• Modernizing technology to secure the Treasury’s critical financial data in line with best practices.
• Seeking the best benefits with the lowest possible fees for the state’s deferred compensation plans.
In addition to addressing these challenges, the key initiatives of the Treasury for the upcoming year include:
• Engaging an independent investment advisor with expertise in government and public finance to assist the Cash Management Policy Board and the Treasury in improving the state’s investment portfolio.
• Expanding the Delaware Money in Delaware Banks initiative to include deposits in local credit unions.
• Using prepaid debit cards to continue the annual reduction in the number of checks issued by the state.
• Expanding financial education and outreach programs.
• Working with other state officials to include the purchase of warrants from recipients of state economic development grants, thus increasing the state’s return on its investments.
“Although the past year has been filled with significant achievements, we must continue to work hard and propose creative solutions to emerging challenges in our service to the people of Delaware in this competitive 21st century global economy. It is the goal of our team for the Delaware State Treasury to serve as the ‘financial idea center’ for our state government,” Flowers said.