The Treasurer's cash management responsibility extends to all areas of state government and encompasses receipt and disbursement processing, banking services, credit card services, technical assistance to state agencies and local governments, and federal grant payments.

Effective cash management expedites the receipt and deposit of state revenues while paying obligations on the scheduled due date. The goal is to maximize cash balances available for investment and thus increase interest earnings that can replace taxes paid by citizens. Maximizing cash balances also involves replacing paper transactions with electronic transactions such as credit cards or electronic transfers. Using electronic transactions, the Treasurer accelerates the collection of receipts and more effectively manages the disbursement of state funds while reducing processing costs.

A major responsibility of the Treasurer is the management of the state's bank accounts. More than 100 accounts providing banking services to dozens of agencies are under the Treasurer's administrative control. Such control includes auditing banking costs and ensuring agencies are benefiting from the latest cash management services offered by Colorado banks under contract to the State.

Another cash management responsibility is the statewide agreement for credit card services. By consolidating agencies' credit card services to citizens into one agreement under the Treasurer, the state obtains significant fee reductions from volume discounts. As an expanded benefit to Colorado residents, services under the statewide credit card agreement are also available to local governments.

Cash management technical assistance to state agencies and local governments is authorized by C.R.S. 24-22-107(6.5). Local government assistance is provided only upon request and may include an analysis of the entity's cash processing, banking services, or investment policies. Except for travel expenses, there are no fees to the entity. In the past, assistance has been provided to the Dolores and Garfield county treasurers, the Red White and Blue fire district in Summit County, and the Merino School District in Logan County. To request assistance, please email Treasurer Kennedy briefly describing the assistance needed.

Cash management between the state government and federal government is implemented by the Treasurer under the Federal Cash Management Improvement Act (CMIA). State payment processes are developed by the Treasurer that minimize interest liabilities due to mismatched state grant payments and federal reimbursements.

For more information please contact the cash manager at (303) 866-2441.