An incumbent in this class is responsible for directing the conceptualization, implementation and overall administration of the State’s Investment, Banking, and Debt Management programs (collectively, the Programs), as guided, defined and adopted by the Cash Management Policy Board (CMPB) and the State’s issuing Officers (collectively, Governing Institutions).
Essential functions are fundamental, core functions common to all positions in the class series and are not intended to be an exhaustive list of all job duties for any one position in the class. Since class specifications are descriptive and not restrictive, incumbents can complete job duties of similar kind not specifically listed here.
· Assists the Governing Institutions and agency heads in the development of plans for achieving strategic goals and objectives of the Programs.
· Directs strategic initiatives of the Division and oversees development of multi-year projects and Programs.
· Provides recommendations, guidance and direction to agency heads for the purpose of meeting organizational and operational goals and objectives and identifying/resolving problems/needs; recommends new and revised policies and procedures.
· Oversees the preparation of complex studies, projects, reports and dashboards pertaining to the Programs at the request of the Governing Institutions and/or agency heads.
· Supervises, reviews, evaluates, coordinates, and prioritizes the work of staff and makes recommendations on hiring and performance-related action.
· Develops and coordinates budget proposals for the Division’s operating budget. Maintains/negotiates contractual agreements, develops request for proposals to implement provisions of state and federal regulations and/or to provide program services.
· Interprets, explains, applies and may suggest changes to applicable state and federal laws, rules, regulations, policies and procedures to the administration of the Programs.
· Develops and implements methods of evaluating the Programs to ensure the delivery of quality services.
· Promotes market awareness by identifying and procuring key technologies, reports, periodicals, training, memberships and symposia invitations.
· Provides representation of OST at meetings, hearings, contract negotiations, presentations and committees.
1/15/2018 11:59:00 PM
Now, Therefore, The National Association of State Treasurers officially endorses the 2018 National Personal Finance Challenge competition and encourages high school students from throughout the nation to prepare for and enter the competition.
WASHINGTON, D.C.— Vermont State Treasurer Beth Pearce, incoming President of the National Association of State Treasurers (NAST), announced today the association’s 2018 leadership roster, which includes the appointment of nine state treasurers to NAST Committee Chair positions and six state treasurers to NAST Committee Vice Chair positions. The state treasurers will serve a one-year term beginning on January 1, 2018.
“The state treasurers appointed to NAST’s 2018 leadership positions have demonstrated a deep understanding of the financial issues impacting state and local governments across the country,” said Treasurer Pearce. “I would like to thank Oklahoma State Treasurer Ken Miller for his outstanding leadership as NAST’s 2017 president, and I look forward to working with him and NAST’s new Committee Chairs and Vice Chairs to advance our policy priorities on Capitol Hill during the year ahead.”
The following state treasurers will serve as NAST’s 2018 Committee Chairs and Vice Chairs:
Co-Chair, Michael Frerichs, Illinois Treasurer
Co-Chair, Eric Schmitt, Missouri Treasurer
Banking and Cash
Chair, Steve McCoy, Georgia Treasurer
Vice Chair, Joe Torsella, Pennsylvania Treasurer
Financial Education & Empowerment Committee
Chair, Tobias Read, Oregon Treasurer
Vice Chair, Kelly Mitchell, Indiana Treasurer
Chair, Manju Ganeriwala, Virginia Treasurer
Vice Chair, Don Stenberg, Nebraska Treasurer
Chair, Ken Miller, Oklahoma Treasurer
Vice Chair, Deb Goldberg, Massachusetts Treasurer
Pensions & Trust
Chair, Michael Fitzgerald, Iowa Treasurer
Vice Chair, Pamela Leary, Alaska Treasurer
Chair, David Damschen, Utah Treasurer
Chair, Myron Frans, Minnesota Commissioner
Vice Chair, Glenn Hegar, Texas Comptroller
State treasurers are appointed to Committee Chair and Vice Chair positions based on their policy background and expertise. In their role, the incoming group of Committee Chairs and Vice Chairs will help shape NAST’s 2018 legislative priorities and platforms and will work closely with NAST’s new Executive Committee.
