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Services
Duties
The State Treasurer is Arizona state government’s chief financial officer. The Treasurer’s Office manages Arizona’s annual state revenues; directs the state’s banking services; and manages Arizona’s nearly $9.7 billion investment portfolio. The State Treasurer also serves on the management boards of a number of public entities. The State Treasurer is one of six statewide elected officials, and serves a term of four years. A person may only serve as State Treasurer for two terms.
Banking Services
The State Treasurer serves as Arizona state government’s banker. While not a bank itself, the Treasurer’s Office must authorize payments and balance accounts. To protect taxpayers’ money, the State Treasurer maintains a separate accounting system to provide a check and balance on the state accounting system, and distributes investment earnings to the proper funds. The office contracts with Arizona banks to process the state’s receipts and disbursements; handle money and security transfers; report on the state’s accounts, balances and payment activities; and provide related banking services such as data processing. Bidding for state banking services contracts is open to all qualified Arizona banks.
Investments
The State Treasurer determines the amount of state funds not needed for current operating expenses and invests those funds in interest-bearing time deposits in Arizona banks, U.S. Treasury and federal agency securities, repurchase agreements, banker’s acceptances, top-rated commercial paper, corporate notes, asset-backed securities, mortgage-backed pass-through securities, collateralized mortgage obligations, and equities (stocks). Local Governments may deposit money with the Treasurer for investment. These funds are invested and pooled in the Local Government Investment Pools (LGIP). These deposits are voluntary, but provide many benefits to the local governments. The Treasurer’s office pools LGIP investments with other funds to provide greater liquidity and greater yield than possible on their own and the Treasurer's Office provides this service at a much lower cost than other options.
- Cost of Investment operations: less than .009% of assets under management or less than one basis point!
- Cost to Endowment for Management: ZERO – no management fees are collected from the endowments.
Safety is the Treasurer’s number one priority in the investment of the public’s funds. Staff investment specialists monitor major investment markets and work to maximize the state’s return on investments without compromising safety. The office has an average of nearly $9.7 billion invested daily, earning the state millions of dollars in interest income each year.
Upcoming Meetings
Board of Investment
Sept. 23rd 1:30 pm
Quarterly Meeting & Conference Calls
July 29th 2:30 pm
(download pdf slides)
Please note: All meetings are open to the public.
Contact:
(602) 604-7800
Toll Free:
1-877-365-8310
Fax:
(602) 542-7176
Email:
info@aztreasury.gov
