Office of Program Policy Analysis and Government Accountability
Office of Program Policy Analysis and Government Accountability

Department of Financial Services

Treasury

For assistance, call 850-413-3165 or visit https://www.myfloridacfo.com/Division/Treasury/

What is the purpose of the Treasury?

The Treasury operates a cash management system and performs standard treasury functions such as operating a statewide deposit concentration system and receipts and payments posting systems. The Treasury also operates a large collateral management program to protect the financial assets pledged by entities doing business in the state or with the state and manages a supplemental retirement program for state and other public sector employees.

How are program services provided?

The Treasury has three bureaus that fulfill its statutory responsibilities.
  • Collateral Management administers assets such as cash, certificates of deposit, letters of credit, and marketable securities that are deposited with or pledged to the bureau for safekeeping. These collateral assets are required of banks, trust companies, insurance companies, and other parties by state agencies and other Florida governmental units as a condition of doing business in Florida. The bureau also administers Florida's Public Deposits Program.
  • Deferred Compensation manages the Deferred Compensation Plan, a voluntary pretax retirement program that supplements employee investment in the Florida Retirement System Pension and Investment Plans and provides employees of the State of Florida with tools to help prepare for financial security during retirement. To achieve this goal, the bureau partners with three investment providers to offer investment products.
  • Funds Management operates a cash management system to maximize investments by speeding the flow of funds into the Treasury and performs standard Treasury functions such as operating statewide receipts and payments posting systems. In addition, the bureau manages the Treasury Investment Pool, which is a fixed income investment operation for both general revenue and trust funds and funds of organizations participating in the Special Purpose Investment Program.

What is the market value of the Treasury's holdings?

As of February 2023, Florida Treasury Investment Pool holdings had a total market value of $61,223,533,387.

What is the annual gross investment yield on Treasury investments?

In Fiscal Year 2022-23, the average gross investment yield on Treasury investments was 1.5395%, an increase from the Fiscal Year 2021-22 investment yield of 0.8476%. The Treasury Investment Pool is managed using conservative investment principles to provide liquidity and generate incremental returns for the state and other government-related organizations.

How are these activities funded?

Fiscal Year: 2023-24
Fund Dollars Positions
PROGRAM: TREASURY
DEPOSIT SECURITY
2,211,940
20.00
STATE FUNDS MANAGEMENT AND INVESTMENT
5,485,539
26.50
SUPPLEMENTAL RETIREMENT PLAN
1,945,197
13.00
TOTAL
9,642,676
59.50

Updates

Deferred Compensation Plan Changes. The 2023 Legislature enacted Ch. 2023-144Laws of Floridawhich allows a governmental employee of any governmental unit of the state to participate in the Deferred Compensation Plan such as a county, municipality, or Florida College System institution. Prior to 2023, the Deferred Compensation Plan was open to employees of state agencies, the State University System, the State Board of Administration, and other special district employers (subject to employer election).

Where can I find related OPPAGA reports?

A complete list of related OPPAGA reports is available on our website.

Where can I get more information?

Other Reports
Florida Treasury Annual Report Fiscal Year 2019-20, February 2021
Department of Financial Services - Division of Treasury Selected Treasury Systems - Information Technology Operational Audit, Auditor General Report 2020-056, November 2019
Florida's Comprehensive Annual Financial Reports
, Florida Department of Financial Services

Websites of Interest
National Association of State Treasurers

Performance Information


Performance measures and standards for the department may be found in its Long Range Program Plan.

What are the applicable statutes?

Chapters 17 and 280, Florida Statutes

Whom do I contact for help?

Treasury Division, 850-413-3165, contact portal: Ask FLDFS (myfloridacfo.com)
Website