Treasury Responsibilities

The Treasurer's Office Has 10 Major Duties

  1. Bonds
    $399 million issued and under management as of 6/30/2014
  2. Cash Management
    37 bank accounts, Collect all State revenues, and Distribute over 960,000 vendor and payroll checks per year as well as over 597,000 electronic payments
  3. Investments
    $558 million invested (FY 2014 average balance) in the Treasurer's Cash Pool Portfolio
  4. Board Membership
    The State Treasurer serves as a director or ex officio member on numerous boards.
  5. Trusts & Custodial Services
    $37 million in Trust Funds managed as of 6/30/2014
  6. Unclaimed Property
    $11.4 million returned to rightful owners and $10.5 million recycled to the General Fund in FY 2014
  7. Cash Management Improvement Act (CMIA)
    Assist State Agencies with CMIA compliance in the receipt of $3.2 billion in Federal Funds
  8. Revenue Sharing
    $66 million distributed to 492 municipalities in FY 2014
  9. Revenue Forecasting
    5 revenue lines are projected by the Treasurer for the Revenue Forecasting Committee
  10. NextGen College Investing Program
    $7.6 billion in investments as of 2/19/2014

Related Links

Maine Constitution Article V, Part Third