NAST elected its Executive Committee Members during the association’s annual conference in Boston in September. The 2018 Executive Committee Members include:
|President||Beth Pearce, Vermont Treasurer|
|Senior Vice President||David Damschen, Utah Treasurer|
|Secretary-Treasurer||Deb Goldberg, Massachusetts Treasurer|
|Immediate Past President||Ken Miller, Oklahoma Treasurer|
|Eastern Vice President||Seth Magaziner, Rhode Island Treasurer|
|Midwestern Vice President||Don Stenberg, Nebraska Treasurer|
|Southern Vice President||Curtis Loftis, South Carolina Treasurer|
|Western Vice President||Duane Davidson, Washington Treasurer|
To learn more about NAST’s committees and federal policy positions, click here
The Illinois Revised Uniform Unclaimed Property Act (765 ILCS 1026; the “Act”) requires the remittance of presumptively abandoned securities to the Illinois State Treasurer’s Office (the “Treasurer”). In order to process and maintain accounts for this type of property, the Treasurer issues this Request for Proposal (the “RFP”) for a custodial and brokerage firm (the “Contractor”) to assist in this task. The responsibilities of the Contractor shall include, but are not limited to, safekeeping, receipt, research, delivery, liquidation, tracking all payments of income and corporate actions, and selling presumptively abandoned securities remitted to the Treasurer. Proceeds from securities liquidated by the Contractor will be held for the reported owner of the security by the Treasurer.
The Contractor shall enter into a contract with the Treasurer (the “Agreement”) for an initial term of four (4) years, with an estimated start date of no later than April 1, 2018. Upon expiration of this term, the Treasurer may elect to extend the Agreement for a period of time agreed upon by the parties, not to exceed a total of ten (10) years, including the initial four (4) years.
RESPONSES DUE 01/24/2018
Treasury, in its continued efforts to improve the effectiveness of services provided, is pursuing improved technology to support it in carrying out its activities. The intent of this Request for Proposals (“RFP”) is to obtain proposals from qualified firms interested in providing an automated reconciliation software solution.
Treasury performs reconciliation of 58 bank accounts from 7 different banks. Once the bank reconciliations are completed, Treasury staff develop journal entries as needed for entry to the State’s financial system, “RIFANS” (Oracle Financials version 12) for all open items that require adjustments and returned items. The approximate annual item count is 2,000 journals.
Preference will be given to a company that
• Facilitates the automation of these entries, and has the capability of performing the appropriate matching
of bank and corresponding accounting entries within the system. The description of this capability should
be detailed in the RFP response, confirmed by onsite demos, and verified by vendor-provided references,
• Has the capability of handling multiple users working simultaneously on different tasks and accounts.
• Provides a robust reporting package without the need to utilize external software.
• Provides a great customer service experience, including during interactions in the RFP process.
Illinois State Treasurer Mike Frerichs, Co-Chair of NAST’s ABLE Committee, unveils proposal during Congressional briefing to improve and expand ABLE programs nationwide
WASHINGTON, D.C. – The National Association of State Treasurers (NAST) released the following statement today in response to the third anniversary of Congress passing the Achieving a Better Life Experience (ABLE) Act—landmark legislation that allows Americans to establish tax-free savings accounts for individuals with disabilities.
Over the past three years, state treasurers have worked diligently to implement, administer, and expand ABLE programs across the country to help individuals with disabilities and their families save for costly medical expenses,” said NAST’s ABLE Committee Co-Chair and Illinois State Treasurer Mike Frerichs. “Since Congress passed the legislation in 2014, 30 states have successfully launched ABLE Programs, which have changed the lives of thousands of families across the country. NAST looks forward to working with Congress to help increase access to these important investment accounts so more Americans can benefit from ABLE programs and begin saving for their future.”
