http://tos.ohio.gov Description Goes Here Copyright Info Goes Here /Events/25 2011-06-17T14:25:29.653 Treasurer Mandel Presents the "Real Money, Real World" Simulation   Treasurer Mandel Presents the “Real Money, Real World” Simulation to Promote Financial Literacy at Shaw High   EAST CLEVELAND – State Treasurer of Ohio Josh Mandel’s office provided a “Real Money, Real World” workshop today at Shaw High School in East Cleveland as part of a statewide effort to increase student financial literacy.  The Real Money, Real World interactive budget simulation is part of the Treasurer’s presentation at the Smart Money Matters event, and is intended to increase students’ awareness of the impacts of financial choices on home budgeting.  This event is part of the Treasurer’s continued efforts to bring awareness to financial education during National Financial Literacy Month.   “It’s very important to teach students skills like balancing their checkbook and living on a tight budget while they’re in high school to help keep them out of financial trouble when they become young adults,” said Treasurer Mandel.  “Less than half of teens report that they discuss money management with their family, and a similar amount say they don’t know how to manage a credit card.  The Real Money, Real World simulation forces students to make realistic decisions and set priorities in order to live within their means.  This exercise is part of a broader effort to give young Ohioans a more solid financial foundation to build on as they graduate and go on to college or start their working careers.”   As part of the Real Money, Real World budget simulation, students are given a fixed income, and are dealt financial obligations.  They are then asked to budget for such expenses as: child care, clothing, communications, entertainment, food, housing, insurance, student loans, transportation, utilities, etc.  Their spending and expenses must meet their income, often requiring tough decisions and encouraging thoughtful discussion on priorities.   Ohio Senate Bill 311, passed in 2007, requires financial literacy to be taught as part of the Ohio Core Education Standards.  The law requires schools to integrate the study of economics and financial literacy into one or more existing social studies credits or into the content of another class so that every high school student receives instruction in these concepts. The law requires that financial education be integrated into the curriculum for all students beginning with the class of 2014.   “This simulation is just one example of the ways that my office is seeking to expand access to financial literacy for students and all Ohioans,” said Treasurer Mandel.  “We are also working to add more online resources and content for students and teachers to help them fulfill their  educational requirements and be better prepared for future success after high school.”   Smart Money Matters is a collaboration between the Ohio Treasury, PNC Bank, Third Federal Savings and Loan, the U.S. Department of Housing and Urban Development and the Ohio Realtist Association.   ####   /Events/26 2011-08-16T13:59:55.067 The August State Board of Deposit Meeting The State Board of Deposit meeting will take place on August 25, 2011 at 10:00 am in the State Treasurer's office      The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/33 2011-08-23T15:19:02.68 Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of the Treasurer’s Office commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. The event includes an opening session, panel discussion, four breakout sessions taught by financial planning experts, and a closing session. This is an all day conference presented from 8:00 am – 4:00 pm. Courses that will be offered during the day are Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security. Holiday Inn Conference Center - Boardman 7410 South Avenue Boardman, OH 44512  Click here for the Pre-Registration /Events/35 2011-08-31T15:16:35.987 The Center for Public Investment Management (CPIM) Academy provides public funds managers the ability to select courses about Investments, Cash Management, Finance, and Ethics. The course offerings are structured to meet the various levels of educational and experience of Ohio’s public funds managers. The course numbering series of 100 to 400 is patterned after the traditional collegiate structure; 100-level courses are designed to address fundamentals and the 400-level classes are more advanced. What: Full day conference Where: Columbus State Community College, Center for Workforce Development When:  September 14, 2011 /Events/36 2011-08-16T13:53:32.35 The Center for Public Investment Management (CPIM) Academy provides public funds managers the ability to select courses about Investments, Cash Management, Finance, and Ethics. The course offerings are structured to meet the various levels of educational and experience of Ohio’s public funds managers. The course numbering series of 100 to 400 is patterned after the traditional collegiate structure; 100-level courses are designed to address fundamentals and the 400-level classes are more advanced. What: Full day conference Where: University of Akron, Student Union When:  October 5, 2011 /Events/37 2012-01-24T16:34:34.867 ** NOTICE ** August 25, 2011 10:00 A.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Fl, Conference Rm B Columbus, Ohio 43215 BOARD OF DEPOSIT August 25, 2011 AGENDA 1. Call to order 2. Approve or amend minutes from July 28, 2011 meeting 3. Sign approved minutes 4. Old Business 5. New Business • Economic Outlook • Investment Activity • Other Business 6.       Ratification of the Designation by the Treasurer of State of $3,215,194,183.89 as Interim Funds 7.   Certification and Approval of Board Expenses 8. Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/38 2011-10-12T16:43:19.54 The September State Board of Deposit Meeting The State Board of Deposit meeting will take place on September 29, 2011 at 10:00 am in the State Treasurer's office      The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/39 2011-10-12T16:53:04.323 The October State Board of Deposit Meeting The State Board of Deposit meeting will take place on October 27, 2011 at 10:00 am in the State Treasurer's office      The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/40 2011-11-01T09:01:36.317 The November State Board of Deposit Meeting The State Board of Deposit meeting will take place on November 29, 2011 at 10:00 am in the State Treasurer's office      The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/41 2011-11-30T11:35:55.377 The December State Board of Deposit Meeting The State Board of Deposit meeting will take place on December 22, 2011 at 10:00 am in the State Treasurer's office      The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/42 2012-01-24T16:35:01.54 ** NOTICE ** October 27, 2011 10:00 A.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Fl, Conference Rm B Columbus, Ohio 43215 BOARD OF DEPOSIT October 27, 2011 AGENDA   1. Call to order 2. Approve or amend minutes from September 29, 2011 meeting 3. Sign approved minutes 4. Old Business 5. New Business   • Investment Activity • Other Business 6.        Ratification of the Designation by the Treasurer of State of $4,412,477,061.60            as Interim Funds 7.      Certification and Approval of Board Expenses 8. Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/43 2012-01-24T16:35:24.567 ** NOTICE ** October 27, 2011 10:00 A.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Fl, Conference Rm B Columbus, Ohio 43215 BOARD OF DEPOSIT October 27, 2011 AGENDA   1. Call to order 2. Approve or amend minutes from September 29, 2011 meeting 3. Sign approved minutes 4. Old Business 5. New Business   • Investment Activity • Other Business 6.        Ratification of the Designation by the Treasurer of State of $4,412,477,061.60 as Interim Funds 7.      Certification and Approval of Board Expenses 8. Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/44 2012-01-24T16:35:47.42 ** NOTICE ** November 29, 2011 10:00 A.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Fl, Conference Rm B Columbus, Ohio 43215 BOARD OF DEPOSIT November 29, 2011                                  AGENDA 1. Call to order 2. Approve or amend minutes from October 27, 2011 meeting 3. Sign approved minutes 4. Old Business 5. New Business • Economic Outlook • Investment Activity • Other Business 6.        Ratification of the Designation by the Treasurer of State of $4,000,670,896.36 as Interim Funds 7.     Certification and Approval of Board Expenses 8. Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/45 2012-01-24T16:36:08.23 ** NOTICE ** December 22, 2011 10:00 A.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Fl, Conference Rm B Columbus, Ohio 43215 BOARD OF DEPOSIT December 22, 2011                                  AGENDA 1. Call to order 2. Approve or amend minutes from November 29, 2011 meeting 3. Sign approved minutes 4. Old Business 5. New Business 6.      Ratification of the Designation by the Treasurer of State of $3,009,248,559.97 as Interim Funds 7. Certification and Approval of Board Expenses 8. Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/46 2012-01-24T16:38:27.68 The January State Board of Deposit Meeting The State Board of Deposit meeting will take place on January 26, 2012 at 10:00 am in the State Treasurer's office.       The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/47 2012-01-06T15:30:26.02 On January 23, 2012, State Treasurer of Ohio Josh Mandel will release on OhioTreasurer.gov a Request for Proposal (“RFP”) for the award of active deposits of the public moneys of the State of Ohio for a period of two years commencing on July 2, 2012 (“Designation Period”).  Responses to the RFP shall be received in the Treasurer’s office no later than 3:00 PM on February 27, 2012.  On March 19, 2012, the Board of Deposit will award active deposits for the Designation Period. To hold active or interim deposits during the Designation Period, a financial institution must apply or renew its eligibility as a depository of public funds for the Designation Period.  An application to serve as a public depository for active and interim deposits must be received by the Treasurer’s office by February 27, 2012.  Any application received after that date will be considered only for interim deposits.  All applications are to be in accordance with Ohio Revised Code Chapter 135 and submitted to Josh Mandel, Chairman, Ohio Board of Deposit, 30 East Broad Street, 9th Floor, Columbus, Ohio 43215-3461. On January 23, 2012, the Application/Agreement to Serve as Depository of Public Funds will be available on this website.  /Events/48 2012-01-06T15:19:47.887 On January 23, 2012, State Treasurer of Ohio Josh Mandel will release on OhioTreasurer.gov a Request for Proposal (“RFP”) for domestic custody services and a Request for Information (“RFI”) for international custody services, for assets which under Ohio law are in the custody of the Treasurer, for a period of two years commencing on July 2, 2012.  Responses to the RFP and RFI shall be received in the Treasurer’s office no later than 3:00 PM on February 27, 2012.  The designation of domestic custody services and international custody services will be made on March 19, 2012. /Events/49 2012-01-24T16:48:21.48 ** NOTICE ** January 26, 2012 10:00 A.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Fl, Conference Rm B Columbus, Ohio 43215 BOARD OF DEPOSIT January 26, 2012 AGENDA 1. Call to order 2. Approve or amend minutes from December 22, 2011 meeting 3. Sign approved minutes 4. Old Business 5. New Business 6.      Ratification of the Designation by the Treasurer of State of $3,250,579,346.73 as Interim Funds 7. Certification and Approval of Board Expenses 8. Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/50 2012-02-06T15:03:17.29 The February State Board of Deposit Meeting The State Board of Deposit meeting will take place on February 23, 2012 at 10:00 am in the State Treasurer's office.       The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/51 2012-02-21T15:55:18.577 ** NOTICE ** February 23, 2012 10:00 A.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Fl, Conference Rm B Columbus, Ohio 43215 BOARD OF DEPOSIT February 23, 2012 AGENDA 1. Call to order 2. Approve or amend minutes from January 26, 2012 meeting 3. Sign approved minutes 4. Old Business 5. New Business 6.     Ratification of the Designation by the Treasurer of State of $3,254,668,488.53 as Interim Funds 7.  Certification and Approval of Board Expenses 8.  Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/52 2012-03-16T14:52:39.173 The March State Board of Deposit Meeting The State Board of Deposit meeting will take place on March 19, 2012 at 3:30 pm in the State Treasurer's office. Click here for the notice The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/53 2012-03-16T15:05:42.917 v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} ** NOTICE ** March 19, 2012  3:30 P.M. STATE TREASURER’S OFFICE 30 East Broad St., 9th Floor Columbus, Ohio 43215 BOARD OF DEPOSIT March 19, 2012 AGENDA  1.   Call to order  2.   Approve or amend minutes from February 23, 2012 meeting  3.   Sign approved minutes  4.   Old Business  5.   New Business [Biennial Bank Designation]  6.   Ratification of the Designation by the Treasurer of State of $3,207,849,360.40 as Interim Funds  7.   Certification and Approval of Board Expenses  8.   Adjournment Pursuant to O.A.C 135-1-01(C), the State Treasurer’s Office will maintain a list of news media representatives who have, in writing, requested notice of special meetings of the board of deposit. Such written request shall list the media representative’s contact information and e-mail address. Such requests should be directed to Seth Unger at (614) 466-2160. /Events/54 2012-03-21T10:56:50.59 The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise. The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics. The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/55 2012-05-29T11:18:16.29 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise. The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics. The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/56 2012-07-02T09:51:09.783 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise. The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics. The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/57 2012-08-13T10:56:27.893 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise. The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics. The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/58 2012-08-13T10:56:39.017 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise. The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics. The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/59 2012-08-13T10:56:47.253 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise. The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics. The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/61 2012-04-25T16:00:59.37 The April State Board of Deposit Meeting The State Board of Deposit meeting will take place on April 26, 2012 at 4:45 pm in the State Treasurer's office. Click here for the notice The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/62 2012-05-25T08:36:04.977 The State Board of Deposit meeting will take place on May 25, 2012 at 10:45 am in the State Treasurer's office. Click here for the notice The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/63 2012-05-29T11:12:36.037 Smart Money Choices is a free half-day personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of Treasurer Mandel's commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. Holiday Inn Dayton/Fairborn 2800 Presidential Drive Fairborn, Ohio 45326 REGISTER The event includes an opening session and three breakout sessions taught by financial planning experts. This half-day conference is presented from 8:00 am – 12:15 pm. (Registration opens 7:30 am). Courses that will be offered during the day are Budgeting, Credit & Debt Management, Estate Planning, Consumer Scams, Investments, NEW Student Funding & Debt Management, Retirement Planning and Social Security. /Events/64 2012-05-29T11:14:04.677 Smart Money Choices is a free half-day personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of Treasurer Mandel's commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. Holiday Inn Independence 6001 Rockside Road Independence, OH 44131 REGISTER The event includes an opening session and three breakout sessions taught by financial planning experts. This half-day conference is presented from 8:00 am – 12:15 pm. (Registration opens 7:30 am). Courses that will be offered during the day are Budgeting, Credit & Debt Management, Estate Planning, Consumer Scams, Investments, NEW Student Funding & Debt Management, Retirement Planning and Social Security. /Events/65 2012-06-21T11:00:16.39 Smart Money Choices is a free half-day personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of Treasurer Mandel's commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. UC Blue Ash 9555 Plainfield Rd Blue Ash, OH 45236 REGISTER The event includes an opening session and three breakout sessions taught by financial planning experts. This half-day conference is presented from 8:00 am – 12:15 pm. (Registration opens 7:30 am). Courses that will be offered during the day are Budgeting, Credit & Debt Management, Estate Planning, Consumer Scams, Investments, NEW Student Funding & Debt Management, Retirement Planning and Social Security. /Events/66 2012-06-14T10:00:44.257 ***  Public  Meeting  Notice -- REVISED   *** TO:  Members of the Buckeye Tobacco Settlement Financing Authority and their designees John R. Kasich, Governor     Mike Grodhaus Josh Mandel, Treasurer of State    Seth Metcalf          FROM: Timothy S. Keen, Secretary, Buckeye Tobacco Settlement Financing Authority SUBJECT: Meeting on Friday, June 15, 2012, at 11:30 a.m. in Conference Room A of the Office of Budget and Management (35th Floor, Rhodes State Office Tower) Pursuant to the Bylaws of the Buckeye Tobacco Settlement Financing Authority, I am notifying you of the meeting of the Authority to be held on Friday, June 15, 2012, commencing at 11:30 a.m. in Conference Room A of the Office of Budget and Management (35th Floor, Rhodes State Office Tower, 30 East Broad Street, Columbus, Ohio).  Staff will present an overview of the Authority’s fiscal year 2011 audit results, its fiscal year 2012 and proposed fiscal year 2013 operating budgets, and the status of tobacco settlement receipts and debt service payments for calendar year 2012. The Treasurer of State’s office will present information regarding planned investments for the Senior Liquidity Reserve Account.      Enclosed are a meeting agenda, the June 9, 2011 meeting minutes, copies of the fiscal year 2011 audited financial statements, and the operating budget for fiscal years 2012 and 2013, all as referred to in that agenda. Click here for the meeting agenda If you or members of your staff have any questions, please contact me or Kurt Kauffman of my staff at 466-0691. cc. Mike DeWine, Attorney General   Dana Wasserman, Deputy Director of Debt Management Office, Treasurer of State   Larry Scurlock, Assistant Debt Manager, Office of Budget and Management   /Events/67 2012-06-21T10:59:30.29 The State Board of Deposit meeting will take place on June 22, 2012 at 1:00 PM in the State Treasurer's office. Click here for the notice The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/68 2012-07-02T11:51:33.393 Smart Money Choices is a free half-day personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of Treasurer Mandel's commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. Holiday Inn West 4073 Medina Rd Akron, OH 44333 REGISTER The event includes an opening session and three breakout sessions taught by financial planning experts. This half-day conference is presented from 8:00 am – 12:15 pm. (Registration opens 7:30 am). Courses that will be offered during the day are Budgeting, Credit & Debt Management, Estate Planning, Consumer Scams, Investments, NEW Student Funding & Debt Management, Retirement Planning and Social Security. /Events/69 2012-07-27T11:31:32.88 Smart Money Choices is a free half-day personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of Treasurer Mandel's commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. Worthington Holiday Inn 7007 N High St. Worthington, OH 43085 REGISTER The event includes an opening session and three breakout sessions taught by financial planning experts. This half-day conference is presented from 8:00 am – 12:15 pm. (Registration opens 7:30 am). Courses that will be offered during the day are Budgeting, Credit & Debt Management, Estate Planning, Consumer Scams, Investments, NEW Student Funding & Debt Management, Retirement Planning and Social Security. /Events/70 2012-08-01T12:15:12.437 Smart Money Choices is a free half-day personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of Treasurer Mandel's commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. Owens Community College 30335 Oregon Rd Perrysburg, OH 43551 REGISTER The event includes an opening session and three breakout sessions taught by financial planning experts. This half-day conference is presented from 8:00 am – 12:15 pm. (Registration opens 7:30 am). Courses that will be offered during the day are Budgeting, Credit & Debt Management, Estate Planning, Consumer Scams, Investments, NEW Student Funding & Debt Management, Retirement Planning and Social Security. /Events/71 2012-08-01T12:15:40.16 Smart Money Choices is a free half-day personal financial-planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.  The conferences are part of Treasurer Mandel's commitment to provide Ohioans with the knowledge they need to make more informed personal finance decisions. Mahoning County Career & Technical Center 7300 North Palmyra Road Canfield, OH 44406 REGISTER The event includes an opening session and three breakout sessions taught by financial planning experts. This half-day conference is presented from 8:00 am – 12:15 pm. (Registration opens 7:30 am). Courses that will be offered during the day are Budgeting, Credit & Debt Management, Estate Planning, Consumer Scams, Investments, NEW Student Funding & Debt Management, Retirement Planning and Social Security. /Events/72 2012-07-27T11:30:38.013 The State Board of Deposit meeting will take place on July 30, 2012 at 11:15 AM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/73 2012-08-22T15:35:47.383 The State Board of Deposit meeting will take place on August 24, 2012 at 8:30 AM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/74 2012-09-26T16:47:04.357 The State Board of Deposit meeting will take place on September 28, 2012 at 2:00 PM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/75 2012-10-23T11:33:10.35 The State Board of Deposit meeting will take place on October 24, 2012 at 4:30 PM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/76 2012-11-26T14:56:10.267 The State Board of Deposit meeting will take place on November 27, 2012 at 4:45 PM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/77 2012-12-19T10:20:58.273 The State Board of Deposit meeting will take place on December 20, 2012 at 1:30 PM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/78 2013-01-30T08:49:13.44 The State Board of Deposit meeting will take place on January 31, 2013 at  10:00 AM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/79 2013-02-26T12:25:07.957 The State Board of Deposit meeting will take place on February 27, 2013 at  2:45 PM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/80 2013-03-15T12:04:28.46 The State Board of Deposit meeting will take place on March 18, 2013 at  2:45 PM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/81 2013-04-29T08:50:17.127 The State Board of Deposit meeting will take place on April 30, 2013 at  11:00 AM in the State Treasurer's office. Click here for meeting notice The State Board of Deposit (BOD) is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /Events/82 2013-05-10T11:22:04.513 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise.  The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics.  The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/83 2013-05-10T11:21:55.92 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise.  The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics.  The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/84 2013-05-10T11:21:44.093 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise.  The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics.  The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/85 2013-05-10T11:21:34.127 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise.  The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics.  The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /Events/86 2013-05-10T11:21:16.513 The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise.  The goal, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics.  The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). /News/3 2011-05-18T00:00:00 The State Board of Deposit meeting will take place on May 26, 2011 at 10:00 am in the State Treasurer's office.                                          The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money.   Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions.   /News/4 2011-05-01T00:00:00   Treasurer Mandel Announces Teacher Academy 2011 Schedule                                                                    Innovative Partnership Offers Teachers Financial Education Resources COLUMBUS – State Treasurer of Ohio Josh Mandel today announced the 2011 schedule for the Ohio Treasury’s Teacher Academy, an innovative partnership that provides teachers with training and resources for financial education courses.  Teacher Academy is a highly successful two-day program held throughout the summer and is offered in partnership with the Ohio Department of Education and the Ohio Council on Economic Education.  View information on courses and registration here. “Teacher Academy empowers teachers with financial education resources to teach students the real-world money management skills they will need to be successful after graduation,” said Treasurer Mandel.  “This is a great partnership that offers training and personal finance materials to teachers so that school districts can include financial education in high school curriculum.” This annual program provides workshops focused on providing teachers with financial education materials and resources, along with instruction on how to engage and motivate students with an interactive curriculum.  More than 1,100 teachers have participated in these workshops since 2007.  This well-developed program utilizes public and corporate participation and support from school districts, and offers summer courses for teachers at state colleges and education centers, as well as offering online learning options .  The personal finance courses offered to teachers in 2011 include: •    Decision Making and Money; •    Career Choices and Income; •    Getting Your Money’s Worth; •    Wealth Creation and Investing; •    Protecting Yourself: Risk and Insurance; and •    Personal Finance Courses for All Grade Levels. Amended Substitute Senate Bill 311 requires Ohio schools to implement personal financial education into high school curricula, beginning in the school year of 2010 for the class of 2014.  The Teacher Academy will enable schools to offer financial education that is meaningful and compliant with the statute.  Information on Teacher Academy locations, courses and registration can be found here or please visit www.OhioTreasurer.gov for more information on the Ohio Treasury. /News/5 2011-05-01T00:00:00 Cleveland Smart Money Choices Conference Registration Opens                                                                               CLEVELAND – State Treasurer of Ohio Josh Mandel announced today that registration has opened for the Cleveland area Smart Money Choices conference, which will be held in Independence on July 8, 2011.   Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by the Treasurer’s office.  There are six Smart Money Choices conferences scheduled for 2011 that are being held in regions across the state.  Click here for more information, or to register for the Cleveland Smart Money Choices Conference. “Many Ohioans are experiencing financial uncertainty in this economy, and could benefit from access to free financial planning workshops.  Smart Money Choices conferences give attendees valuable tools to help take control of their finances, and better plan for their future,” said Treasurer Mandel.  “These seminars provide Ohioans from all walks of life with free access to qualified financial professionals and experts in their field who can provide advice on specific strategies for making smart money choices.”  Courses that will be offered during the day are Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security.  The conferences include an opening session, panel discussion, breakout sessions taught by financial planning experts, and a closing session.  Participants are encouraged to interact with presenters and ask questions.  These all day conferences are presented from 8:00 a.m. to 4:00 p.m. /News/9 2011-01-06T00:00:00 State Treasurer-elect Josh Mandel Announces Senior Staff FOR IMMEDIATE RELEASE  January 6, 2011     LYNDHURST – State Treasurer-elect Josh Mandel announced today the senior staff in his new administration.  “I have assembled a team of experienced professionals who will manage the Ohio Treasury with integrity and expertise,” Mandel said.  “My administration will protect Ohioan’s hard-earned tax dollars and work on creative ways to fuel small business growth.  In these tough economic times, government effectiveness and efficiency will be of the highest priority at the Ohio Treasury.” Bill Bishilany, Deputy Treasurer Bill Bishilany has diverse management experience, having fifteen years of service in local government and eighteen years experience as a small business owner. A seasoned local government administrator, Bishilany served as Director of Public Works for the City of Seven Hills since 2004, after previously serving on Seven Hills City Council from 1995 to 2003, including six years as Council President.  Bishilany was previously the President and owner of a small business and the Vice President and General Manager of a $45 million manufacturing company. Bishilany served as the Executive Vice President for the Greater Cleveland Suburban Council Association and as Assistant Treasurer for Parma Community General Hospital’s Board of Directors.  As an appointee of Governor Strickland in 2008, Bishilany also served on the State Emergency Response Committee.   Jennifer Day, Chief Operating Officer Jennifer Day brings more than twenty years of experience in local and state government service to the Treasurer’s office.  Day has nearly eight years of Treasury operational management experience, as she previously served in the Treasurer’s Office as the Director of Revenue Management, last serving under Treasurer Richard Cordray.  Jennifer is currently Chief of the Crime Victims Assistance & Prevention Section under Attorney General Richard Cordray.  Prior to her service in state government, Day worked as a Chief Assistant Prosecuting Attorney and Assistant Prosecutor in the Hamilton County Prosecutor’s Office.  Day, an Ohio Certified Public Manager, graduated from the University of Kentucky and received her Juris Doctor from the Chase College of Law. Seth Metcalf, General Counsel and Director of Legal and Financial Affairs Seth Metcalf left the Columbus, Ohio, office of international law firm Squire Sanders & Dempsey, L.L.P., to join the administration as General Counsel and Director of Legal and Financial Affairs.  As a member of Squire's national municipal bond practice and public finance tax group, Metcalf participated in billions of dollars of governmental financings by states, counties, cities and other governmental authorities.  Metcalf regularly presents at national conferences on federal tax matters and has served as faculty for continuing legal education courses.  Metcalf graduated from The Ohio State University, cum laude, and Cornell University Law School. Mandel was elected as Ohio’s next Treasurer of State on November 2, 2010.  With strong bi-partisan support, Mandel carried 80 of Ohio’s 88 counties and was the top vote-getter of all the statewide executive candidates.  Mandel will take office as Ohio’s 48th Treasurer of State on January 10, 2011. State Treasurer-elect Mandel will be available to the media for interviews and additional comments.  To schedule time or for further information, please contact Angela Hawkins. #### /News/13 2011-01-10T00:00:00 Watch State Treasurer Josh Mandel take the oath of office on January 10, 2011.   Click here to watch the ceremony.   /News/14 2011-01-27T00:00:00 The Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury Stacey Cumberlander.  The board, who meets on a monthly basis, designates the depositories of public money.   Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions.   Click here for January's agenda     /News/15 2011-02-23T00:00:00 The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money.   Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions.   Click here for February's agenda     /News/16 2011-02-24T00:00:00 The State Board of Deposit January Report: Economic Outlook, and Review of Investment Portfolio.                                                                    .                        Click here to view the full report   /News/17 2011-03-12T00:00:00 State Treasurer Josh Mandel Invites You to a Free Financial Literacy Fair in Mansfield   Ohio Treasurer Josh Mandel’s office would like to make you aware of a free consumer protection event in your area.                                             The National Consumer Protection Week Financial Literacy Fair will be held at Richland Mall this Saturday, March 12, 2011 from 10:00 a.m. until 2:00 p.m. Representatives of State Treasurer Mandel’s office will be attending the event and presenting information to empower Ohioans through personal finance education.   When: Saturday, March 12, 2011 10:00 a.m. – 2:00 p.m.   Where: 2209 Richland Mall Mansfield, OH 44906   What: The National Consumer Protection Week Financial Literacy Fair is presented by the Catholic Charities, Diocese of Toledo in partnership with a number of entities, including the State Treasurer’s office and the Ohio Attorney General’s office. The Treasurer’s office will present Real Money Real World, a budgeting simulation geared toward young adults. The event also includes free financial education resources for adults, including free tax preparation and the chance to meet with a HUD-certified housing counselor to determine eligibility for financial assistance towards housing mortgages. Additional topics to be presented include money management, identity theft and scams.   This event is family-friendly and open to the public. Please feel free to extend this invitation to friends, neighbors or co-workers. Questions: If you have any further questions, please contact Katie Harper, Coordinator Community Education Department at katie.harper@tos.ohio.gov   The Community Education Department Ohio Treasurer Josh Mandel’s Office   /News/18 2011-03-18T00:00:00 E-Newsletter Update from Treasurer Mandel                                                                                Ohio is facing many challenges today, with too many residents out of work, an economy trying to recover from a steep recession, and lawmakers grappling with a multibillion-dollar budget deficit. In the midst of the financial uncertainty that many families, small businesses, and local governments are facing, the Ohio Treasury remains focused on protecting taxpayer dollars and being a prudent custodian of your money.   With the Legislature in full swing and the Governor having announced his budget proposal, my office is deeply involved with the restoration of fiscal responsibility and business-friendly policies to our state. Most importantly though, we continue to run a disciplined and financially sound Treasurer’s office, and I thought you might enjoy an update on some of the many activities in my office…   Capitalizing on Low Municipal Bond Rates: My department of Debt Management is exploring ways to take advantage of the historically low municipal borrowing rates and is looking for opportunities to “re-finance” some of the more than $3 billion in outstanding principal that we manage for the taxpayers. Families are re-financing their mortgages and debt to capitalize on low rates and the state should explore these possibilities as well.   Leveraging Technology to Modernize Banking Practices: We are in the process of modernizing our financial systems to be in line with modern banking practices. For instance, instead of physically driving checks received in Columbus to a bank in Cleveland every day, as we learned has been the recent practice, we are in the process of modernizing this system in order to electronically capture and transfer this information. My direction to our staff has been: “If you as an individual citizen can deposit a check on your iPhone, the state should be able to find a more cost effective way than snail mail or bank courier to manage and move the people’s money.”   