State Finance Committee
The State Finance Committee (SFC) authorizes the issuance of all bonds and other state obligations, including financing leases, that finance capital projects authorized in the capital and transportation budgets. The SFC also acts to refinance state debt when appropriate to reduce interest costs. The SFC is composed of the Governor, the Lieutenant Governor and Treasurer, with the Treasurer designated as Chair.
The Legislature has authorized the SFC to delegate to the Treasurer the authority to sell and deliver bonds and other state obligations and to set the terms and conditions for each sale.
Finally, the SFC also constitutes the Public Deposit Protection Commission (PDPC) which approves financial institutions that may serve as public depositaries authorized to accept deposits of public funds. Learn more about the PDPC.