Learn about State of Maine, including Featured News, Key Projects, and State Debt Team.
Bond Ratings
March 15, 1820
Tax-Supported Debt Outstanding
$1.124 Billion

About State of Maine

The Office of the Treasurer of State is established in Article V, Part Third of the Constitution of the State of Maine.  The Treasurer is elected biennially, at the first session of the Legislature, by joint ballot of the Senators and Representatives in convention, with a limit of four consecutive terms in office.  Once elected, Treasurers are constitutionally prohibited from engaging in any business of trade, commerce, brokerage, or of agency for any merchant or trader.  The Treasurer is barred from involvement with any political action committee.

The core duties of the Treasurer’s Office are debt management, cash management, trust fund administration and unclaimed property administration.  Other major tasks assigned to the Treasurer are directorships on many of Maine’s quasi-governmental debt issuing agencies and distributions under the Municipal Revenue Sharing Program.  Below is more information on the Treasurer's debt management duties.

Debt Management:  Managing the issuance of both Bond Anticipation Notes (BANs) and Bonds;  Assuring timely debt payments;  Managing credit rating agency relationships; Collecting and publishing state debt statistics; Providing debt service projections for legislative and executive budgeting efforts; Preparing the Treasurer’s Statement for publication on ballots whenever general obligation debt proposals are sent out to voters; Determining annually the need for Tax Anticipation Notes (TANs), Lines of Credit, (LOCs) or other short-term debt vehicles to cover cash flow needs within a fiscal year;  Arranging for short-term debt if necessary; and Coordinating with cash pool management to maximize cash pool support for General Fund cash flow needs as an alternative to issuing debt.

Key Projects

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State Debt Team

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