Role of RI State Treasurer

  • The office manages $10.8 billion of investments
  • Processes $81.1 billion of annual transactions
  • Distributes $1 million annually for the Crime Victim Fund
  • Distributes $13 million annually of unclaimed property funds
  • The College Bound Funds has $5.2 billion of assets
  • The RI Able Program has $1.5 million of assets

The General Treasurer of Rhode Island is one of the five general state officers directly elected by the voters and serves as the custodian of state funds for the Rhode Island government.

The General Treasurer is tasked with managing the state’s finances and serves on a variety of boards and commissions. The Office of the General Treasurer’s mission is “to protect the state’s assets with sound financial investments, strengthen the state’s financial position, encourage economic growth, operate with transparency and accountability, and ensure Rhode Islanders benefit from exceptional performance through all the programs the office manages.”

The General Treasurer’s Office reconciles and disburses most state funds, issues general obligation notes and bonds, manages the investment of state funds, and oversees the retirement system for state employees, teachers, state police, judges and some municipal employees. The position is also responsible for the management of the Unclaimed Property Division and the Crime Victim Compensation Program as well as the oversight of the investments for the state-sponsored College Bound and RI Able Funds.

The General Treasurer serves on the board of the Rhode Island Infrastructure Bank, the State Investment Commission, the State Retirement Board, the Public Finance Management Board, the Rhode Island Housing and Mortgage Finance Corporation, the Rhode Island Student Loan Authority, the Rhode Island School Building Authority, and the Rhode Island School Building Task Force.

Rhode Island does not need another politician managing these assets. Rhode Island needs an accomplished financial professional, committed to the duties of the office.

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