Colleen C. Davis
State Treasurer

Debt and Cash Management

The Debt and Cash Management team is responsible for the oversight and administration of the State’s investment portfolio and debt management. In 2019, this resulted in $24 million in interest earned on the State’s investments, which is about $13 million more than the previous year. $250 million in debt is issued annually to support state and school projects, ensuring that our infrastructure remains well-maintained, and providing thousands of jobs. The overarching goal of this team to preserve the value of State funds and maximize investment income, while meeting the State’s operating needs and providing sound management of the State’s debt service by promoting responsible borrowing practices. There are two units within this division:

The Cash Management Policy Board (CMPB) provides oversight to this division.

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 Page.

Cash Management Unit (CMU):

The Cash Management Unit (CMU) of the State Treasurer’s Office, under the guidance of the Cash Management Policy Board, oversees the State’s general, special and school fund investment portfolios managed by outside managers. CMU manages the cash position to meet operational liquidity needs while minimizing idle cash balances. Funds are held in cash, endowment, operating, or collection and disbursement accounts based on liquidity requirements and otherwise invested to ensure security while maximizing yield.

Debt Management and Special Payments Unit:

The Debt Management and Special Payments unit handles both general obligation and school debt service payments, including redemptions and retirements of debt securities. It also administers “on-demand” payments for Grant-in-Aid, Municipal Street Aid, Special Law Enforcement Assistance (SLEAF), Ambulance, Fire, Police, and Pension.

State Share Debt Service Outstanding by Fiscal Year last updated May 16, 2019.

To contact the Debt and Cash Management team, please contact the related mailbox.

The following is a listing of related vendor contracts for banking and investments. Last updated September 11, 2019


Related Topics:  , , , , ,