Advocating for Fiscal Conservatism in our State Budget Update: Ohio’s current $8 billion budget shortfall is the largest in our state’s history. This week, state lawmakers began the process of formulating a two-year budget. It’s important that lawmakers make the fiscally sound decisions needed to cut spending and balance our budget. It is time that state government tightens its belt, just like Ohio families and businesses have been doing, and I will continue to hold the big-spenders feet to the fire as we restore fiscal sanity to our state government.   Expanding Online Learning Opportunities for Government Fiscal Officers: Our office is looking at expanding online learning for government fiscal officers who are required to take continuing education courses through our Center for Public Investment Management. Again, leveraging technology to make tax dollars go farther, we can save time and money by offering distance learning financial seminars, instead of forcing local government CFO’s to travel across the state for costly events.   Participating in Consumer Protection Week: In Kettering (Montgomery County) and West Union (Adams County), my office recently participated in National Consumer Protection Week events, sponsored by Attorney General Mike DeWine. Some of our most valued and vulnerable citizens are our elders, and I was proud to partner with private sector companies and Attorney General DeWine to educate these seniors on how to protect themselves against fraud and identity theft.   “Ask Josh” - Constituent Service and Business Assistance: A top priority of mine is to ensure that the Treasurer’s office can help citizens and businesses cut through government red tape and anti-capitalist bureaucracy. We have assembled a top-notch constituent affairs team that is dedicated to helping citizens better navigate government and spend time on growing their businesses rather than being bounced around the bureaucracy. We have created an “Ask Josh” section on our website to receive questions and help solve problems for Ohioans. I would encourage you to visit this page if you have issues relating to state government or anything else that we might be able to help resolve. If you prefer, you can also send an e-mail to constituentaffairs@tos.ohio.gov   These are just a few of the many activities occurring in the Treasurer’s office. We will continue rolling out fresh ideas and fiscally conservative leadership, and I encourage you to send feedback and thoughts as your time permits. For the latest, please visit our website at www.ohiotreasurer.gov. As always, please never hesitate to contact my office anytime for anything.   Best regards, Josh     Josh Mandel State Treasurer of Ohio /News/19 2011-03-23T00:00:00 The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money.   Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions.   Click here for March agenda   /News/20 2011-03-24T00:00:00 The State Board of Deposit February Report: Economic Outlook, and Review of Investment Portfolio                                                                                Click here to view the full report   /News/21 2011-03-29T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel presented the Treasurer’s office budget today before the House Agriculture and Natural Resources Subcommittee on Finance and Appropriations. The Treasurer’s budget would reduce general revenue fund operating expenses by 6.5%. “The primary function of the Treasurer’s office is to protect and invest the state’s money, and it is my commitment to do so with integrity and transparency,” said Treasurer Mandel. “Our office is conducting a top-bottom review, and has consolidated departments, streamlined operations and increased efficiencies. We continue to examine ways to further save taxpayer money by leveraging technology and improving the delivery of services.” The Treasurer expanded on some of the ways that the office is improving operations, including:   •Utilizing electronic banking for check deposits instead of expensive couriers; •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. “The Treasurer’s office is moving forward to meet the challenges facing our state today,” concluded Treasurer Mandel. “We will continue to run a disciplined and financially sound office, and remain committed to protecting taxpayer dollars and implementing policies to help create a more business friendly environment in Ohio.” /News/22 2011-04-15T00:00:00 EAST CLEVELAND – State Treasurer of Ohio Josh Mandel’s office provided a “Real Money, Real World” workshop today at Shaw High School in East Cleveland as part of a statewide effort to increase student financial literacy.  The Real Money, Real World interactive budget simulation is part of the Treasurer’s presentation at the Smart Money Matters event, and is intended to increase students’ awareness of the impacts of financial choices on home budgeting.  This event is part of the Treasurer’s continued efforts to bring awareness to financial education during National Financial Literacy Month.   “It’s very important to teach students skills like balancing their checkbook and living on a tight budget while they’re in high school to help keep them out of financial trouble when they become young adults,” said Treasurer Mandel.  “Less than half of teens report that they discuss money management with their family, and a similar amount say they don’t know how to manage a credit card.  The Real Money, Real World simulation forces students to make realistic decisions and set priorities in order to live within their means.  This exercise is part of a broader effort to give young Ohioans a more solid financial foundation to build on as they graduate and go on to college or start their working careers.”   As part of the Real Money, Real World budget simulation, students are given a fixed income, and are dealt financial obligations.  They are then asked to budget for such expenses as: child care, clothing, communications, entertainment, food, housing, insurance, student loans, transportation, utilities, etc.  Their spending and expenses must meet their income, often requiring tough decisions and encouraging thoughtful discussion on priorities.   Ohio Senate Bill 311, passed in 2007, requires financial literacy to be taught as part of the Ohio Core Education Standards.  The law requires schools to integrate the study of economics and financial literacy into one or more existing social studies credits or into the content of another class so that every high school student receives instruction in these concepts. The law requires that financial education be integrated into the curriculum for all students beginning with the class of 2014.   “This simulation is just one example of the ways that my office is seeking to expand access to financial literacy for students and all Ohioans,” said Treasurer Mandel.  “We are also working to add more online resources and content for students and teachers to help them fulfill their  educational requirements and be better prepared for future success after high school.”   Smart Money Matters is a collaboration between the Ohio Treasury, PNC Bank, Third Federal Savings and Loan, the U.S. Department of Housing and Urban Development and the Ohio Realtist Association.   ####   /News/23 2011-04-17T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel and Auditor of State Dave Yost today sent a letter to Ohio Senate President Tom Niehaus and Ohio House Speaker Bill Batchelder  encouraging the legislature to use any new revenues to replenish Ohio’s rainy day fund.  Below is the text of the letter that was sent from Treasurer Mandel and Auditor Yost, or you can View a PDF of the Letter: June 15, 2011 The Honorable Tom Niehaus President Ohio Senate Statehouse Columbus, Ohio 43215 The Honorable Bill Batchelder Speaker Ohio House of Representatives 77 S. High Street - 14th Floor Columbus, Ohio 43215 Dear President Niehaus and Speaker Batchelder, We are writing to support your efforts to direct any new revenue from revised estimates to Ohio’s Budget Stabilization Fund, or “rainy day fund.”  Currently, Ohio has less than two dollars in our rainy day fund, meaning that for all intents and purposes we have absolutely no reserves.  We need to do better.             Lawmakers have worked this year to close a historic $8 billion budget shortfall.  You have made tough decisions to bring this budget into balance, and should be applauded for holding the line on spending.   The budget that you have crafted with Governor Kasich will correct Ohio's structural budget deficit and reduce the tax burden on Ohio's families by phasing-in the 21% income tax reduction and eliminating the estate tax.  This plan is important to our state’s long-term fiscal health and economic competitiveness.  It will be strengthened further if you bolster the rainy day fund. As members of the Ohio Public Facilities Commission, we know first-hand how important having a sufficient rainy day fund is toward securing a more favorable bond rating for debt issued by our state.   A strong rainy day fund paired with a balanced spending plan will help end boom or bust budget cycles, and reinforce that Ohio is a fiscally responsible leader among the states.  As the budget process winds to a close, we encourage you to continue down the path of fiscal discipline by using any new revenues to replenish Ohio’s rainy day fund.   Please let us know how we can help you accomplish this mission.  Sincerely, Dave Yost                                                                                           Josh Mandel Auditor of State                                                                                  Treasurer of State CC:      Governor John Kasich   #### /News/24 2011-04-25T00:00:00 The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money.   Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions.   Click here for April agenda   /News/25 2011-04-26T00:00:00 COLUMBUS – Representatives of Ohio Treasurer Josh Mandel participated today in Solidarity 2011, a conference put on by the Disability Network of Ohio.  During the conference the Ohio Treasury’s Community Education Department provided a personal budgeting presentation to help educate participants on smart money choices.  “Solidarity 2011 is a terrific conference that helps empower individuals to take greater control of their lives.  My office was proud to present a program on ways to make smart money choices with personal finances,” said Treasurer Mandel.  “Educating individuals on financial literacy is vital to gaining independence, which is an important goal of the Disability Network of Ohio.” Solidarity 2011 is Ohio’s oldest, largest and leading conference for and by people with disabilities.  This year’s conference is being held April 26-28 at the Hyatt Regency Hotel and Convention Center in downtown Columbus.  For more information on the Ohio Treasurer and financial education programs please visit: www.ohiotreasurer.gov.    ####   /News/26 2011-04-26T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel today announced approving $68.9 million in Agricultural Linked Deposit (Ag-LINK) funds awarded to over 800 farmers from all corners of the state. “Ag-LINK is a great program that offers Ohio’s farmers reduced rate loans to provide needed funds for a successful season.  Through the Ag-LINK program the state invests in our agriculture community and helps provide farmers with important financial tools to help weather the up-front costs of their farming operations,” said Treasurer Mandel.  “This translates into real money that farmers can use to invest in their operations, which is very important in an era when many are struggling to make ends meet.” This annual program provides an interest rate reduction on operating loans and lines of credit to Ohio’s farming community.  Every year before the planting season, many farmers finance their operating costs for feed, seed, fertilizer, and fuel.  The Ohio Treasury places deposits with Ohio’s banks at below market rates when the bank agrees to reduce the interest rate on a farmer’s loan.  Loans approved through Ag-LINK this year will receive a .35% savings over a traditional loan, with average borrowing rates of 4.71% reduced to 4.36%.  Ohio’s agriculture industry employs one-in-seven Ohioans and pumps $98 billion into the state’s economy each year.  This year, 843 recipients were awarded Linked Deposits in 67 counties across the state with the average number of acres farmed being 790.  The Ag-LINK program is used by both full-time and part-time farmers on both large and small farms.  The average amount of loans approved is $72,000.   View a Breakdown of Ag-LINK Awards by Region and County.   For more information on the Ohio Treasury’s Ag-LINK program: click here.    ####   /News/27 2011-04-27T00:00:00 The State Board of Deposit March Report: Economic Outlook, and Review of Investment Portfolio.                                                                    .                        Click here to view the full report /News/28 2011-04-30T00:00:00 COLUMBUS – Representatives of Ohio Treasurer Josh Mandel participated today in the 11th Annual Dia del Los Niños/Children’s Day, a children’s event in Columbus sponsored by the Ohio Hispanic Coalition.  During the conference, the Ohio Treasury’s Community Education Department provided financial education resources for children and adults to help educate participants on smart money choices.  “Dia del Los Niños is a wonderful program that brings together the local Latino community to celebrate their strong and rich heritage.  I am proud that my office was able to help educate participants on ways to improve their personal finances, it’s never too early to start teach kids about making smart money choices,” said Treasurer Mandel.  “Ohioans who are educated on financial literacy have better tools to build a strong personal foundation for their families, which is very important to our state’s future.” Dia del Los Niños/Children’s Day is an annual event which offers a wide variety of activities for children and adults.  This year’s program was held Saturday, April 30th at the Glenwood United Methodist Church located at 2833 Valleyview Drive in Columbus, Ohio from 10:30 a.m. to 5:00 p.m.  For more information on the Ohio Treasurer and financial education programs please visit: www.OhioTreasurer.gov.  #### /News/29 2011-05-10T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel announced today the 2011 schedule for the Ohio Treasury’s Center for Public Investment Management (CPIM) Conference.  CPIM is a continuing education program for Ohio’s public funds managers and their oversight authorities provided by the Ohio Treasury as required by law.  “CPIM is a very important Ohio Treasury program used to help educate local government finance officers so they can make intelligent and informed decisions on behalf of taxpayers and their constituencies,” said Treasurer Mandel.  “The program allows public funds managers to get the latest information on best practices and other strategies to keep their financial house in order.  With budgets tightening across the state and the nation, government entities at all levels are being asked to do more with less.  The continuing education offered through CPIM has never been more important and gives stewards of taxpayer dollars the educational resources to ensure fiscal responsibility.”  CPIM Academy is a mandatory program of annual continuing training conducted by the Ohio Treasurer’s office.  Public funds managers from a variety of public entities, including school districts, counties, townships, libraries and municipalities are required to attend training or obtain exemptions from training. CPIM offers the highest standard of comprehensive education and instruction in areas such as cash management, investments, public finance, management, ethics, compliance and reporting.  CPIM Academy offers fundamental and advanced courses on prudent investment strategies and risk management to meet the diverse educational needs of new and experienced public funds managers.  “CPIM conferences provide valuable information for public funds managers, and we are looking to expand our online library of courses to make resources more accessible and convenient to public funds managers,” continued Treasurer Mandel.  “One of my top goals is to utilize technology to make government more efficient.” 2011 CPIM Conference Schedule - Full Day Conferences Wednesday, May 11 in Wilmington Location: Roberts Conference Centre Wednesday, June 8 in Cleveland               Location: Cuyahoga Community College, Corporate College East Wednesday, July 13 in Dayton               Sinclair Community College, David Ponitz Conference Center Wednesday, August 3 in Perrysburg           Location: Holiday Inn French Quarters Wednesday, September 14 in Columbus     Location: Columbus State Community College, Center for Workforce Development Wednesday, October 5 in Akron           Location: University of Akron, Student Union   Additional information on locations of CPIM courses and registration can be found here or please visit www.OhioTreasurer.gov for more information on the Ohio Treasury.    /News/30 2011-05-11T00:00:00 WILMINGTON – Public funds managers from across Southwest Ohio met today for a Center for Public Investment Management (CPIM) conference hosted by the office of Ohio Treasurer Josh Mandel.  CPIM is a continuing education program for Ohio’s public funds managers and their oversight authorities provided by the Ohio Treasury as required by law.  The CPIM conference was held at Roberts Conference Centre in Wilmington, Ohio, with approximately 100 public funds managers registered to attend. “The CPIM program allows public funds managers to get the latest information on best practices and other strategies to keep their financial house in order.  In this economic climate, it’s important that those entrusted to manage taxpayer dollars are equipped with the tools they need to make sound financial decisions,” said Treasurer Mandel.  “Conferences like these bring together experts in government and finance to share knowledge that can help public funds managers be better stewards of hard-earned taxpayer dollars.”  CPIM is a mandatory program of annual continuing training conducted by the Ohio Treasurer’s office.  Public funds managers from a variety of public entities, including school districts, counties, townships, libraries and municipalities are required to attend training or obtain exemptions from training. CPIM offers the highest standard of comprehensive education and instruction in areas such as cash management, investments, public finance, management, ethics, compliance and reporting.  CPIM offers fundamental and advanced courses on prudent investment strategies and risk management to meet the diverse educational needs of new and experienced public funds managers.  Information on locations of CPIM courses and registration can be found here or please visit www.OhioTreasurer.gov for more information on the Ohio Treasury. #### /News/31 2011-05-16T00:00:00 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.   #### /News/32 2011-05-18T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel announced today the 2011 schedule for the Ohio Treasury’s Smart Money Choices Conference.  Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by Treasurer Mandel, and supported by a variety of statewide and regional partners.     June 24, 2011 - CINCINNATI - Register Today! UC Raymond Walters College 9555 Plainfield Road Cincinnati, OH 45236-1096   --------------------------------------------------------------------------------    July 8, 2011 - CLEVELAND - Registration opens May 31 Holiday Inn Cleveland South 6001 Rockside Road Independence, OH 44131   --------------------------------------------------------------------------------    July 22, 2011 - DAYTON - Registration opens June 13 Hope Hotel & Conference Center Building #823 - Area A Chidlaw Road & Spruce Way Wright Patterson Air Force Base, OH 45433   --------------------------------------------------------------------------------    July 29, 2011 - COLUMBUS - Registration opens June 20 Columbus State Conference Center 315 Cleveland Avenue - 4th Floor, Room 432 Columbus, OH 43215   --------------------------------------------------------------------------------    August 12, 2011 - TOLEDO - Registration opens July 5 Owens Community College - Toledo Campus Audio/Visual Classroom Center 30335 Oregon Road Perrysburg, OH 43551     --------------------------------------------------------------------------------    August 26, 2011 - YOUNGSTOWN - Registration opens July 18 Holiday Inn Conference Center - Boardman 7410 South Avenue Boardman, OH 44512       Registration for the first Smart Money Choices conference, which will be held in Cincinnati on June 24, opened on May 16, 2011.  Click here for more information, or to register for the Cincinnati Smart Money Choices Conference. “Smart Money Choices conferences give attendees valuable tools to better plan their finances and future. People can learn about topics ranging from credit and debt management to planning for retirement or paying for your children’s college education,” said Treasurer Mandel.  “Studies show that employees experiencing financial stress are distracted during the work day, and financial education can help increase productivity.  Ohioans looking to take better control of their finances should plan to attend these free seminars.”  The conferences include an opening session, panel discussion, breakout sessions taught by financial planning experts, and a closing session.  Participants are encouraged to interact with presenters and ask questions.  These all day conferences are presented from 8:00 a.m. to 4:00 p.m. Courses that will be offered during the day are Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security.  Information on locations of Smart Money Choices courses and registration is included below.  To view the schedule or register online, visit here. /News/33 2011-05-23T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel today announced the 2011 schedule for the Ohio Treasury’s Teacher Academy, an innovative partnership that provides teachers with training and resources for financial education courses.  Teacher Academy is a highly successful two-day program held throughout the summer and is offered in partnership with the Ohio Department of Education and the Ohio Council on Economic Education.  View information on courses and registration here. “Teacher Academy empowers teachers with financial education resources to teach students the real-world money management skills they will need to be successful after graduation,” said Treasurer Mandel.  “This is a great partnership that offers training and personal finance materials to teachers so that school districts can include financial education in high school curriculum.” This annual program provides workshops focused on providing teachers with financial education materials and resources, along with instruction on how to engage and motivate students with an interactive curriculum.  More than 1,100 teachers have participated in these workshops since 2007.  This well-developed program utilizes public and corporate participation and support from school districts, and offers summer courses for teachers at state colleges and education centers, as well as offering online learning options .  The personal finance courses offered to teachers in 2011 include: •    Decision Making and Money; •    Career Choices and Income; •    Getting Your Money’s Worth; •    Wealth Creation and Investing; •    Protecting Yourself: Risk and Insurance; and •    Personal Finance Courses for All Grade Levels. Amended Substitute Senate Bill 311 requires Ohio schools to implement personal financial education into high school curricula, beginning in the school year of 2010 for the class of 2014.  The Teacher Academy will enable schools to offer financial education that is meaningful and compliant with the statute.  Information on Teacher Academy locations, courses and registration can be found here or please visit www.OhioTreasurer.gov for more information on the Ohio Treasury. /News/34 2011-05-25T00:00:00 The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money.   Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions.   Click here for May agenda   /News/35 2011-05-26T00:00:00 The State Board of Deposit April Report: Economic Outlook, and Review of Investment Portfolio                                                                    .                        Click here to view the full report /News/36 2011-05-31T00:00:00 CLEVELAND – State Treasurer of Ohio Josh Mandel announced today that registration has opened for the Cleveland area Smart Money Choices conference, which will be held in Independence on July 8, 2011.   Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by the Treasurer’s office.  There are six Smart Money Choices conferences scheduled for 2011 that are being held in regions across the state.  Click here for more information, or to register for the Cleveland Smart Money Choices Conference.“Many Ohioans are experiencing financial uncertainty in this economy, and could benefit from access to free financial planning workshops.  Smart Money Choices conferences give attendees valuable tools to help take control of their finances, and better plan for their future,” said Treasurer Mandel.  “These seminars provide Ohioans from all walks of life with free access to qualified financial professionals and experts in their field who can provide advice on specific strategies for making smart money choices.”  Courses that will be offered during the day are Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security.  The conferences include an opening session, panel discussion, breakout sessions taught by financial planning experts, and a closing session.  Participants are encouraged to interact with presenters and ask questions.  These all day conferences are presented from 8:00 a.m. to 4:00 p.m. Information on locations of Smart Money Choices courses and registration is included below.  To view the schedule or register online, visit here.    June 24, 2011 - CINCINNATI - Register Today! UC Raymond Walters College 9555 Plainfield Road Cincinnati, OH 45236-1096   --------------------------------------------------------------------------------    July 8, 2011 - CLEVELAND - Register Today! Holiday Inn Cleveland South 6001 Rockside Road Independence, OH 44131   --------------------------------------------------------------------------------    July 22, 2011 - DAYTON - Registration opens June 13 Hope Hotel & Conference Center Building #823 - Area A Chidlaw Road & Spruce Way Wright Patterson Air Force Base, OH 45433   --------------------------------------------------------------------------------    July 29, 2011 - COLUMBUS - Registration opens June 20 Columbus State Conference Center 315 Cleveland Avenue - 4th Floor, Room 432 Columbus, OH 43215   --------------------------------------------------------------------------------    August 12, 2011 - TOLEDO - Registration opens July 5 Owens Community College - Toledo Campus Audio/Visual Classroom Center 30335 Oregon Road Perrysburg, OH 43551     --------------------------------------------------------------------------------    August 26, 2011 - YOUNGSTOWN - Registration opens July 18 Holiday Inn Conference Center - Boardman 7410 South Avenue Boardman, OH 44512     Please visit www.OhioTreasurer.gov for more information on the Ohio Treasury.     #### /News/37 2011-06-13T00:00:00 Renew & Rebuild Ohio Programs Assist Small Businesses, Farms and Homes COLUMBUS – Treasurer of State Josh Mandel today initiated a $25 million emergency financing program to assist Ohioans whose small businesses, farms and homes were damaged by flooding and severe weather in 2011.  Through the Ohio Treasury’s Renew Ohio & Rebuild Ohio linked deposit programs small business owners, farmers and homeowners affected by the floods and severe weather are now eligible to receive emergency financial assistance in their time of need through interest rate reductions on loans. “Many Ohioans have had their lives affected by flooding and severe weather throughout the state and are in need of assistance to rebuild or cover costs associated with damage,” said Treasurer Mandel. “Through the Renew & Rebuild Ohio linked deposit programs, we hope to assist those impacted by storms this year by working with local banks to offer reduced rate loans to help them get their lives and businesses back on track.” As part of the Renew & Rebuild Ohio Program, the State Treasury has allocated $25 million worth of funds which will be made available to Ohioans in all 88 counties who have experienced hardship due to flooding and extreme weather this year.  Renew Ohio will assist small business owners and those in the agricultural community who have suffered severe damage or loss as a result of the 2011 flooding and severe weather.  Businesses and farmers can apply to obtain a three percent rate reduction on new or existing loans for construction or to improve cash flow.  The maximum loan amount per applicant is $400,000 for two years.  Rebuild Ohio will assist homeowners applying for repair or construction loans to finance the restoration of their homes.  Homeowners who have suffered severe damage or loss as a result of the 2011 flooding and severe weather will be eligible for a three percent rate reduction on a construction loan of up to $400,000 for a one-year period. The deadline to apply for these programs is September 1, 2011.  For more information or to apply for the Renew Ohio or Rebuild Ohio programs please contact the Ohio Treasury’s Department of Economic Development by calling (614) 466-6546 or toll-free (800) 228-1102 option 3; or visit the Renew Ohio & Rebuild Ohio page on our website.  The Treasurer’s Renew & Rebuild Ohio programs are in addition to other forms of assistance that might be available for Ohioans through other state and federal programs.  For example, assistance for residents and businesses in Jackson and Lawrence counties impacted by severe storms and flash flooding on May 10-11, 2011 was recently made available when the Small Business Administration (SBA) granted Governor Kasich’s request for a disaster declaration in these counties.  This declaration also includes the contiguous counties of Gallia, Pike, Ross, Scioto and Vinton.  The State Individual Assistance Grant Program (IA) will also be available to individuals impacted by the severe storms that don’t qualify for SBA low interest loans.  Click here for more information on SBA/State IA programs.For additional information on the Ohio Treasurer’s Office, please visit:  www.OhioTreasurer.gov   ####   /News/38 2011-06-14T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel today sent a letter to Ohio Attorney General Mike DeWine requesting an investigation into whether banks conducting foreign currency exchange transfers on behalf of the state exploited Ohio retirees, businesses and taxpayers. “I am concerned that banks under contract with the state may have improperly manipulated foreign currency trade prices in order to maximize the banks’ profit, at the expense of Ohio retirees, businesses and taxpayers,” said Treasurer Mandel.  “I have asked the Attorney General to investigate whether banks altered foreign currency exchange rates to exploit Ohio retirees and injured workers, and whether violations of state laws or contracts occurred.  If it’s found that banks profited improperly I believe the state should seek to recover this money on behalf of Ohio retirees, businesses and taxpayers.” Below is the text of the letter that was sent from Treasurer Mandel to Attorney General DeWine, or you can View a PDF of the Letter: June 14, 2011 The Honorable Mike DeWine Ohio Attorney General 30 East Broad Street, 14th Floor Columbus, OH 43215 Dear Mr. Attorney General,             This letter requests that your office launch an investigation into whether beneficiaries of Ohio pension funds and the Ohio Bureau of Workers’ Compensation have been exploited by custodial banks when conducting foreign currency exchanges.  I am concerned that the banks may have manipulated foreign currency trade prices in order to maximize the banks’ profit, at the expense of Ohio public servants, businesses and taxpayers. As Ohio Treasurer, I am the custodian of Ohio’s five public employee pension funds and the Ohio Bureau of Workers’ Compensation.  The Ohio Public Employee Retirement System, School Employees Retirement System of Ohio, State Teachers Retirement System of Ohio, and the Ohio Police & Fire Pension Fund actively invest in foreign investments.  As of April 30, 2011, these four funds held approximately $170 billion in domestic and international assets, with approximately $39 billion invested in international securities.  Some of these pension funds have currently or previously entered into individual contracts with banks to perform foreign currency exchanges on their behalf.  The Ohio Bureau of Workers’ Compensation previously also held foreign investments that involved foreign currency exchanges.  While each fund individually manages its investments and enters into contracts with banks to conduct foreign currency exchanges, I feel compelled to bring this to your attention under my duty as a watchdog for taxpayer funds.  I am concerned that custodial banks on contract with the state may have manipulated foreign currency exchange rates to mark up (for buys) and mark down (for sales) the prices paid by these funds.  Rather than charging the market rate at the time of the order, these banks may have inflated their profits by charging close to the highest or lowest prices of the day depending on what was advantageous to them, not their client.  If these banks engaged in this practice, the net result over thousands of international transactions and more than a dozen years might be that Ohio pensioners and businesses paid tens of millions of dollars more than market rates. Ohio would not be alone in investigating whether custodial banks have been exploiting state funds.  There are currently investigations or lawsuits underway by other states, including California, Florida, North Carolina and Virginia against banks alleged to have participated in this practice.  In each state there is concern that foreign currency exchange rates were manipulated, possibly in violation of law or contracts.  The Securities and Exchange Commission also recently launched an investigation into this matter.  I share these concerns, and believe that it warrants a full investigation. I respectfully request that you, as Attorney General, investigate the practices of custodial banks under contract with state funds to conduct foreign currency exchanges.  It is important to determine whether the banks manipulated or falsified foreign currency transaction prices to benefit the banks and disadvantage the beneficiaries of the pension funds or Ohio businesses.  I also request that your office investigate whether the custodial banks concealed their profits on the markups or markdowns from these funds.  If your investigation determines that unlawful practices occurred, I respectfully request that the Attorney General's office seek to recover damages, costs, attorneys’ fees, and any penalties, on behalf of Ohio public servants, businesses and taxpayers. Thank you for your attention to this matter.   Sincerely, Josh Mandel State Treasurer of Ohio   ####   /News/39 2011-06-15T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel and Auditor of State Dave Yost today sent a letter to Ohio Senate President Tom Niehaus and Ohio House Speaker Bill Batchelder encouraging the legislature to use any new revenues to replenish Ohio’s rainy day fund.  Below is the text of the letter that was sent from Treasurer Mandel and Auditor Yost, or you can View a PDF of the Letter: June 15, 2011 The Honorable Tom Niehaus President Ohio Senate Statehouse Columbus, Ohio 43215 The Honorable Bill Batchelder Speaker Ohio House of Representatives 77 S. High Street - 14th Floor Columbus, Ohio 43215 Dear President Niehaus and Speaker Batchelder, We are writing to support your efforts to direct any new revenue from revised estimates to Ohio’s Budget Stabilization Fund, or “rainy day fund.”  Currently, Ohio has less than two dollars in our rainy day fund, meaning that for all intents and purposes we have absolutely no reserves.  We need to do better.             Lawmakers have worked this year to close a historic $8 billion budget shortfall.  You have made tough decisions to bring this budget into balance, and should be applauded for holding the line on spending.   The budget that you have crafted with Governor Kasich will correct Ohio's structural budget deficit and reduce the tax burden on Ohio's families by phasing-in the 21% income tax reduction and eliminating the estate tax.  This plan is important to our state’s long-term fiscal health and economic competitiveness.  It will be strengthened further if you bolster the rainy day fund. As members of the Ohio Public Facilities Commission, we know first-hand how important having a sufficient rainy day fund is toward securing a more favorable bond rating for debt issued by our state.   A strong rainy day fund paired with a balanced spending plan will help end boom or bust budget cycles, and reinforce that Ohio is a fiscally responsible leader among the states.  As the budget process winds to a close, we encourage you to continue down the path of fiscal discipline by using any new revenues to replenish Ohio’s rainy day fund.   