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Home > State > Executive > Office of the State Treasurer > Agency Subdivisions

Office of the State Treasurer: Agency Subdivisions

The Labor and Industries Building in Salem houses subdivision offices of the Office of the State Treasurer. (Oregon State Archives Photo)

The Labor and Industries Building in Salem houses subdivision offices of the Office of the State Treasurer. (Oregon State Archives Photo)

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Executive Division
Address: 159 State Capitol Bldg., 900 Court St. NE, Salem 97301
Phone: 503-378-4329
Contact: Tom Rinehart, Chief of Staff


Duties and Responsibilities: The Executive Division coordinates policy development, strategic planning, legislative initiatives, media relations, internal auditing functions, human resource functions and the publication of treasury financial reports. The state treasurer, by constitutional authority, serves on the State Land Board and, by statute, on a number of public financial boards and councils.

 

Debt Management Division
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall, Director


Duties and Responsibilities: The Debt Management Division oversees the sale, issuance and on­going management of all state bonds and serves as the state’s liaison to rating agencies and investors with regard to the state’s financial condition.


Facilities Authority, Oregon
Address: 1600 Pioneer Tower, 888 SW 5th Ave., Portland 97204
Phone: 503-802-2102
Contact: Gwendolyn Griffith, Executive Director
Statutory Authority: ORS 289.100


Duties and Responsibilities: The Oregon Facilities Authority was created in 1989 and is empowered to issue bonds that assist with the financing of property and facilities for health, housing, educational and cultural uses. The authority reviews proposed projects and makes recommendations to the state treasurer about the issuance of bonds.

Municipal Debt Advisory Commission
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall, Debt Management Division Director
Statutory Authority: ORS 287.030


Duties and Responsibilities: The Municipal Debt Advisory Commission collects and reports information related to Oregon local government debt and provides policy input to the Legislature on debt matters of local governments.

Private Activity Bond Committee
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall, Debt Management Division Director


Duties and Responsibilities: The Private Acti­vity Bond Committee allocates tax-exempt private activity bond allotments provided to the state under federal tax law.

State Debt Policy Advisory Commission
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall, Debt Management Division Director
Statutory Authority: ORS 286.550–286.555


Duties and Responsibilities: The State Debt Policy Advisory Commission prepares annual reports regarding outstanding state debt and makes recommendations for affordable levels of state debt in the future.

 

Finance Division
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4633
Fax: 503-373-1179
Contact: Cora Parker, Director


Duties and Responsibilities: The Finance Division provides cash management services to all Oregon state agencies and hundreds of Oregon local government entities, including cities, counties, schools and special districts. The division also administers public funds collateralization requirements governed by ORS chapter 295. As the central bank for state agencies, the division manages millions of financial transactions annually, including cash deposits, electronic fund transfers, and check issuance. The division also administers the Local Government Investment Pool, which provides a short-term investment vehicle for local governments’ idle cash.


Short Term Fund Board
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4552
Fax: 503-378-2870
Contact: Heidi Rawe
Statutory Authority: ORS 294.885


Duties and Responsibilities: In seeking to best serve local governments, the Legislature established the Oregon Short Term Fund Board. The purpose of the board is to advise the state treasurer and the Oregon Investment Council in the management and investments of the Oregon Short Term Fund and the Local Government Investment Pool. The treasurer serves as an ex officio member and appoints three members to the board. The governor appoints the remaining three members.

 

Investment Division
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4000
Contact: John Skjervem, Chief Investment Officer


Duties and Responsibilities: The Investment Division manages the financial and real asset portfolios comprised by the Public Employees Retirement Fund, State Accident Insurance Fund, Oregon Short Term Fund, Common School Fund and numerous other state and agency accounts. On June 30, 2014, the combined market value of these funds totaled $89 billion which included a $70 billion balance for the Public Employees Retirement Fund, the largest fund under division management. These funds each have unique risk/return profiles and are broadly diversified across asset class, geography and investment strategy. The division also manages the investment program for the state’s deferred compensation plan, serves as staff for the Oregon Investment Council and strives to save taxpayers money by meeting each fund’s specific investment objective at the lowest possible net cost.

Investment Council
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4000
Contact: John Skjervem, Chief Investment Officer
Statutory Authority: ORS 293.706


Duties and Responsibilities: The Oregon Investment Council has responsibility for all state investment funds and discharges its responsibilities consistent with state law and governing fiduciary standards. The state treasurer and director of the Public Employee Retirement System are ex officio council members, and the governor appoints an additional four council members whose service is subject to Senate confirmation. The council approves policy guidelines for all state investment activities but delegates day-to-day management authority to the State Treasury Investment Division.


Other Entities

 

Oregon 529 College Savings Network
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-373-1903
Web: www.oregon529network.com
Contact: Michael Parker, Executive Director
Statutory Authority: ORS 348.841


Duties and Responsibilities: The Oregon 529 College Savings Network was created to increase the ability of Oregonians to save for future higher education expenses. It is a unique investment tool that provides state and federal tax advantages and more flexibility than many other college savings vehicles.


Oregon currently offers two 529 plans: the Oregon College Savings Plan, which is the state’s flagship plan sold directly to investors, and the MFS 529 Savings Plan. The MFS plan is sold exclusively through financial advisors. Both plans operate independently of each other but are governed by the same state and federal laws. Each Oregon plan is comprised of a specific set of investment options, and each has its own unique features that offer participants a variety of choices and contribution options.


Both of the Oregon plans are administered by the Oregon 529 College Savings Board, which is staffed by the Office of the State Treasurer. Both plans are qualified under Section 529 of the federal Internal Revenue Code.

 

Information Services Division
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-3436
Contact: Nancy O’Halloran, Chief Information Officer


Duties and Responsibilities: The Information Services Division provides enterprise-level information technology across the Office of the State Treasurer divisions, programs and business units, in support of state treasurer’s mission.

 

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