Treasurer Frerichs participated in a Congressional briefing on Capitol Hill today to unveil the NAST ABLE Committee’s federal policy proposal, which outlines how Congress can increase the breadth and reach of ABLE accounts across the country. The briefing, hosted by the ABLE National Resource Center, featured a series of presentations and panel discussions from Members of Congress, ABLE administrators and a number of NAST corporate affiliate members.
The NAST ABLE Committee’s federal policy priorities are listed below and a fact sheet on ABLE program implementation can be found here. To learn more about NAST’s federal policy proposals, click here.
WASHINGTON, D.C. (TK) –The College Savings Plans Network (CSPN) announced its support of H.R. 4508, the Promoting Real Opportunity, Success and Prosperity through Education Reform (PROSPER) Act. The bill, recently introduced by Rep. Virginia Foxx (R-NC) and Rep. Brett Guthrie (R-KY), aims to make post-secondary education more affordable for families across America.
The Act will exclude 529 college savings plans from counting as assets when calculating student need in order to encourage families to save for higher education.
Treasurer Young Boozer, Chair of the College Savings Plans Network—the nation’s leading objective source of information on Section 529 College Savings Plans and Prepaid Tuition Plans—issued the following statement on the introduction of this critical piece of legislation:
As a result of rising costs of college tuition, Americans have accumulated an excess of over $1.3 trillion in student debt over the past 40 years. The way to offset or avoid student debt is by saving early and often in a 529 plan. We must encourage savings for college expenses. We should not discourage savings by penalizing those who do save when it comes to determining other support available. For this reason, we are proud to support the PROSPER Act, legislation that will enhance the treatment of 529 plans in the determination of federal financial aid. We thank Rep. Virginia Foxx (R-NC) and Rep. Brett Guthrie (R-KY), in moving it forward and for continuing Congress’ tradition of improving savings opportunities for post-secondary education through 529 college savings plans.”
Young Boozer, Alabama State Treasurer and Chair of the College Savings Plans Network has this to say.
“CSPN has been following the conversation in the Senate about the tax bill passed Saturday morning. We are interested in the expansion of eligible education expenses in 529 plans to include up to $10,000 in annual K-12 expenses and look forward to working with Congress on implementing these changes with respect to 529 plans. This will provide added flexibility to families looking to save money to pay for the education needs of their loved ones and we appreciate Congress’ interest in enhancing 529 plans. Additionally, on Friday December 1, the House introduced the PROSPER ACT, which would exclude 529 plans from the calculation of federal financial aid. We believe this is a critical step in making 529 plans the best way to save for post-secondary education and appreciate Congress beginning the process of removing this hurdle to families saving for their children’s future.”
OKLAHOMA CITY – State Treasurer Ken Miller, board chairman of the Oklahoma 529 College Savings Plan (OCSP), is encouraging gift-giving Oklahomans with young children or grandchildren to consider the gift of education this year by opening an OCSP account for their loved ones, a news release states.
To make such a gift even more attractive, OCSP is offering a special bonus promotion this year in conjunction with Cyber Monday. New accounts opened from Nov. 25-29 at the special promotional page www.ok4saving.org/give will be eligible for a bonus contribution of $25 from the OCSP. In addition, those who open a new account and also opt to begin an automatic contribution plan will be eligible for another $25 bonus contribution from OCSP, for a total of $50.
Miller noted that only 24.6 percent of Oklahomans had a four-year degree in 2015, compared to the national average of 30.6 percent, according to statistics from the nonprofit Prosperity Now.
College graduates have greater job opportunities and earn substantially more over their lifetimes,” Miller said. “Yet many consistently underestimate how much they’ll need to save to pay for college. Making a plan and committing to even small contributions over time can save college graduates from piles of student loan debt. This is a great chance to get a head-start on saving.”
Parents, grandparents, relatives or friends who are U.S. citizens or permanent residents and at least 18 years old may open an OCSP account on behalf of a beneficiary, and the minimum initial contribution is $100. Once an account is open, anyone can contribute, making the OCSP a great gift idea for all family and friends.
