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State treasurer reports PTIF growth, flags HB 10 costs for gold holdings and outlines unclaimed property workload
Summary
Treasurer outlined growth in the Public Treasurers Investment Fund (~$37.5B), requested additional appropriation to augment investment-management capacity, highlighted a structural issue from HB 10 affecting vaulting/insurance costs for precious-metal holdings, and said unclaimed-property receipts and fraud risk are rising, prompting IT and process upgrades.
State Treasurer Marlo Oakes briefed the committee on treasury functions, investment results and management challenges, saying the Public Treasurers Investment Fund (PTIF) stands at about $37.5 billion and generated substantial earnings that benefit state and local entities. Oakes said the state generated roughly $191.9 million for the general fund in FY2025 from investment activity.
Oakes requested an ongoing appropriation (funded from PTIF management…
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