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Auditor gives treasurer’s office high marks

Auditor gives treasurer’s office high marks

March 17th, 2018 by the News Tribune in Local News

An audit of the Missouri State Treasurer’s office found the office does an excellent job of managing funds overseen by the treasurer’s office.

Missouri State Auditor Nicole Galloway released the audit Friday. Her office gave the treasurer’s office an excellent rating, meaning it manages state money well.

Missouri’s state treasurer oversees state money not needed for operating expenses and invests that money in Missouri institutions and certain short-term U.S. securities. The treasurer’s office oversees 202 bank accounts for various state agencies. Statewide, the treasurer employs 45 people full time.

Galloway’s audit covered fiscal years 2013-17. Former State Auditor Clint Zweifel served his second term from 2013 until current Treasurer Eric Schmitt was sworn in Jan. 9, 2017.

In 2017, Galloway’s office found expenditures increased from around $44.8 million to $62.3 million because the General Assembly moved the appropriation for the state’s $12 million annual payments on St. Louis’ Dome at America’s Center from the Missouri Office of Administration to the state treasurer’s office. The General Assembly moved the appropriation back to the Office of Administration in fiscal year 2018.