Please let us know how we can help you accomplish this mission.  Sincerely, Dave Yost                                                Auditor of State Josh Mandel State Treasurer CC:      Governor John Kasich ####   /News/40 2011-06-16T00:00:00 DAYTON – State Treasurer of Ohio Josh Mandel announced today that registration has opened for the Dayton area Smart Money Choices conference, which will be held at Wright Patterson Air Force Base on July 22, 2011.   Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by the Treasurer’s office.  There are six Smart Money Choices conferences scheduled for 2011 that are being held in regions across the state.  Click here for more information, or to register for the Dayton Smart Money Choices Conference. “The goal of the Smart Money Choices conferences is to help empower Ohioans to take control of their finances so they can better plan for a successful future.  Through this conference series, Ohioans from across the state can benefit from free access to qualified financial professionals and experts,” said Treasurer Mandel. “We are providing Ohioans with tools to manage their finances, which in turn will improve not only their personal financial future but our state’s economy.” Courses that will be offered during the day are Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security.  The conferences include an opening session, panel discussion, breakout sessions taught by financial planning experts, and a closing session.  Participants are encouraged to interact with presenters and ask questions.  These all day conferences are presented from 8:00 a.m. to 4:00 p.m. Information on locations of Smart Money Choices courses and registration is included below. To view the schedule or register online, visit here. June 24, 2011 - CINCINNATI - Register Today! UC Raymond Walters College 9555 Plainfield Road Cincinnati, OH 45236-1096 ________________________________________   July 8, 2011 - CLEVELAND - Register Today! Holiday Inn Cleveland South 6001 Rockside Road Independence, OH 44131 ________________________________________   July 22, 2011 - DAYTON – Register Today! Hope Hotel & Conference Center Building #823 - Area A Chidlaw Road & Spruce Way Wright Patterson Air Force Base, OH 45433 ________________________________________   July 29, 2011 - COLUMBUS -Registration opens June 20 Columbus State Conference Center 315 Cleveland Avenue - 4th Floor, Room 432 Columbus, OH 43215 ________________________________________   August 12, 2011 - TOLEDO - Registration opens July 5 Owens Community College - Toledo Campus Audio/Visual Classroom Center 30335 Oregon Road Perrysburg, OH 43551   ________________________________________   August 26, 2011 - YOUNGSTOWN - Registration opens July 18 Holiday Inn Conference Center - Boardman 7410 South Avenue Boardman, OH 44512 Please visit www.OhioTreasurer.gov for more information on the Ohio Treasury.   /News/41 2011-06-20T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel announced today that registration has opened for the Columbus area Smart Money Choices conference, which will be held at the Columbus State Conference Center on July 29, 2011. Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by the Treasurer’s office. There are six Smart Money Choices conferences scheduled for 2011 that are being held in regions across the state. Click here for more information, or to register for the Columbus Smart Money Choices Conference.. “The Columbus Smart Money Choices conference will offer free resources to Central Ohioans who are trying to build a more solid personal financial plan. This conference series provides Ohioans from all regions of the state with free access to qualified financial professionals and experts and covers a broad range of topics and issues,” said Treasurer Mandel. “The goal of Smart Money Choices is to provide Ohioans with tools to manage their finances, and to continue a focus on sound financial planning for their future.” Courses that will be offered during the day are: Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security. The conferences include an opening session, panel discussion, breakout sessions taught by financial planning experts, and a closing session. Participants are encouraged to interact with presenters and ask questions. These all day conferences are presented from 8:00 a.m. to 4:00 p.m. Information on locations of Smart Money Choices courses and registration is included below. To view the schedule or register online, visit here.To view the schedule or register online, visit here. June 24, 2011 - CINCINNATI - Register Today! UC Raymond Walters College 9555 Plainfield Road Cincinnati, OH 45236-1096 ________________________________________   July 8, 2011 - CLEVELAND - Register Today! Holiday Inn Cleveland South 6001 Rockside Road Independence, OH 44131 ________________________________________   July 22, 2011 - DAYTON – Register Today! Hope Hotel & Conference Center Building #823 - Area A Chidlaw Road & Spruce Way Wright Patterson Air Force Base, OH 45433 ________________________________________   July 29, 2011 - COLUMBUS - Registration Today! Columbus State Conference Center 315 Cleveland Avenue - 4th Floor, Room 432 Columbus, OH 43215 ________________________________________   August 12, 2011 - TOLEDO - Registration opens July 5 Owens Community College - Toledo Campus Audio/Visual Classroom Center 30335 Oregon Road Perrysburg, OH 43551   ________________________________________   August 26, 2011 - YOUNGSTOWN - Registration opens July 18 Holiday Inn Conference Center - Boardman 7410 South Avenue Boardman, OH 44512 Please visit www.OhioTreasurer.gov for more information on the Ohio Treasury.   /News/43 2011-06-21T00:00:00 The State Board of Deposit meeting will take place on June 23, 2011 at 10:00 am in the State Treasurer's office                                                      The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money.   Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions Click here for June's agenda /News/44 2011-06-23T00:00:00 Click here to view the full report /News/45 2011-06-22T00:00:00 by CENTERVILLE-WASHINGTON TIMES on JUNE 22, 2011 By DOUG SKINNER After receiving a loan from a state program for small businesses, a Centerville company recently hosted Ohio Treasurer Josh Mandel. ElectriPack Inc., 976 Senate Drive, had taken part in the GrowNOW program, which enables small business owners to receive a 3 percent interest rate reduction on new or existing small business loans for two years with the opportunity of renewal. The program is a partnership between eligible banks and the Ohio Treasury. Small business owners must commit to the creation or retention of at least one full-time job or two part-time jobs in Ohio for every $50,000 borrowed, up to $400,000. “GrowNOW broadly serves as a catalyst for Ohio’s economic development by supporting the small businesses that drive it,” Mandel said.   READ FULL ARTICLE /News/46 2011-07-06T00:00:00 TOLEDO – State Treasurer of Ohio Josh Mandel announced today that registration has opened for the Toledo area Smart Money Choices conference, which will be held at the Owens Community College Toledo Campus in Perrysburg on August 12, 2011.   Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by the Treasurer’s office.  There are six Smart Money Choices conferences that have been scheduled for 2011 in regions across the state.  Click here for more information, or to register for the Toledo Smart Money Choices Conference. “The Toledo Smart Money Choices conference will offer free resources to Northwest Ohioans who are trying to build a more solid personal financial plan.  It is a great opportunity to take advantage of free access to qualified financial professionals and experts who can provide advice and tools to plan for the future,” said Treasurer Mandel. “The Smart Money Choices conference will cover a broad range of topics and issues across the spectrum, from paying for college to saving for retirement and everything in between.  The goal of this series is to provide Ohioans with tools to better manage their finances, and to continue a focus on sound financial planning.” Courses that will be offered during the day are: Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security.   The conferences include an opening session, panel discussion, breakout sessions taught by financial planning experts, and a closing session.  Participants are encouraged to interact with presenters and ask questions.  These all day conferences are presented from 8:00 a.m. to 4:00 p.m. Information on locations of upcoming Smart Money Choices courses and registration is included below.  To view the schedule or register online, visit here. ________________________________________   July 8, 2011 - CLEVELAND - Register Today! Holiday Inn Cleveland South 6001 Rockside Road Independence, OH 44131 ________________________________________   July 22, 2011 - DAYTON – Register Today! Hope Hotel & Conference Center Building #823 - Area A Chidlaw Road & Spruce Way Wright Patterson Air Force Base, OH 45433 ________________________________________   July 29, 2011 - COLUMBUS - Register Today! Columbus State Conference Center 315 Cleveland Avenue - 4th Floor, Room 432 Columbus, OH 43215 ________________________________________   August 12, 2011 - TOLEDO - Register Today! Owens Community College - Toledo Campus Audio/Visual Classroom Center 30335 Oregon Road Perrysburg, OH 43551   ________________________________________   August 26, 2011 - YOUNGSTOWN - Registration opens July 18 Holiday Inn Conference Center - Boardman 7410 South Avenue Boardman, OH 44512 Please visit www.OhioTreasurer.gov for more information on the Ohio Treasury.   #### /News/48 2011-07-12T00:00:00 COLUMBUS – State Treasurer of Ohio Josh Mandel today released his Fiscal Year 2011 Top-Bottom Review, which chronicles ways the Treasurer’s office is saving taxpayer dollars, modernizing banking practices and increasing security. “Immediately upon taking office I launched a top-bottom review of the Treasurer’s office to identify ways to save taxpayer dollars and apply private sector business practices to government.  Families and businesses across Ohio are tightening their belts and doing more with less, it’s time that government does the same.  As a result of this review we have made great progress toward modernizing banking practices and leveraging technology to increase efficiencies,” said Treasurer Mandel.   The Treasurer’s Fiscal Year 2011 Top-Bottom Review found ways to reduce budget costs, and control expenses across the Treasury by operating more efficiently. “Too often when government officials get their hands on tax money they think they have to spend it all.  I am proud to announce that the Treasurer’s office ended the 2011 Fiscal Year with approximately $400,000 in surplus and is on track to reduce general revenue fund operating expenses by $1.2 million over the next biennium,” continued Treasurer Mandel.  “In addition to big dollar items, we scoured small expenses and found that we can do simple things like consolidate offices, shut off phone lines and terminate plant watering contracts to stretch taxpayer dollars further.”   View the Treasurer’s Fiscal Year 2011 Top-Bottom Review.  Below are some highlights of the report: Stretching Tax Dollars: The Treasury ended Fiscal Year 2011 with a surplus of nearly $400,000 and is reducing general revenue fund operating expenses by nearly $1.2 million for the next biennium. Putting Investments to Work for Ohio Taxpayers: The review found that bond proceeds were invested very short-term, earning very little interest.  The Treasurer shifted bond proceeds to the liquidity portfolio to take advantage of higher long-term yields.  As a result, the liquidity portfolio has increased by nearly $1.3 billion, putting more money to work for Ohio taxpayers.   Modernizing Banking Practices: The review found that in Fiscal Year 2011 an average of nearly 89,000 checks per month, worth approximately $234 million, were physically driven from the Ohio Treasury in Columbus to the depository bank in Cleveland.  This process was replaced with electronic checking, which will ultimately save $100,000 per year while increasing security.   Making Every Dollar Count: The review audited expenses, big and small, and found many opportunities to save money, including: $47,000 by consolidating regional offices; $30,000 simply by turning off unused phone, fax, and mobile lines, and $10,000 by lowering the minutes on cell phone plans; $16,000 by passing on the costs of postage for cigarette tax stamps to vendors; and Nearly $2,000 by terminating plant watering contracts. Leveraging Technology and Increasing Security: The review found many ways to leverage technology to improve operations and increase security, including: Launching upgrades of QED investment and banking record keeping software to improve security and allow for more frequent post-trade compliance reviews; and, Streamlining insurance company billing to allow companies to view their premium tax bills online and eliminate the need to mail over 1,500 bills to insurance companies across the country – saving thousands of dollars in postage, envelopes and staff hours. View the Treasurer’s Fiscal Year 2011 Top-Bottom Review online at http://tos.ohio.gov/tbr.pdf. #### /News/51 2011-07-12T00:00:00 Mandel tightens money belt State treasurer: Departmental review leads to $1.2 million in savings Tuesday, July 12, 2011  BY ALAN JOHNSON THE COLUMBUS DISPATCH Read Full Story /News/52 2011-07-18T00:00:00 YOUNGSTOWN – State Treasurer of Ohio Josh Mandel announced today that registration has opened for the Youngstown area Smart Money Choices conference, which will be held at the Holiday Inn Conference Center in Boardman on August 26, 2011.   Smart Money Choices is a free personal financial-planning conference series for all Ohioans presented by the Treasurer’s office.  Six Smart Money Choices conferences have been scheduled for 2011 in regions across the state.  Click here for more information, or to register for the Youngstown Smart Money Choices Conference. “The Smart Money Choices conference series brings together qualified financial professionals and experts to provide free advice to Ohioans who want to take better control of their finances,” said Treasurer Mandel. “It’s important that Ohioans are equipped with tools to manage their finances and plan for a successful future.  Smart Money Choices conferences provide valuable resources and encourage discussion on strategies to help residents put their money to work toward reaching their goals.” Courses that will be offered during the day are Budgeting, Credit & Debt Management, Consumer Fraud, Estate Planning, Insurance, Investments, Kids & Money, Programs to Help Ohioans, Retirement Planning and Social Security.  The conferences include an opening session, panel discussion, breakout sessions taught by financial planning experts, and a closing session.  Participants are encouraged to interact with presenters and ask questions.  These all day conferences are presented from 8:00 a.m. to 4:00 p.m. Information on locations of upcoming Smart Money Choices courses and registration is included below.  To view the schedule or register online, visit here. ________________________________________   July 22, 2011 - DAYTON Hope Hotel & Conference Center Building #823 - Area A Chidlaw Road & Spruce Way Wright Patterson Air Force Base, OH 45433 ________________________________________   July 29, 2011 - COLUMBUS Columbus State Conference Center 315 Cleveland Avenue - 4th Floor, Room 432 Columbus, OH 43215 ________________________________________   August 12, 2011 - TOLEDO - Register Today! Owens Community College - Toledo Campus Audio/Visual Classroom Center 30335 Oregon Road Perrysburg, OH 43551   ________________________________________   August 26, 2011 - YOUNGSTOWN - Register Today! Holiday Inn Conference Center - Boardman 7410 South Avenue Boardman, OH 44512 Please visit www.OhioTreasurer.gov for more information on the Ohio Treasury.   #### /News/53 2011-07-26T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel announced today that $377 million in taxpayer dollars that had been placed at risk of loss due to previous administrations’ mistakes are being secured. A review of depository agreements with banks applying to hold public funds found that prior administrations had failed to comply with federal law when amending agreements. This error meant that there might not have been enough collateral to recoup taxpayer dollars if a bank holding state money had failed. The review also found an administrative error in a contract that mistakenly referenced millions rather than billions and could have cost taxpayers hundreds of millions had it not been fixed. “As we continue our top-bottom review, we found both a failure to comply with federal law on agreements with banks holding state funds, and a huge administrative error referencing millions rather than billions. We sounded the alarm and took immediate action to correct these mistakes and to secure millions in public funds,” said Treasurer Mandel. “Fortunately, we were able to take action to correct these errors that had occurred over a number of years and spanned administrations, averting a $377 million mistake for Ohio taxpayers.” Background In order for financial institutions across Ohio to be deemed qualified public depositories of state money they must complete a depository agreement with the Treasurer’s office and comply with numerous state and federal laws. Ohio law requires that any bank holding state money on deposit must secure that deposit with collateral so that the state is protected in the event of a bank failure. State and federal law also requires that certain formal steps to be taken in order for the state to lay claim to this collateral in the event of a bank failure. The Ohio Revised Code (“ORC”) § 135.03 limits the amount of public money a financial institution can hold at any one time to thirty percent of that financial institution’s total assets. Periodically, a financial institution may desire to amend its depository agreement to increase the amount of public money it can hold on deposit while still remaining under the maximum amount allowed by Ohio law. Problems with Depository Agreements and Applications Identified As part of the normal response to requests by Ohio banks to increase the amount of state money they could hold on deposit, the Treasurer’s office became concerned that procedures were not being correctly followed. Treasurer Mandel initiated a careful review of the process for qualifying whether a bank is eligible to hold state money, which identified substantive errors that exposed the State of Ohio to losing hundreds of millions of dollars in the event of a bank failure. Specifically, Treasurer Mandel’s review revealed that prior Treasurers going back to at least 2007 failed to comply with federal law (12 U.S.C. § 1823(e)(1)), which requires a financial institution’s board of directors or loan committee to approve a depository agreement in order for public money to be secured. Prior practice only had a financial institution’s board of directors approve of the initial depository agreement, but not the amendments, which effectively left any money approved under amendments unsecured in the case of a bank failure. This review revealed problems at the following five financial institutions: Croghan Colonial Bank; First Financial Bank, NA; First National Bank of Bellevue; First National Bank of Dennison; and Savings Bank. It revealed $755,000 in unsecured collateral at three of these banks. The review also identified a substantial error in KeyBank’s application to hold public funds which erroneously stated a limit on public deposits for an amount of $31.7 million, instead of $31.7 billion. As a result of this error, the Treasurer discovered the state was at risk of losing up to $377 million of public deposits held at KeyBank alone because they were not properly secured. Additionally, a similar error was identified in a 2006 contract with KeyBank. Treasurer Mandel Corrects Process Fortunately, the Treasurer caught this before any money was lost. After identifying the problems in the process and the significant error at KeyBank, Treasurer Mandel’s office took immediate steps to protect taxpayer dollars. Treasurer Mandel consulted with the Ohio Attorney General’s office and is correcting the flaws in the process, which will effectively secure over $377 million in at-risk deposits. The office is currently continuing to review this entire process and implement changes to ensure that public moneys are always secure when deposited at financial institutions. #### /News/54 2011-07-27T00:00:00 The State Board of Deposit (BOD), is comprised of the State Treasurer, the Auditor of State, the Attorney General, and Cashier of the State Treasury.  The board, who meets on a monthly basis, designates the depositories of public money. Board of Deposit Members The Ohio Treasurer Josh Mandel, Chairman Auditor of State Dave Yost Ohio Attorney General Mike DeWine Cashier of the State Treasury Stacey Cumberlander, Secretary Purpose of the Board of Deposit The role of the State Board of Deposit (BOD) is to designate the depositories of the public moneys of the state and implement the Uniform Depository Act as it applies to the state. Agency Goals Determine eligibility and designate financial institutions and banks to function as public depositories. Regulate the deposits of state money into these institutions. /News/63 2011-08-09T00:00:00 Cincinnati Enquirer Guest Column By Josh Mandel, State Treasurer of Ohio August 9, 2011 While global financial markets are marred by uncertainty, Ohioans' hard-earned tax dollars are being prudently invested and safeguarded. Read Full Article at Cincinnati.com: http://news.cincinnati.com/article/20110810/EDIT02/108100332/Guest-Column-Financial-prudence-paying-off /News/65 2011-08-18T00:00:00 FOR IMMEDIATE RELEASE             August 18, 2011        Contact: Seth Unger (614) 644-4407            Severe Weather Assistance Available for Northeast Ohioans Impacted by Summer Storms Treasurer’s Office Reduced Rate Loans Can Help Ohioans Rebuild COLUMBUS – Residents in Northeast Ohio who have been impacted by flooding following recent severe storms could be eligible for emergency disaster assistance under Ohio Treasurer Josh Mandel’s Renew Ohio & Rebuild Ohio Programs.  Summit County officials recently declared a state of emergency due to flooding, and communities throughout Cuyahoga County and other parts of the state have been impacted by severe summer storms. In June 2011, Treasurer Mandel initiated a $25 million emergency financing program to assist Ohioans whose small businesses, farms and homes were damaged by flooding and severe weather.  Through the Ohio Treasury’s Renew Ohio & Rebuild Ohio linked deposit programs small business owners, farmers and homeowners affected by the floods and severe weather are now eligible to receive emergency financial assistance in their time of need through interest rate reductions on loans. Due to the continued severe weather this summer, the program has been extended and the deadline for submitting applications has been lifted. “This summer has seen severe storms in Northeast Ohio and throughout the state that have left many residents in need of assistance to rebuild or cover costs associated with damage,” said Treasurer Mandel. “The Renew Ohio & Rebuild Ohio linked deposit programs offer assistance to those impacted by storms through reduced rate loans to help disaster victims get back on track.” As part of the Renew Ohio & Rebuild Ohio programs, the State Treasury has allocated $25 million which will be made available to Ohioans in all 88 counties who have experienced hardship due to flooding and extreme weather this year.  Renew Ohio will assist small business owners and those in the agricultural community who have suffered severe damage or loss as a result of the 2011 flooding and severe weather.  Businesses and farmers can apply to obtain a three percent rate reduction on new or existing loans for construction or to improve cash flow.  The maximum loan amount per applicant is $400,000 for two years.  Rebuild Ohio will assist homeowners applying for repair or construction loans to finance the restoration of their homes.  Homeowners who have suffered severe damage or loss as a result of the 2011 flooding and severe weather will be eligible for a three percent rate reduction on a construction loan of up to $400,000 for a one-year period. For more information on how to apply for the Renew Ohio or Rebuild Ohio programs please contact the Ohio Treasury’s Department of Economic Development by calling (614) 466-6546 or toll-free (800) 228-1102 option 3; or visit the Renew Ohio & Rebuild Ohio page on our website.  For additional information on the Ohio Treasurer’s Office, please visit:  www.OhioTreasurer.gov #### /News/66 2011-07-27T00:00:00 Click here to view the full report /News/67 2011-08-25T00:00:00 Click here to view the full report /News/68 2011-08-31T00:00:00 "Treasurer’s Transparency Project" Puts 2011 Salary Data Online as Part of New OhioTreasurer.gov Website that Encourages Investment in Ohio, Improves Constituent Assistance and Eases Online Payments COLUMBUS – Ohio Treasurer Josh Mandel launched the new OhioTreasurer.gov website today that for the first time in Ohio government history includes a fully searchable state employee salary database with updated 2011 figures.  This is the first time that an Ohio elected official has posted such comprehensive information online in such a user-friendly and searchable manner.  The website has been designed to improve online services for Ohioans, including portals for increased government transparency, investment in Ohio bonds, constituent assistance, expanded online learning and easier access to ePayments.  Ohioans may also view the new website in mobile format on their smartphones. “The new OhioTreasurer.gov website features a comprehensive and searchable state salary database for the first time in Ohio government history as part of my desire to make government more accessible and accountable to Ohioans.  The goal of these transparency initiatives is to help Ohioans follow their tax dollars and see how their hard-earned money is being spent.  The site was designed to leverage technology and improve online services for all Ohioans.  The new OhioTreasurer.gov website aims to help our state government keep up with the best private sector practices by utilizing technology to become more customer-focused and responsive to the needs of Ohio taxpayers and constituents,” said Treasurer Mandel.   “I am very proud of the many new features on the new OhioTreasurer.gov site.  The new investor site will provide valuable information to institutional investors and Ohioans who are interested in buying Ohio bonds.  I believe government should serve the people, which is why there is a strong focus on using online constituent services to assist Ohioans with any problems, issues or questions.  We are also highlighting ePayment options and making online information more accessible to taxpayers, including those with smartphones.” The Treasurer’s website, OhioTreasurer.gov, has new and expanded features for Ohio taxpayers, businesses and constituents who interact with the state, including:   Treasurer’s Transparency Project:  The Treasurer’s Transparency Project features a fully searchable salary database that contains information on public workers across Ohio, including updated 2011 payroll information on state worker salaries, as well as historical salary data on local employees, higher-education officials, teachers, and federal workers.  The website also includes an interactive Ohio map providing data and statistical information about counties across the state including population, median incomes, home values, and tax rates.  Visitors can also easily search through state properties and unclaimed funds, or find information on state finances, investments and cash on hand. Invest in Ohio Portal:  For the first time, the Ohio Treasurer’s office is launching a web portal specifically for investors interested in learning more about Treasurer’s office bond issuances and investment opportunities.  This section will provide updated information about recent and upcoming bond sales, state financial reports, ratings from the major agencies, facts and figures on bond profiles and yield curves, and the latest Ohio investment news.    “Ask Josh” Constituent Service Center:  The website has a renewed focus on constituent services.  There is an “Ask Josh” module on the homepage and on subpages that provides answers to frequently asked questions and encourages Ohioans to submit online questions and requests for assistance to the Treasurer’s office.  Users can also submit questions or seek assistance through direct messages via Facebook at: www.facebook.com/OhioTreasurer or Twitter at: www.twitter.com/OhioTreasurer. Featured ePayments and Forms Sections:  Options for making ePayments and finding government forms are highlighted to make it easier for taxpayers and Ohioans who conduct business with the Treasurer’s office and the state in general. Expanded Online Learning Options:  The site features expanded online learning opportunities, including the ability for public funds managers to take three online courses through the Treasurer’s Center for Public Investment Management (CPIM). Mobile Site for Smartphone Access:  More people use smartphones to access information and conduct business every day, which is why the Treasurer launched a mobile site to allow for quick and user-friendly access to OhioTreasurer.gov from virtually anywhere. Visit the new OhioTreasurer.gov to view these and other new features, and become a friend of the Ohio Treasurer’s office on Facebook at: www.facebook.com/OhioTreasurer or follow the office on Twitter at: www.twitter.com/OhioTreasurer. #### /News/71 2011-09-08T00:00:00 Ohio Receives Top Credit Rating Amidst U.S. Downgrade and Uncertainty    COLUMBUS – Ohio Treasurer Josh Mandel announced today that the State Treasury Asset Reserve of Ohio (STAR Ohio) investment fund, which the Treasurer invests on behalf of school districts and local governments, has received the highest possible rating, AAAm, from Standard & Poor’s rating agency. “The STAR Ohio investment fund is one of the most trusted and stable public investment pools in the country.  Even amidst global economic uncertainty and a historic downgrade of the U.S. credit rating, Ohio has maintained and improved our top credit ratings due to conservative management of taxpayer dollars,” said Treasurer Mandel.  “Our investment strategy focuses first on security and liquidity, while ensuring that local government subdivisions can pool together to generate positive returns on taxpayer dollars.   STAR Ohio’s AAAm rating by Standard & Poor’s proves that the investments of Ohio school districts and local governments remain safe and secure in this top-rated fund.” How STAR Ohio Compares to Other Local Government Investment Funds STAR Ohio is the seventh largest local government investment pool in the nation based on assets held.  STAR Ohio’s receipt of Standard & Poor’s top AAAm rating is in contrast to many other local government investment pools that have received downgrades this year.  S&P recently reported that of the 90 local government investment pools it currently rates, 14 were downgraded in August. Those 14 investment pool sponsors included: Georgia Office of the State Treasurer, Extended Asset Pool  Illinois Metropolitan, 1-3 Year Investment Fund  Broward County, FL, Investment Portfolio Hillsborough County,  FL, Investment Pool  Manatee County, FL, Investment Portfolio  Palm Beach County, FL, Investment Portfolio San Bernardino County, CA, Investment Pool San Mateo County, CA, Treasurer’s Office Investment Portfolio Santa Barbara County, CA, Treasurer’s Investment Pool Solano County, CA, Treasurer’s Investment Pool St. Lucie County, FL, Investment Portfolio  City of Anaheim, CA, Treasurer Investment Pool City of Houston, TX, General Investment Pool  City of Los Angeles, CA, Office of the Treasurer, General Pool                          In addition, last month as the U.S. Credit rating was downgraded, Ohio was upgraded by S&P to AA+ stable from AA+ negative.  This is in contrast to states like Nevada and New Jersey that were downgraded by S&P in 2011.  It also contrasts what happened in Florida in recent years, when the state sought higher yields through risky and legally questionable investments that potentially cost taxpayers hundreds of millions of dollars after the collapse of housing and financial markets in 2008. STAR Ohio Overview   STAR Ohio allows government subdivisions—from municipalities to school districts—to invest funds in a highly rated public investment pool.  On August 31, 2011, the STAR Ohio investment fund's assets totaled $4,120,545,315.45 with 2,786 accounts. School districts are one of the primary users of STAR Ohio, with 963 accounts totaling approximately 36% of all STAR Ohio assets. State custodial funds, cities, counties, townships, villages, libraries and some public hospitals also invest in STAR Ohio. Click here to view PDF for additional resources on the S&P rating, and the situation in other states.   For more information, please visit: www.OhioTreasurer.gov. #### /News/72 2011-09-08T00:00:00 Ohio fund holds its top rating as others tumble The Associated Press  Thursday, September 8, 2011   COLUMBUS, Ohio — Ohio Treasurer Josh Mandel (man-DELL') says STAR Ohio, the state's $4.1 billion investment fund for local governments and school districts, has maintained its AAAm rating from Standard & Poor's... Read the Full Story /News/73 2011-08-30T00:00:00 Public workers' salaries available on Ohio treasurer's new website Tuesday, August 30, 2011 By Joe Guillen, The Plain Dealer  COLUMBUS, Ohio -- Want to know how much your kid’s teacher makes? Or how much the governor is paid? A database of public employee salaries is among the features of a new website the Ohio Treasurer’s office is debuting this week, ohiotreasurer.gov. Read the Full Story /News/74 2011-09-27T00:00:00 COLUMBUS - State Treasurer of Ohio Josh Mandel’s office recently participated in three local personal finance seminars across Ohio designed to help give citizens tools to take better control of their finances.   “Helping Ohio’s citizens gain greater financial independence through education and outreach is an important mission of the Ohio Treasury,” said Treasurer Mandel.  “It’s important that Ohioans are equipped with tools to manage their finances and plan for a successful future.  Programs such as Seniors & Money and Women’s Financial Toolkit provide valuable resources and encourage discussion on strategies to help Ohio residents work towards reaching their goals.” • The Ohio Treasurer’s Seniors & Money workshop was held in Sandusky, Ohio, on Thursday, September 22.  This Seniors & Money workshop was designed to help Ohio’s seniors, and those nearing retirement, make the most of their money through proper budgeting and credit & debt management.  Serving Our Seniors, an Erie County nonprofit organization dedicated to helping seniors maintain their independence, sponsored this event with the Treasurer’s office.  • The Ohio Treasurer’s office participated in the 3rd Annual Women’s Financial Toolkit in Mansfield, Ohio, on Wednesday, September 21.  Over 100 women attended this event, where they learned information on a variety of different topics, including identity theft and scams and consumer protection.  The Treasurer’s office was on hand to provide personal finance tips and financial literacy resources for participants.  • The Treasurer’s office led two Seniors & Money workshops in Pomeroy, Ohio, on Tuesday, September 20.  These events were held in partnership with Farmers Bank and the Middleburg Church of Christ.  These Seniors & Money workshops focused on protecting Ohio’s seniors from scams and fraud. For more information on upcoming financial education programs in your area or to view additional financial education resources please visit www.OhioTreasurer.gov/Financial_Education, join us at www.facebook.com/SmartMoneyChoices or call: 1-800-228-1102, Option 1.   #### /News/75 2011-10-12T00:00:00 By BOBBY WARREN Staff Writer MOUNT EATON -- A manufacturer of Amish-crafted furniture, which is benefiting from a state program that reduces the interest rates on business loans, was visited by Ohio Treasurer Josh Mandel on Tuesday. Read the Full Story /News/76 2011-10-12T00:00:00 By Barb Limbacher TimesReporter.com correspondent Oct 12, 2011 MOUNT EATON — Ohio Treasurer Josh Mandel was in the region Tuesday to tour a business that has benefited from the state’s GrowNOW program. Mandel said he was pleased to be able to visit the facility and see GrowNow at work.   “I am committed to protecting and responsibly investing Ohioans’ hard-earned tax dollars and working on ways to fuel small business growth in Ohio,” he said.   