State Treasuries - The Three Main Ones In The United States

The state treasuries perform crucial roles in the economic lives of their jurisdictions. For one thing, these treasuries are the official depositories of the states in addition to managing all the monies that come into the state's coffers. If ever a state's treasury should go bankrupt, the government and the people with suffer in more ways than one.

For another thing, a state's treasury implements programs and projects maximizing the profits from the funds coming into the government's coffers. This is usually achieved through strategic investments in debt and asset securities, among other investment instruments.

With that being said, here are short descriptions of three notable state treasuries and their interesting programs and projects. Keep in mind that these are just a few examples of the hundreds of possible programs implemented to help the state and its people in various ways from education to infrastructure.

State Treasuries #1 - Illinois Department of Treasury

The Illinois state treasury is one of the well-managed treasuries in the country despite the recession. Many of its programs and projects actually benefit its people with the most notable being:

• The Agriculture and Alternative Agriculture Loan Program is given to agriculturists and farmers who are into the production of alternative products including but not limited to strawberries and grapes as well as Christmas trees. Hydroponic farmers and fish farmers can also avail of the program.
• The Bank at School program is a program designed to educate elementary schools children about the fundamentals of managing money. After all, these children can be the managers of state treasuries someday.

State Treasuries #2 - New York State Treasury

Yet another treasury in a better state than most is the New York State Treasury although this is up for debate. However, everybody will agree that the following programs are the good ones because of their investments toward progress starting from the grassroots level:

• The Linked Deposit Program was designed to boost the opportunities for small businesses to actually turn a profit sans the burden of high interest rates on loans. It was also formulated with the intention of encouraging more small business to invest more in the state. The participating banks offered loans with lower interest rates by up to 3% than the usual rate.
• The International Fuel Tax Agreement Project simplified the way commercial motor carriers report these taxes on fuel use. The effect was that these carriers will only purchase one license, which can then be used anywhere within the IFTA jurisdiction.

State Treasuries #3 - Alabama State Treasury

The Alabama State Treasury is also one of the well-managed state treasuries in the country judging by the economic health of the state itself. Its programs help the economy in various ways as follows:

• The Prepaid Affordable College Tuition Program is an investment plan designed to help families by providing them with the opportunity to acquire an agreement for college education. The contract calls for prepayment of one hundred thirty five semester hours of college tuition for the beneficiary with the good news being that it can be used in any university or college in the United States.
• The Security for Alabama Funds Enhancement program is a plan where banks are required to secure their own money with pledge collateral deposited at the Treasury Department.

With these state treasuries, their jobs are not just to handle money but to ensure that the state governments have the capacity to help their constituents.