State Board of Finance approves employee qualifications, names compliance officer and adopts drug formulary changes

The State Board of Finance voted to approve minimum employee qualifications for positions that handle state treasury funds, appointed Michael Harry as chief compliance officer and adopted updates to pharmacy and medical drug formularies during a brief meeting that also approved a three‑year contract with Catalyze Health.

Treasurer Larry Walther introduced the qualifications slate for fiscal year 2025, saying the listed positions “handle treasury funds or participate in decisions concerning the deposit of investments of state treasury funds” and that the list had been vetted by the Department of Finance and Administration and the treasurer’s office. He noted highlighted names on the list are employees for Treasurer‑elect John Thurston and that Kathy Williams remains the current fiscal division director.

Board members clarified timing for the standards. A board member proposed making the qualifications effective immediately for the remainder of calendar year 2024 and continuing through calendar year 2025…