State Treasuries Of The United States - A Snapshot

State treasuries serve as the banks of the state; theyofficer * KEES program: This is a lottery program set
also manage the money of the state, and thereforeup to raise money to send graduating high school
serve a vital role in their overall economic success.seniors to college * Kentucky Teachers' Retirement
Universal among the states of Alabama, Kentucky,System: Oversees the pensions and savings of
Illinois, New York and Michigan is the role of theteachers
treasurer and their attitudes on university education.Illinois State Treasury
Each department functions to invest state funds in* Agriculture and Alternative Agriculture Loan Program:
order to maximize profit, thereby increasing theirOffered to farmers or agriculture specialists who
revenue so that the public can be better assisted.produce alternative products such as grapes,
Each state has an unclaimed property fund to help loststrawberries, or hydroponically grown food. Also for
items reach their owners, and each state has athose who are in the Christmas Tree growing, fish
savings program implemented to assist parents infarming or wine-making business * Bank At School:
saving for their children's education. Below is a shortThis program helps elementary school children learn
description of some of the more interesting programsthe basics of money management by partnering a
and information about each state:local bank with a school to run an in-school bank.
Alabama State TreasuryNew York State Treasury
* Prepaid Affordable College Tuition* Linked Deposit Program: This program was started
Program(PACT):This investing plan helps families byto encourage small businesses in the state to invest.
allowing them to purchase a contract to prepay 135Banks offer a 2-3% lower interest rate on loans *
semester hours of college tuition at any college orInternational Fuel Tax Agreement project: this plan
university around the country * The Security forsimplifies how commercial motor carriers report their
Alabama Funds Enhancement (SAFE): This programfuel use taxes. With this plan they can buy one license
involves banks in securing their own funds by requiringthat can be used throughout IFTA jurisdictions.
them to pledge collateral to the Treasury DepartmentMichigan State Treasury
for a collateral pool* Taxable Tobacco Settlement Asset-Backed Bonds:
Kentucky State Treasurythe proceeds from the sale of these bonds is used to
* The Treasurer position was among the first createdbuy tobacco receipts and proceeds are deposited in
by the state constitution in 1792; they are electedthe 21st Century Jobs Trust Fund to create more
every four years and act as the chief elected fiscalhigh-tech jobs.