Treasury Divisions and Programs

Divisions

The Treasury Department has set an investment policy stressing safety, liquidity, and yield as the key goals for all of the taxpayer's funds entrusted to them. 

The mission of the Investment Division is to provide investment programs that are safe, prudent, and appropriate for the public purpose of each fund, with rates of return consistently at or above performance benchmarks. 

 

LEARN MORE ABOUT TREASURY INVESTMENTS

Banking Services Contract

The Treasury Department provides banking and investment services for state funds. Under Colorado Revised Statute C.R.S 24-36-104, the Treasurer competitively selects banks located in Colorado to provide banking services to the state.

Treasury manages more than one hundred separate bank accounts and a variety of banking services for dozens of state agencies, including:

  1. General demand deposit account services (checking accounts),
  2. Funds concentration services, which are used to transfer funds from the bank accounts of various agencies to the state operating account,
  3. Controlled disbursement accounts, which facilitate daily cash management,
  4. Lockbox services, which process payments from taxpayers (e.g. boat permits, plumber licenses, business tax payments, etc),
  5. Electronic transfer services to individuals and businesses,
  6. Information services, which enable agencies to monitor account balances and identify transactions,
  7. Specialized services, including the safekeeping of investments.


Currently four banks are under contract to the State to provide these services:

  1. Chase Bank
  2. Key Bank
  3. Wells Fargo Bank
  4. US Bank

Numerous other banks throughout the State temporarily hold State funds deposited by remote State offices such as Parks or the Highway Patrol.

Bank fees are paid through a combination of interest earnings on account balances and direct invoices. The latter may range from $50,000 to $100,000 per month, depending upon the interest earnings offset and the volume of bank activity, i.e. number of checks deposited, number of lockbox documents processed, number of electronic payments, etc.

Every bank under contract to Treasury must meet two statutory requirements. It must be a certified public depository as set forth by the State Public Deposit Protection Act (PDPA) CRS ¬ß11-10.5-101 and maintain that status throughout the term of the contract. For more information about the PDPA, see the state banking commission's website. Every bank covered by the Federal Community Reinvestment Act (12 USC 2901) must maintain a CRA rating of satisfactory or outstanding. The CRA governs a bank's services to its local community, among other requirements.

Additional information about state banking services may be obtained from the cash manager at (303) 866-3253.

The following websites contain additional information relevant to banking services:

Public Deposit Protection Act

U.S. Mint

U.S. Comptroller of the Currency

Colorado Bankers Association

Cash Management Assistance Request

The Treasurer's Cash Management responsibility under C.R.S. 24-22-107(6) extends to all areas of the state government. Cash-management objectives include expediting the deposit of revenues while paying obligations as close to the due date as possible in order to maximize cash balances and increase investment returns. Another objective is expanding the use of electronic transactions to replace paper payments. Through the use of credit cards, automated clearinghouse (ACH) payments, or wires sent through the Federal Reserve Bank the Treasurer reduces processing costs and better manages the timely distribution of state funds.

The Cash Management staff provides efficient management of state receipts and disbursements, ensures effective banking services to state departments, and offers cash-management assistance to state departments and local governments. The latter service is authorized under C.R.S. 24-22-107(6.5) and is initiated only by an invitation from the department or local government. The assistance includes an analysis of the financial operations and recommendations to reduce expenses or provide additional revenues. Operations typically examined include cash processing, banking services, and investment policies and programs. There are no fees for the assistance, except for travel expenses incurred if an on-site visit becomes necessary.

To request cash-management assistance, please email Treasurer Young at treasurer.young@state.co.us and briefly describe your current financial operations and assistance needed. For additional information, please contact the Cash Management Staff at (303) 866-3253.

Incremental Borrowing Rate

The schedule as of 8-31-21 is inclusive of the rates for 6-30-21 and 7-30-21

Incremental Borrowing Rate as of September 30, 2021

Incremental Borrowing Rate as of August 31, 2021

Incremental Borrowing Rate as of July 30, 2021

Incremental Borrowing Rate as of June 30, 2021

Fiscal Procedures Manual

Balance Sheet

Quarterly Statement of Financial Condition

Interest Distributions 

By state law, Treasury invests cash funds created by the State Legislature, and certain funds are able to retain the investment income earned while being held. This income is distributed monthly based on the fund's average balance within the pooled funds.

FY19 Interest Distributions

FY18 Interest Distributions

FY17 Interest Distributions

FY16 Interest Distributions

FY15 Interest Distributions

FY14 Interest Distributions

For any questions regarding interest allocations, please contact:

Debra Flotte

Phone: (303) 866-4949

debra.flotte@state.co.us

Cashier Process

Cashier Window

All Fiscal Procedures Manual 2021 State agencies (with a few exceptions) are required by state statute to deposit all revenues with the State Treasury. The Treasury's cashier window accepts all checks and cash deposits from state agencies and makes payments to state agencies as required to fulfill the agency's mission. The cashier's office also provides information on cash receipts and disbursements to individual agencies and works closely with the state\'s banking services provider to ensure that the state's cash flows are reconciled on a daily basis.

Cashiers Window Contact:

Head Cashier - (303) 866-2440 - treasurycashier@state.co.us
Wire/ACH Transfers, Direct Deposits

Check Encoding - (303) 866-4950
Return Items, Safekeeping & Forgeries -  (303) 866-4949 

The Great Colorado Payback is responsible for reuniting Coloradans with their lost or forgotten assets.

Even businesses lose track of property and payments, occasionally resulting in unclaimed property which can be claimed. Corporations, schools, hospitals, and small businesses are also listed among the many individuals whose assets are in the possession of the State.

Money or property turned over to the State Treasury for safekeeping always belongs to the owner or heir of the account and there are no time limits for filing your claim. The Colorado State Treasurer currently maintains a list of over 1.7 million names of individuals as well as businesses for whom property is available.

Great Colorado Payback Website

Click Here for more information regarding the current Rulemaking process.