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Home » Budget » Agency activities and performance » Agency Activities » Efficient, Effective and Accountable Government

Efficient, Effective and Accountable Government

Last Updated: 07/14/2021

Safeguard and manage public funds

Strategy: Safeguard and manage public funds

Agency: 090 - Office of State Treasurer

A001 - Accounting and Fiscal Services for Treasury and Trust Funds

The State Treasurer maintains a correct and current account of all monies received and disbursed, classified by fund or account, as well as agency level accounting for investments, distributions, and debt management activity. All cash activity is accounted for and electronically interfaced to the statewide Agency Financial Reporting System (AFRS). (State Treasurer's Service Account)

Account FY 2020 FY 2021 Biennium Total
FTE 15.6 15.6 15.6
404 - State Treasurer's Service Account
State 2,149,000 2,220,000 4,369,000
FY 2020 FY 2021 Biennium Total
FTES 15.6 15.6 15.6
GFS
Other 2,149,000.0 2,220,000.0 4,369,000.0
Totals 2,149,000.0 2,220,000.0 4,369,000.0

000277 - Cash in Balance

Cash in-balance between the state accounting document records and treasury bank transactions.
Biennium Period Actual Target
2015-17 Q1 0% 0%
2015-17 Q2 0% 0%
2015-17 Q3 0% 0%
2015-17 Q4 100% 95%
2015-17 Q5 0% 0%
2015-17 Q6 0% 0%
2015-17 Q7 0% 0%
2015-17 Q8 100% 95%
2017-19 Q1 0% 0%
2017-19 Q2 0% 0%
2017-19 Q3 0% 0%
2017-19 Q4 100% 1%
2017-19 Q5 0% 0%
2017-19 Q6 0% 0%
2017-19 Q7 0% 0%
2017-19 Q8 0% 0%
2019-21 Q1 0% 0%
2019-21 Q2 0% 0%
2019-21 Q3 0% 0%
2019-21 Q4 1% 1%
2019-21 Q5 0% 0%
2019-21 Q6 0% 0%
2019-21 Q7 0% 0%
2019-21 Q8 0% 0%

A002 - Administration

The State Treasurer, a constitutional officer elected to serve a four-year term, is the state’s chief fiscal officer. The Treasurer’s Office provides banking, investment, debt management, and accounting services for state government, keeping the books and managing taxpayers’ money from the time it is collected in taxes until it is spent on programs by the Legislature. The office receives the state’s cash resources, invests the money each business day to earn interest, and disburses funds to numerous entities, including agencies, local governments, and active and retired state employees. Office business functions are supported by a fully functional information processing environment. (State Treasurer's Service Account)

Account FY 2020 FY 2021 Biennium Total
FTE 14.0 14.0 14.0
404 - State Treasurer's Service Account
State 1,716,000 1,771,000 3,487,000
FY 2020 FY 2021 Biennium Total
FTES 14.0 14.0 14.0
GFS
Other 1,716,000.0 1,771,000.0 3,487,000.0
Totals 1,716,000.0 1,771,000.0 3,487,000.0
Expected Results

Promote and maintain public trust and confidence.

A003 - Banking Services

The State Treasurer receives and deposits monies remitted to the state, and manages the disbursement of funds to state and local governments, vendors, beneficiaries, claimants, and employees. These banking services are provided to state agencies through the Cash and Warrant Management Division. The division promotes responsible financial practices to ensure the unimpeded inflow of monies to the state’s bank accounts and the timely outflow of monies to payees. The warrant management section releases, redeems, and maintains the records of warrants that bear the signature of the State Treasurer. The division also is responsible for the negotiation and management of numerous financial contracts and agreements, and works in cooperation with other state agencies in support of Digital Government initiatives. (State Treasurer's Service Account)

Account FY 2020 FY 2021 Biennium Total
FTE 17.3 17.0 17.2
404 - State Treasurer's Service Account
State 2,467,000 2,546,000 5,013,000
FY 2020 FY 2021 Biennium Total
FTES 17.3 17.0 17.2
GFS
Other 2,467,000.0 2,546,000.0 5,013,000.0
Totals 2,467,000.0 2,546,000.0 5,013,000.0

000701 - Banking Services

Washington State vs. National Bank Average for Banking Services - Average Cost Per Transaction
Biennium Period Actual Target
2015-17 Q1 $0.00 $0.00
2015-17 Q2 $0.00 $0.00
2015-17 Q3 $0.00 $0.00
2015-17 Q4 $0.01 $0.16
2015-17 Q5 $0.00 $0.00
2015-17 Q6 $0.00 $0.00
2015-17 Q7 $0.00 $0.00
2015-17 Q8 $0.01 $0.16
2017-19 Q1 $0.00 $0.00
2017-19 Q2 $0.00 $0.00
2017-19 Q3 $0.00 $0.00
2017-19 Q4 $0.01 $0.13
2017-19 Q5 $0.00 $0.00
2017-19 Q6 $0.00 $0.00
2017-19 Q7 $0.00 $0.00
2017-19 Q8 $0.00 $0.00
2019-21 Q1 $0.00 $0.00
2019-21 Q2 $0.00 $0.00
2019-21 Q3 $0.00 $0.00
2019-21 Q4 $0.01 $0.13
2019-21 Q5 $0.00 $0.00
2019-21 Q6 $0.00 $0.00
2019-21 Q7 $0.00 $0.00
2019-21 Q8 $0.00 $0.00

