What does the State Treasurer do?
The Office of the State Treasurer (OST) is the bank for Washington state government.
It is responsible for the safety and security of the state’s money, now and into the future.
The office maintains key working relationships with other governments across Washington, and facilitates investment within the state. OST’s core functions are several.
- The office manages cash flow of all major state accounts with deposits, withdrawals and transfers – more than $350 billion in Fiscal Year 2021.
- It allocates the state’s operating cash to investments that bear interest but remain available for withdrawal, as needed; and it grows the short-term surplus operating cash of cities, school districts, counties and other taxing bodies through its Local Government Investment Pool.
- OST keeps careful accounts of all transactions, using the Agency Financial Reporting System (AFRS) and the custom-developed Treasury Management System (TM$). Technology supporting the Treasury Management System (TM$) is guided by the OST’s Information Technology Services Strategic Plan.
- The Treasurer issues and manages the state’s debt. State debt is issued via bond sales to finance some of the state’s major capital and transportation projects; and through certificates of participation to finance real estate and equipment for state agencies and local governments. The Treasurer also manages the School Bond Guarantee Program which assures voter-approved bonds issued by school districts.
- To foster transparency and comply with legislative requirements for all state agencies and offices, OST inventories its activities, provides updates on its budgeted operating expenditures, and issues summary financial reports for the current two-year state budget period.
The State Treasurer chairs the State Finance Committee and the Public Deposit Protection Commission.
The Treasurer also serves on five other state boards which manage a wide range of services and programs for state lawmakers, public employees, businesses, students and residents of Washington.
More details can be found on our Boards and Committees page.
NOTE: The Office of the State Treasurer does not manage Unclaimed Property. For information on abandoned wages, stock dividends, and deposits, please click on the preceding link.
Or, contact the Department of Revenue
Callers should use 360-534-1502.
Articles on our work and partners, and how we intersect with education, infrastructure, and finance.