Office of the General Treasurer Land Evidence records (1997-137)

Historical note

The General Treasurer is elected by the people every four years. The Treasury Department consists of the following divisions: Business Operations; Crime Victim Compensation; Employees’ Retirement System of Rhode Island; Finance and Investments including Cash Management, Debt Management, and Funds Operations Management; and Unclaimed Property. The annual budget for the General Treasurer’s office is approximately 28 million. Finance and Investments manages approximately $6.3 billion, including $300 million in cash and $6 billion in pensions. The General Treasurer serves as Chair on various boards and commissions such as the RI State Employees’ Retirement Board; RI Refunding Board Authority; and RI Public Finance Management Board. He also serves as a Commissioner of the RI Housing and Mortgage Finance Corporation and a Director on the Rhode Island Higher Education Assistance Authority.

The General Treasurer is responsible for the general policy and direction of all areas of the Treasury Department which includes retirement administration, investment of state money and pension funds, business office operations and unclaimed property. The General Treasurer is also responsible for legislation and legislative affairs and information.