The Public Finance Division administers programs that carry out the fiduciary responsibilities of the State Treasurer. Division responsibilities include:
- Issue State of California general obligation bonds, revenue anticipation notes and certain revenue bonds.
- Assure compliance with federal tax laws applicable to State debt.
- Manage the State's overall debt portfolio.
- Administer the State's Investor Relations Program.
- Serve as the State's liaison to the rating agencies.
The sections that make up the Public Finance Division are:
Conduit Financing and Investor Relations Section
- Perform agent for sale functions for conduit and other state bond financings.
- Disseminate financial information to the investment community.
- Provide on-going communication with investors.
- Research and respond to inquiries from investors.
Debt Issuance Section
- Perform agent for sale for State of California general obligation, lease revenue and other General Fund supported debt.
- Perform trustee functions for certain general fund supported variable rate debt.
Interim Finance Section
- Arrange short-term financing for projects through the use of commercial paper and loans from the Pooled Money Investment Account.
- Develop and maintain the arbitrage and tracking systems for general obligation and State Public Works Board and other General Fund supported debt.
- Provide budgetary and accounting information for bond sales and debt service.
- Perform trustee functions for over $60 billion of State of California general obligation bonds and revenue bonds.