At the OCSP website, www.ok4saving.org, the state’s 529 college savings plan provides gift-givers with an e-gifting option where contributions can be made to an OCSP account online, and “Gift of Education” certificates can be created to show the contribution to a loved one’s account.
Vermont Businesses for Social Responsibility (VBSR) will recognize Vermont State Treasurer Beth Pearce at a legislative breakfast next week for her work to establish a public retirement system, clean up Vermont’s waterways, and to address the impacts of climate change through state investments.
Pearce will receive the ‘Public Servant of the Year’ award at VBSR’s Legislative Breakfast on the morning of Wednesday, December 6 at Main Street Landing in Burlington. VBSR will also announce its 2018 legislative agenda at the event. Tickets are free for organization members and legislators, and nonmembers and the general public is welcome to attend as well.
“Treasurer Pearce sets a high standard for public service in Vermont,” said Jane Campbell, VBSR’s executive director. “She approaches her work thoughtfully and collaboratively, and honoring the Treasurer for her work on issues such as creating a clean water economy and helping Vermonters save for retirement made this an easy decision for VBSR.”
Pearce, a Democrat, is now serving her fourth term as Treasurer after being appointed to the position in 2011. She has more than 40 years of experience in government finance at both the state and local levels.
“The successes of the Treasurer’s Office are due to the collaborative partnerships we’ve forged by bringing stakeholders to the table,” said Treasurer Pearce. “Whether on issues concerning the environment and the health of our waterways, investing dollars and buying locally, or expanding retirement security, Vermont succeeds when we work together to achieve common goals.”
A Barre resident, Treasurer Pearce is the incoming President of the National Association of State Treasurers (NAST). She serves as the Secretary of the National Association of State Auditors, Comptrollers and Treasurers (NASACT). She is the Past President of the National Association of Unclaimed Property Administrators (NAUPA)….
PHOENIX (AP) — Arizona State Treasurer Jeff DeWit has been nominated by President Donald Trump to be the chief financial officer at NASA.
If confirmed by the Senate, DeWit said he would resign his statewide elected office, although that could be months from now.
“By the time I get through the Senate confirmation it could be near the very end of my term anyway,’ he said Thursday. “So it’s really good timing.
“I’ve been offered many positions before this but I wanted to wait until at least I’m in the last year of my term, which this basically is now,” DeWit said.
DeWit served as chief operating officer and chief financial officer for Trump’s presidential campaign last year and has a close relationship with the president.
DeWit is a first-term Republican and state law requires that the replacement appointed by Republican Gov. Doug Ducey be of the same party. Ducey said he hasn’t yet given much thought to whom he might pick to succeed DeWit.
DeWit previously said he would not run for a second term as treasurer. Announced candidates for the Republican nomination include state Sen. Kimberly Yee and Tom Forese, an Arizona Corporation Commission member who won the seat in 2014 after serving in the Legislature. DeWit has endorsed Yee but has a fractious relationship with Ducey.
DeWit said he would prefer that a career treasurer employee be named to head the department that oversees state finances until after next year’s election.
“We have some people running for that office right now, and I don’t think it would be fair to appoint somebody that’s running for the office,” he said. “I think that’s kind of putting a thumb on a scale.”
DeWit had been considering running for the U.S. Senate seat being vacated by Republican Jeff Flake, who decided last month not to seek re-election after polling showed his criticism of Trump and a changing Republican Party base made his race unwinnable.
As NASA CFO, DeWit would oversee the space agency’s nearly $20 billion budget. Before running for state treasurer as a political newcomer in 2014, he was CEO of an investment company he founded and worked in financial futures trading. He is married and has three school-age daughters.
He said it is likely the family would need to relocate to Washington, where NASA headquarters is located.
“There’s a lot of exciting things coming for NASA and for our country through that agency,” he said, “and if I can be a part of helping that process I think that’s a good way to serve the country.”