The Operations and Funds Management (OFM) division consists of three units. These units are tasked with overseeing the movement of State funds across a variety of channels and providing operational and transition support on office and state-wide initiatives. The Cash Management Policy Board (CMPB) provides oversight to certain activities within the OFM division.
Note: The Office of the State Treasurer does not manage any pension funds. Please visit the Office of Pensions website for pension investment information. For information on publicly available investment plans, such as ABLE or 529 Education Savings, please refer to the Contributions and Plans Management page. Bond Bills and other appropriation information can be found on the Controller General section of the Delaware General Assembly website.
The Debt and Cash Management Unit oversees the State’s investment and debt portfolios and the State’s special payments program. In 2023, this resulted in $36.2 million in interest earned on the State’s investments. In 2023, Delaware issued $380 million in debt to support state and school projects – ensuring that our infrastructure remains well maintained while creating thousands of jobs.
This team’s mission is to protect the value of State funds, maximize investment income, provide for State operating needs, and ensure sound management of the State’s debt service by promoting responsible borrowing practices.
OST, under the guidance of the Cash Management Policy Board (CMPB), oversees the State’s investment portfolios, which are managed by outside investment professionals. The Debt and Cash Management Unit is responsible for ensuring that funds are available to meet the State’s daily operational needs, including paying employees and vendors. Investment decisions are made by the Board and executed by OST.
All investments are managed in accordance with the Board’s Investment Guidelines, which are reviewed and updated periodically by the Board. The Office of the State Treasurer and the Cash Management Policy Board collaborate to structure the investment portfolio in a way that minimizes idle cash while maximizing return.
To learn more about how the State’s investment portfolio is managed and to read the latest version of the Investment Guidelines, visit the Cash Management Policy Board page.
To learn more about how the State’s investments performed in the most recent quarters:
To learn more about how the State’s investments performed in past years:
DCM is responsible for paying the State’s bond holders. This includes both general obligation and school debt service payments, including redemptions and retirements of debt securities. Debt issuance is managed by the Department of Finance, though the Treasurer is one of the State’s four issuing officers, responsible for signing off on any new debt issued by the State. Frequently Asked Questions – Last Updated September 2024 *New* BAN/Bond Application Intake Process Workshop State Share Debt Service Outstanding by Fiscal Year
DCM administers special “on-demand” payments for recipients of State funds through programs such as Grant-in-Aid, Municipal Street Aid, Special Law Enforcement Assistance (SLEAF), Ambulance, Fire, Police, and Pension. The Municipal Street Aid Annual Report form can be found here: The Police Pension Registration form can be found here:
State agencies accept over $1.5 billion million in payments annually through credit card and ACH transactions. The Merchant Services Unit ensures that agencies have the resources and support needed to process these transactions quickly and safely. The Merchant Services team works closely with Delaware’s Department of Technology and Information to help agencies meet their annual compliance requirements.
The State of Delaware is required to complete Annual PCI (Payment Card Industry) Compliance. View Resources for State Agencies-PCI-DSS.
The Program Support Unit provides critical assistance on large scale transformational projects. The Project Support team is tasked with ensuring smooth, well executed transitions when it comes time to upgrade our systems or vendors. This includes projects that impact the entire State, including the current banking modernization project.
To contact the Operations and Funds Management team, please email the department most relevant to your inquiry:
The following is a list of local banking branch locations. Last updated August 17, 2023
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