[citation needed] Taxes and other sources of revenue collected by the state are deposited with the Treasury.

Before issuing payments, Treasury's Bureau of Fiscal Review must carefully examine invoices to make certain the charges are lawful and correct.

[citation needed] While managing cash flow to ensure that enough money is on hand to meet financial obligations, Treasury also places funds in widely diversified short-term and long-term investments to earn income for state taxpayers.

[citation needed] The department's reach also extends to the many state boards on which the treasurer serves.

For example, as the chairperson of the Board of Finance and Revenue, the treasurer directs the selection of the banks where state funds are deposited and sets the interest rates paid on them.