For many people, a new year means making resolutions, breaking them, and returning to old habits that needed changing in the first place. When running a successful business, however, yearly “resolutions” cannot be broken. If a company wants to be successful, it cannot ignore the goals it sets at the beginning of each year.  

At the Louisiana Department of the Treasury, we operate the state’s finances like a business, and we set major goals last year that we were able to successfully accomplish. We have collected year-end data on our state investments and department programs, and the results are good news for Louisiana.  Year 2000 Highlights Include: 

Good News for Louisiana Citizens

• Returned $3,265,672 in unclaimed property to Louisiana residents.

• Helped the Office of Student Financial Assistance improve the Student Tuition Assistance Revenue Trust program to include a $2,000 tax deduction and 2 percent to 14 percent matching state funds.

• Worked with the Legislature and the Governor to continue to reduce state debt, making Louisiana a leader in the United States for debt reduction over the past five years. 

Good News for Louisiana Investments 

• Louisiana’s credit rating from Standard and Poor’s improved from an A- to an A.- Helped the Office of Motor Vehicles save $500,000 by improving their check deposit practices.

• Generated $106,248,409 in investment earnings for the state and $47,756,377 for the Louisiana Educational Quality Trust Fund. 

Good News for Louisiana Projects

• Sold bonds online at an interest rate resulting in savings of approximately $12.5 million for the state. 

• Approved (through the State Bond Commission, of which the Treasurer is Chairman) over 250 bond issues and re-financings for local governments, political subdivisions, public trusts, non-profits and industrial development boards, the proceeds of which were used to build and improve infrastructure and to grow thousands of jobs.

We will continue to work to achieve the goals we set each year for the department and the state. This year, we are making our Web site more interactive and will implement a system that accepts online bids for state investments including certificates of deposits.  Through our hard work and successful partnerships with the Louisiana Legislature, other state agencies and individuals in the private sector, we have been able to take the Louisiana Department of the Treasury to places it’s never been before. We look forward to the future and will continue to expand on our accomplishments for the benefit of Louisiana citizens.