Trust Fund Management

The Treasurer's Office serves as safekeeping agent for a variety of State Agency deposits and private purpose trust funds. In addition to what is presented below, the Treasurer's Office maintains records for 'non-cash' deposits on behalf of state agencies, including surety bonds and letters of credit.*

(State Held Trust Investment Policy)

Trust Description Where 6/30/14 Value
Attorney General Escrow Funds held for Consumer & Antitrust enforcement activities. Maintained in the Treasurer's Cashpool. $1,248,512.20
Baxter State Park Trust Fund Fund established by Percival Baxter for care of Baxter State Park; earnings are distributed semiannually. Principal is split between three custodial managers. $6.8 million market value
Baxter-MacWorth Trust Fund Funds used to acquire new lands for Baxter State Park. Principal and earnings held by custodial manager.

$85,091.92 market value

Bureau of Insurance 3rd Party Administrator Deposits* Performance deposits required by M.R.S.A. Title 24-A, Sections 1901 through 1912. Assorted securities and cash equivalent funds held by custodian $23.06 million par value
Bureau of Insurance Worker's Compensation Deposits* Deposits made by Worker's Compensation Benefit self-insured employers as required by M.R.S.A. Title 39-A, Section 403. Segregated funds held in bank accounts, CD's and other securities. $6.4 million
Lands Reserved Trust Funds Established to account for revenue derived from the sale of timber from public lands and from appreciation on investments. Income is to be used for school purposes by organized towns or plantations. Income is distributed annually. Principal is split between three custodial managers. $11.4 million market value
Maine Employment Security Deposits* Deposits made by self-insured Unemployment Compensation employers as required by M.R.S.A. Title 26, Chapter 13, Section 1221. Segregated funds held in passbook savings, money market accounts, CD's and other securities. $10.9 million
Permanent School Fund Established in 1828, the income is used to support schools through the Department of Education. Income is distributed semiannually. Principal is held by custodial manager $3.4 million market value
Several Trust Funds Trusts designated for specific purposes. Beneficiaries include patients of State Mental Health Facilities, inmates at Correctional Facilities, tuberculosis patients, education facilities and others. Income is distributed semi-annually or according to the specified terms of the trust. Principal is split between two custodial managers. $15.7million
Treasurer's Safekeeping Miscellaneous escrow or short term placement of Agency-held funds such as Lottery agency deposits, arbitrage funds, workers compensation deposits and others. Variety of account types including CD's, savings, cashpool, money markets, funds held by custodians, etc. $1.4 million
Unclaimed Property Fund Holders of property presumed abandoned report these properties to the Treasurer annually. The Treasurer will honor these claims in perpetuity. Maintained in the Treasurer's Cashpool. $200.6 million cash value
$3.7 million stock value