides investment management, financial management and processing, unclaimed property management, computer technology and administrative support.