Welcome to the website of the Georgia Office of State Treasurer (OST). We are the cash and investment manager for the State of Georgia, preserving both capital and public trust by managing Georgia's cash resources efficiently and conservatively. Last year, OST generated $21.9 million in interest for state and local governments. We recognize that the money we hold belongs to the taxpayers of Georgia, and we manage it with honesty, integrity, and the highest ethical standards until it is needed to be used in their interests.
More specifically, OST is responsible for the receipt and disbursement of all state general funds and the funds that the lottery generates for education. Our office invests these funds between their receipt and disbursement and manages other state trust and custodial fund investments. OST manages Georgia Fund 1, a local government investment pool that offers local governments and other local public institutions a safe, efficient, and liquid investment alternative. Georgia Fund 1 is a AAAf rated fund by S&P.
In addition to our money management responsibilities, OST also advises state agencies on the development and implementation of sound, effective, and efficient banking practices and monitors their banking arrangements and account management.
OST also administers Georgia's Section 529 college savings plan, the Path2College 529 Plan (formerly known as the Georgia Higher Education Savings Plan). Section 529 savings plans are tax-advantaged programs of investment options allowing parents, grandparents, or others to save for the future education expenses of our children.
We believe that Georgia offers one of the best Section 529 college savings plans in the country. Savings in the program grow tax-free and can be spent for education tax-free. In addition, Georgia offers its taxpayers up to a $2,000 per year, per beneficiary state income tax deduction regardless of annual income.
Our website contains more information about the primary functions of OST. We hope you will spend a little time learning about our top rated funds and how we can assist state agencies and other public entities with their financial management needs.