About the Treasurer’s Office

The State Treasurer’s Office organization includes an Executive Office and seven Divisions, Administration, Banking Services, Data Processing, Debt Management, Insurance, Investments, and the Legal Office.

Treasurer’s Duties

The Treasurer is the principal custodian of the State’s cash deposits, monies from bond sales, and other securities and collateral and directs the investments of those assets.

The Treasurer’s duties include maintaining an ongoing relationship with the rating agencies, conducting outreach with State Agencies, keeping legislators informed of the operations of the State Treasurer’s Office, and serving on numerous boards and commissions including the Board of Public Works, the State’s highest administrative council.

The Treasurer is elected by a joint ballot of both houses of the General Assembly, a tradition begun following the Constitutional Convention of 1851, at which the Board of Public Works was created, with the Treasurer’s role designed to represent the Legislature. Because of his close relationship with the General Assembly, the Treasurer briefs the members of the Legislature on matters concerning the State Treasury ranging from reporting the results of a bond sale to discussing the latest information on the financial markets. The Treasurer is also responsible for producing this Annual Report to provide the Governor, the General Assembly, and the public with current information about the operations of the State Treasurer’s Office.

Boards and Commissions

In addition to his duties in connection with the operations of the State Treasury, the Treasurer has many external responsibilities. As mandated by statute, the Treasurer serves on approximately 14 different boards and commissions.

Chief among these responsibilities is the Treasurer’s role on the Board of Public Works, on which he serves with the Governor and the Comptroller. With its executive authority, the Board supervises a substantial portion of the fiscal affairs of the State, sets policies not otherwise set by the General Assembly, and controls the expenditure of funds approved by the Legislature. The Treasurer manages the sale of General Obligation bonds for the Board of Public Works and helps maintain the State’s triple A bond rating.

The Board generally holds its meetings every two weeks, supplemented by a “pre-Board” meeting which gives those agencies with items on the Board’s agenda ample opportunity to explain their items. The Treasurer attends both meetings in addition to reviewing and researching the Board’s copious agenda prior to these meetings. The Treasurer also visits many of the project sites that appear on the Board’s agenda.

The Board has a diverse scope of responsibilities which include:

Approving the sale of General Obligation bonds; Supervising the expenditure of all sums appropriated through State loans authorized by the General Assembly; Supervising all other capital expenditures except those for roads, bridges, and highways, and approving all contracts for such expenditures; Approving all leases of land, buildings, and office space before such contracts are executed by any State Agency; Approving the sale, lease, or transfer of real property belonging to any State Agency or institution; Adopting or approving certain loans and grants by State Agencies, and approving the terms and renewal of all bonds furnished by State officials; Custodian of the General Emergency Fund; Issuing licenses and permits to dredge or fill State tidal wetlands; Adoption of rules, regulations, and procedures for the administration of the State’s Public School Construction Program, and approval of the allocations paid to the local subdivisions; Supervising the implementation of the State’s procurement policies for both capital projects and operating budget contracts; and Reviewing and approving, when necessary, proposals by the Governor to reduce appropriations.

We are developing an online portal to streamline the process of setting up new agency accounts. In the meantime, please complete this temporary PDF form. To ensure the security of your sensitive information, please only fax the completed form to us at (410) 974-2076 or send via regular mail to the address listed below. We apologize for the inconvenience and appreciate your patience as we transition to the new online system. 


Maryland State Treasurer’s Office 

Banking Services

80 Calvert Street

Annapolis, MD 21401

Lockbox Banking Services

Solicitation Number:

RFP #LB-10192023


Lockbox Banking Services

Issue Date:


Proposals Due: 


Award Date:



Solicitation Letter

Financial Proposal Form


Amendment #2

Questions & Answers #1

Questions & Answers #2 (2 of 2)



The State Treasurer’s Office (“STO”) is an agency of the State of Maryland. Information on Maryland State General Obligation Bonds will be available to you after you read and acknowledge this disclaimer. The Official Statements linked to the Debt Management section of the STO website (the “Official Statements Webpage”) is the only information on this site intended to reach the investing public, including Maryland State General Obligation bondholders, rating analysts, financial advisors, or any other members of the investment community.

Use of this Website

Your access and use of this site is subject to the following terms and conditions and all applicable laws. By accessing and browsing this site, you accept these terms and conditions without limitation or qualification.

Contact Person

If you need help downloading Official Statements or other information, or would like to obtain copies of printed Official Statements, please contact the STO’s Debt Management Division at (410) 260-7920.


All information contained in the STO Official Statements Webpage is obtained from sources believed to be accurate and reliable. Refer to the Official Statement of each series for complete information on that issue. This information, however, is prepared “without audit” unless otherwise identified as audited financial information. Due to the possibility of human or mechanical error as well as other factors, this information is provided “as is” without warranty of any kind and the STO makes no representation, express or implied, as to the accuracy, reliability, completeness, or timeliness of this information, and is not responsible for any loss or damages incurred by parties using this information.

You will need Adobe Reader software to accurately read and print the Official Statements. If you do not have the Adobe Reader, or if you are using a version earlier than the current version, you may obtain an updated version of the Adobe Reader free of charge from the Adobe web site here. Using software other than the current version of Adobe Reader may cause the Official Statements that you view or print to differ from the Official Statements as they were posted on this web site or as they appear in the STO’s printed version. You assume the risk of any such discrepancies as well as any discrepancies related to communication transmission or other printing problems.

The Official Statements located on the Official Statements Webpage have been included for general informational purposes only and no person should make any investment decision in reliance upon the information contained herein. The Official Statements Webpage and the information contained herein do not constitute an offer to sell or the solicitation of any offer to buy any securities. The STO currently anticipates that the disclosure documents prepared from time to time in connection with the offering and sale of securities by the State of Maryland may contain information updating or supplementing the information presented at this website. In addition, certain financial information and operating data, as well as information regarding certain material developments concerning the State of Maryland and securities from time to time issued by it, may be filed with the continued disclosure service established by the Municipal Securities Rulemaking Board known as the Electronic Municipal Market Access “EMMA” system, www.emma.msrb.org. The STO in its discretion will determine whether to include such updated information on its website or to otherwise supplement, update or modify the information at this website. Furthermore, the information in each document or file is dated as of the date or dates indicated, and the STO disclaims any duty or obligation either to update the information contained at the Official Statements Webpage or to maintain the availability of such information. Such supplemental, updated or modified information may be obtained from the website cited above.

Under no circumstances shall the STO have any liability to any person or entity for (1) any loss or damage in whole or part caused by, resulting from or relating to any error (neglect or otherwise) or other circumstances involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing communicating or delivering any such information, or (2) any direct, indirect, special, consequential or incidental damages whatsoever, even if the STO is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information

Restrictions on use of Website Materials

The STO maintains the Official Statements Webpage to provide you with information, and for education and communication. Please feel free to browse the site. You may download material displayed on this site for non-commercial, personal use only provided you also retain all copyright and other proprietary notices contained on the materials. You may not, however, distribute, modify, transmit, reuse, repost, or use the contents of this site for public or commercial purposes, including the text, images, audio, and video without the permission of the STO.

Archived Documents Acknowledgment

I acknowledge that I am entering an area of the website for historical archived documents; that each archived documents speaks only as of its date; and that the STO has undertaken no obligation to update the information.

Acknowledgement of Disclaimer

I have read the foregoing disclaimer and expressly agree to each of its terms; I also understand that, as indicated above, official forms of disclosure documents are available elsewhere and that material information important to the making of informed investment decisions may have been posted elsewhere.