Ohio law mandates that the Ohio Treasurer oversee the custodial services that depository banks provide for public funds in the Treasurer’s custody. The Treasurer is responsible for safekeeping the cash and investments, collecting all income, releasing cash for investments upon receipt of evidence of title and the signature of an authorized person, releasing sold investments upon receipt of cash and the signature of an authorized person. The Treasurer appoints financial institutions to serve as agents or subagents. Agents are monitored for compliance with agreements and industry standards and best practices.
The State Treasurer currently oversees approximately $232 billion in assets. The current custody period runs from July 1, 2020 to June 30, 2024.