The Kentucky State Treasurer is one of the original offices created by the Kentucky Constitution in 1792. The Kentucky Treasurer is elected every 4 years and the individual holding the office is limited to serving two consecutive terms.
Allison Ball, of Prestonsburg, is Kentucky’s 38th State Treasurer. She was inaugurated to her first term on January 4, 2016.
The Treasurer sits on several boards, each of which is vital to Kentucky's economic, financial, and cultural prosperity, such as the boards of the Kentucky Teachers' Retirement System, the Lottery Board, Kentucky Higher Education Assistance Authority, and the State Investment Commission. The Treasurer acts as the state's elected Chief Financial Officer and watchdog, ensuring that all state dollars are spent statutorily and constitutionally.
The Kentucky State Treasury is statutorily and constitutionally required to perform several critical and essential government functions.
Investing in Kentucky's Future
Building a lottery that helps more children afford a college education
As a member of the lottery board, Treasurer Ball will work to ensure that the revenues generated are sufficient to fund the KEES program, which rewards graduating high school seniors with scholarships for college.
Visit the Lottery Web Site
Working to help taxpayers determine if they are owed unclaimed property
The Kentucky State Treasurer administers Kentucky’s Unclaimed Property Fund. Unclaimed property generally consists of such items as payroll checks, unclaimed safety deposit boxes, old life insurance policies, or vendor checks that have remained unclaimed by their owners after several years. After a period of time, usually 3 years, banks and other financial institutions turn over the unclaimed property to the Kentucky State Treasury. Kentucky residents can then search through the existing database to discover if they have any unclaimed assets or funds. The Unclaimed Property Fund contains assets with a total value of nearly half a billion dollars. Those are assets owned by Kentucky residents and also Kentucky local government agencies.
Unclaimed Property Search
More Information on Unclaimed Property
Ensuring the State's Investments Get the Best Possible Return
As Chair of the State Investment Commission, Treasurer Ball is monitoring the state's investments of more than $3 billion so that state government receives the best possible return. The State Investment Commission is charged with the oversight of Kentucky's investment programs. The state's investments fall into four primary categories:
- The Short-term pool that consists primarily of general fund cash balances and provides liquidity for the remaining investment pools;
- The Intermediate-term Pool that represents agency fund investments, state held component units and fiduciary fund accounts;
- The Long-term Pool that invests the budget reserve trust fund account and any other funds deemed appropriate for the pool where the need for liquidity is not a serious concern;
- The Bond Proceed Pool, a fund in which capital construction bond proceeds are invested.
The Office of Financial Management is the administrative arm for the investment commission. The Office of Financial Management analyzes and manages the state's short-term and long-term cash flow requirements and seeks to maximize the return on Kentucky investments. The office also develops a long-term debt plan for the state.
More Information on OFM
Working in the Best Interest of Retired Teachers
Treasurer Ball believes that quality education needs a continuum of care and concern. As a member of the board of directors for the Kentucky Teachers' Retirement System, Treasurer Ball oversees the pensions and savings of our teachers.
More Information on KTRS
STABLE Kentucky Initiative
During her first year in office, Treasurer Ball launched the STABLE Kentucky initiative, a program designed to encourage saving and investments for Kentuckians with disabilities. Through a federally tax-free ABLE Account, Kentuckians with disabilities can build wealth so that they may achieve a better life experience.
More Information on STABLE Kentucky
Additional Treasury Functions
The Kentucky State Treasury also performs the following functions:
- Records, verifies and pays all federal, state and local withholding taxes for employees of the Commonwealth.
- Implements court ordered attachments against the salaries of state employees or moneys owed to state vendors.
- Makes timely deposit of incoming revenues from state agencies.
- Records, monitors and reconciles all transactions in the state's depository and checking accounts.
- Performs critical functions that ensure compliance with the Federal Cash Management Act of 1990.