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Treasury seeks $50,000 for new public‑deposit reporting system as Microsoft Access is phased out
Summary
Treasury officials told the committee an obsolete Microsoft Access database underpins public‑deposit collateral reporting for 72 depositories; they requested a one‑time $50,000 software development investment so banks can submit collateral updates electronically and staff can reduce manual error and lag time.
State Treasury officials asked the Joint Appropriations Committee for a one‑time appropriation of $50,000 to build a new public‑deposit reporting system after the Bureau of Information and Telecommunication (BIT) advised that Microsoft Access-based tools will be unsupported after 2026.
Deputy Treasurer Jason Williams and treasury services manager Melissa Hall described the current process: banks email or fax collateralization data, a single treasury staff member manually updates a Microsoft Access file, and staff then confirm entries with phone calls or emails. The office said the manual workflow produces errors and delays; the database holds collateral records for 72 qualified public depositories and is “cumbersome.”
Treasury proposed a web‑based software‑as‑a‑service (SaaS) solution hosted by BIT that would allow bank users to sign in, electronically submit collateral changes and quarterly liability reports, and let treasury staff electronically review and approve updates. The new system would reduce manual entry, improve reconciliation for banks and provide immediate access to collateral records.
Treasury noted the governor’s proposed budget included $5,000 in ongoing funds to maintain a future system but did not include the $50,000 initial development cost; the treasurer asked the committee to consider the one‑time funding.
Committee members asked whether the current Access system would stop working or merely become unsupported. Treasury staff said the software might continue to run like an old phone but would be increasingly inefficient and would become obsolete; BIT’s guidance motivated the request. Members also asked whether Excel could serve as a replacement; treasury staff said Excel lacks database relationships, robust security and scale for the volume of data and concurrent users.
Treasury said the modernized system would improve timeliness of collateral reporting, reduce staff workload and give depository institutions instant access to their pledges, easing reconciliation and reducing risk. No formal committee decision was made during the hearing.
