New Jersey’s Treasury Department Tuesday announced that it would again renew its pool of 13 financial advisers for an additional one-year term.
The state first selected the consulting firms in 2007, with two extension terms of one year each. Officials last year at this time chose to keep the 13 financial advisers. The new term will end on Sept. 12, according to the Treasury Web site.
The 13 firms were originally selected to one of three consulting pools: appropriations, transportation or dedicated revenue.
The appropriations group comprises Lamont Financial Services Corp., Phoenix Capital Partners, P.G. Corbin & Co., Powell Capital Partners, and Public Financial Management Inc. The transportation pool consists of Acacia Financial Group Inc., A.C. Advisory Inc., and First Southwest Co. while the dedicated revenue group consists of Evergreen Capital, Goldman, Beale Associates, NW Financial Group, Phoenix Advisors, and Public Resources Advisory Group.
The firms consult state officials on general obligation, state appropriation, and state contract debt sold through the Treasury and through independent authorities. New Jersey has approximately $32 billion of total outstanding debt, including $2.5 billion of GOs.