The State Treasurer’s Office is a control agency that is heavily involved in day-to-day State operations and provides guidance to multiple State agencies regularly for a multitude of reasons.  The Operations Division is an integral part of the STO and serves as a conduit between STO and agencies as well as a liaison between the Executive Division and all other divisions of the agency in an effort to achieve streamlined business processes and quick resolutions.

In Fiscal Year 2022 leadership recognized a need to prioritize procurement and contract management as the Office retains delegated authority for Financial and Insurance Services procurements under the authority of the State Finance and Procurement Article.  With the everchanging laws and business processes of the Banking and Insurance industries, contract negotiations have become much more challenging and there is a greater need for resources to support this area.  Some of the statewide contracts that fall under STO purview include banking contracts, financial advisors, underwriters, insurance brokerage services, armored courier services and capital equipment and energy lease agreements.  These services are procured by the STO for utilization by all State agencies. In addition to the management of all Statewide Finance and Insurance related contracts, Operations also performs all agency procurements from purchase of supplies to procurement of agency specified services.  Operations staff represent the Treasurer on several procurement councils and groups in order to stay apprised of current trends and challenges in the procurement arena.

Other Statewide Functions

Along with the statewide procurements, the Office also procured the following for specific agency needs: Major Information Technology Development Project (MITDP) modification approved by the Board of Public Works, emergency procurement for the i5 payment processing system replacement, check paper, and numerous renewals and modifications for existing contracts.

Additionally, this division is responsible for submitting monthly, quarterly, and annual reports such as the Procurement Agency Activity Report (PAAR) and the Minority Business Enterprise Report (MBE).  Over the past several years, policies and procedures related to MBE, Small Business Reserve (SBR), and Veteran-Owned Small Business Enterprise (VSBE) have been promulgated to ensure agency compliance with the Governor’s initiatives. Many of these policies require establishing goals and additional reporting by agencies.  Throughout this fiscal year, the division performed regular outreach to MBE, SBR and VSBE businesses to engage with and generate interest in doing business with our State.  As a result, the Office was able to increase both SBR and MBE participation in FY 23 over FY 22.  The Office remains focused on improving participation levels and as such will continue to focus on outreach in future years.

Lastly, the division provides centralized support performing travel coordination, fleet management and surplus property.  The division orders and tracks office supplies and equipment to ensure cost effective purchasing and close inventory control. Preparation of several statutorily required reports including record retention schedules, fixed asset materials and supplies inventory also fall under the direction of the Operations Division.

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.

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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

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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.