Office of the State Treasurer

What Office of the State Treasurer does

The Office of the Washington State Treasurer is a constitutional office of the Washington State government, established in 1889 under Article III of the Washington State Constitution. The office manages state investments, public debt, cash, and banking services for the State of Washington, serving state agencies, local governments, school districts, and individual residents. Approximately 100 employees operate from the office at 416 Sid Snyder Ave SW in Olympia, Washington, under State Treasurer Mike Pellicciotti. The office is funded through state legislative appropriations rather than commercial revenue.

The office's core offerings include the Local Government Investment Pool (LGIP) for public entity investments, Bond and Certificate of Participation (COP) sales for state and municipal financing, and the School Bond Guarantee Program — which as of January 1, 2026 guarantees 367 outstanding bond issues totaling $14.3 billion in aggregate principal across 152 school districts. Education and disability savings products include the GET 529 Prepaid Tuition Plan (established 1998), the WA529 Invest 529 Education Savings Plan (launched November 2018), and the Washington State ABLE Program (launched July 2018). Underlying technology comprises the Treasury Management System, the Agency Financial Reporting System (AFRS), and Online Electronic Deposit (OED) for check processing; workflows are document-based rather than API-driven.

Banking services are delivered through a primary partnership with US Bank, which signed a Concentration Account contract effective January 1, 2026 covering concentration accounts, lockbox processing, merchant bankcard services (VISA, MasterCard, Discover, PIN Debit, American Express), ACH services, and daily fund sweeps. The office leverages the state's Aaa/AA+/AA+ credit ratings to produce measurable public-finance outcomes, including $92.4 million in savings on a recent bond refinancing, an estimated $53 million in annual taxpayer savings through the School Bond Guarantee Program, and over $56 million in low-cost financing accessed by local government partners through the LOCAL Program.

Name

Office of the State Treasurer

Legal name

Office of the Washington State Treasurer

Website

https://tre.wa.gov

Company type

Public

Founded year

1889

Operating status

Operating

Headcount range

51–100 employees

Short description

The Office of the Washington State Treasurer is a Washington state constitutional office managing state investments, debt, cash, and banking services. It serves state agencies, local governments, school districts, and residents via programs including LGIP, bond sales, school bond guarantees, and 529/ABLE savings plans.

Ownership category

akta.pro rank

Product category

State Treasury Management and Public Finance Administration

NAICS

Public Finance Activities (921130), Public Finance Activities (92113)

SIC

Finance Services (6199)

akta.pro primary industry

Treasury & Cash Management (BPAIAEAB)

akta.pro secondary industries

State/Provincial Treasury, Budget & Fiscal Management (BPAIABAC), Government Accounting & Financial Reporting (BPAIAEAD)

Keywords

• State treasury management
• Public fund investing
• Debt and bond issuance
• Government banking services
• Financial education programs

Headquarters

HQ city

Olympia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Distribution channels3 records

Marketing channels5 records

Core offering

The Office of the Washington State Treasurer is the constitutionally designated custodian and manager of state funds, responsible for investing state cash, administering public deposits at Washington-chartered banks, issuing and managing state debt and bonds, providing central accounting and warrant services, and distributing tax and revenue collections to state and local recipients. It also administers education savings (WA529, GET, DreamAhead) and disability savings (ABLE) programs for Washington residents, and delivers financial education through initiatives such as Money Moves and Money $mart.

Product overview

The Office of the State Treasurer is a Washington State government agency providing a comprehensive suite of financial services. The core offerings include the GET 529 Prepaid College Tuition Plan (est. 1998) and WA529 Invest 529 Education Savings Plan (launched 2018) for education savings, and the Washington State ABLE Program (launched 2018) for disability savings. The office also manages the Local Government Investment Pool (LGIP) for public entity investments, Bond and COP Sales Services for municipal financing, the School Bond Guarantee Program (guaranteeing $14.3B in school bonds as of 2026), and Banking Services including concentration accounts, merchant card processing, and lockbox services (via US Bank). Financial education offerings include free workshops, the Washington Fund Directory (140+ programs), Tax Increment Financing reviews, and proposed initiatives including the Washington Future Fund pilot program and Financial Education graduation requirements.

