The State Treasurer’s Office is responsible for the management of the State’s operating funds and certain other funds. The State Treasurer’s Office is committed to meeting the cash needs of State operations in the short-term, as well as prudently investing the other funds while they are held in the state treasury, according to policies set by this Office. The State Treasurer’s Office approaches these responsibilities using a prudent and deliberative process. The funds under management include the State’s operating funds, the local investments program, and the Trust Investment Account (TIA). For fiscal year 2019 these investments had a combined average balance of $524.966 million, and combined earnings of $14.958 million, resulting in a gross rate of return of 2.849%.