(c)2013 NPT PHOTO BY NELSON MORAIS David H. Lillard, Jr., the Tennessee state treasurer, spoke about state financial matters on Tuesday at the luncheon/meeting of the Newport Kiwanis Club.
Thursday, August 29, 2013Author: Nelson Morais
(Last modified: 2013-08-29 09:32:25)
Source: The Newport Plain Talk
NEWPORT-"Tennessee is one of the best financially managed (states in the U.S.), and with a low tax rate," said State Treasurer David Lillard Jr. on Tuesday, Aug. 27.
Lillard was the guest speaker at the Kiwanis Club luncheon/meeting held at the Fox & Hounds Restaurant.
Lillard explained in literature that the state treasurer is a constitutional officer elected every two years in a joint session of both houses of the General Assembly. The treasurer's main responsibilities relate to the financial operations of state government, including being responsible for the control and settlement of all state funds through bank accounts maintained by the Treasury Department.
Lillard said the treasury department invests $50 billion in state and local government funds. "Unlike many other states, our internal staff invests" the money, he stated.
For more details, please see the Thursday edition of the Newport Plain Talk.
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