The State Treasurer's responsibilities include investment of the state's general revenue funds. While the state legislature appropriates almost all the money that is collected each year, that money is not spent all at one time. At any given time, there is approximately $4 billion in the state's account.

The Treasurer invests these funds in safe, conservative investments, with the assistance of his Chief Investment Officer. Investment earnings are used to fund the general operations of state government, and provide an additional source of revenue for schools, correctional facilities, and transportation improvements.

Numerous safeguards are in place to ensure that the investment operation functions with complete accountability, and that taxpayers are assured the best deal at the most reasonable price.

An internet-based bidding operation was started during 2006. This platform allows for broad competition on state investments by approved bidders and ensures detailed records are kept for complete accountability.

When the internet system cannot be used, telephone bids are taken. In this competitive bidding process, a minimum of three bidders compete on each purchase. The list of brokers that are permitted to bid on a transaction is generated independently from the investment officer. This assures that the investment officer has no opportunity to steer business towards selected, favored brokers. Further, all telephone conversations between the chief investment officer and the brokers are recorded. These conversations are monitored by an internal auditor, which provides an independent check and balance on the investment function.

Detailed documentation is kept on every investment transaction.

Each investment transaction is personally reviewed by three people: the Comptroller, the Internal Auditor, and Treasurer Scott Meacham, himself.

Treasurer's Investment Policy

Statement of General Requirements

Administrative Rules