h_fin_2016a_2017-01-05t13:37:01z3 Hearing Summary
Department of Treasury
COMMITTEE ON JOINT FINANCE
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05:00 PM -- Department of Treasury
Mr. Jon Forbes, Deputy State Treasurer, discussed the role of the Treasurer's Office and discussed the office's FY 2016-17 performance plan. Committee members received a copy of the performance plan (Attachment E). Mr Forbes' spoke about the performance of the office's investment portfolio, legislative changes made during the 2016 legislative session, and updates to the office website made to increase transparency. Mr. Forbes next discussed a new software program that is being implemented by the Unclaimed Property Division.
Mr. Forbes responded to questions about the state's credit rating and its outstanding debt obligations. He said that in the past creditors have had concerns with how easy it is to amend the state constitution. He said that creditors have also expressed concerns about the state's unfunded pension liability. Discussion returned to the Unclaimed Property Division.