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Treasurer Seeks FTEs and IT for Cash Management; Unclaimed Property, CO2 Payments and Transparency Bills Could Change Costs
Summary
State Treasurer Thomas Beadle told the House Appropriations Government Operations Division that his office—s budget largely matches the Armstrong executive recommendation but that Armstrong removed several proposed FTEs and cash‑management investments the administration had previously included.
State Treasurer Thomas Beadle appeared before the House Appropriations Government Operations Division to review the Treasurer—s Office portion of the governor—s budget and to identify pending legislation that could affect the office—s workload and fiscal needs.
Beadle said Governor Armstrong—s recommendation closely tracked the Treasurer—s request on base pay adjustments and IT projects but removed a number of new FTEs and cash‑management items that the Burgum administration had proposed. The Treasurer—s office asked the committee to note several items that would still require funding or coordination if related bills pass, including a cash‑management steering committee proposal (House Bill 1278), possible incoming unclaimed property staff transfers, software and startup costs for a statewide cash‑management tool, and payments in lieu for certain CO2 pipeline projects.
Why it matters: the Treasurer—s office oversees short‑term management of large cash balances and several special funds; changes in statutory obligations or new state requirements for transparency and cash coordination could require new staff, software and one‑time conversion costs, or produce fiscal offsets to other agencies.
Unclaimed property: Beadle told the committee that four unclaimed property FTEs currently housed at the Department of Trust Lands (historically funded from unclaimed property earnings) had been proposed for transfer into the Treasurer—s office in a prior budget. Armstrong—s executive recommendation did not transfer them; Beadle said the departments had not taken a position that made the transfer necessary, and noted the positions remain in the Land Department budget unless the committee directs otherwise. The Treasurer noted those staff and the related vault remodeling would be funded from special‑fund earnings if moved.
Cash management and software: Beadle and staff described a prior interim cash‑management study and an associated legislative proposal (HB 1278) that would create a multi‑agency steering committee (Treasurer, OMB, BND and legislators) to set cash‑management policy and coordinate sweeps and short‑term investment. The Treasurer—s request included a one‑time estimate of $400,000 for software/setup and $100,000 annually for ongoing subscription or maintenance costs; the Armstrong budget removed those items. Beadle said the $500,000 estimate was a ballpark figure based on prior vendor responses and OMB suggestions and that a formal procurement would refine costs.
CO2 payments and other statutory disbursements: The Treasurer flagged a statutory requirement to pay certain counties payments in lieu of taxes for qualifying CO2 projects. That payment stream (the office used a $2 million estimate for planning) depends on tax department certifications and the pipeline projects that qualify. The committee discussed recent and prospective CO2 projects in Bowman, Slope and other counties; Beadle said if the obligation is certified, the Treasurer—s office must make the payments.
Transparency and other bills: Beadle also identified pending bills with potential fiscal impacts: HB 1183 (a study and possible requirement re: investing minimums in gold and silver, for which the Treasurer asked for $50,000 to fund an independent study), HB 1329 (a government spending database that would require IT development if the Treasurer—s office is assigned responsibilities), HB 1620 (another fiscal transparency portal), and HB 2208 (a prairie dog fund provision with potential administrative checks). He told the committee the Office would coordinate with OMB and other agencies where data is already available on OMB—s transparency portal and work with ITD to embed or present linked data if asked.
Ending: Committee members indicated they would review the long worksheet and follow up; Representative LaFoure—s cash‑management bill and other measures could bring additional fiscal notes to the committee if they advance, Beadle said. The Treasurer agreed to return with updated details and copies of relevant studies and procurement estimates.
