Public Finance Division

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 $30 billion of State of California general obligation bonds and revenue bonds.