Treasury Responsibilities

The Treasurer's Office Has 10 Major Duties

  1. Bonds
    $370 million issued and under management as of 6/30/2013
  2. Cash Management
    36 bank accounts, Collect all State revenues, and Distribute over 1 million vendor and payroll checks per year as well as 577,000 electronic payments
  3. Investments
    $509 million invested (FY 2013 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
    $31 million in Trust Funds managed as of 6/30/2013
  6. Unclaimed Property
    $21 million returned to rightful owners and nearly $11 million recycled to the General Fund in FY 2013
  7. Cash Management Improvement Act (CMIA)
    Assist State Agencies with CMIA compliance in the receipt of $3.3 billion in Federal Funds
  8. Revenue Sharing
    $96 million distributed to 493 municipalities in FY 2013
  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