OFFICE INFORMATION

• About Us
• News
• Unclaimed Property
• Cash Management
  • Banking Information
  • Trust Fund Management
  • State-Issued Checks
  • Cash Management Improvement Act
  • Investments
• Revenue Sharing
• Debts & Bonds
• Requests for Proposals
• Education Savings
• Agricultural & Commercial Loan Programs
• TeachME Financial Literacy

Cash Management

The Office of the Treasurer processes all state agencies' Cash Receipt Statements--nearly 99,000 during FY 2006. More than 1.8 million checks were distributed, as well as 652,057 electronic funds transfer payments. Banking services provided to State agencies are coordinated by the Treasurer's Office--including deposit access to 34 Maine bank accounts, check stop payments and/or reissues, wire transfer services, and more. Cash flow is monitored. Funds not needed to pay state expenses or to compensate the banks for services are invested through the Treasurer's Cash Pool in commercial paper, obligations of the U.S. Government, CDs in Maine banks, money market mutual funds, corporate bonds, and repurchase agreements. The Cash Pool includes 111 funds, averaged more than $634 million in FY 2006, and was managed with safety, liquidity and yield in mind. More than $29 million in earnings from investments, including $8.3 million to the General Fund, were distributed to participants in the Pool on a prorata basis.

The goal of the Office of the State Treasurer is to ensure effective internal control of State cash transactions by providing centralized cash collection, processing, disbursement and management of state funds. From an accounting perspective, Treasury works toward internal control through proper segregation of duties-the Treasurer is appointed by the Legislature, while the Department of Administrative and Financial Services is part of the Executive Branch of State government.

View Treasurer's Annual Report.