Administration & Finance oversees the fiscal and administrative activities of the Treasury, including managing budget procedures, operating trusts and capital budgets.
The Alcoholic Beverages Control Commission is an agency under the Office of the State Treasurer. The overall objective to provide uniform control over the sale, purchase, transportation, manufacture, and possession of alcoholic beverages in the state.
Responsible for managing the Commonwealth’s daily cash flows. Responsibilities include managing the state’s banking needs, quarterly local aid payments municipalities, management of short-term investment pool for the Commonwealth’s working capital and the regular reconciliation of state agency bank accounts.
Responsible for managing the Commonwealth's short-term and long-term borrowing needs. Short-term borrowing is done through the sale of revenues anticipation notes and commercial paper long-term borrowing is done through the sale of Commonwealth bonds.
The SMART plan is the Commonwealth’s $5.1 billion deferred compensation plan, which was established in 1976 as a public employee benefit program.
The Massachusetts Office of Economic Empowerment (OEE) is a department within the Massachusetts State Treasury tasked with supporting, advocating, and facilitating policies that empower all Massachusetts residents. Its priorities include closing the wage gap, increasing access to financial education, improving college affordability, and investing in STEM careers and education.
Provides constituent services and support for the Treasurer. The communications director, Legislative Director, policy advisors, and chief of staff support and assist in the execution of the administration’s goals.
Responsible for implementing standards of accountability, employment, and labor legal compliance within the treasury.
Provides computer services and information technology support to the Treasury.
Independently evaluates the adequacy of the Treasury’s internal controls. Collaborates with the Office of the State Auditor to conduct Treasury audits.
Acts as in-house counsel to the Treasurer and all Treasury departments. Attorneys advise and consult department heads on a variety of legal issues, drafts legal memoranda, appear in administrative hearings, and write policies.
The Massachusetts School Building Authority MSBA is an authority created to reform the process of funding capital improvement projects in the Commonwealth’s public schools. The MSBA strives to work with local communities to create affordable, sustainable, and energy efficient schools across Massachusetts that promote 21st century learning environment.
The State Retirement Board administers the retirement benefits of the Massachusetts State Employees' Retirement System. The Board is comprised of five members, of which the Treasurer is Chair.
The Massachusetts Clean Water Trust is an agency that improves water quality throughout the Commonwealth by providing low-interest loans to municipalities and other eligible entities.
This program provides education advocacy for seniors to become more aware of the legislative process.
The Massachusetts State Lottery was created in 1972 to generate much-needed local aid revenues for the commonwealth’s cities and towns. The Treasurer chairs a five-person commission.
The nine-member PRIM Board, of which the Treasurer is Chair, manages the Pension Reserves Investment Trust (PRIT) Fund, a pooled fund which invests the assets of various state and local retirement funds.
The Small Business banking Partnership is an initiative that invests state reserve funds into Massachusetts community banks with the understanding that the financial institutions will use the deposits to make new loans to small credit-worthy businesses.
Protects the unclaimed assets belonging to the citizens of the Commonwealth. Under state unclaimed property laws, most financial assets that have been inactive for three years are reported to the division.
The Treasury administers a “Welcome Home” Bonus program for veterans of the armed services. The program provides bonus payments for veterans, servicemembers, and their families for qualified service in the United States.