Departments in the State Treasurer's Office
The Treasurer of State is the state’s cash manager and chief investment officer with the duty of managing and collecting public funds. A brief description of the departments within the Treasurer of State’s office is listed below.
The Accounting department consists of two sections: General Ledger & Reconciliation and Warrant Processing. Clients include numerous state agencies, boards and commissions, including the Bureau of Workers’ Compensation, the Public Employees Retirement System and the State Teachers Retirement System. Personnel reconcile all accounts, research exceptions and ensure that corrections are completed on the General Ledger. The Warrant Processing Division processes state warrants and warrants for several custodial entities such as the Bureau of Workers’ Compensation, the state retirement systems and unemployment compensation.
Administration manages the Treasurer’s office operations and directs office-wide policies as they relate to Treasurer’s office staff. The department also provides administrative support for the Treasurer and works with department directors to implement programs and policies as directed by the Treasurer.
Center for Public Investment Management and Treasury Services
The Center for Public Investment Management (CPIM) provides continuing education to Ohio’s public funds managers and their oversight authorities. It is CPIM’s mission to offer the highest standard of comprehensive education and instruction in the areas of cash management, investments, public finance, compliance and reporting.
The Treasury Services Department works with state agencies, boards and commissions to help achieve efficient cash management processes and serves as a resource for financial and banking information, services and products. The Department provides customer service to state agencies, boards and commissions on all banking related matters while acting as a liaison between its customers and state depository banks. It is responsible for maintaining relations with state depository banks in order to ensure the delivery of quality services and to identify cost effective products and services alternatives for its state partners.
The Communications Department is responsible for coordinating internal and external communications involving Treasurer’s office goals, services, initiatives, and accomplishments. The dissemination of this information is accomplished through the news media, the OhioTreasurer.gov website, Treasury publications and other communication.
The Office of Debt Management provides debt management services over two primary functional disciplines: debt issuance and debt administration. Debt Management oversees the issuance of debt for which the Treasurer’s office serves as the issuing authority. Primary debt issuance responsibilities include structuring, document review, pricing and closing. Debt Management is responsible for providing debt administration services for both Ohio’s general obligation debt and other state debt that the Treasurer is responsible for issuing. Debt administration duties include: reporting, paying agent functions, bond registrar services, debt certification, debt repayment, and revenue/disbursement processing.
Economic Development and Financial Literacy
Through linked deposit programs, the Treasury makes strategic investments to assist in economic development across Ohio. The office administers the following economic development programs: Ag-LINK, Bid Ohio, ECO-Link, GrowNOW, Re-Engergize Ohio and SaveNOW.
Additionally, the Treasurer’s office provides Ohioans with helpful tools to make informed decisions in personal finance by encouraging public-private partnerships and leveraging technology. The office engages non-profit organizations and cultivates public-private partnerships to connect educators with helpful and innovative financial education resources at no cost to schools.
Human Resources and Fiscal Services
The Department of Human Resources and Fiscal Services is responsible for developing and monitoring the budget for the Treasurer’s office and managing day-to-day operating expenses. It is also responsible for the purchase of goods and services for the office. In addition, the department administers all human resource activities including recruitment and selection, labor and employee relations, employee training and development, and payroll and benefits.
Information Technology Services
The Information Technology Services Department is responsible for supporting, developing and implementing technical solutions that promote efficiencies, align with business processes, keep pace with emerging technologies and ensure the safety and security of all digital assets.
The Internal Audit Department helps the Treasury accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control and governance processes.
The primary responsibility of the Investments Department is to actively manage the state’s multi-billion dollar investment portfolios. These portfolios include the State of Ohio Regular Account (including the General Revenue Fund), the Ohio Lottery Deferred Prizes Trust Fund and STAR Ohio. The department also oversees administration of the STAR Plus local government investment program. The Investments Department is responsible for developing strategies designed to maintain target levels of safety, liquidity and yield as directed by the Treasurer’s Investment Policy.
Legislative and Policy
The Legislative and Policy Department serves as the liaison between the Treasurer’s office and General Assembly. The department also identifies, researches and develops policy positions and initiatives affecting the Treasurer’s office.
The Public Affairs Department serves as the liaison between the Treasurer’s office and the citizens of Ohio. The department responds to inquiries from the public on any topic and provides assistance in navigating state government. Additionally, the department leads outreach initiatives to service veterans and other targeted constituencies.
Regional Representatives work as a direct extension of the central Columbus office of the Treasurer’s office and serve as the Treasurer’s first line of contact for local entities in a specific geographic region. Regional representatives’ responsibilities include partnering with departments in the Treasurer’s office to provide resources to Ohio’s citizens. This is done by building relationships with local officeholders, small business owners, community leaders and constituents.
The Revenue Management Department is responsible for the collecting, processing and payment of state revenue, expanding the state’s use of electronic payments and providing cash management services to state agencies. This department includes the Cashiers Division, E-Payments Division and Lockbox Revenue Division.
The Trust Department is comprised of the Compliance Division and the Trust Operations Division and oversees the safekeeping of investments for the Bureau of Workers’ Compensation; Ohio Tuition Trust Authority; State Teachers Retirement System; Public Employees Retirement System; Police and Fire Pension Fund; State Highway Patrol Retirement Fund; School Employees Retirement System; and the Southern Ohio Agricultural and Community Development Fund. In addition, the department monitors whether custodial banks are in compliance with state depository agreements as they relate to custody services and whether securities-lending agents appointed by the Treasurer are in compliance with the Treasurer’s policies. This division is also responsible for ensuring that sufficient and eligible collateral is pledged by all state depositories, and manages the safekeeping of securities for various state agencies.