Treasurer Mandel Presents Budget to Senate Finance Committee
COLUMBUS – State Treasurer of Ohio Josh Mandel presented the Treasurer’s office budget today before the Senate Finance Committee. The budget proposed by the Treasurer would reduce general revenue fund operating expenses by 6.5%.
“This budget will allow the Treasurer’s office to carry out our core responsibilities of protecting and investing taxpayer dollars, and to expand on financial education, economic development and other priorities. As part of a top-bottom review of the Treasury we have begun to streamline operations, modernize banking practices and increase efficiencies. My proposed budget reduces the office’s general revenue fund operating expenses by 6.5%,” said Treasurer Mandel. “This budget also includes important reforms that seek to increase participation in our linked deposit programs among lending partners so that more small businesses and individuals can benefit from these loans.”
The Treasurer expanded on some of the ways that the office is working toward improving operations, including:
• Modernizing banking practices and utilizing electronic banking for check deposits;
• Investing in financial software upgrades to heighten security, automate compliance reviews, and eliminate manual data entry;
• Increasing financial literacy and online learning opportunities to improve accessibility; and
• Promoting linked deposit programs to make more capital available to small businesses seeking to grow jobs in Ohio.
Please visit www.OhioTreasurer.gov for more information on the Ohio Treasury.