About The Office

Treasury Seal

Mission

The mission of the Office of the General Treasurer is to promote economic growth and financial security for all Rhode Islanders.

The Office works to protect the State’s assets with sound investments and strengthen the State’s financial position. Under Treasurer Magaziner’s leadership, the Office operates with greater transparency and accountability, and ensures that Rhode Islanders benefit from exceptional performance through all the programs the Office manages.

Back to Basics Investment Policy

Treasurer Magaziner’s “Back to Basics” investment policy continues to provide strong performance, growth and stability to the pension system, closing the Fiscal Year ended June 30, 2021, with an all-time high investment gain of more than $2.2 billion for a total value of more than $10.3 billion in assets.

Public School Infrastructure

Every child in Rhode Island deserves to go to a school that is warm, safe, dry, and equipped for 21st Century learning. Treasurer Magaziner created a plan to make a once-in-a-generation investment in Rhode Island’s public school infrastructure. So far, more than $1.4 billion in new projects have been approved, supporting repairs or replacements of 176 school buildings across 25 districts.

BankLocal

BankLocal, which was launched in 2017, has helped over 350 small businesses in Rhode Island get the loans they need to expand and hire, by moving more than $47 million of the State’s cash to local banks and credit unions. Loans made to first-time business owners, and business owners who are veterans, women, and people of color are eligible for a 2-to-1 matching deposit, with approximately 1/3 of current BankLocal-backed loans qualifying for the match.

Unclaimed Property

Each year, the Treasurer’s office receives millions of dollars of Rhode Islanders’ missing money, and the Treasurer’s office works to reunite this money with its rightful owner. The Treasurer has returned $73 million of Unclaimed Property to nearly 100,000 Rhode Islanders.

Crime Victim Compensation Program

If you or a loved one has been a victim of violent crime in Rhode Island and you need assistance, the Crime Victim Compensation Program may be able to help. The program received over 1,000 claims in 2020, including 234 claims for children who need mental health services after witnessing acts of domestic violence. 

CollegeBound Saver

Under Treasurer Magaziner’s tenure, CollegeBound Saver, Rhode Island’s 529 tuition savings plan, has emerged as a nationally recognized program to help families save for the cost of education. In 2020, Treasurer Magaziner announced that CollegeBound accounts can now be used to pay for apprenticeship programs, which are valuable for workers who are at the beginning of their career or are considering a career change. 

Financial Empowerment Roundtable

Members of Treasurer Magaziner’s Financial Empowerment Roundtable are working to guarantee that all Rhode Islanders have access to financial education and safe, affordable financial services. Treasurer Magaziner’s Office led the advocacy efforts to ensure all Rhode Island high school students will receive personal finance education before they graduate.

Boards

Treasurer Magaziner serves on the board of the Rhode Island Infrastructure Bank, along with the State Investment Commission, the State Retirement Board, the Public Finance Management Board, the Rhode Island Housing and Mortgage Finance Corporation, the Rhode Island Student Loan Authority and the Rhode Island School Building Authority

Affirmative Action Plan

The Office of the General Treasurer supports affirmative action and equal opportunity and will post all vacancies, including transfers, and will recruit, hire, train, and promote persons in all job classifications without regard to race, color, sex, religion, sexual orientation, gender identity or expression, age, national origin, disability, or veteran status.  Our Affirmative Action Plan can be downloaded below.