Read the Full Story /News/77 2011-09-15T00:00:00 Written by Zach Davis | | zdavis@toledofreepress.com With the current state of the economic climate, many small businesses have struggled to survive. By taking advantage of the GrowNOW program through the Ohio Treasurer’s Office, however, local business P&J Manufacturing was able to stay afloat. “The money kept us going through a bad time,” P&J Manufacturing owner Peter Harvey said. “We were able to put on a portion of a new roof and will do the other half later this year. We were able to keep all the guys we had, add some new guys and some automation equipment that allowed me to speed things up to get stuff out the door faster.” Read the Full Story /News/78 2011-09-08T00:00:00 By Alan Johnson The Columbus Dispatch - September 08, 2011  Ohio Treasurer Josh Mandel said the state's STAR Ohio investment fund has maintained the highest possible rating, AAAm, from Standard & Poor’s rating agency. The fund is invested by the treasurer for contributing school districts and local governments.   "Even amidst global economic uncertainty and a historic downgrade of the U.S. credit rating, Ohio has maintained and improved our top credit ratings due to conservative management of taxpayer dollars," Mandel said. "Our investment strategy focuses first on security and liquidity, while ensuring that local government subdivisions can pool together to generate positive returns on taxpayer dollars." Read the Full Story /News/79 2011-10-14T00:00:00 CLEVELAND - State Treasurer of Ohio Josh Mandel’s office recently delivered financial education presentations in Northeast Ohio designed to help prepare high school students for college.  The presentation, Preparing for College: Your Financial Future, were held in various Cleveland high schools and allowed freshmen to participate in money management skill discussions and working groups. “By educating Ohio’s high school students as they prepare to leave for college we are helping them lay the foundation for a successful future,” said Treasurer Mandel.  “This presentation gives our students skills that will help prepare them for college and beyond.”      •  On September 28th and 29th the Ohio Treasurer’s office delivered Preparing for College: Your Financial Future, a money management skills presentation to 177 freshman students of Cleveland Central Catholic High School.  •  On October 4th and 5th the Ohio Treasurer’s office delivered Preparing for College: Your Financial Future, a money management skills presentation to 53 freshman students at Glenville High School and 84 freshman students at East Tech High School.  •  On October 11th and 13th the Ohio Treasurer’s office delivered Preparing for College: Your Financial Future, a money management skills presentation to 63 freshman students at Kenmore High School and  35 freshman students at Washington Park High School.  The Treasurer’s office delivered this presentation through the Bridges program as a part of their partnership with the Ohio Foundation of Independent Colleges (OFIC). The Bridges program is offered to select high schools by OFIC with the goal of connecting urban youth, in the Cleveland area, to colleges and universities. Students in the program can earn scholarships from OFIC, up to $40,000, based on the number of workshops attended while attending high school.  For more information on upcoming financial education programs in your area or to view additional financial education resources please visit www.OhioTreasurer.gov/Financial_Education , join us at www.facebook.com/SmartMoneyChoices  or call: 1-800-228-1102, Option 1.   ### /News/80 2011-10-19T00:00:00 By Dave Scott  Beacon Journal staff writer October 19, 2011  Like many companies, Ohio Gasket and Shim was facing lean times in 2008 but needed money to expand. Owners Tom and John Bader didn’t know where to turn for the $500,000 to purchase the laser cutter to make them competitive. “I looked in my pocket, Tom looked in his and we came up with $23,” John Bader said in a meeting Tuesday with Ohio Treasurer Josh Mandel. Mandel and Huntington Bank officials were in Akron to highlight a state program that helped the 82-employee company, part of OGS Industries, get the loan it needed for a Trumpf TruLaser 2030. Read the Full Story /News/81 2011-09-14T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel’s office hosted the Center for Public Investment Management (CPIM) Columbus conference today, providing continuing education for nearly 200 public finance leaders from across Ohio.  The conference was hosted at Columbus State Community College and offered the highest standard of comprehensive education and instruction in the areas of cash management, investments, public finance, management, compliance, and reporting.    “Public fund managers have an important duty to protect the hard earned money of Ohio taxpayers and to keep up-to-date on the best financial practices,” said Treasurer Mandel.  “The courses and training programs offered by CPIM give public finance officials the tools necessary to help ensure that Ohio tax dollars are well managed.”   CPIM Academy offers fundamental and advanced courses on prudent investment strategies and risk management for new and experienced public funds managers alike. Basic level courses deliver the foundation or building blocks of investments and cash management, while the advanced courses address more complex topics.  CPIM's goal is to provide finance officers with investment and risk management strategies so they can manage Ohio’s public funds wisely.   The Columbus conference offered 14 different courses from basic cash management to understanding the finer details of debt management.   Three of these classes were videotaped to be added to the next round of CPIM online course offerings which will be released in late October 2011, improving accessibility and convenience for finance officials throughout the state.   The lunch session presentation by Madison County was titled “Invest in your own Community” and the conference saw the beginning of a new partnership with the Ohio Department of Transportation (ODOT) which gave a presentation on the State Infrastructure Bank.   The last CPIM conference of the 2011 series is scheduled for Wednesday, October 5, 2011, at the University of Akron.   For more information on the conference or its schedule please visit www.OhioTreasurer.gov.     #### /News/82 2011-10-24T00:00:00 COLUMBUS—State Treasurer Josh Mandel recently hosted the Ohio Treasury’s final 2011 Center for Public Investment Management (CPIM) conference in Akron, Ohio, as part of the office’s commitment to continuing education for Ohio’s public funds managers.  The Conference, hosted at the University of Akron on Wednesday, October 5th, offered the highest standard of comprehensive education and instruction in the areas of cash management, investments, public finance, management, compliance, and reporting.  CPIM Academy offers fundamental and advanced course on prudent investment strategies and risk management, so that the Treasurer’s office can meet the diverse educational needs of new and experienced public funds managers from across the state. Basic level courses deliver the foundation or building blocks of investments and cash management, while the advanced courses address more complex topics.  CPIM's goal is to provide public funds managers with investment and risk management strategies so they can manage Ohio’s public funds wisely. “It is our duty as public servants to first and foremost protect the hard earned money of Ohio’s taxpayers,” Treasurer Mandel said.  “The courses and training offered by CPIM give public funds managers the tools necessary to carry out our mission in ensuring that Ohioans’ dollars are well managed.” The Akron Conference offered 14 different courses from basic cash management to understanding the finer details of debt management.   The lunch session presentation by Madison County was titled “Invest in your own Community,” and the Conference saw the beginning of a new partnership with the Ohio Department of Transportation (ODOT), who gave a presentation during the Hot Topics discussion titled “State Infrastructure Bank”. If public funds managers still need to complete further continuing education credit hours to be incompliance with state statute, there are online courses available through the Treasurer’s office at www.ohiotreasurer.gov.  Additionally, public funds managers can attend accredited courses approved by the State Treasurer’s office and offered by professional associations. The Treasurer of State is looking for local presenters and advisory board members for the up and coming 2012 CPIM Conference Series.  For individuals or groups interested in partnerships please contact CPIM at (614) 728-4236 or visit www.ohiotreasurer.gov for more information. #### /News/84 2011-11-09T00:00:00 COLUMBUS — Ohio Treasurer Josh Mandel’s office recently teamed up with Ohio CPA’s to present the Financial Education Teaches Children Healthy Habits® (FETCH!®) program to fifth and sixth grade students at Woodcrest Elementary School in Columbus.  FETCH! is a fun and competitive game sponsored by The Ohio Society of CPAs and The Ohio CPA Foundation that has been presented in more than 300 classrooms across Ohio by CPAs and volunteers.  FETCH! teaches children basic money management skills so they are better equipped to make responsible financial decisions as adults. Students learn how to use their math skills and devise strategies to stay out of debt and put more money in the bank. The program provides a fun way to teach children the relationship between smart spending and saving for their future goals, and teaches students important budgeting and cash management skills that can be used in everyday life. FETCH! was created in 2010 by The Ohio Society of CPAs and its charitable affiliate, The Ohio CPA Foundation, with guidance from elementary teachers and a curriculum developer. It includes a testing component to determine if students have mastered a basic understanding of financial terms. The Ohio Treasurer’s office presents financial education programs as part of an ongoing effort to provide Ohioans with resources so that they can make informed personal finance decisions.  In addition to programs for Ohio’s youth, the Ohio Treasurer’s office partners with financial experts to present “Smart Money Choices” seminars, helps teachers incorporate financial education into K-12 curriculum, and makes online and on-site financial education resources available for all Ohioans.  For more information on upcoming financial education programs in your area or to view additional financial education resources please visit www.OhioTreasurer.gov/Financial_Education , join us at www.facebook.com/SmartMoneyChoices  or call: 1-800-228-1102, Option 1.  #### /News/86 2011-11-29T00:00:00 FOR IMMEDIATE RELEASE  November 29, 2011                                                                        Credits Treasurer Josh Mandel's conservative investment strategy and careful financial management as key factors COLUMBUS – Amidst yesterday's news of Fitch downgrading the United States' outlook from stable to negative, Ohio Treasurer Josh Mandel is announcing Fitch giving the highest possible short term rating of F1+ for Ohio's general obligation (GO) bonds.  Fitch credited the Ohio Treasurer's conservative investment strategy and careful financial management as key factors in making this decision.  Fitch also cited notable increases in the state treasurer's liquidity account, even amidst a struggling economy and tepid national growth, as well as the state's bolstering of its once depleted rainy day fund. “As Treasurer I have focused on tightening the belt of government, reducing budget costs by streamlining operations and eliminating waste, and being a watchdog over Ohio taxpayers' hard earned money.  We have made tough decisions to ensure that even amidst economic volatility, Ohio taxpayer dollars are protected,” said Treasurer Mandel.  “State lawmakers in Ohio have tackled budget deficits and spending imbalances head on, and our credit ratings have improved as a result.  In the Treasurer's office we have worked hard to optimize the state's liquidity portfolio, which has also contributed to these positive credit ratings.” Fitch Ratings affirmed the F1+ short-term rating on Ohio's approximately $650.7 million adjustable rate GO bonds, for which the Treasurer's office provides liquidity.  The F1+ rating is Fitch's best quality grade, and indicates an exceptionally strong capacity for timely payment of financial commitments. In Fitch's credit summary that accompanied the release of Ohio's F1+ rating, they noted, “The rating reflects the strength of the state's general obligation credit, the ample liquidity provided by investments in the state treasurer's liquidity account, and the procedures in place to insure timely payment of optional tenders of bonds that have not been remarketed.”  They also noted, “The investment profile is conservative as the fund is invested in U.S. Treasury and agency securities, highly rated commercial paper, and money market funds.” Fitch also cites Ohio's improved budget stabilization fund balance in their rating.  Ohio's budget stabilization fund reached a low point in 2009 under previous administrations when the fund had been depleted down to just $0.89. In July, Ohio's AA+ credit rating outlook was raised by Standard & Poor's from "negative" to "stable," in part because of conservative management of debt in the Treasurer's office.  This rating was given even as S&P issued a historic downgrade of the federal government. In August, the State Treasury Asset Reserve of Ohio (STAR Ohio) - a $4 billion pooled investment fund for government subdivisions ranging from municipalities to school districts - received the highest rating possible from S&P, AAAm, even as 14 similar state and local government investment pools were downgraded. Related Resources: View the Fitch Ratings Press Release: "Fitch Affirms Ohio's Adjustable Rate GO Bonds with State Liquidity at 'F1+'" Treasurer’s Local Government Investment Fund, STAR Ohio, Receives Highest Rating from Standard & Poor’s View the Fitch Ratings Press Release: Fitch Affirms United States at 'AAA'; Outlook Revised to Negative   # # # # /News/87 2011-11-30T00:00:00 Nov. 30, 2011  COLUMBUS, Ohio -- Fitch Ratings has affirmed its F1+ status for $650.7 million in short-term general obligation bonds issued by Ohio, state Treasurer Josh Mandel reported Tuesday.  The F1+ designation is Fitch Ratings best quality grade for short-term debt. The interest rate on short-term general obligation debt can change every seven days and the holder has the choice of whether he wants to sell the bonds; if so, the bonds are put on the market, a spokesman explains. Read the Full Story /News/88 2011-12-27T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel’s office recently delivered financial education presentations in Northeast and Central Ohio designed to help prepare high school students for college and a successful financial future.   Through partnerships to support financial education and local school districts, the Treasurer’s office continued presenting on the topic of Preparing for College: Your Financial Future and the Real Money, Real World interactive simulation and education curriculum developed by the Ohio State University Extension.  The Preparing for College: Your Financial Future presentation was held in various Cleveland high schools and allowed freshmen to participate in money management skill discussions and working groups.  The Real Money, Real World presentation was presented in Columbus City Schools through the partnership and support of the Save Smart program.  “These partnerships between the Ohio Treasurer’s office and local school districts help provide students with valuable tools to help them make smart money choices and be successful in their financial future,” said Treasurer Mandel.  “These presentations help teach Ohio’s young people money management skills and are designed to prepare them for college and the real world.”  On December 14, 2011 the Ohio Treasurer’s office delivered Preparing for College: Your Financial Future, a money management skills presentation to 88 freshman students at John Adams High School. The Treasurer’s office delivered this presentation through the Bridges program as a part of their partnership with the Ohio Foundation of Independent Colleges (OFIC). The Bridges program is offered to select high schools by OFIC with the goal of connecting urban youth, in the Cleveland area, to colleges and universities. Students in the program can earn scholarships from OFIC, up to $40,000, based on the number of workshops attended during high school.  On December 16, 2011 the Ohio Treasurer’s office presented the Real Money, Real World simulation to Columbus City School graduates and parents as a part of the Save Smart program. Save Smart is a program presented by I Know I Can. I Know I Can is an organization that promotes college attendance and provides funding for Columbus City School graduates.  The Treasurer’s Office presents this simulation as a part of the Save Smart program’s four hour financial literacy requirement. #### /News/89 2012-01-06T00:00:00 On January 23, 2012, State Treasurer of Ohio Josh Mandel will release on OhioTreasurer.gov a Request for Proposal (“RFP”) for the award of active deposits of the public moneys of the State of Ohio for a period of two years commencing on July 2, 2012 (“Designation Period”).  Responses to the RFP shall be received in the Treasurer’s office no later than 3:00 PM on February 27, 2012.  On March 19, 2012, the Board of Deposit will award active deposits for the Designation Period. To hold active or interim deposits during the Designation Period, a financial institution must apply or renew its eligibility as a depository of public funds for the Designation Period.  An application to serve as a public depository for active and interim deposits must be received by the Treasurer’s office by February 27, 2012.  Any application received after that date will be considered only for interim deposits.  All applications are to be in accordance with Ohio Revised Code Chapter 135 and submitted to Josh Mandel, Chairman, Ohio Board of Deposit, 30 East Broad Street, 9th Floor, Columbus, Ohio 43215-3461. On January 23, 2012, the Application/Agreement to Serve as Depository of Public Funds will be available on this website.  /News/90 2012-01-06T00:00:00 On January 23, 2012, State Treasurer of Ohio Josh Mandel will release on OhioTreasurer.gov a Request for Proposal (“RFP”) for domestic custody services and a Request for Information (“RFI”) for international custody services, for assets which under Ohio law are in the custody of the Treasurer, for a period of two years commencing on July 2, 2012.  Responses to the RFP and RFI shall be received in the Treasurer’s office no later than 3:00 PM on February 27, 2012.  The designation of domestic custody services and international custody services will be made on March 19, 2012. /News/91 2012-01-17T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel released a report today outlining the results of the Calendar Year 2011 Top-Bottom Review.  This report builds upon findings released at the end of the 2011 fiscal year, and includes full calendar year results.  “In 2011, I launched a Top-Bottom Review of the Treasurer’s office in order to improve operations, safeguard investments, leverage technology, protect taxpayer dollars, and tighten the belt of state government.  As a result of this review, we were able to return a $400,000 surplus at the end of the fiscal year, and adopt a budget that will reduce general revenue fund operating expenses by $1.2 million in the current biennium,” said Treasurer Mandel.   “I am very proud that we were able to affirm and improve Ohio’s credit ratings and outlook, even in the midst of a historic downgrade of the United States and many other local government investment pools.  We also found many ways to run government more like a business, by modernizing banking practices, reprioritizing resources and eliminating wasteful and unnecessary expenses big and small.” Some highlights of the Calendar Year 2011 Top-Bottom Review report include:  Ohio’s credit rating outlook improved from “negative” to “stable,”  even as the United States was downgraded by Standard & Poor’s and lost its “AAA” rating for the first time in history. STAR Ohio, the $4 billion investment pool that the Treasurer administers on behalf of local governments and school districts, received the highest rating possible (AAAm) the same month that 14 other local government investment pools across the country were downgraded.   In the midst of the European sovereign debt crisis, the Treasurer’s conservative investment strategy allowed Ohio taxpayers to earn back all principal and interest on European bank commercial paper. The Treasurer launched the Treasurer’s Transparency Project to allow taxpayers to follow their tax dollars through a fully searchable database of government employee salaries – for the first time in Ohio government history.   The office eliminated the outdated practice of driving checks from Columbus to Cleveland every day, and replaced it with an ebanking process.   The Treasurer discontinued the purchase or use of promotional giveaway items with the Treasurer’s name engraved or printed on them, and reduced or eliminated spending on promotional materials and advertising expenses. Across the office, the review identified new ways to leverage technology and modernize banking practices, in order to improve efficiency and services for taxpayers.   View the full Calendar Year 2011 Top-Bottom Review report online at www.OhioTreasurer.gov.  # # # # /News/92 2012-01-18T00:00:00 Application process has been streamlined and simplified to better serve Ohio's agricultural community COLUMBUS - Ohio Treasurer Josh Mandel announced today that the 2012 Agricultural Linked Deposit Program (Ag-LINK) application period will begin on Thursday, January 19, 2012 and end on Friday, March 9, 2012 at 5:00 PM.  This will mark the 27th year that the Treasurer's linked deposit program has assisted Ohio farmers. "We are pleased to announce the opening of the 2012 Ag-LINK program application period, and encourage Ohio farmers to participate.  This program allows Ohio's agricultural community to receive an interest rate reduction on loans and lines of credit so they can start the season off on strong financial footing," said Treasurer Mandel.  "Agriculture is vital to Ohio's economy, touching every corner of the state and feeding our residents.  Through the Ag-LINK program, the Ohio Treasurer's office helps farmers receive a reduced rate on their loans, allowing them to invest in much needed supplies like feed, seed, fertilizer and fuel that are crucial to a successful harvest." This will be the first year that the entire Ag-LINK program application will be completed exclusively online.  The application process has been simplified and streamlined in order to take advantage of technology to administer the program and make it more user-friendly for applicants. "As part of my commitment to improve our use of technology to better serve Ohio constituents, we have streamlined the Ag-LINK application process this year so that it will be fully completed online," said Treasurer Mandel.  "Farmers have to deal with enough red tape.  We strive to make the process of applying for an Ag-LINK interest rate reduction as easy as possible." In order to qualify for Ag-LINK, farms must be for-profit with their headquarters and more than half of their operations maintained in Ohio.  To qualify, the farmer must apply and be approved for an operating loan or line of credit from a farm credit lender or an eligible bank.  After approval, the farmer may apply for an interest rate reduction from the Ohio Treasury's Ag-LINK program. Applications must be received by the Treasurer's office no later than Friday, March 9, 2012 at 5:00 PM. Ohio's agriculture industry employs one in seven Ohioans and pumps $98 billion into the state's economy each year.  In 2011, 843 farmers in 67 counties were awarded $68.9 million in Ag-LINK funds across the state, and the average approved loan amounted to $72,000.  Recipients represented a wide variety of businesses within the farming community, including but not limited to traditional farmers and owners of livestock, orchards and nurseries. Below is the timeline for the 2012 Ag-LINK program: The application period begins on Thursday, January 19, 2012. Ag-LINK applications must be received by the Economic Development Department at the State Treasurer's office no later than 5:00 PM on Friday, March 9, 2012. Once the application process has been completed, notification of each application's status will be sent to each lender no later than Friday, April 6, 2012. This year, the State Treasurer's office is requiring lenders to confirm acceptance or denial of the linked deposit for each application they have submitted by Friday, April 13, 2012. This is only to confirm that your borrowers will participate in Ag-LINK. Once the application has been approved and confirmed, funding requests can be submitted beginning April 13th. Funding will begin on Monday, April 16, 2012 and may be requested through Wednesday, June 27, 2012. Requests for funding are due 24 hours prior to the funding date requested. View a printable version of the 2012 Agricultural Linked Deposit Schedule.  Detailed information on the program and eligibility requirements can be found by visiting the State Treasurer's website at www.ohiotreasurer.gov/aglink or by calling the State Treasurer's Economic Development Department at (800) 228-1102 (Option #3). # # #   /News/93 2012-01-17T00:00:00 Press Release from State Representatives Robert Sprague and Brian Hill State Representatives Robert Sprague (R-Findlay) and Brian Hill (R-Zanesville) recently introduced legislation to modify the Agricultural Linked Deposit Program, which supports Ohio’s agricultural community by permitting the Ohio Treasurer of State to invest in eligible lending institutions that then lend money to an eligible agricultural business at a reduced interest rate. Specifically, House Bill 415 will increase the maximum amount that the treasurer may invest in agricultural linked deposits from $125 million to $165 million. It also would increase the maximum amount that can be loaned from $100,000 per application to $150,000 per application. These increased amounts are recommended by the Treasurer of State due to the growth of the state’s investment portfolio and will serve to boost Ohio’s agricultural community. "The Treasurer of State's Ag-Link Deposit Program enables our state to provide low-interest working capital loans that help farmers and the agricultural community,” said Representative Sprague. “This bill will update the program to keep up with the rising cost of farm inputs, and the new limits will ensure the program is relevant in future years." “This pro-jobs legislation is needed to help address the needs of the agriculture industry, a crucial component of Ohio’s economy,” Representative Hill said. “By increasing the maximum low-interest loan amount to $150,000 per applicant, farmers will be able to increase investment in their businesses. This translates to more jobs for Ohioans and will grow the economy.” Reps. Sprague and Hill unveiled the legislation at a press conference with State Senator Bill Beagle (R-Tipp City)—who sponsored the companion legislation, Senate Bill 281—and representatives from the Ohio Treasurer of State’s office and the Ohio Farm Bureau Federation. “With this legislation, the State of Ohio can continue to build upon the already 40,000 farmers that this program has helped over the past 25 years,” said Senator Beagle. “The dollars that are loaned through the Agricultural Linked Deposit Program become direct investment in communities across Ohio through purchasing of equipment, feed, supplies, and seeds.” “Ag-LINK seasonal startup loans can help farmers invest in much needed supplies like feed, seed, fertilizer and fuel that are crucial to a successful business. Ohio farmers deal with enough red tape, and that's why we have streamlined and improved the program over the years,” said Ohio Treasurer Josh Mandel, whose office administers the Ag-LINK program. “This legislation will help codify some of these important changes going forward, which should make it easier for more Ohio farmers to take advantage of Ag-LINK.” "Expansion of the Ag-LINK program has long been supported by the Ohio Farm Bureau and our farmer members,” said Beth Vanderkooi, Director of State Policy for the Ohio Farm Bureau Federation. “We appreciate the leadership of Representatives Sprague and Hill, Senator Beagle and Treasurer Mandel in helping to make the program more accessible to Ohio's farmers. We look forward to working with legislative leadership and stand with our colleagues in agriculture in urging swift passage of H.B. 415 and S.B. 281." House Bill 415 will now be assigned to a House committee. Click here for full release and to view video from the press conference /News/94 2012-03-06T00:00:00 COLUMBUS - Residents in Southern Ohio impacted by tornados and severe weather last week could be eligible for emergency disaster assistance in the form of reduced interest rates on loans under Ohio Treasurer Josh Mandel's Renew Ohio & Rebuild Ohio Programs.  While cities in Clermont County were some of the hardest hit following the tornados, small businesses and homeowners from throughout the state could be eligible to apply for reduced interest rates on construction, restoration, or cash flow loans through the Treasurer's office for damage and hardship resulting from severe weather.   "Many Ohioans in Clermont County and throughout Southern Ohio were devastated by recent tornados and severe weather, and I am deeply saddened for the families and neighborhoods ravaged by this natural disaster.  As homeowners and businesses look to rebuild and recover from damage and loss, the Renew Ohio & Rebuild Ohio linked deposit programs may be able to offer assistance in lowering interest rates on loans," said Treasurer Mandel. "These programs help lower interest rates and are offered to victims of severe weather, and can be used by businesses or farmers for construction or to improve cash flow, or by individuals to finance the restoration of their homes."     Last June, Treasurer Mandel made $25 million available through the Ohio Treasury's Renew Ohio & Rebuild Ohio emergency financing programs to assist Ohioans whose small businesses, farms and homes were damaged by flooding and severe weather.  This linked deposit program targets small business owners, farmers and homeowners affected by severe weather who might be eligible to receive interest rate reductions on loans in order to rebuild and recover from damage or loss. These reduced rate loans are now being made available to Ohioans in all 88 counties who have experienced hardship due to recent tornados and other forms of extreme weather.     Renew Ohio will assist small business owners and those in the agricultural community who have suffered severe damage or loss as a result of the tornados or other forms of severe weather.  Businesses and farmers can apply to obtain up to a three percent interest rate reduction on new or existing loans for construction or to improve cash flow.  The interest rate reduction may be applied on up to $400,000 of the loan for up to four years.     Rebuild Ohio will assist homeowners with an interest rate reduction on loans to finance the restoration of their homes.  Homeowners who have suffered severe damage or loss as a result of the tornados or severe weather will be eligible for a three percent interest rate reduction on up to $400,000 of the loan for a five or seven-year period.   For more information on how to apply for the Renew Ohio or Rebuild Ohio programs please contact the Ohio Treasury's Department of Economic Development by calling (614) 466-6546 or toll-free (800) 228-1102 option 3; or visit the Renew Ohio & Rebuild Ohio page.     #### /News/95 2012-03-14T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel has expanded online Center for Public Investment Management (CPIM) courses for public funds managers in Ohio.  Treasurer Mandel added three new online CPIM courses this year, expanding the total online course offerings to six.      “When I came into office I found many opportunities to leverage technology to improve government efficiency and to run government more like a business.  By expanding online CPIM courses available for public funds managers I believe that we can save taxpayer dollars and improve the level of service to our constituents,” said Treasurer Mandel.  “These valuable continuing education courses help to ensure that public funds managers are diligently managing and investing the public dollars they are entrusted to oversee.  New online CPIM course offerings are designed to save both time and money for local governments and make it more convenient for these stewards of taxpayer dollars to earn required credits.” Public funds managers with four or more years of experience may obtain CPIM credit by completing any of the six online course offerings at www.OhioTreasurer.gov at any time during the year.  These online courses offer 1.25 credit hours each, and can be applied toward meeting CPIM continuing education credits required annually for Ohio’s public funds managers. CPIM Courses Currently Available Online are as Follows: CASH 210: Banking in the 21st Century COMPL 250: The U.S. Federal Reserve & Interest Rate Policy - NEW for 2012 ETH 305: The Ohio Ethics Law & Real Life - NEW for 2012 FIN 302: The “Post Crisis” Municipal Market FIN 310: Understanding the Finer Details of Debt Structuring - NEW for 2012 INV 210: How Economic Indicators Affect Your Portfolio and Your Budget In addition to online courses, the State Treasurer’s office will offer six CPIM conferences this year throughout the state.  Each conference is designed to allow public funds managers to obtain continuing education credits, required annually by Ohio law.  The 2012 CPIM Conference Schedule is listed below: 2012 CPIM Conference Schedule Wednesday, April 25 Roberts Conference Centre Wilmington, OH Wednesday, June 6 Holiday Inn South Independence, OH Wednesday, July 11 Bowling Green State University Student Union Bowling Green, OH Wednesday, August 15 University of Akron Student Union Akron, OH Thursday, September 27 Sinclair Community College David Ponitz Conference Center Dayton, OH Wednesday, October 24 Ohio State University Fawcett Event Center Columbus, OH In addition to the courses sponsored by the Treasurer’s office, CPIM is also continuing a partnership initiative with professional associations within the state of Ohio to award CPIM-approved continuing education hours at association-sponsored annual conferences and training seminars. CPIM Background Ohio law requires various public financial officials to receive continuing training in the areas of finance, investments, cash management, debt issuance, debt management and ethics. This law was passed in the wake of a 1994 financial scandal involving investment losses by local governments. To prevent a repeat of those problems, new training requirements were established by the Ohio Treasury’s Center for Public Investment Management.   For more information on CPIM, or to login and take online courses, please visit: OhioTreasurer.gov/CPIMhome #### /News/96 2012-03-19T00:00:00 Treasurer Designates New International Custodians for Ohio Pension Funds; Move Follows $16 Million Lawsuit Filed by Ohio Attorney General Against BNY Mellon, Prompted by Treasurer-requested Investigation into Foreign Currency Transactions COLUMBUS – State Treasurer of Ohio Josh Mandel has been fighting to protect Ohio pension funds from fraud and illegal activity for the last two years, in the wake of allegations across the country that East coast banks have been systematically exploiting public pension funds and taxpayers.  Treasurer Mandel announced today that he will replace Ohio’s international custodians, Bank of New York Mellon and Boston-based State Street bank, who were appointed to hold public funds under the previous Treasurer and have been accused of defrauding pension funds in Ohio and numerous other states.  The Treasurer today designated new international custodians for $41 billion in international assets of Ohio’s public pension funds.   “As the chief watchdog of Ohio’s tax dollars I feel a responsibility to root out fraud wherever I see or smell it.  The pattern of fraud that has been detailed and alleged across the country against banks entrusted to safeguard funds for Ohio teachers, police, firefighters, and retirees is an extreme breach of the public trust.  I have been fighting against abuse and corruption in banks that serve as international custodians for Ohio pension funds for the last two years, and as Treasurer I feel that I have a duty to end custodial agreements with banks being sued for defrauding taxpayers,” said Treasurer Mandel.  “Last year I requested an investigation into whether banks providing international custody services in Ohio were exploiting pension funds when conducting foreign currency exchange transactions.  I would like to commend Attorney General Mike DeWine for aggressively pursuing banks that may have engaged in illegal activity and for his recent decision to file a lawsuit to recoup $16 million for Ohio pension funds.  His findings reinforced my decision to designate new international custodians for Ohio pension funds to safeguard retiree and taxpayer dollars.” Treasurer Mandel’s move to designate new international custodians follows a $16 million lawsuit filed by Ohio Attorney General Mike DeWine on March 12, 2012, against Bank of New York Mellon alleging fraud, deceptive practices and breach of contract when conducting foreign currency exchange transactions.  