ABOUT THE TREASURER'S OFFICE
Our Mission
As guardian of your taxpayer dollars, the Office of the State Treasurer shall uphold the highest standard of professionalism and integrity. We are committed to effective management of public resources through responsible cash, investment, and debt management practices.
We strive to provide quality service to constituents and to promote financial education and economic opportunity for our residents and businesses.
We practice Ethical Conduct, Compliance with Policies and Regulations, and Operational Transparency.
Office Administration
This team is responsible for developing and directing the overall strategic goals and missions of the State Treasurer’s Office. Specifically, this team prepares the office’s operating budget, performs personnel and fiscal functions, and seeks to develop new and innovative ways to use technology to create efficiencies in Treasury processes and procedures. This team is also responsible for the disbursement of certain state aid programs (Grant-In-Aid, Municipal Street Aid, State Aid to Local Law Enforcement, etc.) and the development of any and all community outreach initiatives.
Treasury Services
This team provides statewide treasury services for agencies and institutions of the State of Delaware. There are three major functions including Investments, Banking Services, and Debt Management that are performed by the Treasury Services. In addition, the State’s daily cash position is settled each working day to make sure all projected receipts and disbursements are accounted for and that there is enough liquidity to satisfy the State’s daily cash needs.
Receipts and Disbursement Services / Check Services
This team’s main responsibility is reconciling the State’s general collection and disbursement accounts. This includes but is not limited to processing cash receipts, printing and distributing checks to vendors, employees, pensioners, revenue tax refunds, and foster care payments, producing the electronic payments for the state vendor account, reissuing stale dated checks and lost vendor and employee payroll checks and the reporting and payment of state payroll taxes.
Defined Contribution Plans
This team is responsible for the administration of the State of Delaware Defined Contribution Plans, to include the Deferred Compensation 457(b) Plan, the 401(a) MATCH Plan, and the 403(b) Plan. Responsibilities for these plans include biweekly payroll functions, daily record keeping processes, and continuous communication with participants as well as investment vendors. Moreover, marketing initiatives such as partnering with Fidelity and the Delaware Money School assist this unit in the promotion of these workplace savings plans. This unit also organizes the Deferred Compensation Council, which meets twice a year and is responsible for oversight of the investment portfolios.
