The Office of the State Treasurer serves as the bank for South Carolina state government and is responsible for the safety and security of the Palmetto State’s money, now and into the future.
Here is an overview of the responsibilities of the divisions within the State Treasurer’s Office:
The Administration Division is responsible for administrative support to the State Treasurer. That includes budget, planning and accounting, human resources management, payroll, procurement and facilities management.
The Banking & Investment Management Division manages specialized banking services for State agencies and universities and performs daily cash-management functions to maximize bank-available operating funds for investment. Staff invests and manages state and local government funds in accordance with applicable state laws to preserve capital, maintain liquidity and obtain the best return within the appropriate risk parameters.
The Communications Division provides public relations and marketing support to promote greater awareness of the State Treasurer’s Office programs and operations.
The Debt Management Division is responsible for managing the debt for the State, its agencies, institutions and authorities, optimizing the debt structure and ensuring timely repayment of debt when it is due. Staff also manage the State’s Master Lease Program and the Charter School Revolving Loan Fund.
The Information Technology Division is responsible for the development, implementation, support and security of the agency's systems, applications, data, networks and hardware.
The Legal Division provides counsel and advice to the State Treasurer in connection with his duties as Vice Chairman of the State Fiscal Accountability Authority and other appointed positions, reviews all contracts for the agency and processes Freedom of Information Act requests.
The Programs Division oversees the Future Scholar 529 College Savings Plan, the SC Tuition Prepayment Program, the Palmetto ABLE Savings Program and the state’s Unclaimed Property Program.
The Treasury Management Division is responsible for all Treasury accounting activities for the State. This involves the daily accounting for all cash disbursement and depositary activities of the State and the administration of Court Fees and Fines, Aide to Subdivisions and the Confiscated Cash programs.