State Street is currently being sued by the U.S. Department of Justice and numerous other states over similar fraud and deceptive practice allegations.   After a thorough review of proposals from financial institutions interested in providing custodial services for Ohio, Treasurer Mandel made the decision to replace Bank of New York Mellon and State Street banks and to designate new international custodians for Ohio’s pension funds and other taxpayer supported entities.   Today, Treasurer Mandel designated the following international custodians for the four Ohio public pension funds that deal in international securities: Fund Name New Bank Designee  Prior Designee     Ohio Public Employees Retirement System JP Morgan State Street Ohio Police & Fire Pension Fund  JP Morgan State Street School Employees Retirement System Citi Bank BNY Mellon State Teachers Retirement System Citi Bank State Street International custodians hold investments such as securities, stocks and bonds, and conduct financial transactions on behalf of pension funds.  Treasurer Mandel announced these designations after evaluating proposals from all financial institutions interested in providing international custody services for the state of Ohio, and after consulting with Ohio pension funds.  International custody agreements going forward will include safeguards to protect Ohio pension funds from fraudulent or deceptive practices by banks conducting foreign currency exchange transactions. Background Treasurer Mandel has been leading the fight to investigate and root out fraud and deceptive practices against Ohio pension funds and taxpayers for the last two years.  On June 14, 2011, Treasurer Mandel formally requested that the Attorney General investigate whether international custodians for the pension funds exploited Ohioans through foreign currency exchange transfers.   Last week, Ohio Attorney General Mike DeWine filed a lawsuit against The Bank of New York Mellon for deceptive foreign currency exchange practices.  The lawsuit is on behalf of the Ohio Police & Fire Pension Fund (OP&F) and the School Employees Retirement System (SERS), and alleges breach of contract, fraud, violations of the Ohio Deceptive Trade Practices Act, and unjust enrichment.  Attorney General DeWine is seeking damages in excess of $16 million for losses to OP&F and SERS.  Announcing the lawsuit, Attorney General DeWine alleged that BNY Mellon systematically overcharged these funds on foreign currency transactions and “violated the terms of their custodial agreements with the Ohio funds, and exploited the volatility of the foreign currency market to their advantage at the expense of Ohio pensioners and their families.”   Resources View a timeline of actions taken by Treasurer Mandel and officials in other states over the last two years to investigate and prosecute alleged fraud View Treasurer Mandel’s letter requesting an investigation into banks conducting foreign currency exchanges on behalf of Ohio pension funds View Attorney General DeWine’s announcement that he filed a complaint against the Bank of New York Mellon for deceptive foreign currency exchange practices #### /News/97 2012-03-28T00:00:00 Raises Long-Term Rating to ‘AA+’ from ‘AA-’; First OEBF Ratings Increase Since 2003   COLUMBUS – Rating agency Standard & Poor’s (S&P) today upgraded the Ohio Enterprise Bond Fund (OEBF) to ‘AA+’ from ‘AA-’, citing a very strong risk profile and sound financial policies as key factors.  This was the first OEBF ratings increase by S&P since 2003, when they raised the funds’ ‘A-’ rating to ‘AA-’.  S&P also assigned its ‘AA+’ long-term rating to Ohio’s Series 2012-3 state economic development revenue bonds that State Treasurer of Ohio Josh Mandel’s office will issue for OEBF within the next two weeks.   “S&P’s upgrade of the Ohio Enterprise Bond Fund is the latest in a series of good news for our state, resulting from sound financial management and a conservative investment strategy.  The OEBF was raised two levels to reflect a high level of confidence by ratings agencies, and ample ability to pay debt service,” said Treasurer Mandel.  “This move follows upgrades of Ohio’s general obligation bond credit outlook by S&P, Fitch and Moody’s.  These positive ratings benefit state taxpayers through lower borrowing costs, which in the case of OEBF means that capital is available at lower rates for companies looking to create jobs in Ohio.”   The OEBF will loan the proceeds of the 2012-3 issuance to FWT LLC, a company that designs and fabricates custom steel products for a variety of applications.  They will be utilizing just over $4 million in proceeds to acquire and equip a facility in Defiance County, Ohio.   OEBF was created in 1988 to promote economic development, create and retain quality jobs and assist governmental operations.  The program enables non-profit and for-profit borrowers to access the national capital markets through bonds issued through OEBF.  The program is administered by the Ohio Department of Development and financing is provided by the State Treasurer of Ohio.   Ohio Enterprise Bond Fund; State Revolving Funds/Pools   For more information, please visit: www.OhioTreasurer.gov   #### /News/99 2012-04-12T00:00:00 COLUMBUS – Auditor of State Dave Yost today issued a “clean” audit of Ohio Treasurer Josh Mandel’s office, after a thorough review of accounts and transactions, and an inventory of assets and custodial funds of the state treasury.  The audit was conducted in accordance with Government Auditing Standards and revealed no matters of non-compliance, or internal control weaknesses. “Every week, my office recognizes governments throughout Ohio for their dedication to good bookkeeping.  We know what good books look like, and so does Josh Mandel,” said Auditor of State Dave Yost. “This report reflects a commitment to good reporting and efficient operations.” “I launched a top-bottom review of the Ohio Treasury upon taking office in order to root out waste, increase efficiencies and improve operations.  We have tightened the belt of government to ensure that Ohio taxpayer dollars are secure and conservatively managed,” said Treasurer Mandel.  “I would like to thank Auditor Yost and his staff for their comprehensive review of treasury accounts, transactions and processes, and for their thorough inventory of state assets and custodial funds.  This clean outside audit of the Treasurer’s office affirms that the modernization and improvements we have made to our banking and accounting practices are consistent with the highest in Government Auditing Standards.” Audit Reviews Internal Controls, Inventory and Procedures This annual audit is mandated by state law, and is required to review and report on any significant internal control deficiencies, fraud, or illegal acts – including noncompliance with laws and regulations.  The audit also reviewed whether abuse or noncompliance occurred with contracts and grant agreements that could affect financial accounts.  A key part of the audit is an annual inventory of the state treasury.  This inventory counts all cash and reconciles it with the daily ledger report, physically inspects securities held in trust by the Treasurer as custodian for other agencies, confirms financial institution statements on cash deposits and investment account balances, and reconciles all of these amounts with the Treasurer’s accounting records. The scope of the audit included testing procedures related to cash, securities, deposits, investments, revenue, taxes, collateral, monitoring of service organizations, bank account reconciliations, treasury financial systems, and compliance with certain state laws and regulations for the period July 1, 2010 through June 30, 2011.  Auditor’s ‘Clean’ Report is the Latest Positive Review of the Ohio Treasury The Auditor’s review of Treasury operations is the latest in positive reviews that have been received by the Ohio Treasurer’s office:In July 2011, Treasurer Mandel released a Fiscal Year 2011 Top-Bottom Review that outlined achievements, cost savings and modernized banking practices during the first half of 2011; In September 2011, The Treasurer announced that Standard & Poor’s gave the $4 billion investment pool that the Treasurer manages on behalf of local governments and school districts, STAR Ohio, their highest rating possible as they downgraded the federal government and 14 other similar local government investment pools; In November 2011, Fitch gave the highest possible rating for Ohio General Obligation Bonds as they downgraded the United States’ outlook from stable to negative; In January 2012, Treasurer Mandel released a second Top-Bottom Review for Calendar Year 2011, which outlined more ways the office was safeguarding taxpayer dollars through a conservative investment strategy; and, In March 2012, S&P Upgraded the Ohio Enterprise Bond Fund Ratings Two Notches to ‘AA+’, citing a strong risk profile and sound financial policies.   “I am proud of the strong financial record that the Ohio Treasury is compiling, and believe that our focus on fiscal responsibility and a conservative investment strategy is paying off for Ohio taxpayers,” concluded Treasurer Mandel.   View Management Letter from Auditor of State Dave Yost /News/100 2012-04-19T00:00:00 COLUMBUS – State Treasurer Josh Mandel today announced the 2012 awards for the State Treasury’s 2012 Agricultural Linked Deposit Program.  Farmers from across the state applied for and have been approved to receive $59.1 million in interest rate reductions on operating loans and lines of credit this year.  Over 700 farms have been approved to receive Ag-LINK awards, spanning 64 counties.  “The Ohio Treasury’s Ag-LINK program helps Ohio farmers get the most out of each harvest season, and is an important tool to help reduce the up-front burden of paying for things like feed, seed, fertilizer and fuel,” said Treasurer Mandel.  “Agriculture is one of Ohio’s most important industries, impacting every corner of the state.  Giving Ohio farmers an opportunity to maximize their returns helps all Ohioans and improves the overall economy.” Ag-LINK, an annual program that has been in existence for 27 years, allows Ohio farmers to apply for interest rate reductions on new or existing loans or lines of credit up to $100,000.  Applications to enroll in the program were accepted from January through March of this year.  In order to become eligible for the Ag-LINK program, applicants must meet the following criteria:   Must be organized for profit; Must have headquarters and 51% of operations maintained in Ohio; Must obtain an operating loan or line of credit from an eligible bank or Farm Credit Lender; Must use the loan exclusively for agricultural purposes; Must agree to comply with all program and bank regulations. View a breakdown of 2012 Ag-LINKawards by region and county. This year, Treasurer Mandel joined with legislative sponsors to propose statutory changes to the Ag-LINK program to improve its effectiveness.  These updates are currently working their way through the legislative process.  Among other things, the legislation would raise the maximum amount of an individual loan from $100,000 to $150,000. This limit was initially enacted over 25 years ago, and the Treasurer believes that it is time for this needed adjustment.  The legislation also updates from $125 million to $165 million the amount that will be available for Ag-LINK deposits. In addition to legislative changes, Treasurer Mandel has been seeking to improve the Ag-LINK program administratively.  The application has been streamlined and improved to make it easier for farmers to apply, and for the first time this year’s entire application process was completed online. For more information on the Ohio Treasury’s Ag-LINK program please visit www.OhioTreasurer.gov/AgLink.   /News/101 2012-04-25T00:00:00 COLUMBUS - State Treasurer of Ohio Josh Mandel hosted the Ohio Treasury’s first 2012 Center for Public Investment Management (CPIM) conference today in Wilmington, Ohio.  The Conference, hosted at Roberts Conference Centre, allowed public funds managers to obtain continuing education credits, required annually by Ohio law.    “The CPIM Conference series allows Ohio’s public funds managers to further their continuing education in order to stay atop on the latest news and best practices in the world of public finance,” said Treasurer Mandel.  “The Ohio Treasury is taking a message of fiscal responsibility around the state and online in order to provide public funds managers with excellent opportunities to continue their financial education.” The Wilmington Conference offered 12 different courses from basic cash management to understanding the finer details of debt management.  As part of the Ohio Treasury’s continuing effort to leverage technology, online courses are also now offered.  Six total online course selections are now offered by the Ohio Treasurer’s office for public funds managers with more than four years of experience.  Certain public financial officials are required under Ohio law to receive continuing training and education in the areas of finance, investments, cash management, debt issuance, debt management and ethics.  For more information on the Ohio Treasurer’s office or CPIM, please visit www.OhioTreasurer.gov. #### /News/102 2012-05-24T00:00:00 First-of-its-kind Program a Win for Ohio Taxpayers and Local Economies COLUMBUS – State Treasurer Josh Mandel announced today that Ohio would become the first state in the nation to offer an innovative new program that will provide safe and competitive returns on cash deposits for Ohio local governments and aims to help keep Ohio public funds in Ohio banks.  The STAR Plus program is modeled after established private-sector programs and will allow government funds managers to deposit funds into a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured with no credit or market risk and earn a competitive yield. "This innovative idea is a win for local governments who are tightening their belts and stretching tax dollars, a win for community banks that fuel local economies, and a win for Ohio families because it will foster an opportunity for job creation across Ohio," said Mandel.  “STAR Plus strives to keep Ohio public funds in Ohio community banks, a goal made all the more significant in the aftermath of the Wall Street bank bailouts and era of ‘too-big-to-fail’ programs at the federal level.” STAR Plus was made possible by a new law, HB 209, that Treasurer Mandel supported and the state legislature passed with bipartisan support.  The law seeks to help public funds managers deposit cash reserves in Ohio banks in an effort to help keep local taxpayer dollars in the community banks that fuel local economies and small business growth.  According to data compiled by the FDIC, community banks hold less than 25% of all deposits in the banking system nationally, but make more than 50% of the small business loans. “With the launch of this program, Ohio is leading the nation by example and helping communities invest their taxpayer dollars in banks here at home," said Mandel.  “Local community banks play an important role in providing capital to the small businesses that create jobs for Ohioans.  I urge public funds managers in our townships, counties, cities and school districts to take a look at the program and see if it makes sense for them.” “Community banks can benefit from the program’s goal of redirecting deposits to Ohio community banks,” said Robert L. Palmer, President and Chief Executive Director of the Community Bankers Association of Ohio.  “Community banks have a long and proven track record of making capital available to small business customers which stimulates local economies.  The Community Bankers Association of Ohio is excited about this innovative program, and to work closely with Treasurer Mandel, local governments and the small business community to strengthen the investment we all have in Ohio.” STAR Plus offers local governments a competitive yield compared to investments with similar maturities, such as money market funds, U.S. treasury bills, commercial paper, certificates of deposit, and time deposits.  Currently, STAR Plus yields 25 basis points.     “Many public funds managers across Ohio are experiencing low yields on investments due to historically low interest rates.  The Treasurer’s new STAR Plus program is a welcome option for counties looking for safe investments that provide competitive returns for taxpayers,” said Butler County Treasurer Nancy Nix.  “The fact that this program seeks to place deposits in Ohio banks is an added bonus that can help keep our tax dollars closer to home in local communities.”   STAR Plus is powered by an innovative, patent-pending process that will ensure that government cash deposits have full FDIC insurance coverage from an extensive network of carefully-screened, participating banks.  Public funds managers will create one STAR Plus account for cash deposits. Funds will be deposited in multiple banks to provide the maximum deposit insurance amount as set by the FDIC, currently $250,000, providing the backing of the full faith and credit of the U.S. Government.  The minimum amount required to open a STAR Plus account is $500,000, and the current maximum amount is $10,000,000 per depositor. The program offers daily deposit capability and weekly liquidity with penalty-free withdrawals for public funds managers.   STAR Plus is offered exclusively to STAR Ohio participants and is fully endorsed by the State Treasurer of Ohio, who will provide continuing oversight to ensure that the program remains a safe and reliable option for local public investment officers.   For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov   #### All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security.  Federally Insured Cash Account® satisfies the FDIC’s requirements for agency pass-through deposit insurance coverage. FICA® and Federally Insured Cash AccountSM are registered marks of StoneCastle Cash Management, LLC.  Federally Insured Cash Account ® is not a member of FDIC, but the banks where money is deposited are FDIC members. The FDIC is an independent agency of the U.S. government that protects the funds depositors place in FDIC insured institutions up to $250,000 per institution. FDIC deposit insurance is backed by the full faith and credit of the U.S. government.  If a participant has cash at any depository institution that is in the FICA® network then they may not receive full FDIC insurance coverage on deposits at those institutions. /News/103 2012-05-31T00:00:00 COLUMBUS - State Treasurer of Ohio Josh Mandel announced today that registration has opened for the 2012 Smart Money Choices conference series, which for the first time will offer free post-bankruptcy certification for the budgeting and credit & debt courses.  The Treasurer's Smart Money Choices conference series is a free half-day financial education program open to all Ohioans which will be presented in seven regions across the state with a variety of statewide and regional partners.   "The Smart Money Choices conference series is an excellent opportunity for Ohioans to learn more about personal finance issues.  There is something for everyone, with courses on budgeting, investments, student funding, debt management, retirement, estate planning and more," said Treasurer Mandel.  "My office is excited that this year, for the first time, we will be able to offer a free certified personal financial instructional course to assist Ohioans recovering from bankruptcy.  This conference series helps to equip Ohioans with tools to improve their personal finances by providing free access to financial planning experts."     This year the Ohio Treasurer's office will offer free Post-Bankruptcy Certification during the conference to help Ohioans who are recovering from bankruptcy.*  Ohioans who have recently experienced bankruptcy will benefit from courses taught by financial experts and earn post-filing certification for attendance to the budgeting and credit & debt management courses.     The conference is for Ohioans at every age and stage of life.  A variety of course topics will be offered, including courses on:   •    Student funding & debt management NEW; •    Budgeting; •    Credit & debt management; •    Social Security; •    Consumer scams; •    Estate planning; •    Retirement planning; and •    Investments.     The conferences will be held on Fridays throughout the summer and they begin at 8:00 am continuing until 12:15 pm, with registration beginning at 7:30 am.  The conferences include an opening session, three breakout sessions taught by financial planning experts, and a closing session.  Registration for the 2012 Smart Money Choices conference series is currently open.   For information on locations of Smart Money Choices courses or to register, please visit: http://www.OhioTreasurer.gov/SmartMoneyChoices or call: (800) 228-1102, option #1   *The State Treasurer's office of Ohio, Community Education Department is approved to issue certificates in compliance evidencing completion of a personal financial management instructional course in compliance with the Bankruptcy Code in all jurisdictions of Ohio, Northern and Southern Districts. The debtor education course work (Budgeting and Credit & Debt Management) is approved by the United State Trustee in accordance with 11 U.S.C. §111 and is designed to assist bankruptcy debtors after bankruptcy in their understanding of personal financial management, but does not constitute professional or legal advice. Approval does not endorse or assure the quality of an agency's service.   #### /News/104 2012-06-06T00:00:00 First-of-its-kind Program a Win for Ohio Taxpayers and Local Economies CLEVELAND - State Treasurer Josh Mandel unveiled the innovative new STAR Plus program today to public funds managers for northeast Ohio schools, cities and local governments at a Center for Public Investment Management (CPIM) conference in Cleveland.  This first-in-the-nation program will provide safe and competitive returns on cash deposits for Ohio local governments, which will currently triple the yield over similar investment options in the existing interest rate environment.   "This innovative idea is a win for local governments in northeast Ohio and around the state who are tightening their belts and stretching tax dollars.  Ohio is the first state in the nation to offer this program to local governments that will currently allow them to triple their yield on public fund bank deposits with no credit or market risk," said Treasurer Mandel.  "STAR Plus strives to keep Ohio public funds in Ohio community banks that fuel our local economies.  STAR Plus will allow public funds managers in our townships, counties, cities and school districts to benefit from the program's focus on safety, liquidity and yield."   The STAR Plus program is modeled after established private-sector programs and will allow government funds managers to deposit funds into a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield.   STAR Plus was made possible by a new law, HB 209, that Treasurer Mandel supported and the state legislature passed with bipartisan support.  The law seeks to help public funds managers deposit cash reserves in Ohio banks.  According to data compiled by the FDIC, community banks hold less than 25% of all deposits in the banking system nationally, but make more than 50% of the small business loans.   "Community banks can benefit from the program's goal of redirecting deposits to Ohio community banks," said Robert L. Palmer, President and Chief Executive Director of the Community Bankers Association of Ohio.  "Community banks have a long and proven track record of making capital available to small business customers which stimulates local economies.  The Community Bankers Association of Ohio is excited about this innovative program, and to work closely with Treasurer Mandel, local governments and the small business community to strengthen the investment we all have in Ohio."   STAR Plus offers local governments a competitive yield compared to investments with similar maturities, such as money market funds, U.S. treasury bills, commercial paper, certificates of deposit, and time deposits.  Currently, STAR Plus is yielding 25 basis points.   "Many public funds managers across Ohio are experiencing low yields on investments due to historically low interest rates.  The Treasurer's new STAR Plus program is a welcome option for counties looking for safe investments that provide competitive returns for taxpayers," said Butler County Treasurer Nancy Nix.  "The fact that this program seeks to place deposits in Ohio banks is an added bonus that can help keep our tax dollars closer to home in local communities."   STAR Plus is powered by an innovative, patent-pending process that will ensure that government cash deposits have full FDIC insurance coverage from an extensive network of carefully-screened, participating banks.  Public funds managers will create one STAR Plus account for cash deposits. Funds will be deposited in multiple banks to provide the maximum deposit insurance amount as set by the FDIC, currently $250,000, providing the backing of the full faith and credit of the U.S. Government.  The minimum amount required to open a STAR Plus account is $500,000, and the current maximum amount is $10 million per depositor. The program offers daily deposit capability and weekly liquidity with penalty-free withdrawals for public funds managers.   STAR Plus is offered exclusively to STAR Ohio participants and is fully endorsed by the State Treasurer of Ohio, who will provide continuing oversight to ensure that the program remains a safe and reliable option for local public investment officers.   View a STAR Plus Fact Sheet.  For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov   ####   All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security.  Federally Insured Cash Account® satisfies the FDIC's requirements for agency pass-through deposit insurance coverage. FICA® and Federally Insured Cash AccountSM are registered marks of StoneCastle Cash Management, LLC.  Federally Insured Cash Account ® is not a member of FDIC, but the banks where money is deposited are FDIC members. The FDIC is an independent agency of the U.S. government that protects the funds depositors place in FDIC insured institutions up to $250,000 per institution. FDIC deposit insurance is backed by the full faith and credit of the U.S. government.  If a participant has cash at any depository institution that is in the FICA® network then they may not receive full FDIC insurance coverage on deposits at those institutions. /News/105 2012-06-12T00:00:00 State Treasurer of Ohio Josh Mandel’s Office hosted the first Smart Money Choices Conference of the 2012 summer this past Friday, June 8th in Dayton.  Throughout the day, nearly 170 participants heard presentations on financial education topics including budgeting, Social Security, estate planning, investments, budgeting and credit and debt courses. The Dayton Conference also marked the first time the Ohio Treasurer’s office offered free Post-Bankruptcy Certification.  For their attendance in the budgeting and credit and debt management courses, Ohioans who recently experienced bankruptcy were able to earn post-filing certification.  Smart Money Choices is an annual, free conference series presented by the State Treasurer’s Office.  The conference series, held in different cities around the state, allows Ohio citizens the opportunity to hear from money management professionals on a variety of topics that help them make more informed and knowledgeable decisions in their financial lives.  The Dayton conference attracted attendees of all financial situations and ages, showing that becoming an informed citizen and making smart money choices is important to all Ohioans.  For more information on the conference series and to check out future dates near you, please visit http://ohiotreasurer.gov/smartmoneychoices.   /News/106 2012-06-26T00:00:00 COLUMBUS – Governor John Kasich signed a bill into law today to improve and update the Agricultural Linked Deposit (Ag-LINK) program administered by State Treasurer Josh Mandel’s office.  HB 415 was authored by Representatives Robert Sprague (R-Findlay) and Brian Hill (R-Zanesville) and co-sponsored by Senator Bill Beagle (R-Tipp City) and updates the Ag-LINK program to improve its effectiveness.  Among other provisions, the law raises the maximum amount of an individual loan from $100,000 to $150,000, the first time this limit has been increased since it was initially enacted over 25 years ago.  The law also updates from $125 million to $165 million the annual amount that will be available for Ag-LINK deposits.   “This new law will make Ag-LINK more effective for Ohio farmers, who have benefited from the program for the last 27 years.  Raising the maximum loan limit will help farmers cover more of the up-front costs of things like feed, seed, fertilizer and fuel under one loan, simplifying and improving the process,” said Treasurer Mandel.  “This new law is just one of the ways we are working hard to improve the Ag-LINK program, recognizing the importance of agriculture to Ohio’s overall economy.” “As an owner of a family farm, I know firsthand how this bill will benefit Ohio’s agriculture industry,” said Representative Hill. “I applaud Treasurer Mandel and his team, along with the Ohio Farm Bureau, on their hard work with this piece of legislation.” “The law expands and updates the Ag-LINK Program that has worked for Ohio farmers since the 1980s, but updates and expands it to account for today’s rising cost of inputs, such as seed, fertilizer, and fuel,” said Representative Sprague. “In addition, it keeps money in the local community banks so that they can make loans not only to the agricultural community but also to small businesses to get our economy going.”  Ag-LINK is an annual program that allows Ohio farmers to apply for interest rate reductions on new or existing operating loans or lines of credit.  In 2012, over 700 farms in 64 counties were approved to receive interest rate reductions on more than $63 million in loans.     In addition to the legislative changes signed into law today, Treasurer Mandel has improved the Ag-LINK program administratively.  The application was streamlined and improved to make it easier for farmers to apply, and for the first time this year’s entire application process was completed online.  For more information on the Ohio Treasury’s Ag-LINK program please visit www.OhioTreasurer.gov/AgLink.   #### /News/107 2012-07-02T00:00:00 COLUMBUS - Residents across Ohio impacted by damaging winds and severe weather during storms the weekend of June 30 could be eligible for emergency assistance in the form of reduced interest rates on loans under Ohio Treasurer Josh Mandel's Renew Ohio & Rebuild Ohio Programs.  Small businesses and homeowners who apply for bank loans for construction, restoration, or cash flow for damage and hardship resulting from the recent severe weather may be eligible to receive interest rate reductions through the Treasurer's office. "Extremely high winds and severe weather across Ohio caught many by surprise and resulted in serious damages to many homes and small businesses.  Those looking to rebuild and recover from loss may be eligible for various state and federal programs, including the Renew Ohio & Rebuild Ohio linked deposit programs which can help lower interest rates on loans," said Treasurer Mandel. "These programs can be used by businesses or farmers who are victims of severe weather for construction and to improve cash flow, or by individuals to finance the restoration of their homes."  Treasurer Mandel has made $25 million available through the Ohio Treasury's Renew Ohio & Rebuild Ohio emergency financing programs to assist Ohioans whose small businesses, farms and homes were damaged by severe weather.  The money in this linked deposit program is available and targets small business owners, farmers and homeowners affected by severe weather who might be eligible to receive interest rate reductions on loans in order to rebuild and recover from damage or loss. Renew Ohio will assist small business owners and those in the agricultural community who have suffered severe damage or loss as a result of severe weather.  Businesses and farmers can apply to obtain up to a three percent interest rate reduction on new or existing loans for construction or to improve cash flow.  The interest rate reduction may be applied on up to $400,000 of the loan for up to four years.  Rebuild Ohio will assist homeowners with an interest rate reduction on loans to finance the restoration of their homes.  Homeowners who have suffered severe damage or loss as a result of severe weather will be eligible for a three percent interest rate reduction on up to $400,000 of the loan for a five or seven-year period. The Renew Ohio and Rebuild Ohio programs are able to be used in addition to other state and federal disaster assistance programs that might be available to victims.  For more information on how to apply for the Renew Ohio or Rebuild Ohio programs please contact the Ohio Treasury's Department of Economic Development by calling (614) 466-6546 or toll-free (800) 228-1102 option 3; or visit the Renew Ohio & Rebuild Ohio web page: www.OhioTreasurer.gov/RenewRebuild   #### /News/108 2012-07-11T00:00:00 GREENFIELD - State Treasurer Josh Mandel visited the Greenfield Exempted Village School District and toured McClain High School today to discuss their participation in the innovative new STAR Plus program to help maintain security and improve return on public deposits.  STAR Plus offers local government subdivisions the security of 100% federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Treasurer Mandel’s office.  “This program is ideal for our district because it allows for increased yield over other available investment options, and comes with full federal insurance and no risk of loss on deposits,” said Greenfield Schools Treasurer Joe Smith.  “Greenfield schools intend to utilize the revenues generated by STAR Plus to invest in projects and initiatives that will improve the learning environment for our local students, and to continue our tradition of excellence in education.” “Every dollar counts for local government subdivisions in southern Ohio like the Greenfield Exempted Village Schools who are tightening their belts and stretching resources in the current economic environment,” said Treasurer Mandel.  “STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.” “The STAR Plus program is a great example of Ohio lawmakers taking a proven private-sector financial program and making it available to local governments,” said State Representative Gary Scherer (R-Circleville).  “Lawmakers authorized this program to allow local government subdivisions like the Greenfield schools to put deposits to work generating greater interest to help fund their priorities.” “Innovative programs like STAR Plus are important because they help provide local governments with tools to do more utilizing existing resources,” said State Senator Bob Peterson (R-Sabina).  “This program illustrates how the state can assist local schools and governments even in an era of extremely limited resources.” STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points. For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov  #### /News/109 2012-07-26T00:00:00 POWELL - State Treasurer Josh Mandel met with City of Powell officials today to discuss their recent $937,500 deposit in the innovative new STAR Plus investment program.  STAR Plus offers local government subdivisions the security of 100% federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Treasurer Mandel’s office.   “The City of Powell is excited to participate in STAR Plus, because it is a safe investment alternative that can help us to generate additional interest we can use to fund our local priorities,” said Debra Miller, City of Powell Finance Director. “STAR Plus is a great investment program for us because there is no risk on the investment, it adds diversification and it provides the liquidity we need to meet our weekly cash flow requirements, while earning a very high investment yield.” “As a former City Councilman I know that every dollar counts when it comes to local budgets, particularly in this era of belt tightening,” said Treasurer Mandel.  “STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.” “Ohio lawmakers took a proven private-sector financial program and made it available to local governments when we authorized legislation that made the STAR Plus program possible,” said State Senator Kris Jordan (R-Ostrander).  “STAR Plus is an innovative program to give local governments new tools to put their investments to work generating greater interest on behalf of taxpayers.” “STAR Plus not only allows local governments to generate additional investment revenues, it helps to keep these investments in our local communities,” said State Representative Andrew Brenner (R-Powell).  “This program has an important goal of helping to keep Ohio taxpayer investments in the Ohio community banks that fuel small business growth.” STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.   For more information on STAR Plus, please visit: www.STAROhioPlus.com. #### /News/111 2012-08-08T00:00:00 COLUMBUS – State Treasurer Josh Mandel released the Fiscal Year 2012 Annual Report today, which details ways the office was able to generate a $1.6 million surplus in the fiscal year that just ended, and highlights other efficiencies and accomplishments.  “We have been extremely focused on tightening the belt of government and reducing spending in the Treasurer’s office, which has allowed us to reduce operating expenses and generate a $1.6 million surplus in the fiscal year that just ended.  This surplus is in addition to the $400,000 surplus we achieved from the budget that we inherited upon taking office, and brings the total surplus generated in the Ohio Treasurer’s office over the last 18 months to $2 million,” said Treasurer Mandel.  “We have reduced payroll, slashed expenses, and found ways to save millions by increasing efficiencies in bond programs and maximizing investments in our liquidity portfolio.  We have also launched an innovative new program to help increase investment earnings for local governments, while increasing Ohio credit ratings.” This report follows the Fiscal Year 2011 and Calendar Year 2011 Top-Bottom Review reports released by Treasurer Mandel, and continues to build on and outline many of the ways that the office has been able to streamline and improve operations to achieve savings for Ohio taxpayers.  Some highlights of the current report include that fact that the office was able to: Generate a $1.6 million surplus in Fiscal Year 2012; Reduce budgeted payroll by more than $944,000; Achieve an 11% reduction in operating expenses; Lock in two percent interest rates on economic refundings in four bond programs to save the state $7.9 million in debt service; Launch a new local government investment program, STAR Plus, to help school districts, libraries, cities, and other local entities triple their yield on investments, increasing earnings from 8 to 25 basis points; Receive an upgrade from Standard & Poor’s on the Ohio Enterprise Bond Fund to ‘AA+’ from ‘AA-’, their first ratings increase of this fund since 2003; and, Increase the Treasurer’s Liquidity Portfolio by $2.5 billion since taking office. View the full Fiscal Year 2012 Annual Report at www.OhioTreasurer.gov. #### /News/112 2012-08-09T00:00:00 SANDUSKY - State Treasurer Josh Mandel announced today that the STAR Plus local government investment program has surpassed $100 million in local government deposits and continues to add new accounts each day. The announcement was made at the Community Bankers Association of Ohio Annual (CBAO) Convention in Sandusky, in which Treasurer Mandel encouraged more community banks to become part of the STAR Plus deposit network.  The STAR Plus program, which was publicly launched in May and started receiving deposits in early June, has received very positive feedback from Ohio local government entities and community banks. “We are very pleased with the strong response to STAR Plus in such a short period of time.  Surpassing $100 million in local government deposits into a program that has been live for just eight weeks is a very positive sign,” said Treasurer Mandel. “STAR Plus is a win-win-win that provides full security on deposits, competitive yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.” Over 50 Ohio government subdivisions have established STAR Plus accounts, enabling them to provide security for cash reserves, while maximizing yield to stretch public funds.  The competitive yield offered by STAR Plus provides opportunities for local governments to fund projects and improve services, while also providing safety for public funds. “STAR Plus is a safe investment alternative that will benefit Cleveland Metroparks by allowing us to generate additional interest that we can use to fund projects and programs across the Park District,” said David Kuntz, Cleveland Metroparks Treasurer, after they deposited $10 million into STAR Plus. “The program is the perfect investment option for Cleveland Metroparks, providing the liquidity we need to meet 2012 cash flow requirements.” “Greenfield schools intend to utilize the revenues generated by STAR Plus to invest in projects and initiatives that will improve the learning environment for our local students, and to continue our tradition of excellence in education.” said Joe Smith, Greenfield Schools Treasurer, after the district deposited $9 million into STAR Plus. “The City of Powell is excited to participate in STAR Plus, because it is a safe investment alternative that can help us to generate additional interest we can use to fund our local priorities,” said Debra Miller, City of Powell Finance Director, after the city deposited $937,500. “STAR Plus is a great investment program for us because there is no risk on the investment, it adds diversification and it provides weekly liquidity while earning a very high investment yield.” Treasurer Mandel chose the CBAO conference as the location to announce surpassing the $100 million milestone in local government deposits because CBAO has been an important partner on the STAR Plus program since the beginning.  The program has a goal of helping to keep Ohio taxpayer dollars in Ohio community banks.  According to data compiled by the FDIC, community banks hold less than 25% of all deposits in the banking system nationally, but make more than 50% of the small business loans. “The Community Bankers Association of Ohio is proud to partner with the Ohio Treasurer’s office in support of the STAR Plus program that can keep Ohio taxpayer dollars in local community banks that support small business growth.  STAR Plus, which differs from the STAR Ohio program, makes local government deposits more attractive and viable for many community banks by leveraging FDIC insurance to eliminate the need for expensive collateral,” said Robert L. Palmer, President and Chief Executive Officer of the CBAO.  “STAR Plus strengthens the relationships between local governments and community banks across Ohio because it is designed to be a cost effective investment alternative that benefits both parties and allows the deposits to remain in Ohio to promote economic growth.” STAR Plus is available to STAR Ohio participants and is endorsed by the Ohio Treasurer’s office.  The program provides safe and competitive returns on cash deposits for Ohio local governments.  It is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Funds will be deposited in multiple banks to provide the maximum deposit insurance amount as set by the FDIC, currently $250,000, providing the backing of the full faith and credit of the U.S. Government.  Public funds deposited in the program are fully FDIC insured[1] with no credit or market risk while earning a competitive yield, currently 25 basis points (0.25%)[2].  The minimum amount required to open a STAR Plus account is $500,000, and the current maximum amount is $15 million per depositor. The program offers daily deposit capability and weekly liquidity with penalty-free withdrawals for public funds managers. For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security. 1 FICA® is not a member of FDIC, but the banks where money is deposited are FDIC members. The FDIC is an independent agency of the U.S. government that protects the funds depositors place in FDIC insured institutions up to $250,000 per institution. FDIC deposit insurance is backed by the full faith and credit of the U.S. government. [2] Performance quoted represents past performance, which is no guarantee of future results. Current yield and maximum FDIC insurance coverage is indicative for STAR Plus and may change without notice due to changes in market or business conditions. Current yield is the net yield to client based on APYE for the prior month. For current yield call 1 (855) 648-PLUS (7587).  If a participant has cash at any depository institution that is in the FICA® network then they may not receive full FDIC insurance coverage on deposits at those institutions. Funds may be submitted for deposit only after a depositor enters into an administrative agreement. The account documents contain important information and conditions regarding the depositing of funds; these documents can be found at www.STAROhioPlus.com. /News/113 2012-08-09T00:00:00 NEW RIEGEL - State Treasurer Josh Mandel met with New Riegel Local Schools officials today to discuss their recent $519,741 deposit in the innovative new STAR Plus investment program.  STAR Plus offers local government subdivisions the security of 100% federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Treasurer Mandel’s office.  “In the New Riegel school district, we are excited about Treasurer Mandel endorsing a safe way for us to maximize return on our investments.  As a financial officer I appreciate that the new STAR Plus program allows us to maintain security on deposits, while giving us the flexibility of weekly liquidity,” said Jane Schalk, Treasurer of the New Riegel Local Schools.  “STAR Plus is an innovative new program that will help bring more money into our school district that we can invest in the classroom and use to fund projects that will help us maintain the high quality education we provide to our students.” “Schools and local governments across Ohio are looking for ways to stretch taxpayer dollars and do more with less in this current economic environment,” said Treasurer Mandel.  “STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.  We are excited to make this new investment option available to school districts like New Riegel so that they can earn additional return on investments and put those resources to use educating their students.” “STAR Plus allows local schools like New Riegel to generate additional investment revenues, and helps to keep these investments in our local community banks that support small business growth,” said Senator Dave Burke (R-Marysville).  “The program is working for state taxpayers and the Northwest Ohio economy.” STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.  For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/114 2012-08-10T00:00:00 By ALLISON WINGATE Staff Writer Recording software and an interactive white board were among two classroom innovations demonstrated for Ohio Treasurer Josh Mandel on a tour of New Riegel Local School Thursday afternoon. These technological devices served as examples of ways dollars generated by a $519,741 deposit the school district recently made into the STAR Plus Program could be invested back into student education. "Where the rubber hits the road is the more money schools have, the more they can invest in technology like this and to maximize education for our kids and grandkids in our state," Mandel said of the presentation. Introduced by Mandel in June, the STAR Plus encourages governmental institutions to make deposits with community banks, keeping public funds in Ohio. Those deposits are in turn Federal Deposit Insurance Corporation insured, and do not require collateral. New Riegel Treasurer Jane Schalk said she'd been waiting for a program like STAR Plus to come along, and opted to remove the school's funds from a similar STAR Ohio program in order to take advantage of a higher yield. "We've been waiting for an opportunity just like this, and we were excited to see it," Schalk said. Some banks had previously refused the district's deposit, Schalk said, stating they were not accepting public funds due to collateral required on the accounts. "We were kind of stuck at that point. So this is great. As soon as I got that packet, I said this is what we've been waiting for," she said. Mandel estimated the district stands to make three times the yield on the STAR Plus account, generating public funds for civic projects. "It's one of those few programs that is under the umbrella of the free market that is a win-win-win for tax payers, local government and small businesses," Mandel said. Earlier in the day, Mandel announced the STAR Plus program surpassed $100 million in local government deposits at the Community Bankers Association of Ohio annual convention in Huron. Since the program launched two months ago, 50 governmental entities and more than 20 community banks have signed on, according to Press Secretary Seth Unger. An outspoken opponent of the Wall Street bailout, Mandel said he feels it's important to keep public funds in Ohio. "I think we should be doing everything we can to empower small community banks to grow and be strong. And, I just think it's wrong to give our tax dollars of welfare to the Wall Street banks while community banks are struggling here in the state of Ohio," Mandel said. Senator Dave Burke (R-Marysville), whose district includes New Riegel, joined Mandel on the tour, and sought to make it clear that funds deposited by New Riegel Local School into the STAR Plus account are not the result of a surplus. He explained school revenues are based on the property tax cycles and sit in a reserve until expenditures arrive. "This is a vehicle to safely invest those dollars and maximize the return instead of just leaving those dollars in the mattress, waiting for future payrolls," Burke said. Visit Fostoria Review Times /News/115 2012-08-09T00:00:00 TOLEDO, OH (Toledo News Now) - A new report from the Office of Ohio Treasurer Josh Mandel says the state will head into next year with a projected $1.6 million surplus.  Mandel says about $944,000 of that came from reductions in payroll, but that other small cost cutting measures helped as well. "We shut off unused phone lines, unused fax lines, re-negotiating cell phone contracts, we stopped plant watering contracts, we said we can walk around the office with a bucket and do it on our own, big things and small we've made significant cuts," said Mandel. Read the Full Story /News/116 2012-08-15T00:00:00 AKRON - State Treasurer Josh Mandel presented the innovative new STAR Plus investment program today to public funds managers for schools, cities and local governments at a Center for Public Investment Management (CPIM) conference in Akron.  This first-in-the-nation program will provide safe and competitive returns on cash deposits for Ohio local governments, which will currently triple the yield over similar investment options in the existing interest rate environment.   "STAR Plus is a win-win-win that provides full security on deposits, competitive yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.  It is also offers an important financial tool to local governments across Ohio who are tightening their belts and stretching tax dollars," said Treasurer Mandel.  "Ohio is the first state in the nation to offer this program to local governments that will currently allow them to triple their yield on public fund bank deposits with no credit or market risk.  In just two months since launch, more than 60 Ohio governments have opened accounts with STAR Plus and deposited more than $160 million, which is a very positive sign of strong support. " The STAR Plus program is modeled after established private-sector programs and will allow government funds managers to deposit funds into a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield.   STAR Plus seeks to help public funds managers deposit cash reserves in Ohio community banks.  According to data compiled by the FDIC, community banks hold less than 25% of all deposits in the banking system nationally, but make more than 50% of the small business loans. For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/117 2012-08-01T00:00:00 By BRETT NUCKLES ThisWeek Community News Wednesday August 1, 2012   New investments by the city of Powell will help support the city's rainy-day fund, freeing up dollars for capital improvements, officials say. Last month, the city invested $937,500 in a new state program called STAR Plus. Powell Finance Director Deborah Miller said the program offers triple the return on investment compared with other short-term plans. It offers greater liquidity, allowing the city to withdraw money from its account weekly, penalty-free, without locking up investments for months or years. It also keeps investment dollars in local banks where it can most benefit local communities, state officials said. STAR Plus offers yield rates up to 0.25 percent, compared with other short-term investment programs that average 0.07 or 0.08 percent, Miller said. That could add up to meaningful savings for the city, which ranks interest among its top five sources of revenue. "As soon as I saw it, I knew it was a good fit for the city because we're so small," Miller said. "An extra tenth of a percent really is a big help because all our other revenue sources, after interest income, are really small." The revenue will be directed to the city's rainy-day fund, which is maintained in case of emergency. The city aims to keep an amount equal to roughly 15 percent of its total yearly expenditures in the fund. That could free up other revenue to go toward capital improvements, with which the city has struggled to keep up. In the fall, the city will ask taxpayers to renew the existing parks levy to fund a range of capital projects. "In the city of Powell, we're always looking for ways to fund capital improvement," Miller said. "Right now, our tax base covers our general operating expenses, but we don't have anything for capital improvements." The liquidity of the account means the city can quickly and easily withdraw money in case of emergency, she said. STAR Plus directs investment dollars to federally insured banks, relieving the banks of the need to insure investments made through the program. That allows the banks to offer higher interest rates. It also directs investments to local banks, which supply capital to small-business owners who in return stimulate local economies, said state Treasurer Josh Mandel. "We think it's a win-win-win," Mandel said. '"For taxpayers, it increases the amount of money that can be used to fund the school and libraries and senior centers. It's a win for the cities because it maintains security of their tax dollars. And it's a win for small businesses because it keeps local dollars in the community banks that can then be lent to them." The city may look at options to invest more money through the program in the future, Miller said. Visit Olentangy Valley News /News/118 2012-08-28T00:00:00 COLUMBUS - State Treasurer Josh Mandel announced today that the STAR Plus local government deposit program for cash reserves has surpassed $280 million in local government deposits just two months after receiving its first deposit. STAR Plus is a safe and secure investment option for government subdivisions such as schools, cities, counties, townships, libraries, and other public entities which provides weekly liquidity and very competitive yields. “STAR Plus continues to grow in deposits because it provides local governments with the safety, liquidity and yield that they require, while generating greater return than many other available investment alternatives.  In an era of belt-tightening across Ohio, we are very pleased to be able to offer local governments tools to stretch their resources because we know that in this economy every dollar counts,” said Treasurer Mandel. “STAR Plus participants have told me that the program is allowing schools to invest in technology and put money into classrooms.  It can also allow cities to provide valuable services, and helps government entities diversify their investment portfolios. STAR Plus is a win-win-win for taxpayers, local governments, and community banks across our state that fuel small business growth.” An increasing number of local governments are enrolling in STAR Plus to provide security and increased yield for their cash reserves.  The benefits of this new and innovative program are being felt immediately by government subdivisions across Ohio.  “We've been waiting for an opportunity just like this, and we were excited to see it.  We were kind of stuck at that point. So this is great. As soon as I got that packet, I said this is what we've been waiting for,” said New Riegel Schools Treasurer Jane Schalk after a recent STAR Plus tour with Treasurer Mandel.  “As soon as I saw it, I knew it was a good fit for the city because we're so small. An extra tenth of a percent really is a big help because all our other revenue sources, after interest income, are really small," said City of Powell Finance Director Deborah Miller.  "In the city of Powell, we're always looking for ways to fund capital improvement. Right now, our tax base covers our general operating expenses, but we don't have anything for capital improvements.” Over 92 Ohio government subdivisions have established STAR Plus accounts, depositing $280,035,023 as of August 27.  This includes 35 schools, 11 townships, 12 cities, 9 libraries, and 7 counties, amongst other government entities. STAR Plus is available to STAR Ohio participants and is endorsed by the Ohio Treasurer’s office.  The program provides safe and competitive returns on cash deposits for Ohio local governments.  It is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Funds will be deposited in multiple banks to provide the maximum deposit insurance amount as set by the FDIC, currently $250,000, providing the backing of the full faith and credit of the U.S. Government.  Public funds deposited in the program are fully FDIC insured[1] with no credit or market risk while earning a competitive yield, currently 25 basis points (0.25%)[2].  The minimum amount required to open a STAR Plus account is $500,000, and the current maximum amount is $15 million per depositor. The program offers daily deposit capability and weekly liquidity with penalty-free withdrawals for public funds managers. For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security. 1 FICA® is not a member of FDIC, but the banks where money is deposited are FDIC members. The FDIC is an independent agency of the U.S. government that protects the funds depositors place in FDIC insured institutions up to $250,000 per institution. FDIC deposit insurance is backed by the full faith and credit of the U.S. government. [2] Performance quoted represents past performance, which is no guarantee of future results. Current yield and maximum FDIC insurance coverage is indicative for STAR Plus and may change without notice due to changes in market or business conditions. Current yield is the net yield to client based on APYE for the prior month. For current yield call 1 (855) 648-PLUS (7587).  If a participant has cash at any depository institution that is in the FICA® network then they may not receive full FDIC insurance coverage on deposits at those institutions. Funds may be submitted for deposit only after a depositor enters into an administrative agreement. The account documents contain important information and conditions regarding the depositing of funds; these documents can be found at www.STAROhioPlus.com. /News/119 2012-08-28T00:00:00 AUBURN TOWNSHIP - State Treasurer Josh Mandel met with Auburn Township officials today to discuss the new and innovative STAR Plus investment program.  STAR Plus offers local government subdivisions the security of 100% federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Treasurer Mandel’s office.  Treasurer Mandel discusses the new STAR Plus Program with Auburn Township Fiscal Officer Susan Plavcan and other Auburn Township Officials. “As the fiscal officer of a local government entity, we are always trying to find new ways to make more with less,” said Auburn Township Fiscal Officer Susan Plavcan.  “In today’s economy we have to ensure that we are working to protect our citizens’ hard earned money, while still maximizing return on our investments.  The STAR Plus program helps local governments do just that.” “Local governments have been looking for new and innovative ways to spread their money further,” said Treasurer Mandel.  “STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.  Being able to offer this new and innovative investment program to local governments throughout Northeast Ohio is something I am very excited about.” “Local governments like Auburn Township can use STAR Plus to get a greater rate of return on investments for their taxpayers,” said State Representative Matt Lynch (R-Bainbridge Township).  “This program is a welcomed addition that leaves our communities in a solid financial position.”   STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.  For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/120 2012-08-31T00:00:00 MEDIA COVERAGE Ohio Cities, schools try new investment program Associated Press- August 20, 2012   COLUMBUS, Ohio (AP) - More than 60 Ohio school districts, cities and local governments are taking part in a new state program that can triple the yield on their taxpayer investments. STAR Plus is a program that was launched in June. It adds the flexibility of some private-sector investment programs while securing public cash deposits through carefully screened federally insured banks.   Ohio Treasurer Josh Mandel says the program drives more public deposits to community banks. They hold a quarter of deposits nationally but issue half of all small-business loans. City of Powell Finance Director Debra Miller says the city gets weekly rather than daily access to its money in order to collect higher returns. She says the trade-off has paid off. Participating government entities have invested $160 million through the program so far.   http://www.businessweek.com/ap/2012-08-20/ohio-cities-schools-try-new-investment-program   Ohio State Treasurer Josh Mandel visits Auburn Township to talk about Star Plus program The Lake County Sentinel- August 28, 2012   (AUBURN TOWNSHIP, OH) - State Treasurer Josh Mandel met with Auburn Township officials today to discuss the new and innovative STAR Plus investment program.  STAR Plus offers local government subdivisions the security of 100% federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Treasurer Mandel's office.    Treasurer Mandel discusses the new STAR Plus Program with Auburn Township Fiscal Officer Susan Plavcan and other Auburn Township Officials. "As the fiscal officer of a local government entity, we are always trying to find new ways to make more with less," said Auburn Township Fiscal Officer Susan Plavcan.  "In today's economy we have to ensure that we are working to protect our citizens' hard earned money, while still maximizing return on our investments.  The STAR Plus program helps local governments do just that."   "Local governments have been looking for new and innovative ways to spread their money further," said Treasurer Mandel.  "STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.  Being able to offer this new and innovative investment program to local governments throughout Northeast Ohio is something I am very excited about."   "Local governments like Auburn Township can use STAR Plus to get a greater rate of return on investments for their taxpayers," said State Representative Matt Lynch (R-Bainbridge Township).  "This program is a welcomed addition that leaves our communities in a solid financial position."     STAR Plus is endorsed by the Ohio Treasurer's office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.  For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov.   http://www.lakecounty-sentinel.com/index.php?p=55_39_LakeCounty-Sentinel.com-Ohio-State-Treasurer-Josh-Mandel-visits-Auburn-Township-to-talk-about-Star-Plus-program-08-28-2012     State Treasurer Comes to Geauga Geauga County Maple Leaf- Thursday, August 30, 2012   State Treasurer Josh Mandel met with Auburn Township officials today to discuss the new and innovative STAR Plus investment program.   STAR Plus offers local government subdivisions the security of 100 percent federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Mandel's office.   "As the fiscal officer of a local government entity, we are always trying to find new ways to make more with less," said Auburn Township Fiscal Officer Susan Plavcan. "In today's economy, we have to ensure that we are working to protect our citizens' hard earned money while still maximizing return on our investments. The STAR Plus program helps local governments do just that."   Mandel said local governments have been looking for new and innovative ways to spread their money further.   "STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options and strives to keep public funds in Ohio community banks that fuel our local economies," Mandel said. "Being able to offer this new and innovative investment program to local govern-ments throughout Northeast Ohio is something I am very excited about."   State Rep. Matt Lynch, R-Bainbridge Township, said local governments like Auburn Township can use STAR Plus to get a greater rate of return on invest-ments for their taxpayers.   "This program is a welcomed addition that leaves our communities in a solid financial position," Lynch said.   The STAR Plus program is modeled after established private-sector pro-grams, Mandel said.   It will allow government fund man-agers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation insured banks via a single convenient account, he said.   Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.   http://www.geaugamapleleaf.com/NewsBriefs/   RECENT RELEASES Treasurer Mandel Presents Innovative STAR Plus Program to Public Investment Officers at Akron Conference August 15, 2012   AKRON - State Treasurer Josh Mandel presented the innovative new STAR Plus investment program today to public funds managers for schools, cities and local governments at a Center for Public Investment Management (CPIM) conference in Akron.  This first-in-the-nation program will provide safe and competitive returns on cash deposits for Ohio local governments, which will currently triple the yield over similar investment options in the existing interest rate environment.   "STAR Plus is a win-win-win that provides full security on deposits, competitive yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.  It is also offers an important financial tool to local governments across Ohio who are tightening their belts and stretching tax dollars," said Treasurer Mandel.  "Ohio is the first state in the nation to offer this program to local governments that will currently allow them to triple their yield on public fund bank deposits with no credit or market risk.  In just two months since launch, more than 60 Ohio governments have opened accounts with STAR Plus and deposited more than $160 million, which is a very positive sign of strong support." READ THE FULL RELEASE  STAR Plus Program Shows Strong Growth Surpassing $280 Million in Local Government Deposits August 28, 2012   COLUMBUS - State Treasurer Josh Mandel announced today that the STAR Plus local government deposit program for cash reserves has surpassed $280 million in local government deposits just two months after receiving its first deposit. STAR Plus is a safe and secure investment option for government subdivisions such as schools, cities, counties, townships, libraries, and other public entities which provides weekly liquidity and very competitive yields.   "STAR Plus continues to grow in deposits because it provides local governments with the safety, liquidity and yield that they require, while generating greater return than many other available investment alternatives.  In an era of belt-tightening across Ohio, we are very pleased to be able to offer local governments tools to stretch their resources because we know that in this economy every dollar counts," said Treasurer Mandel. "STAR Plus participants have told me that the program is allowing schools to invest in technology and put money into classrooms.  It can also allow cities to provide valuable services, and helps government entities diversify their investment portfolios. STAR Plus is a win-win-win for taxpayers, local governments, and community banks across our state that fuel small business growth."   READ THE FULL RELEASE ### /News/121 2012-09-10T00:00:00 XENIA – State Treasurer Josh Mandel met with Greene County officials today to discuss the county’s recent $15 million deposit in the innovative new STAR Plus program.  STAR Plus offers local government subdivisions the security of 100% federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Treasurer Mandel’s office.  “STAR Plus provides Greene County with an investment alternative in this historically low interest rate environment that will allow us to reap higher returns for taxpayers.  This is exactly the kind of program we have been looking for,” said Greene County Treasurer Dick Gould, CPA.  “The fact that this program will allow us to generate better yield with the safety of FDIC insurance shoots STAR Plus to the top of attractive investment options for our county.”  “Local governments have been looking for new and innovative ways to stretch their money further, leading local government funds managers across Ohio to ask us to expand on the safe and secure investment alternatives we endorse,” said Treasurer Mandel.  “STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.” “Local governments often express frustration at the lack of quality investment options, and the legislature was happy to work with Treasurer Mandel to make STAR Plus available to help answer this call,” said State Representative Bob Hackett (R-London).  “STAR Plus has the added benefit of helping to direct public deposits into the Ohio community banks that invest in small business growth and help create jobs locally.”  Since the launch of STAR Plus in June, 111 local government subdivisions across the state, from cities and counties to libraries and school districts, have opened accounts.  Deposits in the STAR Plus program have topped $332 million in recent days. STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.  For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/122 2012-09-10T00:00:00 Greene Co. treasurer applauds program Monday, 10 Sep 2012 Pam Elliot XENIA, Ohio (WDTN) - Local governments, schools, and libraries are looking for any return on your tax dollars since there are fewer dollars to go around.  Since they can't afford risky investments, this year entities like Greene County are taking advantage of a new program that strives to keep Ohio public funds in Ohio community banks. It's called STAR Plus and it's made possible through stage legislation that had bi-partisan support.  The program is endorsed by State Treasurer Josh Mandel who visited Greene County's treasurer's office Monday morning.  Mandel and Dick Gould agree everyone wins with STAR Plus. The program works like a certificate of deposit, but governments can take out money weekly as needed without penalty.  Right now Greene County has $15 million invested at an interest rate of .25%.  That might not seem like much but there is virtually no risk because there is FDIC protection. Gould said, "The fact that this program will allow us to generate better yield with the safety of FDIC insurance shoots STAR Plus to the top of attractive investment options for our country." Visit WDTN Story /News/123 2012-09-20T00:00:00 COLUMBUS – State Treasurer Josh Mandel announced today that the Ohio Treasury’s new local government deposit program, STAR Plus, has surpassed $400 million in local government deposits.  The STAR Plus Program which received its first deposit in early June has seen tremendous growth in approximately three months since its inception.  STAR Plus is a safe and secure investment option for government subdivisions such as schools, cities, counties, townships, libraries, and other public entities which provides weekly liquidity and very competitive yields. “STAR Plus has proven to be an attractive investment option for local governments,” Treasurer Mandel said.  “It is a win-win-win for taxpayers, local governments, and community banks across Ohio who are benefitting from an improved rate of return on their investments, federally insured deposits, and a program that helps keep public funds in the Ohio banks that fuel local job growth.”  Since the launch of this program, 122 Ohio government subdivisions have established STAR Plus accounts, depositing $401,282,860 as of September 20.  This includes 51 schools, 12 townships, 15 cities, 14 libraries, and 8 counties, amongst other government entities. STAR Plus is available to STAR Ohio participants and is endorsed by the Ohio Treasurer’s office.  The program provides safe and competitive returns on cash deposits for Ohio local governments.  It is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Funds will be deposited in multiple banks to provide the maximum deposit insurance amount as set by the FDIC, currently $250,000, providing the backing of the full faith and credit of the U.S. Government.  Public funds deposited in the program are fully FDIC insured[i] with no credit or market risk while earning a competitive yield, currently 25 basis points (0.25%)[1].  The minimum amount required to open a STAR Plus account is $500,000, and the current maximum amount is $15 million per depositor. The program offers daily deposit capability and weekly liquidity with penalty-free withdrawals for public funds managers. For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security. 1 FICA® is not a member of FDIC, but the banks where money is deposited are FDIC members. The FDIC is an independent agency of the U.S. government that protects the funds depositors place in FDIC insured institutions up to $250,000 per institution. FDIC deposit insurance is backed by the full faith and credit of the U.S. government. [1] Performance quoted represents past performance, which is no guarantee of future results. Current yield and maximum FDIC insurance coverage is indicative for STAR Plus and may change without notice due to changes in market or business conditions. Current yield is the net yield to client based on APYE for the prior month. For current yield call 1 (855) 648-PLUS (7587).  