The state treasuries of the state serve as state banks; they also manage state money, and therefore play a vital role in their overall economic success. Universal among the states of Alabama, Kentucky, Illinois, New York and Michigan the role of the Treasury and their attitudes to university education. Each department works to invest in state funds to increase profits, thus increasing their revenue so the public can be more helpful. Each state has an unclaimed property fund to help lost property reach their owners, and each state has a savings program in place to help parents save for their children’s education children. Below is a brief description of some of the more interesting programs and information about each state:
Alabama State Capitol
* Prepaid Affordable College Tuition Program (PACT): This investment plan can help families by allowing them to purchase a contract to provide 135 semester hours of college tuition at any college or university around the country .
* Security for Alabama Funds Enhancement (SAFE): This program involves banks securing their own funds by asking them to guarantee the collateral Department for a collateral pool
Kentucky State Treasury
* The position of Treasurer was one of the first created by the state constitution in 1792; they are elected every four years and act as the elected official of the fiscal
* The KEES program: This is a lottery program set up to raise money to send college high school graduates
* Kentucky Teachers ‘Retirement System: Manages teachers’ pensions and savings
State of Illinois State
* Agriculture Program and Alternative Agriculture Loans: Offered by farmers or agricultural specialists who make alternative products such as grapes, strawberries, or hydroponically grown foods. Also for those in the Christmas Tree growing up, fish farming or wine business
* Bank At School: This program helps elementary school children learn the basics of managing money by partnering with a local bank with a school to run a bank located in school.
The State Bar of New York
* Deposit-Linked Program: This program is started to encourage small state businesses to invest. Banks offer a 2-3% minimum interest rate on loans
The project of the International Fuel Tax Agreement: the plan that facilitates how commercial motor carriers report their fuel taxes. With this plan it is possible to purchase a license that is applicable throughout IFTA’s jurisdiction.
Michigan State Treasure
* Tobacco Settlement Assets-Backed Taxes: the proceeds from the sale of these bonds are used to purchase tobacco receipts and revenues deposited in the 21st Century Workplace Trust Fund to create many high-tech jobs.
* Michigan Municipal Bond Authority (MMBA): Established in 1985 to provide schools and other government funding sources of various funding available for certain projects