The Treasury Board is a policy board in the executive branch of state government established under Section 2.2-2416 of the Code of Virginia. Among its powers and duties, the Treasury Board exercises general supervision over all investments of state funds, administers the Security for Public Deposits Act and the State Non-Arbitrage Program, makes recommendations to the Governor on proposed financing arrangements, approves the terms and structure of certain bonds or other financing arrangements paid from state appropriations, establishes guidelines for bonds or financing arrangements, and approves the financial terms of lease purchases for state agencies.

The Treasury Board oversees and advises the business activities of the divisions of Cash Management and Investments, Debt Management, and Operations of the Department of the Treasury.

General Obligation Bonds

General Obligation Bonds of the Commonwealth are secured as to the payment of principal and interest by a pledge of its full faith and credit.

Statutory Requirements for Membership:

Under Section 2.2-2415 of the Code of Virginia the Treasury Board is comprised of the State Treasurer (Chair), the Comptroller, the State Tax Commissioner, and four additional members appointed by the Governor. Appointees have a background and experience in financial management and investments, and serve at the pleasure of the Governor.