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 2012-03-21T11:54:48.57 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 2012-03-21T11:55:35.667 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 2012-03-21T11:56:25.353 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 2012-03-21T11:57:28.69 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 2012-03-21T11:58:18.22 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. /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. ####