State Treasuries serve as state banks, but also manage the state's
money, and therefore play a vital role in overall economic success.
Universal among the states of Alabama, Kentucky, Illinois, New York and
Michigan is the role of treasurer and attitudes in higher education.
Each department functions to invest state funds in order to maximize
profits, thus increasing their income so that the public can be better
cared for. Each state has an unclaimed property fund to help reach the
lost objects to their owners, and each state has implemented a savings
program to help parents save for their children's education. Below is a
brief description of some of the most interesting and information about
each state:
Alabama State Treasury
* Prepaid
Affordable College Tuition Program (PACT): This investment plan helps
families by allowing them to purchase a prepaid contract to 135 semester
hours of undergraduate studies in any college or university in the
country
* The Security Council of Alabama Funds Enhancement
(SAFE): This program consists in obtaining the banks of its own funds,
by requiring that the collateral for the Treasury Department for a set
of guarantees
Kentucky State Treasury
* The position
of Treasurer was created by the first state constitution in 1792, but
are elected every four years and act as the chief elected fiscal officer
* Kees program: This is a lottery program created to raise money to send high school graduates to college
* System Kentucky Teachers' Retirement: oversees pensions and savings of teachers
Illinois State Finance
*
Agriculture and Alternative Agriculture Program Loan: Offered to
farmers and agricultural specialists that produce alternative products
such as grapes, strawberries, or hydroponic food. Also for those who are
in the Christmas tree growing, fish farming and wine-making business
* Bank in School: This program helps elementary school children learn
the basics of money management through a partnership of a local bank
with a school to run a bank in the school.
New York State Treasury
* Linked Deposit Program: This program was initiated to promote small
businesses in the state to invest. Banks offer interest rates below 3.2%
of loans
* Fuel Tax Agreement International project, the plan
simplifies the way of commercial carriers report their tax motor fuel
use. With this plan you can buy a license that can be used along IFTA
jurisdictions.
Michigan State Treasury
Solution snuff *
Taxable bonds backed by assets, the proceeds of the sale of these bonds
were used to purchase Work of Snuff and the proceeds deposited into the
21st Century Jobs Trust Fund to create more high-tech jobs.
*
Michigan Municipal Bond Authority (MMBA): Established in 1985 to give
schools and other areas of government funding source other than the use
of certain projects.
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