Duties

Arkansas Code Section 25, Chapter 16

Established by the state Constitution the Treasurer of State’s Office is charged with numerous administrative and service duties that were established by the legislature and are found in the Arkansas Code Annotated.

RECEIVE - The Office receives and keeps all state money collected by the administering agency.

RECONCILE - The Office keeps an account of all money received and disbursed for over 400 fund accounts representing the fund equities of more than 200 state agencies.

REDEEM - The Office disburses funds by redeeming warrants drawn on the State Treasury in accordance with state law.

REPORT - The State Treasurer reports to the Governor every two years through the Biennial Report the condition of the Treasury and its operations.

Other Duties of the Treasurer

• Serves as custodian and safekeeping agent for twelve state systems with an average balance of over $600 million.
• Manages and invests cash funds.
• Distributes county and municipal aid, averaging $191 million per year.
• Distributes Local Sales and Use taxes, Real Estate Transfer taxes, Severance, Additional Severance, Boating Safety, and Dog Racing taxes.
• Services Rural Medical Revolving Loans and Grants.
• Processes debt service, investing, and paying agent fees for general obligation bonds and college savings bonds.