The Florida State Treasury operates a special investment program for public entities. This program is authorized in  Section 17.61(1), Florida Statutes and is called the Special Purpose Investment Account (SPIA). Component Units of the State, Universities, or Colleges that are created by the Florida Constitution or Florida Statutes are eligible to invest in SPIA.

SPIA funds are combined with State funds and are invested as part of the Treasury Investment Pool. The Treasury Investment Pool invests in a combination of short-term liquid instruments and intermediate term fixed income securities.

Participants have the ability to invest and obtain funds same day with an 11:00 a.m. deadline. Earnings are posted monthly based on a pro-rata share of total Treasury earnings. Each SPIA participant is assessed a monthly administrative fee of 0.12% of their average daily balance.

An investment in SPIA is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although SPIA seeks to preserve principal it is not a guaranteed investment.

The Chief Financial Officer is responsible for managing the Certificate of Deposit placement program mandated by Chapter 17.57, Florida Statutes. The CFO places certificates of deposit in Florida Qualified Public Depositories in two, three, and/or five year maturity bid contracts.

Interest payable and principal due to the Chief Financial Officer is collected on a quarterly basis and maturity date using the Automated Clearing House.

For more information, contact the Treasury Certificate of Deposit Placement Program Coordinator at 850.413.2765.

Certificate of Deposit Program Participant Information:

Certificate of Deposit Program Structure

External User's Manual

Bid Results

Log In To Certificates of Deposits

The Chief Financial Officer pays warrants for disbursement of state funds in accordance with  Chapter 17.52, Florida Statutes. The Chief Financial Officer contracts with a Florida bank selected through a competitive bidding process to collect state warrants cleared through the banking system.

The Treasury staff provides information to state agencies, financial institutions, and check cashing facilities regarding the status of warrants issued and/or paid, such as:

• Verbal validation of warrant status
• Financial institution calls for verbal validation of year old warrants
• Financial institution calls for warrants copies and source of receipt information
• Agency calls for warrant copies are referred to the Reconciliation section

For more information regarding State of Florida warrants, please contact the Treasury Warrant Section at (850) 413-3163.

The State of Florida Social Security Alternative Plan is an alternative retirement income program established by the IRS Section 3121(b)(7)(F) and Section 110.1315, Florida Statutes.

OPS Employees are required to contribute at a rate of 7.5% of pre-tax salary instead of contributing to Social Security.

Provided below is information on the State of Florida Social Security Alternative Plan through VALIC.

These documents contain necessary information on setting up your investment plan and managing your account.

It is important for you to be aware of the variety of investment options available for your contributions. The list of investment options can be found on the VALIC website. By choosing the right mix of investments that best suits your needs you are on your way to a more successful retirement.

Florida Treasury Annual Report 2019-2020