The Division of Treasury is joint custodian of the state's general checking account with the Office of the State Comptroller, managing over $300 billion in annual transactions. Additionally, Treasury is statutorily responsible for overseeing $6 billion in sole custody funds of certain state agencies and public authorities held in over 120 accounts. Treasury provides a broad array of financial services such as investment and cash management, depository and disbursement, reconciliation, and check cancellation and reissuance. Treasury is also responsible for the sale and distribution of both cigarette tax and stock transfer stamps.
Deputy Commissioner and State Treasurer
Treasury consists of the following bureaus and units and their roles:
Bureau of Investments and Cash Management
Investments and Cash Management: Manages a $6 billion fixed income portfolio consistent with statute and Treasury/agency investment guidelines. The unit also ensures deposits are fully collateralized, manages liquidity to fund daily disbursements, audits payment files prior to release and processes disbursement requests for sole custody accounts. Additionally, the unit collaborates with the Office of the State Comptroller on a daily basis to release electronic payments from the State’s General Checking account to fund payroll, vendor payments, the State Supplemental Program (SSP), debt service and the State Short Term Investment Pool (STIP).
Bureau of Financial Operations Control and Analysis
- Accounting: Manages all receipts into the state’s general checking account by depositing checks and monitoring incoming electronic payments. The unit also manages the receipts, disbursements, and fraud protection for sole custody accounts of certain state agencies and public authorities. Additionally, the unit conducts a daily reconciliation of the general checking account and a daily and monthly reconciliation of DOL unemployment funds.
- Depository Control: Responsible for stopping and reissuing checks issued from the general checking account, which includes vendor, payroll and SSP checks. The unit also manages checks which have been returned as undeliverable by the post office.
- Reconciliation: Reconciles Treasury managed sole custody accounts each month for various state agencies and public authorities, documenting and resolving any discrepancies discovered during this process. Additionally, this unit monitors the fraud protections for the general checking account.
- Refund & Reissuance: Releases check and direct deposit payments for PIT refunds and the STAR credit program, prints replacement checks, processes forgery cases, tracks undeliverable checks and ensures adequate fraud protection. Additionally, the unit fulfills orders for cigarette tax stamps and stock transfer stamps.
- Warrant Control and Disbursement: Disburses all general checking check payments including state payroll, vendor and SSP checks. In addition, the unit prints and disburses sole custody checks and releases cigarette tax stamps to agents.
- If you need tax forms, visit Forms and Instructions
- Related FAQs
- Visit the National Association of State Treasurers
- To determine if New York State is holding unclaimed funds on your behalf, visit the NYS Office of the State Comptroller
- Learn about the New York State College Savings Program.
By email: Treasury.Inquiry@tax.ny.gov
NYS DEPARTMENT OF TAXATION AND FINANCE DIVISION OF THE TREASURY P.O. BOX 22119 ALBANY NY 12201-2119
By private delivery:
NYS DEPARTMENT OF TAXATION AND FINANCE DIVISION OF THE TREASURY 110 STATE STREET, FLOOR 2 ALBANY NY 12207