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Smart Money Choices is a free personal financial planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.

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Recently the Treasurer of State implemented an electronic check processing system that saves taxpayer dollars and creates a more efficient process. Do you use online banking?


  

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Treasurer’s Office Receives Third “Clean” Annual Audit in Three Years
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Bid Ohio

bid ohio investment auction websiteWhen the Ohio Treasury has funds on hand that are not immediately needed, they are available for short-term investments. Those investments are placed with State depository banks through Bid Ohio.

What is Bid Ohio?
Bid Ohio is a competitive "live" auction of interim funds from the Ohio Treasury conducted on a secure website.  "Interim funds" are state dollars (tax receipts, fee payments, etc.) which have been received by the Ohio Treasury, but are not needed to meet immediate obligations of state government. As of July 2008, a total of $450 million in interim Treasury funds has been earmarked for Bid Ohio.

How Bid Ohio works
On the first and third Tuesday of each month, the Treasury purchases $50 million worth of six-month certificates of deposit (CDs) from banks making successful bids.  "Successful bids" are those offering the greatest rate of return on six-month CDs.  Funds are awarded from the highest bid to the lowest bid until the $50 million is exhausted.  Like bids are awarded according to the time submitted (the earliest bid being first).

Goal
The Treasury promotes a truly competitive bidding process that is safe, accurate, efficient and equally available to all state depository banks.
 
How it helps
Bid Ohio reinvests in Ohio’s communities. The live online auction process has generated significantly higher interest earnings for Ohio taxpayers than previous processes—netting an additional $3 million in its first year alone.

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Office Of Debt Mgmt

The Office of Debt Management plays an important role in the operation of state government: it oversees the borrowing of funds to assure it is completed in an efficient manner.
    

SaveNOW

SaveNOW, a program offered by the State Treasurer through our linked deposit authority, offers a 3% bonus interest on savings accounts for Ohio citizens.
    

Smart Money Choices

A free personal financial-planning conference series for all Ohioans presented by State Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.
    

Top-Bottom Review 2011

Review Outlines Steps to Improve Operations, Safeguard Investments, Leverage Technology, Increase Transparency and Modernize Banking Practices
    

e-Funds Transfer

Electronic Funds Transfers makes tax payments easy. Entities that have received a notice from the Ohio Department of Taxation can register for electronic payment via the website.
    

Veteran's Preference

Veteran’s Preference provides veterans with priority to be accepted into the GrowNOW and Ag-LINK linked-deposit programs.
    

GrowNOW

A partnership between eligible banks and the Ohio Treasury, enables small business owners to receive a 3% interest rate reduction on small business loans for two years with the opportunity for renewal
    

Renew & Rebuild Ohio

Small business owners, farmers and homeowners are eligible to receive financial assistance to rebuild and recover following an emergency.
    

Ag-LINK

A program for farms to receive an interest rate reduction on new or existing loans or lines of credit up to $150,000. Applications are accepted on an annual basis from January through March.
    

CPIM

The Center for Public Investment Management (CPIM) provides continuing education to Ohio’s public funds managers and their oversight authorities.
    

CPIM Conference: Bowling

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Akron

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Dayton

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Columbus

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

ECO-Link

A partnership between the State Treasurer and participating banks that provides a 3% interest rate reduction for 5 or 7 years on bank loans when completing energy-efficient upgrades to your home.