Board of Canvassers
The State Treasurer serves on the State Board of Canvassers. The State Board of Canvassers is comprised of the Secretary of State, the State Controller and the State Treasurer. The Board meets within fifteen days after the primary election and within fifteen days after the general election in the office of the Secretary of State for the purpose of canvassing the abstracts of votes cast for all candidates for federal, state and district offices. After canvassing the abstract votes, the Board issues a statement with the names of the candidates, the number of votes cast for each candidate, the total number of all votes cast for all federal, state and district candidates and the total number of affirmative and negative votes cast for any special question by county. This statement is signed by all members and presented to the Secretary of State.
Idaho Bond Bank Board
The State Treasurer, or his designee, serves as chairman of the Idaho Bond Bank Authority. The Authority is an instrumentality of the state within the State Treasurer’s office but has a legal existence independent of and separate from the state. The authority has five members which include the State Treasurer, one appointee from the House of Representatives, one appointee from the Senate and two members appointed at large by the Governor. The Idaho Bond Bank serves to develop, implement and approve the issuance of low-cost financing options to local municipalities in Idaho. The Bond Bank combines the bonds issued by multiple local municipalities into a single large tax-exempt bond and then sells that bond in the national municipal bond market. With a high investment grade (Aa1) from Moody’s Investor Service and with economies of scale, the Bond Bank is able to obtain lower interest rates than most local government entities can obtain independently.
State College Savings Program Board
The State Treasurer, or his designee, serves as chairman of the College Savings Program Board. This board is responsible for the development and implementation of a college savings program in a manner that is consistent with Idaho Code Chapter 54. The Board has the authority to decide on items such as the procurement of program administrator and selection of depository manager of the program. Quarterly, the Board approves rules, guidelines and procedures that provide changes to the program which are required for participants to benefit from federal and state tax benefits and are consistent with the code. Additionally, the Board reviews and approves the program investment asset allocations and the investment option performance.
State Treasurer Investment Advisory Board
The State Treasurer serves as chairman of the Investment Advisory Board. The primary duties of the TIAB are to evaluate and recommend the types and kinds of investments the State Treasurer or an investment manager would utilize to manage idle funds and such other funds the treasurer is authorized to invest pursuant to Sections 67-1210 and 67-1210A Idaho Code, as well as review and recommend investment policies relating to these funds.
Idaho Credit Rating Enhancement Committee
The State Treasurer, or his designee, serves as Chairman of the Idaho Credit Rating Enhancement Committee. Other members of the committee include the Administrator of the Division of Financial Management, one Senator appointed by the President Pro Tempore of the Senate, one member of the House of Representatives appointed by the Speaker of the House of Representatives. Other members of the committee shall be appointed by the Governor after considering recommendations of the State Treasurer and shall be from the following entities knowledgeable on matters of public finance including but not limited to, the Idaho State Bond Bank Authority, Idaho Housing and Finance Association, Idaho State Building Authority, the Department of Education as a representative of the School Bond Guarantee Program and one member at large. The Idaho Credit Rating Enhancement Committee serves to advise the Governor and the Legislature regarding policies and actions that enhance and preserve the State’s credit rating and maintain the future availability of low cost capital financing.
Commemorative Silver Medallion Committee
The State Treasurer serves on the Idaho Commemorative Silver Medallion Committee comprised of representatives appointed by the Speaker of the House of Representatives and senators appointed by the President Pro Tempore of the Senate. The purpose of the committee is to issue Commemorative Silver Medallions, available for sale to the public, to honor the courage and sacrifice of all Idaho servicemen and veterans of the United States armed forces and Idaho military branches of the armed services. The Committee determines the number of medallions to be issued and approves the design of each series of medallions. All monies collected from the sale of medallions are paid into the State Veterans Cemetery Maintenance fund.