Treasurer Pearce Announces Winner for the 2018 Treasury Cup Competition

13 March 2018

FOR IMMEDIATE RELEASE -- March 13, 2018

Press Contact: Tim Lueders-Dumont, (802) 828-1451

MONTPELIER, VT--Following 14 rounds of head-to-head competition, Mount Mansfield Union High School beat out Essex High School to win the championship of the 2018 Treasury Cup Challenge. Essex finished in second place. This is the second year in a row Mount Mansfield Union is taking home the trophy. The day-long competition tests students’ knowledge of personal finance and economics. This was the tenth year of the competition which is run by the Vermont State Treasurer’s Office.

“This academically rigorous competition encourages students to learn about personal finance, economics, and consumer affairs,” said State Treasurer Beth Pearce. “ Every year I am impressed by the commitment teachers and students make to tackle this subjects in preparation for the competition. We hope that by challenging students, we help spark an interest in personal finance concepts that will serve them now and in the future.”         

Eight schools participated in the March 9 tournament held in Montpelier. Third place was won by Randolph Technical Career Center. The Treasury Cup Challenge is a double-elimination tournament where four-person student teams compete in a quiz-show style contest. Each member of the championship team received a $500 college savings account and members of the second place team a $250 account, donated by the Vermont Student Assistance Corporation. The winning team, Mount Mansfield Union, also gets to display the large gold traveling trophy at their school for a year. Individual trophies were also awarded to students on the first through third place teams. The tournament is underwritten by the TD Bank Charitable Foundation.

“Our students always enjoy the competition and have a great time at the statehouse,” said Mount Mansfield Union coach David Alofsin. “The experience has been great from year to year and we look forward to competing in 2019.” Finnegan Cleary, a member of the winning team, was enthusiastic that his team’s preparation paid off and led Mount Mansfield Union to victory for the second year in a row.  

The winner of the Treasury Cup also wins the right to represent Vermont as a semi-finalist in the National Economic Challenge. Mount Mansfield Union will compete in the David Ricardo Division for semester general economics students to determine if they will qualify for the prestigious national finals in New York City. If the teams score high enough on the online national test in April, they will be invited to the national finals in New York City for an all-expenses-paid trip and other awards.

Students competing for Mount Mansfield Union were Ben Austin, Finnegan Cleary, Bram Rostad, Jack Parker, Mark Peryer, and Zane Russom with David Alofsin as their coach. Essex High School was represented by Alex He, Ryan Young, Alex Rizvanov, Nick Norton, and Jeremy Brennan and coached by Charlie Burnett. Randolph Technical Career Center was coached by Wayne Goulet with Sheyenne Miller, Olivia Shonio, Alexia Covey, Morgan Nelson, Gabriel Clark, and Keagan Jarvis-Chadwick competing.

Community National Bank donated the grand prize for competing students, a new iPad mini, which was won by a student from Missisquoi Valley Union High School.  The Vermont Jump$tart Coalition provided the buzzer system, and throughout the tournament students won cash prizes donated by VSECU. The competition was a success thanks to the volunteers from the Attorney General’s Office, Secretary of State’s Office, the Department of Taxes, and the Department of Labor.

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