OST collects and disburses State Treasury and Treasurer's Trust dollars and provides banking services for the state of Washington.
OST manages the bank account for the State Treasury and Treasurer's Trust funds while maximizing investment opportunities. Every day, the Cash Management team:
- Manages money collected by authorized state agencies in the state’s bank of record.
- Calculates anticipated cash flows and coordinates with OST's Investment Division to forecast revenue and maximize investment returns.
- Maintains a merchant services contract with a bank that provides state agencies with services related to the acceptance of credit and debit cards.
- Manages the printing and release of most warrants (i.e., checks) as directed by state agencies for payments to vendors and other payees.
- Maintains the records of all warrants that bear the signature of the State Treasurer and authorizes payment for warrants presented from the state’s bank account.
OST provides cash management for state agencies within the Treasury and Treasurer's Trust funds. By law, notable exceptions include Washington's Lottery, Employment Securities Department (ESD), the Department of Social and Health Services (DSHS), and certain University and College accounts.
For additional information please contact our office.