Michigan Department of Treasury: A Comprehensive Overview

The Michigan Department of Treasury is a government administration agency located in Lansing, MI. The primary responsibility of the department is to manage the collection, disbursement, and investment of all state monies. This crucial role ensures that the state's financial transactions are carried out smoothly and serve the best interest of the state and its citizens.

As a key player in the state's financial and fiscal policy, the Michigan Department of Treasury advises the Governor on all matters related to tax and revenue policy. The department collects and administers over $20 billion a year in state taxes, which is a significant portion of the state's overall revenue. By efficiently managing these funds, the department safeguards the credit of the state, thereby maintaining its financial stability and reputation in the national and international arena.

Another important role of the Michigan Department of Treasury is to oversee the fiscal health of Michigan’s local governments and schools. This responsibility ensures that these vital public institutions have the necessary resources to operate effectively and provide essential services to the state's residents. By monitoring and managing the financial health of local governments and schools, the department plays a critical role in maintaining the overall well-being of the state.

One of the key duties of the Treasurer is the investment of over $65 billion of the State and school employees' retirement funds. This significant task requires careful management and strategic investment decisions to ensure the long-term security and growth of these funds. By effectively managing the investment of these retirement funds, the Michigan Department of Treasury secures the financial future of the state's many public employees who have dedicated their careers to serving the people of Michigan.

For those seeking more information about the Michigan Department of Treasury, the department's website (http://www.michigan.gov/treasury) offers a wealth of resources and information. The site provides detailed information about the department's various responsibilities, as well as useful tools and resources for taxpayers and other interested parties. For any additional questions or inquiries, the department can be reached by phone at 517-335-7508.

In summary, the Michigan Department of Treasury is a vital government agency that plays a crucial role in the financial management and well-being of the state. By efficiently collecting and administering state taxes, overseeing the fiscal health of local governments and schools, and investing the retirement funds of state and school employees, the department ensures the long-term financial stability and prosperity of Michigan and its residents.