Rhode Island General Treasurer Gina Raimondo recently spoke with local government finance professionals as part of her department's effort to share best practices regarding financial disclosure and to raise awareness about pooling financial resources.
"As local governments look for innovative ways to do more with less, Treasury's door remains open to offer support and technical assistance," said Raimondo. "While local leaders know what is best for their communities, Treasury will continue to look for opportunities to share results, especially when it comes to improving transparency with financial disclosures and creating economies of scale in banking or investing."
Treasury partnered with the Rhode Island Government Finance Officers Association to provide the training session that included presentations on creating and maintaining accurate financial disclosures when entering the bond markets; operational efficiencies; and partnering with Treasury on financial-service programs that can create cost savings.
Raimondo's office is also working with municipalities to implement the Ocean State Investment Pool, which has about $550 million under management, and coordinating efforts with the Pew and Arnold foundations, who are providing municipalities with financial, legal and actuarial advisors free of charge.