Financial Operations Division

One of the roles of the State Treasurer is to serve as the State's Banker for various State departments, universities, community colleges, local school systems, boards, and commissions. This involves managing funds belonging to the General Fund, the Highway Fund, and various pension and trust funds. This banker role includes performing cash management functions relating to the receipt of funds deposited through official depository financial institutions, and the disbursement of funds either electronically or by the processing of State checks presented through the Federal Reserve System.

Other functions associated with the banker role include accounting, support related, and reconciliation functions. The accounting functions include accounting for investments, pension funds, trust funds, and State debt. Departmental support functions include budget administration, cash management, payroll, and purchasing for the various divisions. Reconciliation functions include reconciling depository bank account statements and reconciling budgetary accounts with the Office of State Controller.

The above functions are performed by four sections within the Financial Operations Division:

• Banking Operations Section
• Statewide Operations Section
• Departmental Operations Section
• Bank Account Recon Unit

Refer to the Financial Operations Functional Directory regarding each section's responsibilities and contact information.