If a participant has cash at any depository institution that is in the FICA® network then they may not receive full FDIC insurance coverage on deposits at those institutions. Funds may be submitted for deposit only after a depositor enters into an administrative agreement. The account documents contain important information and conditions regarding the depositing of funds; these documents can be found at www.STAROhioPlus.com. /News/124 2012-09-10T00:00:00 By TIFFANY BEVERLY Special Correspondent Xenia Daily Gazette September 10, 2012 XENIA — Ohio Treasurer Josh Mandel stopped at the Greene County Treasurer’s office Monday to see how the new Star Plus Investment program is working out for the county. The Star Plus Ohio program is an investment option that allows Ohio government agencies such as county treasurers and school districts to safely invest money and receive better returns. The Star plus program began in June. Greene County has been a part of the program for a little over a month. The County has invested $15 million in the program. The Star Plus Program is based on the previous Start Ohio Program, only allowed participants to receive .009 percent of interest on the money invested in the program. With the Star Plus program, participants get .025 percent in returns. This program triples returns while keeping the money insured, while investing in local banks with amounts under the $250,000 FDIC limit. According to Greene County Treasurer, Dick Gould, the money invested has yielded around $3,100. “The money goes into the general fund, and adds to the overall moneys available,” said Gould. “It is a much better return than we are getting from the banks.” The funds are also more fluid than with traditional investment programs, such as CDs. Investors in the Star Plus program can make withdraws once a week. State representative for the 84th district, Bob Hackett, stated this program has come just in time. “We are at record low yields, so this is the perfect storm,” said Hackett. The house bill that created the Star Plus Ohio Program was unanimous, according to Seth Unger, Mandel’s press secretary. “This was a good example of state legislators rising above and working together to do what is best,” said Mandel. Visit Xenia Daily Gazette Story /News/125 2012-09-28T00:00:00 Leveraging New Statewide Imaging Software Allows Residents to Help Identify Underutilized and Surplus State Properties COLUMBUS - Ohio Treasurer Josh Mandel has launched new interactive online mapping tools at www.OhioTreasurer.gov to allow Ohioans to view and search state properties and buildings.  The new tools leverage statewide imaging and mapping software, and make detailed information about state owned properties and buildings available to all Ohioans. “We have digitized our state properties database so that for the first time Ohioans can view online images and interactive maps identifying state owned land and buildings,” said Treasurer Mandel.  “My hope is that property owners and residents across the state will leverage this technology to help provide feedback on any properties that may be underutilized or surplus so that the state can sell them or put them to better use.  Surplus properties that we can take off of state rolls and sell should help provide opportunities for economic development while increasing the local tax base.”  The online tools allow Ohioans to search by county, zip code, city or address, and to zoom in and see information on state owned properties and buildings.  Properties are color-coded based on the agency that owns the land, and buildings are identified on the interactive maps with a red dot.  The software allows users to view overhead maps and to zoom in and view actual photographic imagery.  The software also allows users to manually select and view properties, and measure the size of parcels of land and distance from surrounding areas, properties and roadways. The data and software used in the Treasurer’s online tools are provided by the Ohio Geographically Referenced Information Program (OGRIP), which is part of the Department of Administrative Service’s Office of Information Technology. “We are happy to partner with OGRIP to make geographic imaging software and online maps of state properties and buildings available to the public,” said Treasurer Mandel.  “It is a great use of technology to engage Ohioans and allow them to weigh in on state properties in their areas.” The Treasurer’s office is tasked by statute with displaying information on state properties online at www.OhioTreasurer.gov, while OGRIP is tasked with collecting and compiling this information.  County auditors across the state play a large role in maintaining records on state properties, and the individual agencies that own the land are tasked with managing the properties and evaluating whether state land and buildings are being appropriately used or could be considered surplus.  State lawmakers have expressed an interest in working to streamline the process for managing state properties. “Treasurer Mandel’s new online tools are a great first step for the state in providing a new level of transparency, which should help lawmakers focus on issues like how state agencies manage state owned properties,” said State Senator Frank LaRose (R-Copley).  “I believe that we need to streamline our approach to managing state properties, and when appropriate have a uniform and business friendly process in place for selling surplus land and buildings if and when they can be put to better use.” The public is invited to provide input on state properties and buildings, including those that they may believe to be underutilized or surplus.  The Treasurer’s office will then forward this information to the appropriate state agency, such as the Department of Natural Resources, Department of Transportation, or another agency that may be responsible for managing the property.  Media, policy institutions, good government groups, and the general public are also invited to download the state properties database in Microsoft Excel through the site, so that the information can be sorted and searched independently. For more information or to view the Treasurer’s online state property maps and database, please visit: www.OhioTreasurer.gov/StateProperties/StatePropertyMaps.aspx  To contact the Treasurer’s office about a state property, e-mail: StateProperty@tos.ohio.gov. #### /News/126 2012-09-29T00:00:00 Published: Sat, September 29, 2012  By Marc Kovac COLUMBUS The state treasurer’s office has launched an online database that will allow users to map state-owned properties and potentially identify parcels that could be sold to private parties. Republican Treasurer Josh Mandel announced the new system Friday, converting a list of properties and their legal descriptions into an interactive map that can be searched by address, city or county or by the agency that controls a site. “It was really not in a useful format, it was the bare minimum by state law,” Mandel said of the former listing. He added later, “Essentially we’re taking something that the state treasurer has done for a long time, and we’ve taken it from a third-grade level to a Ph.D. level.” Under state law, the treasurer’s office maintains the database, but this is the first time that the a mapping function has been added for the public’s use. The system is accessible through the treasurer’s website (www.OhioTreasurer.gov), and details of about 36,000 state-owned properties are included. A next step in the process will be identifying properties that are not being used that could be sold. Seth Unger, Mandel’s spokesman, said Sen. Frank LaRose, a Republican from Akron, and others are considering legislation that would make it easier to transfer such parcels. “My guess would be there’s probably hundreds, if not thousands, that can be used, sold, leased to folks in the private sector,” Mandel said. He added that the system could be used by companies considering oil and gas leases in eastern Ohio, with the growing use of horizontal hydraulic fracturing, or fracking. View Story /News/127 2012-09-29T00:00:00 The Associated Press Posted: Saturday, Sept. 29, 2012 COLUMBUS, Ohio — Ohio's state-owned properties and buildings can now be searched online. A new interactive tool unveiled Friday by the state treasurer's office pulls together statewide imaging and mapping software into a searchable database. Ohio Treasurer Josh Mandel (man-DEHL') said he hopes Ohioans will use the tool to provide feedback on any properties that might be underused or not used at all. Surplus properties may be taken off the state rolls and sold for extra revenue to taxpayers, he said. Properties can be searched by county, zip code, city or address, and viewed and measured online. They are color coded based on what agency owns the land. Online: State Property Maps: http://bit.ly/QwCN54 Visit Story /News/128 2012-10-24T00:00:00 COLUMBUS - State Treasurer of Ohio Josh Mandel hosted the Ohio Treasury’s last 2012 Center for Public Investment Management (CPIM) conference today in Columbus, Ohio, with 196 registrants.  CPIM conferences allow public funds managers to obtain continuing education credits, required annually by Ohio law.    “The Treasurer’s office has had a very successful CPIM conference series in 2012, helping Ohio public funds managers stay up-to-date on the latest news and best practices in the world of public finance,” said Treasurer Mandel.  “This year over 870 individuals registered for our conference series.  To date, an additional 76 public funds managers were able to take advantage of our online CPIM course library.” The CPIM Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars. Participants can select from a variety of course offerings, taught by leading professionals in their fields of expertise.  The Columbus CPIM Conference offered 12 different courses from basic cash management to understanding the finer details of debt management.  The courses are structured to meet the various levels of education and experience of Ohio’s public funds managers. Modeled after the traditional collegiate structure, the course numbering series is designed to address fundamentals (100-level classes), as well as more advanced topic areas (200 to 400-level classes). As part of the Ohio Treasury’s continuing effort to leverage technology, online courses are also now offered.  Seven online course options are provided by the Ohio Treasurer’s office for public funds managers with more than four years of experience.  The goal of CPIM, as stated in Ohio Revised Code, is to enhance participants’ background and working knowledge in finance, investments, cash management (including debt issuance and debt management), and ethics. For more information on the Ohio Treasurer’s office or CPIM, please visit www.OhioTreasurer.gov/cpimhome or call (800) 228-1102, option #2. #### /News/129 2012-10-30T00:00:00 COLUMBUS - Residents across Ohio impacted by damaging winds and severe weather caused by Hurricane Sandy could be eligible for emergency assistance in the form of reduced interest rates on loans under Ohio Treasurer Josh Mandel's Renew Ohio & Rebuild Ohio Programs.  Small businesses and homeowners who apply for bank loans for construction, restoration, or cash flow for damage and hardship resulting from severe weather may be eligible to receive interest rate reductions through the Treasurer's office.    "In the wake of the devastation that Hurricane Sandy has caused the East and New Jersey Coasts, Ohioans are on watch for flooding, high winds and severe weather.  Any Ohio homeowners and small businesses affected by the storm may be eligible for various state and federal programs, including the Renew Ohio & Rebuild Ohio linked deposit programs which can help lower interest rates on loans," said Treasurer Mandel. "These programs can be used by businesses, farmers or homeowners who are victims of flooding, wind damage, power outages or other forms of severe weather."     Treasurer Mandel has made $25 million available through the Ohio Treasury's Renew Ohio & Rebuild Ohio emergency financing programs to assist Ohioans whose small businesses, farms and homes are damaged by severe weather.  The money in this linked deposit program is available and targets small business owners, farmers and homeowners affected by severe weather who might be eligible to receive interest rate reductions on loans in order to rebuild and recover from damage or loss.    Renew Ohio will assist small business owners and those in the agricultural community who have suffered severe damage or loss as a result of severe weather.  Businesses and farmers can apply to obtain up to a three percent interest rate reduction on new loans for construction or to improve cash flow.  The interest rate reduction may be applied on up to $400,000 of the loan for up to four years.     Rebuild Ohio will assist homeowners with an interest rate reduction on loans to finance the restoration of their homes.  Homeowners who have suffered severe damage or loss as a result of severe weather will be eligible for a three percent interest rate reduction on up to $400,000 of the loan for a five or seven-year period.   The Renew Ohio and Rebuild Ohio programs are able to be used in addition to other state and federal disaster assistance programs that might be available to victims.  For more information on how to apply for the Renew Ohio or Rebuild Ohio programs please contact the Ohio Treasury's Department of Economic Development by calling (614) 466-6546 or toll-free (800) 228-1102 option 3; or visit the Renew Ohio & Rebuild Ohio web page: www.OhioTreasurer.gov/RenewRebuild    ####  /News/130 2012-12-03T00:00:00 By Newsroom December 3, 2012 Fayette Advocate   Small businesses are faced with numerous challenges in today’s economy, and there’s one public official trying to help.   State Treasurer of Ohio Josh Mandel continues to support small business owners through an additional linked deposit program – ReEnergize Ohio.   ReEnergize Ohio offers up to a 3% interest rate reduction on new or existing small business loans when at least 50% of the loan proceeds are used to implement energy-efficient upgrades. Small businesses may apply the interest rate reduction on up to $550,000 of the loan amount for a term of four years.   The cost of energy to run a small business can be significant. ReEnergize Ohio provides a possible money-saving tool to make energy-efficient upgrades and improve energy performance. ReEnergize Ohio benefits small business owners, supports Ohio’s manufacturing industry, and promotes building restoration and historic preservation.   It is easy to apply for ReEnergize Ohio! Check the website www.ReEnergize.Ohio.gov to learn more. Eligible energy-efficient upgrades span a wide array of products and renovations including but not limited to lighting controls, heating and cooling systems, renewable energy systems, weatherization projects, as well as energy-efficient appliances, equipment and vehicles. Explore potential improvements to your small business’ energy performance today.   Contact Treasurer Mandel’s office to learn more about how ReEnergize Ohio can help your small business. Call 1-800-228-1102, option #3, or visit www.ReEnergize.Ohio.gov. View Article /News/131 2012-12-20T00:00:00 COLUMBUS - Ohio Treasurer Josh Mandel sent notice to local government finance officers today that the Federal Deposit Insurance Corporation's (FDIC) Transaction Account Guarantee (TAG) Program is currently set to expire on December 31, 2012. The TAG program was created in 2008 in response to the global financial crisis, and provides an uncapped federal guarantee on funds held at FDIC-insured depository institutions in noninterest-bearing transaction accounts. Treasurer Mandel also detailed investment options offered by the Ohio Treasurer's office that can help local governments maintain security and full FDIC insurance, while earning competitive yield. In his notice to local public funds managers, Treasurer Mandel stated: "While it is possible that the TAG program could be extended before it expires, I would encourage all Ohio government entities to ensure the safety of public funds under their management. If the TAG program does expire on December 31, public deposits held in TAG accounts in excess of the $250,000 FDIC insurance limit must generally be collateralized or moved into a safe investment alternative." The Ohio Treasurer's office makes TAG alternatives available to local government entities through the State Treasury Asset Reserve of Ohio (STAR Ohio) and STAR Plus programs. These secure investment options offer a number of benefits to all Ohio local government subdivisions, including those currently utilizing the TAG program: • STAR Ohio: The STAR Ohio program is a local government investment pool managed by the Ohio Treasurer's office that has maintained Standard & Poor's highest rating possible (AAAm), can accept deposits of any size, offers daily liquidity, and provides a competitive yield (9 basis points as of December 19, 2012). • STAR Plus: The STAR Plus program is a bank deposit program endorsed by the Ohio Treasurer's office that offers full FDIC insurance on local government deposits from $500,000 to $15 million, provides weekly liquidity, and returns a competitive yield (25 basis points as of November 2012). "I am proud to make these programs available to Ohio local government entities, and would encourage public funds managers to consider taking advantage of them," continued Treasurer Mandel. "STAR Ohio and STAR Plus are strong investment alternatives to TAG designed to help ensure that Ohio taxpayer dollars are fully secured, while earning a competitive yield for local schools, cities, counties, and political subdivisions." # # #   /News/132 2013-01-11T00:00:00 Saves Taxpayers $2.6 Million in First Two Years of Treasurer Administration COLUMBUS – Ohio Treasurer Josh Mandel announced an update today on his efforts to streamline the Treasury and increase efficiencies, including a ten percent personnel reduction, declining payroll, and restructuring of the staff leadership team.  After closing the books on two fiscal years in office, Treasurer Mandel has saved taxpayers $2.6 million. “In the Treasurer’s office we continue to build on the success of the 2011 Fiscal Year and Calendar Year Top-Bottom Reviews as we streamline operations, reduce payroll and consolidate personnel.  These efforts allowed us to save taxpayers $2.6 million in our operating budget after two fiscal years,” said Treasurer Mandel.  “I am proud of our accomplishments in the first two years in office, and of the team of professionals that we have in place to protect and invest Ohio taxpayer dollars.  We have found ways to tighten our belt, leverage technology and do more with less while continuing to provide great service to Ohio taxpayers.” The Treasurer’s office payroll in the upcoming budget biennium will continue to decline, as a result of a ten percent personnel reduction from 140 budgeted positions under the prior administration to 126 budgeted positions under Treasurer Mandel.   Budgeted payroll in the Treasurer’s office has declined as follows: Fiscal Years 2010-2011 - $12 million under Treasurer Boyce Fiscal Years 2012-2013 - $10.8 million under Treasurer Mandel Fiscal Years 2014-2015 - $10.4 million under Treasurer Mandel After the books closed on the 2011 and 2012 Fiscal Years, the actual savings generated on behalf of taxpayers was $895,000 and $1,772,000 respectively, a total of more than $2.6 million. Today Treasurer Mandel also announced new leadership restructuring in the Treasurer’s office as part of the continued efforts to streamline operations and consolidate personnel: Seth Metcalf – Deputy Treasurer: Metcalf served as Chief Financial Officer and General Counsel in the Treasurer’s office during the past two years.  Prior to joining the Treasurer’s office he worked as a tax and bond attorney with Squire, Sanders & Dempsey, L.L.P., during which he represented banks, Fortune 500 companies and governmental entities in financial restructurings, mergers and acquisitions and global tax strategy.  Metcalf graduated cum laude with a bachelor's degree from The Ohio State University and holds a J.D. from Cornell University Law School. Michael Lord – Chief of Staff:  Lord served as Senior Policy Advisor in the Treasurer’s office during the past two years, where he oversaw the 2011 and 2012 Top-Bottom Reviews, streamlining of Treasury operations and staff restructuring efforts that helped to generate a $2.6 million surplus.  Prior to joining the Treasurer’s office he was Legislative Aide for Mandel in his State Representative office, where he spearheaded the initiative to make Ohio the first state in the nation to begin divesting pension assets from terrorist-sponsoring countries.  He holds a bachelor’s degree from The Ohio State University. Angela Hawkins – General Counsel:  Hawkins served as Director of Communications and Community Education in the Treasurer’s office during the past two years.  Prior to joining Treasurer Mandel’s administration she was a private sector attorney specializing in Bureau of Workers Compensation cases, an Assistant Attorney General in the Ohio Attorney General’s consumer protection division, and previously served as Deputy Press Secretary under a prior Ohio Treasurer.  Hawkins graduated summa cum laude with a bachelor’s degree from The Ohio State University and holds a J.D. from the University of Minnesota Law School. Conrad Metz – Interim Director of Investments: Metz served as Deputy Chief Financial Officer in the Treasurer’s office during the past year.  Prior to joining the Treasurer’s office he spent over 30 years as a global investment management executive, most recently with Victory Capital Management, a subsidiary of KeyCorp.  Metz holds a bachelor’s degree from the University of California, Berkeley and a Master of Management degree from Ursuline College. Sante Ghetti – Director of Economic Development and the Center for Public Investment Management (CPIM):  Ghetti served as Director of Regional Representatives and Director of CPIM during the past two years.  Prior to joining Treasurer Mandel’s administration he worked for University Hospitals of Cleveland as Program Development Manager, the White House, and under prior administrations in the Ohio Treasurer’s and Ohio Governor’s offices.  Ghetti holds a bachelor’s degree from Ohio University. Robert Field – Director of Treasury Management Services: Field served as the Executive Director of the Ohio Chemical Dependency Professionals Board, responsible for the board’s administrative, fiscal and program activities and initiatives.  He served as a legislative liaison for the Ohio Department of Alcohol and Drug Addiction Services, and was an aide in the Ohio House of Representatives.  He holds a bachelor’s degree from Wofford College, a master’s degree from Clemson University, a master’s in Financial Economics from Ohio University, and is a Lieutenant Colonel in the Army National Guard. Seth Unger – Director of Communications: Unger served as Press Secretary in the Treasurer’s office during the past two years.  Prior to joining the Treasurer’s office, he served as Communications Director for the California Assembly Republican Caucus, Press Secretary for the California Department of Corrections and Communications Director for a California State Senator.  Unger holds a bachelor’s degree from John Carroll University. Chris Berry – Press Secretary: Berry served as Deputy Press Secretary in the Treasurer’s office since 2011.  Prior to joining the Treasurer’s office, he was a staff assistant in the Congressional office of the Speaker in the U.S. House of Representatives.  Berry holds a bachelor’s degree from Miami University of Ohio. Additional directors in the Ohio Treasurer’s office remain: Joe Aquilino – Director of Regional Representatives and Deputy Legal Counsel Jennifer Biedenharn – Director of Accounting Denise Blain – Director of Trust Jennifer Day – Chief Operating Officer Michael Fracassa – Director of Revenue Management Megan Kish – Director of Human Resources and Fiscal Services Dusten Kohlhorst – Director of Information Technology Caren Murdock – Director of Internal Audit For more information on the Ohio Treasurer’s office, please visit: www.OhioTreasurer.gov #### Contact: Chris Berry 614-466-7665 /News/133 2013-01-29T00:00:00 LIMA – State Treasurer Josh Mandel visited Shawnee Local Schools today to discuss the district’s $5.75 million deposit into the Ohio Treasury’s innovative new STAR Plus cash deposit program.  STAR Plus is endorsed by Treasurer Mandel’s office and offers the security of 100% federally insured deposits and a competitive yield to local government subdivisions.   “The STAR Plus program is allowing us to gain a greater yield on our investments while ensuring we improve our educational offerings,” said Paul Nardini, the Superintendent of Shawnee Local Schools.  “We are pleased to be working with Treasurer Mandel in order to maximize local dollars, and this program leaves our district and students better off.”   “School districts can use the STAR Plus program to maximize their return on investment while protecting tax dollars,” said Treasurer Mandel.  “In today’s financial environment, we are happy that we can offer school districts an attractive investment option for education dollars that can help them invest in local classroom initiatives.” Since the launch of STAR Plus, over 250 local government subdivisions across the state, from cities and counties to libraries and school districts, have opened accounts.  Deposits in the STAR Plus program have topped $725 million in recent days. STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program are fully secured with no credit or market risk while earning a competitive yield.   For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/134 2013-02-06T00:00:00 Ohio Treasury Continues to Leverage Technology and Streamline Operations COLUMBUS – Ohio Treasurer Josh Mandel announced today that Ohio farmers can submit online applications for the Ohio Treasury’s 28th year of the Agricultural Linked Deposit Program (Ag-LINK).  Farmers must submit their application by Wednesday, March 13, 2013 at 5:00 PM. “Ag-LINK is an important program and I encourage Ohio farmers to participate,” said Treasurer Mandel.  “Agriculture is a vital component of Ohio’s economy, and this program is one way that the state helps farmers invest in things like feed, seed, fertilizer and fuel.  The interest rate reductions on agricultural loans and lines of credit that we offer help Ohio farmers make the most out of their harvest and start the season out on a strong financial footing.” As part of the State Treasurer’s continuing efforts to leverage technology and streamline operations, Ag-LINK has been modernized and improved through recent legislative changes.  The maximum individual loan limit that was originally enacted over 25 years ago has been updated to account for rising costs for inputs, such as feed, seed, fertilizer and fuel.  Beginning with the 2013 Ag-LINK application, the maximum amount of an individual loan has been raised to $150,000 from $100,000.  The legislature also updated the total funds made available for Ag-LINK in 2013 to $165 million, up from $125 million.  Also this year, lenders will complete and submit the program application exclusively online.  The Treasurer’s office is working to make the program easier to navigate in order to better serve both the lenders and the farmers taking part in Ag-LINK.  In order to participate in Ag-LINK, farms must be for-profit with their headquarters and more than half of their operations maintained in Ohio.  To qualify, a farmer must apply and be approved for an operating loan or line of credit from a farm credit lender or an eligible bank.  After approval, the applicant may apply for an interest rate reduction from the Ohio Treasury’s Ag-LINK program.   Below is the timeline for the 2013 Ag-LINK program: • Ag-LINK applications must be received by the Economic Development Department at the State Treasurer’s office no later than 5:00 PM on Wednesday, March 13, 2013.  • Once the application process has been completed, notification of each application’s status will be sent to each lender no later than Friday, April 5, 2013.  • The State Treasurer’s office is requiring lenders to confirm acceptance or denial of the linked deposit for each application they have submitted by Friday, April 12, 2013. This is only to confirm that the borrowers will participate in Ag-LINK.  • Requests for funding will be accepted from Monday, April 15, 2013 through Wednesday, June 26, 2013.  All funding must be completed by Friday, June 28, 2013. Detailed information on the program and eligibility requirements can be found by visiting the State Treasurer’s website at www.OhioTreasurer.gov/AgLINK or by calling the State Treasurer’s Economic Development Department at (800) 228-1102 (Option #3). # # # /News/135 2013-02-07T00:00:00 COLUMBUS – State Treasurer Josh Mandel announced today that the innovative local government deposit program endorsed by the Treasurer’s office, STAR Plus, has surpassed $760 million in local government deposits.  The STAR Plus Program was launched in June 2012 and has seen tremendous growth since its inception.   STAR Plus is a safe and secure investment option for government subdivisions such as schools, cities, counties, townships, libraries, and other public entities which provides weekly liquidity and a competitive yield. “STAR Plus continues to grow and expand across Ohio as more and more local governments learn of the program and what it can offer,” said Treasurer Mandel.  “As local governments strive to do more with less, my office is pleased to offer the STAR Plus program as a safe investment option that has weekly liquidity and a competitive yield.  STAR Plus is a win-win-win for taxpayers, local governments and community banks across Ohio.” Since the launch of this program, 261 Ohio government subdivisions have established STAR Plus accounts, depositing $760,944,011 as of February 6, 2013.  This includes 107 schools, 36 cities, 18 townships, 32 libraries, and 11 counties, amongst other government entities. The STAR Plus program is also endorsed by the Community Bankers Association of Ohio (CBAO).  STAR Plus includes a preference for deposits to be made with Ohio banks so that money from local governments can be re-directed back to Ohio banks and used for loans to Ohio businesses.   STAR Plus is available to STAR Ohio participants and is endorsed by the Ohio Treasurer’s office.  The program provides safe and competitive returns on cash deposits for Ohio local governments.  It is modeled after established private-sector programs and allows government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Funds are deposited in multiple banks to provide the maximum deposit insurance amount as set by the FDIC, currently $250,000, providing the backing of the full faith and credit of the U.S. Government.  Public funds deposited in the program are fully FDIC insured  with no credit or market risk while earning a competitive yield, currently 22 basis points (0.22%) .  The minimum amount required to open a STAR Plus account is $500,000, and the current maximum amount is $15 million per depositor. The program offers daily deposit capability and weekly liquidity with penalty-free withdrawals for public funds managers.   For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### __________________________________________________ All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security. [1] FICA® is not a member of FDIC, but the banks where money is deposited are FDIC members. The FDIC is an independent agency of the U.S. government that protects the funds depositors place in FDIC insured institutions up to $250,000 per institution. FDIC deposit insurance is backed by the full faith and credit of the U.S. government.   [2] Performance quoted represents past performance, which is no guarantee of future results. Current yield and maximum FDIC insurance coverage is indicative for STAR Plus and may change without notice due to changes in market or business conditions. Current yield is the net yield to client based on APYE for the prior month. For current yield call 1 (855) 648-PLUS (7587).  If a participant has cash at any depository institution that is in the FICA® network then they may not receive full FDIC insurance coverage on deposits at those institutions. Funds may be submitted for deposit only after a depositor enters into an administrative agreement. The account documents contain important information and conditions regarding the depositing of funds; these documents can be found at www.STAROhioPlus.com. __________________________________________________ /News/136 2013-02-13T00:00:00 JACKSON – State Treasurer Josh Mandel visited Jackson High School in Stark County today to discuss the district’s $15 million deposit into the Ohio Treasury’s innovative STAR Plus cash deposit program.  The STAR Plus investment program is endorsed by Treasurer’s office and offers the security of 100% federally insured deposits and a competitive yield to local government subdivisions.  “School districts like Jackson Local Schools are looking for investment opportunities that offer them safety, liquidity and competitive yield,” said Treasurer Mandel.  “The STAR Plus program does just that with fully secured FDIC insurance, weekly liquidity and a competitive yield.  School districts know that with this program their money is safely working to generate a return that will help give teachers new tools to prepare their students for success in a 21st century economy.” “STAR Plus has been a welcome addition to the Jackson Local Schools investment portfolio,” said Christopher DiLoreto, Superintendent of Jackson Local Schools.  “We know that our money is safe and accessible, and our schools appreciate the opportunity to earn a higher rate of return on our community’s investment in our students’ education.” Since the launch of STAR Plus, over 260 local government subdivisions across the state, from cities and counties to libraries and school districts, have opened accounts.  Deposits in the STAR Plus program have topped $760 million in recent days. STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program are fully secured with no credit or market risk while earning a competitive yield.  For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/137 2013-02-20T00:00:00 SPRINGFIELD TWP – State Treasurer Josh Mandel visited Finneytown Local Schools’ Secondary Campus in Hamilton County today to discuss the district’s $10 million deposit into the Ohio Treasury’s innovative STAR Plus cash deposit program.  The STAR Plus investment program is endorsed by Treasurer’s office and offers the security of 100% federally insured deposits and a competitive yield to local government subdivisions.    “The STAR Plus program allows school districts like Finneytown Local Schools access to an investment program with a combination of safety, liquidity and yield that is tough to find in today’s market,” said Treasurer Mandel.  “This program gives schools the opportunity to do more with less, while still ensuring that their money is 100% safe and secure.” “Our school district continually works hard to find the best way to take our tax dollars and make the most out of what our community has given us,” said Finneytown Superintendent Deborah Semenick.  “STAR Plus gives us the peace of mind knowing our money is safe and accessible, yet we are still able to earn a competitive yield.  Programs like this directly impact the quality of education we are able to give our students.” Since the launch of STAR Plus, over 260 local government subdivisions across the state, from cities and counties to libraries and school districts, have opened accounts.  Deposits in the STAR Plus program have topped $810 million in recent days. STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program are fully secured with no credit or market risk while earning a competitive yield.   For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/138 2013-02-22T00:00:00 TWINSBURG – Ohio Treasurer Josh Mandel visited VisiMax Technologies, Inc. in Twinsburg today to discuss local economic issues and the company’s involvement in the Ohio Treasury’s GrowNOW economic development program.  The GrowNOW program is a partnership between eligible banks and the Ohio Treasury designed to assist Ohio’s small business owners receive interest rate reductions on loans or lines of credit. “Small businesses like VisiMax Technologies are helping revitalize the state of Ohio,” said Treasurer Mandel.  “The GrowNOW program helps small business owners as they invest in their business and work to create jobs here in Ohio.  As Ohio’s small businesses continue to have to compete in the global marketplace, it is vital that we do everything we can to support them here at home.” “The GrowNOW program helps our business make the most of what we have,” said Chris Murphy, Co-Owner of VisiMax Technologies, Inc.  “We come to work every day trying to grow and expand and this program is an important tool in helping us do just that.  