The Treasurer's Office
The State Treasurer's Office serves as the State of Vermont's banker and chief investment officer. The office is tasked with accounting for the receipt and disbursement of public funds, short and long-term debt management, investment of state funds, administration of three retirement systems and pension funds, collecting and returning any unclaimed financial property to rightful owners, improving the financial literacy of Vermonters, and advising state policymakers on various fiscal and policy issues.
The State Treasurer's Office is responsible for a wide range of administrative and service duties:
-Investing state funds.
-Issuing all state bonds authorized by the General Assembly.
-Serving as the central bank for state agencies.
-Managing the state's cash balances, processing checks, and the reconciliation of payroll and vendor bills.
-Protecting and returning unclaimed or abandoned financial property. (Held in trust by the state until the rightful owner is located.)
-Administering the three major pension plans, the deferred compensation plan, and the defined contribution plan for state employees, teachers, and participating municipalities.
The State Treasurer's Office takes these responsibilities seriously, managing the resources within its purview effectively and efficiently and promoting prudent financial practices in the State of Vermont.
The State Treasurer's Office is organized into an Executive Office and five divisions:
1. The Executive Office is responsible for overall strategic planning, legislative initiatives, constituent relations, debt management, financial literacy, and supervision of the divisions.
2. The Treasury Operations Division is responsible for the state's banking, cash management, and financial transaction services.
3. The Retirement Division administers three public retirement systems authorized by the legislature.
4. Investment and Debt Management Services provides investment services for the State of Vermont and the three pension systems administered by the office, as well as debt management.
5. The Unclaimed Property Division serves as the caretaker of abandoned or unclaimed financial property, while seeking to return it to its proper owner.
6. Technology Services is responsible for developing and maintaining automated systems, providing appropriate access to information, maintaining the official website, and maintaining the office network's overall security. Plus, the critical task of managing automated interactions with other state departments and entities outside of state government.
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