The State Treasurer’s Office organization includes an Executive Office and seven Divisions, Administration, Banking Services, Data Processing, Debt Management, Insurance, Investments, and the Legal Office. The Treasurer is the principal custodian of the State’s cash deposits, monies from bond sales, and other securities and collateral and directs the investments of those assets. The Treasurer’s duties include maintaining an ongoing relationship with the rating agencies, conducting outreach with State Agencies, keeping legislators informed of the operations of the State Treasurer’s Office, and serving on numerous boards and commissions including the Board of Public Works, the State’s highest administrative council.


The Treasurer is elected by a joint ballot of both houses of the General Assembly, a tradition begun following the Constitutional Convention of 1851, at which the Board of Public Works was created, with the Treasurer’s role designed to represent the Legislature. Because of her close relationship with the General Assembly, the Treasurer briefs the members of the Legislature on matters concerning the State Treasury ranging from reporting the results of a bond sale to discussing the latest information on the financial markets. The Treasurer is also responsible for producing this Annual Report to provide the Governor, the General Assembly, and the public with current information about the operations of the State Treasurer’s Office.