Know More About Your Money

Louisiana’s new Treasurer thanked Congressman Mike Johnson, a personal friend who succeeded him eight years ago, for swearing him in. After 16 years of representing the state, the Treasurer praised the people and stressed the role’s significant duties.

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Strategic Role of Louisiana’s Treasurer in Managing Billions

While some consider the Treasurer’s role ceremonial, it includes more than signing checks. The Treasurer signs approximately $60 billion in checks annually to ensure state funds comply with constitutional and statutory laws. The Treasurer oversees expenditures, writing cheques up to $400 million a day under congressional authorization measures.

Apart from spending, the Treasurer earns $60 billion annually. The Treasurer transfers funds to the General Fund from state agencies’ bank accounts at the close of business every day. Louisiana’s largest bank is the state Treasury, which is not a bank.

The new Treasurer praised the team’s professionalism upon taking over. Instead of making big changes, the Treasurer wants to build on the department’s performance without scandals.

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Louisiana Treasurer Drives Financial Literacy in Schools and Champions Fiscal Responsibility

The Treasurer highlighted “Bank-at-School,” which establishes bank branches in schools to promote financial awareness. Louisiana public school students must pass a financial literacy course to get TOPS scholarships, under current legislation. The Treasury’s role in creating this training excites the Treasurer. Another important Treasurer function is investing almost $16 billion in state funds. State law governs investments, but the Treasurer sets policy. The Treasurer seeks to improve the state’s finances by divesting discriminatory or punitive funding.

The Treasurer also chairs the State Bond Commission, which votes on state and local obligations. The Treasurer manages the Unclaimed Property Division and serves on 30 boards and commissions to return over $700 million to citizens and companies.

The Treasurer wants to improve service delivery, reduce waste, and save taxpayer money. The Treasurer is excited to work with Governor Jeff Landry and the legislature to serve Louisianans well.

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