A004 - Debt Management Services

Bond Retirement and Interest, Agency 010, is part of the Office of the State Treasurer, and is commonly referred to as Debt Management. The major functions of this activity include support to the State Finance Committee, debt issuance, the State/Local Lease Purchase Program, the School Bond Guarantee program, and payments to bondholders. (State Treasurer's Service Account)

Account FY 2020 FY 2021 Biennium Total
FTE 12.1 12.1 12.1
404 - State Treasurer's Service Account
State 1,921,000 1,978,000 3,899,000
FY 2020 FY 2021 Biennium Total
FTES 12.1 12.1 12.1
GFS
Other 1,921,000.0 1,978,000.0 3,899,000.0
Totals 1,921,000.0 1,978,000.0 3,899,000.0

002670 - General Obligation Bonds Interest Rates

Washington State vs. Twenty Year Bond Buyer Index - Interest Rates on Borrowing Money
Biennium Period Actual Target
2015-17 M1 0% 0%
2015-17 M10 0% 0%
2015-17 M11 0% 0%
2015-17 M12 3% 3%
2015-17 M13 0% 0%
2015-17 M14 0% 0%
2015-17 M15 3% 3%
2015-17 M16 0% 0%
2015-17 M17 0% 0%
2015-17 M18 0% 0%
2015-17 M19 4% 4%
2015-17 M2 0% 0%
2015-17 M20 0% 0%
2015-17 M21 0% 0%
2015-17 M22 0% 0%
2015-17 M23 0% 0%
2015-17 M24 0% 0%
2015-17 M3 0% 0%
2015-17 M4 3% 4%
2015-17 M5 0% 0%
2015-17 M6 0% 0%
2015-17 M7 0% 0%
2015-17 M8 3% 3%
2015-17 M9 0% 0%
2017-19 M1 0% 0%
2017-19 M10 0% 0%
2017-19 M11 0% 0%
2017-19 M12 0% 0%
2017-19 M13 0% 0%
2017-19 M14 0% 0%
2017-19 M15 0% 0%
2017-19 M16 0% 0%
2017-19 M17 0% 0%
2017-19 M18 0% 0%
2017-19 M19 0% 0%
2017-19 M2 0% 0%
2017-19 M20 0% 0%
2017-19 M21 0% 0%
2017-19 M22 0% 0%
2017-19 M23 0% 0%
2017-19 M24 0% 0%
2017-19 M3 3% 4%
2017-19 M4 0% 0%
2017-19 M5 0% 0%
2017-19 M6 0% 0%
2017-19 M7 0% 0%
2017-19 M8 0% 0%
2017-19 M9 4% 4%
2019-21 M1 0% 0%
2019-21 M10 0% 0%
2019-21 M11 0% 0%
2019-21 M12 0% 0%
2019-21 M13 3% 2%
2019-21 M14 0% 0%
2019-21 M15 0% 0%
2019-21 M16 0% 0%
2019-21 M17 0% 0%
2019-21 M18 0% 0%
2019-21 M19 0% 0%
2019-21 M2 0% 0%
2019-21 M20 0% 0%
2019-21 M21 0% 0%
2019-21 M22 0% 0%
2019-21 M23 0% 0%
2019-21 M24 0% 0%
2019-21 M3 3% 3%
2019-21 M4 0% 0%
2019-21 M5 0% 0%
2019-21 M6 0% 0%
2019-21 M7 0% 0%
2019-21 M8 3% 3%
2019-21 M9 0% 0%

A005 - Investment Services

The Investment Division invests a pool of the state’s operating and capital cash reserves for maximum return under defined risk parameters, while still providing sufficient liquidity to meet agency cash requirements. The Investment Division also separately invests and administers the Local Government Investment Pool (LGIP), a pooled investment program which serves more than 400 local government cash managers. Pooled investments and other services allow state and local governments to share in the expertise of the State Treasurer and its investment staff, and reap the benefits of the economies of scale. (State Treasurer's Service Account)

Account FY 2020 FY 2021 Biennium Total
FTE 9.1 9.1 9.1
404 - State Treasurer's Service Account
State 1,581,000 1,633,000 3,214,000
FY 2020 FY 2021 Biennium Total
FTES 9.1 9.1 9.1
GFS
Other 1,581,000.0 1,633,000.0 3,214,000.0
Totals 1,581,000.0 1,633,000.0 3,214,000.0

