What is the State Treasurer?

While most Hoosiers don’t wake up thinking about the State Treasurer, or public finance for that matter, it’s an office that has a huge impact on our state and its citizens. The decisions made by the State Treasurer can affect every facet of our lives – from cradle to grave.

A position created in the Indiana Constitution, the Treasurer is the Chief Investment Officer for the State of Indiana. The Treasurer manages more than $7 billion in investments, oversees 74 different trusts, and is charged with the operation of several economic programs and services.

The Treasurer is chair of the Indiana Bond Bank, a bank operated by the state that assists local governments with infrastructure investments; the Indiana Education Savings Authority, which manages the state’s college savings accounts; and the Board for Depositories and the Public Deposit Insurance Fund, which insures the deposits of local governments much like the FDIC. The State Treasurer also influences the state's financial management through his or her service on the State Board of Finance, Indiana Finance Authority, Indiana Transportation Finance Authority, State Office Building Commission, Recreational Development Commission, Indiana Grain Indemnity Fund Board, Indiana Institute for Public Funds Management, Indiana Underground Storage Tank Financial Assurance Board, and the Indiana Heritage Trust Committee.

And while these functions themselves are critical to the daily operation of the state, the State Treasurer can do much more.

Using the office’s bully pulpit and the power of the purse strings, the State Treasurer can serve as an influential financial watchdog for the people of Indiana. With the right leadership and priorities the Office of State Treasurer can help to lower taxes by investing state funds more wisely. The Treasurer can protect citizens against risky Wall Street schemes. And, as the leading elected economic officer, the Treasurer can serve as an independent voice in state financial decisions.

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