Your State Treasury serves as the state’s banker and takes in more than $70 million in deposits each day from local and state sources. It processes between 2,000 to 3,000 checks daily and reconciles upwards of 3,000 accounts, representing the funds of nearly 200 state agencies, boards and commissions. In short, the Treasury ensures the funds for the state’s bills are made available at the right time.
Additionally, the office is responsible for managing the state’s $4.5 billion investment portfolio, which provides critical monies the state uses for highways and infrastructure, as well as contributions to the Long-Term Reserve Fund that aids the state in weathering uncertain economic times like we are currently experiencing.
Below are some resources for state agencies that we serve, as well as some financial tips on how to manage your money during a crisis.
Information for Entities Served by the State Treasury
We have enacted a contingency plan due to the statewide outbreak of COVID-19. We are following the guidance set forth by the Arkansas Department of Health & the Centers for Disease Control and Prevention that discourage groups of 10 or more, and we are limiting the number of visitors to the office.
To the cities, counties and state agencies we serve daily: The functions of our office will continue. While many of our employees are working from home, there is a limited number of Treasury employees in the office who are accepting checks from agency representatives. However, we are asking that visitors call the office once they arrive so that a staff member can meet them at the door and assist them in processing their warrants.
Arkansas-Specific Financial Resources
Unemployment Insurance and COVID-19: https://arunemployment.com/
Financial Assistance for Arkansas’ Small Businesses: https://www.arkansasedc.com/covid19
Low-Cost Options for Arkansans for Accessing Stimulus Money: https://www.bankonar.org/covid
Information Regarding Arkansas 529 Education Savings Plans
If you have been saving for college with an Arkansas 529 plan, you may have a lot of questions right now. Your child’s dreams and your goals for their future are long-term and boundless. As you evaluate your savings and investment goals, visit this page for answers to some commonly asked questions regarding Arkansas 529 accounts during the COVID-19 pandemic.
Additional Financial Education Resources
Information about the Coronavirus Stimulus Checks: https://home.treasury.gov/policy-issues/cares/assistance-for-american-workers-and-families
Coronavirus Relief Options for Small Business Owners: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
What To Do With Your Coronavirus Stimulus Check: https://www.usatoday.com/story/money/personalfinance/2020/03/29/stimulus-check-heres-how-use-your/2935290001/
How to Make A Budget – and Stick to It: https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/how-to-make-a-budget-and-stick-to-it
How to Build Up Savings In Case of Emergency: https://www.foxbusiness.com/lifestyle/how-to-build-up-savings-in-case-of-an-emergency
What To Do With Your Money: https://www.cnbc.com/2020/03/12/what-to-do-with-your-money-during-the-coronavirus-outbreak.html
5 Ways to Incorporate Financial Lessons While Homeschooling: https://www.forbes.com/sites/lizfrazierpeck/2020/04/02/financial-literacy-month-is-here5-activities-to-incorporate-finance-lessons-while-homeschooling/#2f80819e460c