002664 - State Treasury / Trust Short-Term Investments

Washington State vs. Blended Rate of Return for Short-Term Investments - Rate of Return
Biennium Period Actual Target
2015-17 M1 1% 0%
2015-17 M10 1% 1%
2015-17 M11 2% 1%
2015-17 M12 1% 0%
2015-17 M13 1% 0%
2015-17 M14 1% 0%
2015-17 M15 1% 0%
2015-17 M16 1% 0%
2015-17 M17 1% 0%
2015-17 M18 1% 1%
2015-17 M19 1% 1%
2015-17 M2 1% 0%
2015-17 M20 1% 1%
2015-17 M21 1% 1%
2015-17 M22 1% 1%
2015-17 M23 1% 1%
2015-17 M24 1% 1%
2015-17 M3 1% 1%
2015-17 M4 1% 0%
2015-17 M5 1% 0%
2015-17 M6 1% 0%
2015-17 M7 1% 0%
2015-17 M8 1% 0%
2015-17 M9 1% 0%
2017-19 M1 1% 1%
2017-19 M10 2% 1%
2017-19 M11 2% 1%
2017-19 M12 2% 2%
2017-19 M13 0% 0%
2017-19 M14 0% 0%
2017-19 M15 0% 0%
2017-19 M16 0% 0%
2017-19 M17 0% 0%
2017-19 M18 0% 0%
2017-19 M19 0% 0%
2017-19 M2 1% 1%
2017-19 M20 0% 0%
2017-19 M21 0% 0%
2017-19 M22 0% 0%
2017-19 M23 0% 0%
2017-19 M24 0% 0%
2017-19 M3 1% 1%
2017-19 M4 1% 1%
2017-19 M5 1% 1%
2017-19 M6 1% 1%
2017-19 M7 1% 1%
2017-19 M8 2% 1%
2017-19 M9 2% 1%
2019-21 M1 2% 2%
2019-21 M10 2% 1%
2019-21 M11 1% 1%
2019-21 M12 1% 1%
2019-21 M13 0% 0%
2019-21 M14 0% 0%
2019-21 M15 0% 0%
2019-21 M16 0% 0%
2019-21 M17 0% 0%
2019-21 M18 0% 0%
2019-21 M19 0% 0%
2019-21 M2 2% 2%
2019-21 M20 0% 0%
2019-21 M21 0% 0%
2019-21 M22 0% 0%
2019-21 M23 0% 0%
2019-21 M24 0% 0%
2019-21 M3 2% 2%
2019-21 M4 2% 2%
2019-21 M5 2% 2%
2019-21 M6 2% 2%
2019-21 M7 2% 2%
2019-21 M8 2% 2%
2019-21 M9 2% 2%

002669 - Local Government Investment Pool (LGIP) Investments

LGIP vs. iMoneyNet Rate of Return for Investments - Net Rate of Return
Biennium Period Actual Target
2015-17 M1 0% 0%
2015-17 M10 0% 0%
2015-17 M11 0% 0%
2015-17 M12 1% 0%
2015-17 M13 1% 0%
2015-17 M14 0% 0%
2015-17 M15 1% 0%
2015-17 M16 0% 0%
2015-17 M17 0% 0%
2015-17 M18 1% 0%
2015-17 M19 1% 0%
2015-17 M2 0% 0%
2015-17 M20 1% 0%
2015-17 M21 1% 0%
2015-17 M22 1% 0%
2015-17 M23 1% 0%
2015-17 M24 1% 1%
2015-17 M3 0% 0%
2015-17 M4 0% 0%
2015-17 M5 0% 0%
2015-17 M6 0% 0%
2015-17 M7 0% 0%
2015-17 M8 0% 0%
2015-17 M9 0% 0%
2017-19 M1 1% 1%
2017-19 M10 2% 1%
2017-19 M11 2% 1%
2017-19 M12 2% 2%
2017-19 M13 0% 0%
2017-19 M14 0% 0%
2017-19 M15 0% 0%
2017-19 M16 0% 0%
2017-19 M17 0% 0%
2017-19 M18 0% 0%
2017-19 M19 0% 0%
2017-19 M2 1% 1%
2017-19 M20 0% 0%
2017-19 M21 0% 0%
2017-19 M22 0% 0%
2017-19 M23 0% 0%
2017-19 M24 0% 0%
2017-19 M3 1% 1%
2017-19 M4 1% 1%
2017-19 M5 1% 1%
2017-19 M6 1% 1%
2017-19 M7 1% 1%
2017-19 M8 1% 1%
2017-19 M9 2% 1%
2019-21 M1 2% 2%
2019-21 M10 1% 0%
2019-21 M11 1% 0%
2019-21 M12 0% 0%
2019-21 M13 0% 0%
2019-21 M14 0% 0%
2019-21 M15 0% 0%
2019-21 M16 0% 0%
2019-21 M17 0% 0%
2019-21 M18 0% 0%
2019-21 M19 0% 0%
2019-21 M2 2% 2%
2019-21 M20 0% 0%
2019-21 M21 0% 0%
2019-21 M22 0% 0%
2019-21 M23 0% 0%
2019-21 M24 0% 0%
2019-21 M3 2% 2%
2019-21 M4 2% 2%
2019-21 M5 2% 1%
2019-21 M6 2% 1%
2019-21 M7 2% 1%
2019-21 M8 2% 1%
2019-21 M9 1% 1%