The Investments and Cash Management Division is responsible for the oversight, management, and investment of all general and special funds of the State of Mississippi and various state agencies. The division performs a variety of financial transactions related to the receipt, transfer, and investment of state funds, all with an eye toward safety, liquidity, and return. On a daily basis, the division determines immediate cash flow needs and invests excess state funds in accordance with state statute.
Qualified State Depositories Overview
Annually, banking and savings and loan institutions operating in Mississippi are given the opportunity to apply to become qualified state depositories. The institutions apply by completing the required forms and contract and submitting them to the Office of the State Treasurer. Each institution’s call or quarterly report, listed on the FDIC website, is evaluated to determine if the institution meets the minimum qualifications. Each institution must demonstrate that their primary capital-to-total assets ratio equals or exceeds five and one-half percent (5 ½%). When the Treasurer grants approval, a commission is prepared and sent to the qualified depositories. Commissions are valid for the 12 months beginning December 1st through November 30th of each year.