This particular loan facilitated the purchase of a new optical coating machine which, alone, created three full-time jobs and generated revenues of more than $1,000,000 last year. GrowNOW has helped to free up additional capital that I can reinvest – right here in Ohio – to help VisiMax emerge as a global player within our growing hi-tech industry.” VisiMax Technologies is a precision optical coating services facility, with expertise in thin-film processes for glass and plastic optical components.  They are located in a 7,500 square foot facility in Twinsburg where they operate three shifts per-day. The GrowNOW program enables small business owners to receive up to a 3% interest rate reduction on new or existing small businesses loans for two years with the opportunity for renewal.  Small business owners must commit to the creation or retention of at least one full-time job or two part-time jobs in the state of Ohio for every $50,000 borrowed, up to $400,000.   In 2012, there were 23 new participants in the GrowNOW program in Summit County and together they received over $3.5 million in bank funding.  Statewide, banks lent over $80 million to Ohio small businesses through the GrowNOW program, providing an interest rate reduction for 435 small business owners in 65 counties.   For more information on GrowNOW, please visit: www.OhioTreasurer.gov/grownow.  #### /News/139 2013-02-28T00:00:00 SPRINGFIELD – State Treasurer Josh Mandel visited Clark State Community College today to discuss the school’s $5,500,000 deposit into the Ohio Treasury’s innovative STAR Plus cash deposit program.  The STAR Plus investment program is endorsed by the Treasurer’s office and offers the security of 100% federally insured deposits and a competitive yield to local government subdivisions.   “It is important that schools like Clark State Community College have the tools at their disposal in order to prepare their students for a 21st century economy,” said Treasurer Mandel.  “We live in a global marketplace and any advantage that we can give our schools and educators is important.  STAR Plus is an important tool that allows schools to make the most on their investments.”   “The STAR Plus Program allows Clark State the opportunity to make a greater return on our investment while knowing it is accessible and safe,” said Clark State Community College President Dr. Karen Rafinski.  “We are working every day to prepare our students to compete in a global economy and programs like STAR Plus help us give them the tools needed to succeed."  Since the launch of STAR Plus, over 260 local government subdivisions across the state, from cities and counties to libraries and school districts, have opened accounts.  Deposits in the STAR Plus program have topped $830 million in recent days. STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program are fully secured with no credit or market risk while earning a competitive yield.   For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov. #### /News/140 2013-03-05T00:00:00 CARROLL – Ohio Treasurer Josh Mandel visited Precision CNC in Carroll today to discuss local economic issues and the company’s involvement in the Ohio Treasury’s GrowNOW economic development program.  The GrowNOW program is a partnership between eligible banks and the Ohio Treasury designed to help Ohio’s small business owners receive interest rate reductions on loans or lines of credit. “Small businesses such as Precision CNC can use the GrowNOW program to receive an interest rate reduction on loans so that they can invest in equipment, technology and improvements to their business in order to create and maintain jobs and grow their company,” said Treasurer Mandel.  “The success of small businesses in Ohio is vital for a healthy economy and this program helps to create an environment in our state that welcomes growth and expansion.” “As a small business we work every day to find ways to grow and expand while maintaining a healthy bottom line and remaining financially sound,” said Precision CNC co-owner Nathan Hawkins.  “The GrowNOW program has helped us to make investments in machines and computer automation that will allow us to remain competitive in a global economy.” Precision CNC is a manufacturing facility that serves a wide variety of industries, including: automation, aerospace, defense and automotive.  The company has used the GrowNOW program to assist with financing their purchase of specialized multi-axle capable machines with computer automation.   The GrowNOW program enables small business owners to receive up to a 3% interest rate reduction on new or existing small businesses loans for two years with the opportunity for renewal.  Small business owners must commit to the creation or retention of at least one full-time job or two part-time jobs in the state of Ohio for every $50,000 borrowed, up to $400,000.   For more information on GrowNOW, please visit: www.OhioTreasurer.gov/grownow.  #### /News/142 2013-03-22T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel has continued his mission of leveraging technology in the Treasurer’s office by expanding the Center for Public Investment Management to include seven online courses for 2013.  The seven courses offered to Ohio’s public funds managers are the most ever offered online by the Ohio Treasurer’s office.   “At the Ohio Treasury we continue to seek ways to leverage technology and run government more like a business,” said Treasurer Mandel.  “By expanding our online offerings of CPIM courses we seek to save taxpayer dollars while providing valuable resources to help Ohio’s public funds managers navigate complex financial markets.  CPIM offers important tools to help local investment managers stay up-to-date and safely steer the public funds they are entrusted to oversee.” Public funds managers with more than two years of experience may obtain CPIM credit by completing any of the seven online course offerings at www.OhioTreasurer.gov/CPIMhome at any time during the year. These online courses offer 1.00 or 1.25 credit hours each, and can be applied toward meeting CPIM continuing education credits required annually for Ohio's public funds managers. CPIM Courses currently available online are as follows: In addition to online courses, the State Treasurer's office will offer six CPIM conferences in 2013 throughout the state. Each conference is designed to allow public funds managers to obtain continuing education credits, required annually by Ohio law.  The 2013 CPIM Conference Schedule is listed below: CPIM Background Ohio law requires various public financial officials to receive continuing training in the areas of finance, investments, cash management, debt issuance, debt management and ethics. This law was passed in the wake of a 1994 financial scandal involving investment losses by local governments. To prevent a repeat of those problems, new training requirements were established by the Ohio Treasury's Center for Public Investment Management. For more information on CPIM, or to login and take online courses, please visit:  www.OhioTreasurer.gov/CPIMhome  # # # # /News/143 2013-04-01T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel joined Ohio Attorney General Mike DeWine in spreading consumer protection awareness throughout the month of March as part of a greater effort to educate Ohioans during National Consumer Protection Week (NCPW).  NCPW was celebrated this year during the week of March 3 – 9 and is intended to raise awareness for consumers and give them the information necessary to make better-informed decisions. The Ohio Treasurer’s office joined forces with the Attorney General’s office to provide financial education materials and served as panelists during senior resource fairs that were held across the state throughout March.  Consumer Protection events in which the Treasurer’s office served as panelists included: Athens, Austintown, Columbus, Dayton, Mansfield, Marietta and Piqua. “Giving Ohioans the information needed to make sound personal financial decisions is at the forefront of our goals to empower Ohioans in helping them make smart money choices,” said Treasurer Mandel.  “We were proud to partner with Attorney General Mike DeWine’s office in spreading this message during National Consumer Protection Week and throughout the entire month of March.”   “Providing consumers with information on common scams and pitfalls as well as smart financial practices is what National Consumer Protection Week is all about,” said Ohio Attorney General Mike DeWine.  “The more information we can share, the better.” Partnering in these events allowed the Treasurer’s office to join with government and nonprofit organizations in the mission of educating Ohio’s residents to make smart money choices.  The Ohio Treasurer’s office offers a vast variety of financial education tools, resources and workshops that are apart of Treasurer Mandel’s commitment to providing Ohioans with the knowledge they need to make more informed personal finance decisions.   For more information on the Ohio Treasury’s personal finance programs please visit www.ohiotreasurer.gov/financial_education.   #### /News/144 2013-04-02T00:00:00 by Conner Howard Twinsburg Bulletin Twinsburg -- City finances may benefit from better interest rates and more flexibility offered by a state-level investment fund. The Ohio STAR Plus program, modeled after private-sector banking practices and launched by Ohio State Treasurer Josh Mandel in April 2011, offers interest yields of .22 percent, and penalty-free withdrawals to any community across the state of Ohio that chooses to participate in it. STAR Plus is insured by the Federally Insured Cash Account program. Finance Director Karen Howse said March 26 she wants to place $1 million in city funds in the STAR Plus program, and the Twinsburg Investment Board, which comprises Howse, Councilor Bill Furey, Law Director Dave Maistros and Mayor Katherine Procop, voted 3-0 to approve this initial transfer. The decision does not require Council approval as the funds are going into a federally-backed savings account. Howse said STAR Plus will give the city the flexibility to deposit and withdraw city funds at-will, as well as accrue higher interest yields than the current CD funds in which the city currently invests. READ FULL ARTICLE /News/145 2013-04-01T00:00:00 By Lou Whitmire News Journal “In Youngstown, they’re putting on line the first new steel plant in over 50 years ... manufacturing pipes and tubes and fittings for oil and gas. In Lorain County, 100 new jobs with U.S. Steel to make steel ... Because of the great tradition here in Richland County of manufacturing, I think the county and many family manufacturing companies here can be a leader nationally in supporting exploration in the Utica and Marcellus,” Mandel said, amid producing products for other gas and oil locations in the United States and other parts of the world including Brazil.   READ FULL STORY By Greg Heindel WMFD-TV Mansfield Mandel says he chose to come here because he believes Richland County can help lead Ohio's economic recovery.  He held the meeting at Gorman-Rupp because it makes pumps and products that support and create jobs for many important industries, such as agriculture, defense, and oil and gas drilling. READ MORE AND WATCH NEWSCAST /News/146 2013-03-15T00:00:00 By Ed Runyan Youngstown Vindicator Republican Ohio Treasurer Josh Mandel met with about 10 local business officials at the Youngstown/Warren Regional Chamber offices Thursday to get a better understanding of issues they care about. Not surprisingly, they mostly agreed that state and federal regulatory and taxing policies should be aimed to “get out of the way” of business. READ FULL ARTICLE /News/147 2013-04-04T00:00:00 By Kelly Taylor Fox 19, Cincinnati CLIFTON, OH - The Ohio Treasurer paid a visit to a local high school on Thursday.  Josh Mandel toured and met with students and faculty from DePaul Cristo Rey High School in Clifton. Mandel discussed his support of school choice, including private schools like DePaul Cristo Rey, and what's best for children should be in the hands of their parents and not the State of Ohio.  He said schools like DePaul Cristo Rey are paving the way for urban students in Ohio. "What Cristo Rey is doing right here in Cincinnati is taking kids, some from rough upbringings, and giving them an opportunity to succeed throughout this country," said Mandel.  The school provides students with economic need to obtain a Catholic education funded through a corporate work-study program. READ FULL STORY /News/148 2013-04-08T00:00:00 EAST CLEVELAND – Ohio Treasurer Josh Mandel’s office provided a Real Money Real World workshop today at Shaw High School in East Cleveland as part of a statewide effort to increase student financial literacy. The Real Money Real World interactive budget simulation is intended to increase students’ awareness of the impacts of financial choices on home budgeting. This event is part of the Treasurer’s continued efforts to bring awareness to financial education during the month of April, which is National Financial Literacy month.  “Educating students on the importance of financial literacy helps ensure that kids graduate high school with a strong foundation to face whatever comes next,” said Treasurer Mandel.  “Programs like Real Money Real World put students in real world scenarios to teach them skills needed for everyday life.  Understanding how to manage a budget and take charge of personal finances helps young adults make smart money choices throughout their lives.”   As part of the Real Money Real World budget simulation, students are given a fixed income and are dealt financial obligations. They are then asked to budget for such expenses as: child care, clothing, communications, entertainment, food, housing, insurance, student loans, transportation, utilities, etc. Their spending and expenses must meet their income, often requiring tough decisions and encouraging thoughtful discussion on prioritizing financial obligations.  Ohio Senate Bill 311, passed in 2007, requires financial literacy to be taught as part of the Ohio Core Education Standards. The law requires schools to integrate the study of economics and financial literacy into each student’s course of study prior to graduation, beginning with the class of 2014. The Treasurer’s office is available to provide financial education resources at no cost to educators as they implement this requirement in their school.  #### /News/149 2013-04-09T00:00:00 COLUMBUS – At a press conference at the Ohio Statehouse today, State Rep. Kristina Roegner (R-Hudson) and Ohio Treasurer Josh Mandel announced legislation that will increase transparency for taxpayers as local and state issues are placed on the ballot.  Rep. Roegner will introduce the bill tomorrow and it is co-sponsored by Reps. Adams, Blair, Dovilla, Duffey, Hood, Terhar, Thompson and Wachtmann.  The bill, a collaboration between Treasurer Mandel and Rep. Roegner, would require that political subdivisions disclose information such as their total outstanding debt and debt service, the per capita obligation of that debt, and the total estimated amount of debt and per capita obligation if the issue were to pass.  This information would be required on enabling legislation, ballot language, and all notices of the bond issuance. “The amount of debt, which government at all levels continues to increase, has rightfully become a matter of concern for many,” Rep. Roegner said. “When going to the polls to decide if we as taxpayers wish to incur additional debt, we ought to be able to see the big picture, which includes how much debt is currently outstanding and what that means per person. Having this additional information will help the voters make a more informed decision when casting their vote. This is all about transparency.” In Ohio, political subdivisions may seek to issue general obligation bonds, secured by its full faith and credit, to finance permanent improvements.  For a political subdivision to place a bond issue on the ballot under current law, it must pass legislation including: the need and purpose of the bond; the date of the election when the issue will be before the voters; the principle amount, date of issuance, estimated interest rate, and length of the bond; and the necessity of levying a tax to make the payments on the bond. The amount of outstanding debt, however, is not currently required to be included. “It is important for Ohio taxpayers to know exactly what’s in front of them when they’re in the voting booth,” said Treasurer Mandel.  “This legislation will ensure more transparency for taxpayers and enable them to know the fiscal health of their local government and state government before voting on more debt.  As a watchdog of Ohioans’ hard-earned tax dollars, I am committed to casting sunlight on government spending and debt so that taxpayers know where their money is going.” If enacted, the bill would require the additional disclosure information as part of the subdivision’s legislation, the ballot language, the newspaper announcement of the issue at least 10 days before the election, and a new requirement that it be published on the board of elections website in the county that the issue is being considered—with recognition that more voters are gathering information online. The legislation will now undergo further consideration in the Ohio House of Representatives. View comparison of existing ballot requirements versus proposed ballot requirements. #### /News/150 2013-04-10T00:00:00 by MARC KOVAC | CAPITAL BUREAU CHIEF News Leader Columbus -- Local governments would have to disclose their total debt obligations and per-capita implications when asking voters' permission to borrow more money, under legislation being introduced in the Ohio House this week. Rep. Kristina Roegner, a Republican from Hudson, said the proposed law changes would provide voters with a clearer picture of public debt so they could make better-informed decisions at the polls. READ FULL STORY /News/151 2013-04-10T00:00:00 By Sara Jerde The Columbus Dispatch    Ohio’s local governments soon might be required to give voters more information about their bond issuances in an effort to improve transparency, officials said. A bill introduced by Rep. Kristina Roegner, R-Hudson, would require municipalities, counties and townships to specify additional information on the ballot for general-obligation bonds, including the total amount of outstanding debt, the amount of debt per capita and the amount of debt if the issue passes. “When it comes to issues like government transparency, this is not a Democratic or Republican issue. This is an issue about increasing government transparency for taxpayers,” Ohio Treasurer Josh Mandel said at a news conference yesterday. He collaborated with Roegner on the bill. READ FULL STORY /News/152 2013-04-23T00:00:00 STAR Plus Quadruples Rate of Return Over Traditional Investment Program COLUMBUS – State Treasurer Josh Mandel announced today that STAR Plus, a first-of-its-kind local investment program, has surpassed $1 billion in local government investments.  The STAR Plus Program was launched in June 2012 and has seen tremendous growth since its inception, with local governments of all sizes choosing to safely invest their tax dollars through the program.  This program was made possible by HB 209, passed by the Ohio Legislature on December 6, 2011 with bipartisan support. STAR Plus is a safe and secure investment option for government subdivisions such as schools, cities, counties, townships, libraries, and other public entities which provides weekly liquidity and a competitive yield.  This program is one of a kind and the first in the country for local government fiscal officers.  STAR Plus is offering a yield that is more than four times greater than the traditional STAR Ohio program that was created in 1985. “We heard the concerns of taxpayers and local fiscal officers loud and clear, and have responded by quadrupling the yield on tax dollars and keeping the people’s money safe,” said Treasurer Mandel.  “Our number one mission in the Ohio Treasurer’s office is to ensure that Ohioans’ hard earned tax dollars are kept safe and secure and this successful program does just that.” The success of this program is evident by 320 Ohio government subdivisions choosing to open STAR Plus accounts and investing $1,005,697,042 in less than a year.  This includes 125 schools, 45 cities, 34 libraries, 31 townships, and 11 counties, amongst other government entities.  (See chart below for full breakdown)  Breakdown of Local Governments Investing Through STAR Plus The STAR Plus program is endorsed by the Community Bankers Association of Ohio (CBAO).  In total, 30 Ohio community banks have chosen to participate in STAR Plus thus far, compared to zero community banks that participated directly in the traditional local government investment program, STAR Ohio, that has been around since 1985.   STAR Plus provides safe and competitive returns on cash deposits for Ohio local governments.  It is modeled after established private-sector programs and allows government fiscal managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Funds are deposited in multiple banks to provide the maximum deposit insurance amount as set by the FDIC, currently $250,000, providing the backing of the full faith and credit of the U.S. Government.  Taxpayer dollars invested through the program are fully FDIC insured with no credit or market risk while earning a competitive yield.  The minimum amount required to open a STAR Plus account is $500,000, and the current maximum amount is $15 million per depositor. The program offers daily deposit capability and weekly liquidity with penalty-free withdrawals for government fiscal officers. *All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security. /News/153 2013-04-21T00:00:00 As printed in the Dayton Daily News Sunday, April 21, 2013 By Josh Mandel When I was campaigning for treasurer, I heard from teachers, cops, firefighters and a variety of taxpayers from the Dayton area who were frustrated that their local school and city budgets were struggling. As a result of the historically low interest rate environment, I told them that I would make it a priority to find ways to help improve the investment rate of return on their tax dollars, without putting their hard-earned money at risk. When I was elected treasurer, I followed through on my promise and immediately launched a top-bottom review of the office and set forth to find a way to help many of these struggling local governments stretch their tax dollars further. I implored my financial team to think outside the box and leverage 21st Century technology. Instead of just trying to tweak our existing programs, we took a look at some of the best private-sector banking practices being utilized across the country. What we made available was a secure investment option that was being widely used by many businesses and individuals nationwide to increase returns on short-term investments, but had never been endorsed by a state for use by local governments. We moved forward to make this innovative investment option, STAR Plus, available to Ohio schools, cities and other entities in order to generate more money to educate our children, take care of our senior citizens and keep our streets safe. In total, 29 Dayton area schools, counties and local government entities have deposited more than $104 million in STAR Plus and are currently earning more than triple the yield of the traditional local government investment program. In the coming weeks, we expect the STAR Plus program to surpass $1 billion in deposits across the state, a milestone that shows how popular and successful this new program has become in less than a year. In a show of good government and bipartisanship, the entire Dayton-area delegation in the state House of Representatives and Senate supported the bill that allowed Ohio governments to utilize this first-in-the-nation local government investment program. State Rep. Bob Hackett, who represents Greene County, joined me last year in Xenia to discuss the program, and said it came just in time. “We are at record-low yields, so this is the perfect storm,” said Rep. Hackett. “Local governments often express frustration at the lack of quality investment options, and the legislature was happy to work with Treasurer Mandel to make STAR Plus available to help answer this call.” This new program was endorsed by my office in June 2012, and has been growing rapidly ever since because it serves taxpayers well. This free-market-based program is completely optional for local governments and banks. Today, more than 265 local governments across Ohio, including 29 in the Miami Valley, have chosen to invest taxpayer money through this program. Additionally, 30 Ohio community banks have chosen to receive deposits through STAR Plus, compared to zero community banks that receive deposits directly from the traditional local government investment program that has been around since 1985. “STAR Plus provides Greene County with an investment alternative in this historically low interest rate environment that will allow us to reap higher returns for taxpayers. This is exactly the kind of program we have been looking for,” said Greene County Treasurer Dick Gould, after depositing $15 million. Clark State Community College started with a $500,000 STAR Plus deposit, then added an additional $5 million after they saw their investment returns increase. Clark State controller Dixie Depew said, “When we could see the results, we went ahead and deposited additional funds.” One likely reason local governments are motivated to invest through STAR Plus is that they see the results of the Treasurer’s Office as a whole. My office has earned a ratings upgrade on the Ohio Enterprise Bond Fund for the first time in nearly a decade, and has earned a AAA rating on the $3.2 billion investment fund that I manage. In addition, our liquidity portfolio is up over $2.7 billion since the day I took office. We have done all this while voluntarily cutting our budget two years in a row. I am proud to have worked with Ohio citizens and leaders to protect and invest your tax dollars in a responsible way. In an era of extremely limited public resources, it’s a significant victory to be able to give local governments tools to help them maximize your hard-earned tax dollars to take care of our kids, protect our senior citizens and keep our communities safe. ### /News/154 2013-04-25T00:00:00 COLUMBUS - Today Ohio Treasurer Josh Mandel announced interest rate reductions offered through the State Treasury's 2013 Agricultural Linked Deposit (Ag-LINK) Program. This year over 592 farms in 54 counties were approved to receive interest rate reductions on $61.6 million in operating loans and lines of credit.  "Agriculture is a major part of the economic backbone of Ohio's economy," said Treasurer Mandel. "As one of our state's most essential industries, it is important that farmers are given the tools to help them produce a successful harvest. The Ag-LINK program helps farmers reduce the burden of their annual operating costs so that they can invest in things like feed, seed, fertilizer and fuel at the beginning of the season." Ag-LINK, an annual program that has been in existence for 29 years, allows Ohio farmers to apply for interest rate reductions on operating loans or lines of credit up to $150,000. Applications to enroll in the program were accepted from January through March of this year. In order to become eligible for the Ag-LINK program, applicants must meet the following criteria:   • Must be organized for profit; • Must have headquarters and 51% of operations maintained in Ohio; • Must obtain an operating loan or line of credit from an eligible bank or Farm Credit Lender; • Must use the loan exclusively for agricultural purposes; • Must agree to comply with all program and bank regulations. View a breakdown of 2013 Ag-LINK interest rate reductions offered by region and county.   After a farmer and their lender successfully completes the application, the Ohio Treasurer's office places an investment with the participating financial institution for one year. This one year investment then allows the lender to lower the interest rate on the farmer's loan. In nearly 30 years of existence, Ag-LINK has allowed over 40,000 farmers to receive reduced-rate financing on more than $2.9 billion in operating loans or lines of credit. For more information on the Ag-LINK program please visit www.ohiotreasurer.gov/aglink.    ####  /News/155 2013-04-27T00:00:00 Columbus Dispatch Opinion Pages As Ohio’s treasurer and watchdog of Ohioans’ hard-earned dollars, I am proud to stand up to support sanity and fiscal responsibility in state and local government. That’s why I urge the Ohio legislature to pass House Bill 5 in order to simplify Ohio’s municipal income-tax system. Ohio is the only state in which every city and village sets its own rules and regulations about who must pay taxes, how much and on what type of income. More than 600 local government entities have devised more than 300 different tax forms. As a result, our municipal-tax reality is an unnecessary maze of inconsistency, uncertainty and inefficiency. There is a reason why no other state subjects its residents and businesses to such a complex and cumbersome web of tax rules and forms. As a former city councilman, I understand local distrust of state government, but in this case, arguments in favor of keeping the status quo are far outweighed by the merits of a more streamlined and rational approach.As I travel the state, meeting with small businesses, entrepreneurs and skilled laborers, this issue comes up time and again. For example, an electrician in Minster was required to file 39 different municipal tax forms last year. He owed a tax to every city he visited in a single workday, even if he was there for 10 minutes or less. If he worked in any one of those municipalities more than 12 days in a year, he was required to file its tax forms. This unfortunate case highlights how our current law kills jobs and is an obstacle to small-business growth. Many small businesses pay more to the accountants and lawyers helping them wade through the endless sea of tax forms than they actually owe in taxes. Most of the forms that this electrician filed were for less than $5, though he paid on average $150 to prepare and file each return. More than 20 organizations representing thousands of Ohioans agree that the multitude of municipal income-tax regulations on the books stifles economic growth. Small businesses are supporting this legislation not because they believe they will pay less in taxes but because they hope to spend less time and money on confusing bureaucracy and more on creating jobs. If local businesses are able to invest in increasing sales and productivity instead of funding an army of compliance officers, it will be a net positive for job growth. State lawmakers have a great opportunity to enact common-sense reforms that will help create an environment where the private sector can flourish. My hope is that our state will put a more-rational system in place so that money currently being wasted on mountains of municipal income-tax paperwork instead can be invested to fuel Ohio job growth. Ohio House Bill 5, introduced by Reps. Cheryl Grossman of Grove City and Michael Henne of Clayton, helps streamline this patchwork of local rules, forms and definitions of income to make Ohio’s municipal income-tax system simpler, fairer and more friendly for job creation. JOSH MANDEL Ohio Treasurer /News/157 2013-05-02T00:00:00 COLUMBUS – Ohio Treasurer Josh Mandel announced today that for the second fiscal year in a row, his administration was issued a “clean” audit by Ohio Auditor of State Dave Yost.  In order to receive this positive review, the Auditor’s office undertook a thorough review of accounts and transactions, and an inventory of assets and custodial funds of the state treasury.   This annual audit is mandated by state law, and is required to review and report on any significant internal control deficiencies, fraud, or illegal acts – including noncompliance with laws and regulations.  The audit also reviewed whether abuse or noncompliance occurred with contracts and grant agreements that could affect financial accounts.  Government Auditing Standards require the Auditor’s office to perform testing procedures related to cash, securities, deposits, investments, revenue, taxes, collateral on lent securities/obligations under securities lending, monitoring of service organizations, bank account reconciliations, GAAP package schedules, compliance with certain state laws and regulations, and the Bankmate, QED and BAM systems. “We reviewed cash balances, securities, compliance with state law, and internal control,” Auditor Yost said.  “The conclusion is a clear one:  Treasurer Mandel and his staff demonstrated good financial reporting."  “My main mission as Treasurer is to protect Ohio’s tax dollars.  This clean audit confirms that the hard work we are doing on behalf of taxpayers is paying off and that through sound financial management our books are balanced,” said Treasurer Mandel.   “We have conducted a top-bottom review of office operations and streamlined financial processes to increase efficiency.  As a result we have been able to root out waste and redundancy in the Treasurer’s office, implement best practices from the financial industry, and run our operation like a private sector business.” Audit Reviews Internal Controls, Inventory and Procedures A key part of the audit is an annual inventory of the state treasury.  This inventory counts all cash and reconciles it with the daily ledger report, physically inspects securities held in trust by the Treasurer as custodian for other agencies, confirms financial institution statements on cash deposits and investment account balances, and reconciles all of these amounts with the Treasurer’s accounting records. The scope of the audit included testing procedures related to cash, securities, deposits, investments, revenue, taxes, collateral, monitoring of service organizations, bank account reconciliations, treasury financial systems, and compliance with certain state laws and regulations for the period July 1, 2011 through June 30, 2012.  Auditor’s “Clean” Audit Continues Strong Fiscal Performance of Ohio Treasury  The Auditor’s review of Treasury operations is the latest in positive achievements which have been accomplished by the Treasurer’s office: • After two fiscal years in office, Treasurer Mandel has generated a $2.6 million surplus for Ohio taxpayers.  • Treasurer Mandel trimmed staff by ten percent, reducing budgeted payroll by $1.6 million. • The Ohio Treasury’s liquidity portfolio has grown by $2.7 billion since Treasurer Mandel took office. • Treasurer Mandel refinanced debt service, completing multiple economic refundings in state bond programs to save the state $16.7 million. • Under Treasurer Mandel’s leadership, Standard & Poor’s has improved Ohio’s credit rating outlook, issued the multibillion-dollar STAR Ohio investment fund the highest rating possible (even as multiple other local investment pools were downgraded), and upgraded the Ohio Enterprise Bond Fund for the first time in nearly a decade. View Management Letter from Auditor of State Dave Yost #### /News/158 2013-05-07T00:00:00 COLUMBUS- State Representative Mike Dovilla (R-Berea) was joined by Ohio Treasurer Josh Mandel at a press conference today to unveil legislation seeking to establish “Open Ohio,” a state government expenditure database showing taxpayers exactly where their money is being spent.  In an effort to increase government accountability and transparency, this legislation creates a searchable, freely accessible database that displays the expenditure information of state agencies, including the amount of the expenditure, the date of the expenditure, the person to whom the expenditure was paid, and the state entity that made or requested the expenditure. “Ohio’s hardworking taxpayers deserve to know how their state government is spending their tax dollars,” said Dovilla.  “We are committed to advancing efficient, effective state government that respects taxpayers, and one of the best ways to accomplish this objective is to allow Ohioans to help us root out government waste, fraud, and abuse.” “As Ohio's taxpayer watchdog, I believe it's important that Ohioans have the ability to follow their tax dollars and hold elected officials accountable.  Shining sunlight on state spending and decisions made deep in the bureaucracy will give taxpayers the resources to help root out waste, fraud and abuse," said Ohio Treasurer Josh Mandel.  "This new database of state government expenditures will give Ohioans fully searchable access to billions of dollars of spending information at their fingertips.  I am proud to have partnered with Representative Dovilla and the Ohio General Assembly on legislation to publicly display this state expenditure database, which is a continuation of the Treasurer's Transparency Project I launched shortly after taking office." Under Representative Dovilla's legislation, Treasurer Mandel's office will host the new fully searchable state agency expenditures database on www.OhioTreasurer.gov.  The legislation also places in statute a requirement that the Treasurer's office host fully searchable databases that display salaries of state employees and local school district education employees, a practice that the Treasurer's office started in 2011. The legislation will now undergo further consideration in the Ohio House of Representatives. ####