Differentiator

Problem solved

Functional benefit

Products and services

• State Investment Management (Long-Term and Short-Term Investment Pools) Investment of State of Washington cash and securities in dedicated long-term and short-term investment pools on behalf of state agencies, providing liquidity, safety, and return on idle public funds.
• Local Government Investment Pool (LGIP) A diversified, short-term investment vehicle offered to Washington local governments and political subdivisions that provides safety of principal, daily liquidity, and a competitive rate of return on idle public funds.
• Public Deposits Program A statutory protection framework for public funds deposited at eligible Washington State-chartered banks, savings banks, savings associations, and credit unions, providing depositor protection through collateralization and the Public Deposit Protection Act.
• State Bond Sale and Debt Management Sale and ongoing administration of State of Washington general obligation and revenue bonds, including structuring, pricing, disclosure, and post-issuance compliance for capital projects across the state.
• Central Accounting and Warrant Services Centralized accounting, payment processing, and warrant issuance service provided to Washington State agencies, with associated reporting, reconciliation, and disbursement controls.
• School Bond Guarantee Program and Bond Bank State credit enhancement (School Bond Guarantee) and pooled bond issuance (Bond Bank) programs that lower borrowing costs for Washington K-12 school districts undertaking capital construction, maintenance, and improvement projects.
• Tax and Revenue Distribution Collection and distribution of state and local taxes, fees, and revenues to eligible state funds and local-government recipients according to statutory formulas.
• WA529 Invest (Washington College Savings Plan) A 529 college savings program offered to Washington residents (and available nationwide) that allows tax-advantaged saving for qualified higher-education expenses with flexible investment portfolios.
• Guaranteed Education Tuition (GET) Program A prepaid tuition program that lets Washington families lock in today's tuition prices for future in-state higher-education costs, with the State Treasurer's investment earnings subsidizing program costs.
• DreamAhead College Investment Plan A 529 college investment plan offered nationally by the Washington State Treasurer with multiple age-based and individual portfolio options for saving toward qualified higher-education expenses.
• Washington ABLE Program A tax-advantaged savings program for eligible Washington residents with disabilities that allows saving for qualified disability expenses without loss of means-tested benefits, delivered through a US Bank prepaid debit card partnership.
• Financial Education Programs (Money Moves and Money $mart) Free statewide financial education resources and programs delivered to Washington residents to improve financial literacy, often delivered in partnership with WorkSource Washington.

Quantifiable outcome

• School Bond Guarantee Program saves taxpayers approximately $53 million annually
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• WorkSource WashingtoncoreStrategic or Co-development PartnerPartnership with WorkSource Washington to deliver free Financial Wellness 101 workshops covering budgeting, credit/debt, and consumer cautions. Workshops available both in-person at WorkSource of Thurston County and online statewide.
• WaTech (Washington Technology Solutions)supportingTechnology or IntegrationWaTech provides technology infrastructure support for OST's website and digital services (footer credit on website: WaTech.wa.gov)
• Committee on Advanced Tuition Payment and College SavingscoreStrategic or Co-development PartnerFive-member committee governing the GET and WA529 Invest 529 plans, with State Treasurer Mike Pellicciotti serving as one of five board members
• Washington State Department of CommercesupportingStrategic or Co-development PartnerWashington ABLE program is housed under the Washington State Department of Commerce. The State Treasurer is represented on the ABLE Governing Board.
• ABLE Governing BoardcoreStrategic or Co-development PartnerBoard overseeing Washington's Achieving a Better Life Experience (ABLE) savings program for people with disabilities, comprised of State Treasurer/designee, Program Director for Committee on Advanced Tuition Payment, Director of Office of Financial Management/designee, and four Governor-appointed members

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Texas Comptroller of Public Accounts: State-level office that manages state revenue, accounting, treasury, and public funds investing for the State of Texas. Comparable to Washington OST in administering state investments, debt oversight, and revenue distribution to local governments.
• Illinois State Treasurer's Office: Elected state treasurer office that manages state investments, 529 college savings (Bright Start, Bright Directions), and ABLE programs for Illinois. Directly comparable to Washington OST in mandate, programs offered, and stakeholder base.
• California State Treasurer's Office: Constitutional state treasurer office for California that performs the same slate of functions as Washington OST, including state investments, bond sales, debt management, and administration of 529 college savings and ABLE programs. Most directly comparable peer due to scale, scope of programs, and constitutional standing.
• Florida Department of Financial Services: Consolidated state-level financial office combining the treasurer, comptroller, insurance commissioner, and fire marshal functions for Florida, including state investments, unclaimed property, and financial education programs. Broader but materially overlapping scope with Washington OST.
• Pennsylvania Treasury Department: State treasurer's office responsible for managing Pennsylvania's investments, debt, and 529 college savings program (PA 529). Closely comparable in structure to Washington OST, including the state-backed savings and education programs.
• Ohio Treasurer of State: Elected state treasurer office administering Ohio's investments, 529 college savings (CollegeAdvantage), and local government investment pool. Directly comparable in product set, including a LGIP analog.
• New York State Comptroller: State-level chief fiscal officer responsible for managing the state retirement fund, investing public funds, overseeing state debt, and administering retirement and savings programs. Highly comparable in function to Washington OST despite the differing title of Comptroller versus Treasurer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/watreasurer
• Facebookfacebook.com/watreasurer
• Instagraminstagram.com/treasurermike
• LinkedInlinkedin.com/company/office-of-the-state-treasurer

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Office of the State Treasurer