The Operations Division provides centralized services to the Commonwealth's agencies and institutions for the following functions: statewide check processing and distribution; stop payments and forgeries; bank reconciliation of all statewide Commonwealth bank accounts; investment accounting for the General Account of the Commonwealth and numerous trust and bond funds; and trust accounting for most of the Commonwealth's debt issuances and several of its authorities and the Literary Fund. The Division also provides support services to the Treasury and the Treasury Board for accounting and budgeting.

Programs Administered by Operations: Insurance Collateral

The State Treasurer is required by statute to "safekeep" securities pledged by insurance companies transacting the business of insurance in Virginia (Article 7, Sections 38.2-1045 through 38.2-1058 of the Code of Virginia). Treasury has contracted with the private sector to perform the safekeeping and custodial requirements of this mandate. Treasury administers this contractual relationship and performs administrative responsibilities associated with the function such as coordination of activities between the trustee, the State Corporation Commission's Bureau of Insurance, and insurance companies. Treasury also accounts for the securities of insurance companies in liquidation.

Check Image Retrieval System

Department of the Treasury is pleased to announce the migration of its self-serve Check Inquiries service to a new application. The target date for start of this enhanced service is September 30, 2017, after which portal access to the current self-serve check indexing system will be discontinued. To ensure continued access to check inquiries under the new system, please contact your Agency Fiscal Officer or send an email inquiry to onlinebanking@trs.virginia.gov.

The Security for Public Deposits Act (SPDA)

On behalf of the Treasury Board, Treasury administers the SPDA (Sections 2.2-4400 through 2.2-4411 of the Code of Virginia). SPDA provides for a single body of law in the Commonwealth to protect Virginia public deposits held in banking and savings institutions through the collateralization of securities. SPDA requires public depositories to report their public deposit balances and collateral balances monthly to the Treasury Board. Treasury ensures compliance with the reporting and collateral requirements of the SPDA on behalf of all public depositors.

Search Public Funds Accounts

The Public Funds Account Search and new Account Verification features are designed to provide public officials and their designees the ability to ensure that all the public fund accounts are being properly reported to the Virginia Treasury Board in accordance with the Security for Public Deposits Act. If you have any problems using these search features or have any questions, please contact the Treasury Board support staff.

The new SPDA Account Verification feature contains account data beginning with Quarter 4 2023 (quarter ended 12/31/2023). Section 1VAC75-20-160 of the revised SPDA Regulations, which became effective 7/1/2023, requires state and local public entities to verify to Treasury that their accounts and account balances are being correctly reported to the Treasury Board by their financial institutions, beginning with Q4 2023. Verifications will be performed in this new feature, available HERE.

The original SPDA Account Search feature contains historical account data from Quarter 1 2010 (quarter ended 3/1/2010) through Quarter 3 2023 (quarter ended 9/30/2023) and can be accessed HERE.