The Treasurer is a constitutional officer, independently elected by the people of Washington to manage Washington's investments, debt, and cash.
What does the State Treasurer do?
The State Treasurer is Washington’s chief financial officer, who manages the Office of the State Treasurer (OST). OST is the state agency that serves as the bank for Washington State government.
OST operates divisions which manage public investments, debt, and cash for the State of Washington and leads policy initiatives affecting the State Treasury and the state’s long-term fiscal health. Here's how we do it:
Investments
We manage about $35 billion of state government operating cash and local government surpluses (cities, school districts, counties, and other local districts) through OST’s Local Government Investment Pool.
Debt
We manage state debt from legislatively-approved bond sales that finance local infrastructure, major state capital and transportation projects, and lower costs for voter-approved bond initiatives through OST’s School Bond Guarantee Program.
Cash
We manage hundreds of billions of dollars annually in cash flow for state government, including most state deposits, withdrawals and transfers.
Policy
We lead state and national policy initiatives affecting the State Treasury and the state’s long-term fiscal health through legislation and through representation on several state boards and commissions.