Office of State Treasurer
Denise L. Nappier
About the Connecticut State Treasury
To serve as the premier Treasurer's Office in the nation through effective management of public resources, high standards of professionalism and integrity, and expansion of opportunity for the citizens and businesses of Connecticut.
The Office of the Treasurer includes an Executive Office as well as five distinct divisions, each with specific responsibilities: Cash Management, Debt Management, Second Injury Fund, Pension Fund Management Division, and Unclaimed Property Division. The functions and on-line services of the Treasurer's Office are outlined below.
The Executive Office is responsible for overall policy, planning and general administration designed to:
enhance the financial integrity and soundness of Treasury operations,
provide direction and leadership in carrying out Treasury functions and
foster economic well-being of the state and its citizens and businesses within the confines of fiduciary standards. Specific activities include legislative affairs and public information, responsible investment relations, management services, legal services and community outreach.
The main objective of the Executive Office is to ensure that the Treasury adheres to the highest order of public values, fiscal prudence and ethics in the conduct of the people's business.
As principal fiduciary for six State pension and eight State trust funds, the Treasurer is responsible for prudently managing the assets for approximately 190,000 teachers, state, and municipal employees who are pension plan participants and beneficiaries as well as academic programs, grants, and initiatives throughout the state. The Division monitors investment manager performance and selection, and serves as staff to the Investment Advisory Council (IAC).
As the clearinghouse for all of the State's cash inflows and outflows, the Cash Management Division is responsible for managing the State's cash transactions, banking relationships, and short-term investments. It is organized into four units including Bank Control and Reconciliation, Cash Control, Short-Term Investments, and Client Services. The Division's activities include cash accounting and reporting, cash positioning and forecasting, short-term investing, and bank account administration. The mission of the Division is to prudently and productively manage its clients' cash, including that of State agencies and authorities, and hundreds of municipal and local government entities.
As the public finance department for the State, the Debt Management Division is responsible for issuing and managing the State's debt in a prudent and cost-effective manner. The Division issues bonds to finance state capital projects, manages debt service payments and cash flow borrowing, maintains the State's rating agency relationships, and administers the Clean Water and Drinking Water loan programs. The Division's mission is to manage the State's debt programs effectively and efficiently to minimize the cost of the State's debt to Connecticut taxpayers.
The mission of the Second Injury Fund is to provide quality service both to the injured workers and employers of Connecticut, whom we jointly serve. The Fund will accomplish this by adjudicating qualifying workers' compensation claims fairly and in accordance with applicable law, industry standards and best practices. Where possible, the Second Injury Fund seeks to return injured workers to gainful employment or will seek settlement of claims which will ultimately reduce the burden of Second Injury Fund liabilities on Connecticut taxpayers and businesses.
Unclaimed Property Division
The Treasurer is responsible for safeguarding assets whose rightful owners cannot be located. These assets include cash from bank and other accounts, uncashed checks, stock and mutual fund shares, contents of safe deposit boxes, and miscellaneous intangible assets. These assets are relinquished to the Treasurer by banks, insurance companies, utilities, hospitals, brokerages, and others. The Treasurer safeguards these assets, publicizes the names of the rightful owners, and returns those assets to the owners as they are located or come forward.