Utah Administrative Code Topic - Treasurer
Overview of UAC – Treasurer
The Treasurer topic in the Utah Administrative Code governs the duties, responsibilities, and administrative procedures of the Utah State Treasurer. The State Treasurer is the chief financial officer of the state, responsible for managing public funds, investments, debt, and banking operations for the state government. The UAC sets the rules and procedures to ensure accountability, transparency, and proper management of public money.
Key Areas Covered Under the Treasurer Topic
Duties and Responsibilities of the State Treasurer
Safeguarding and managing state funds.
Overseeing investments of state money, including short-term and long-term investments.
Managing state debt, including issuing bonds and repayment schedules.
Acting as a custodian of state funds and ensuring liquidity for government operations.
Cash Management and Banking
Procedures for depositing, transferring, and withdrawing state funds.
Maintaining relationships with banks, financial institutions, and other fiscal agents.
Ensuring compliance with internal controls and state financial policies.
Investment Policies
Rules for safe, prudent, and lawful investment of public funds.
Diversification, risk management, and reporting requirements for investments.
Periodic audits and review of investment performance.
Debt Management
Regulations for issuing bonds and other debt instruments on behalf of the state.
Compliance with statutory limits on state debt.
Transparency in bond sales, interest payments, and debt reporting.
Financial Reporting and Accountability
Requirements for regular reporting of the state’s financial condition.
Transparency measures for legislative oversight and public disclosure.
Rules for maintaining accurate records of all transactions and funds.
Public Funds Programs
Oversight of programs such as college savings plans, unclaimed property, and other trust funds.
Ensuring proper administration and compliance with applicable laws.
Administrative Procedures
Rulemaking authority and processes for implementing policies.
Procedures for handling complaints, inquiries, and requests related to treasury operations.
Internal policies for ethics, staff conduct, and governance.
Purpose of the Treasurer Topic
The primary objectives of UAC for the Treasurer are to:
Ensure responsible management of state funds and investments.
Maintain public trust through transparency and accountability.
Support financial stability and liquidity of the state government.
Provide a legal and procedural framework for the operations of the Treasurer’s office.
✅ In short: The Utah Administrative Code’s Treasurer topic establishes the rules, procedures, and standards for managing state funds, investments, debt, and financial operations, ensuring that public resources are handled safely, transparently, and efficiently.
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