Steve Goforth
State Treasurer Mike Pellicciotti stopped by the Stanwood-Camano Rotary Club meeting Wednesday, Aug. 28.
Stanwood-Camano was the 60th Rotary that Pellicciotti has visited in the state, and he hopes to visit all of them during his time in office.
“I just really appreciate Rotary, because I find that it gets me to every community in the state,” he said. “Issues are very different in every community in our state, but, yet, I'm hearing from leaders in that community who care about the community that we're in.”
Pellicciotti gave a brief overview of what the State Treasurer’s office does, explaining that he acts as the state’s banker.
“I handle the cash flow for the state of Washington — money in, money out,” he said.
Pellicciotti handles about $35-40 billion annually in state and local funds.
He manages the state’s investments, savings, debt and allocates incoming dollars.
“One of the other things that I'm responsible for is essentially financial policy issues for the state of Washington,” he said. “And we do that primarily based on the legislature directing me to serve on certain financial boards and commissions for the state.”
Pellicciotti serves on about eight different boards.
“I serve on boards related to housing affordability, boards related to small business tax credits, I chair a commission that handles banking regulation for the state,” he said. “I chair another one for state finance committees. … A wide range of different things.”
In addition to serving on boards and handling cash flow, Pellicciotti makes recommendations to the Legislature to encourage fiscal responsibility.
When he came into office in 2021, Pellicciotti said he hit the ground running.
“During that first short legislative session, we as an office put forward pieces of legislation that just modernized things, made things work better,” he said. “Nothing too glamorous or exciting, just updating statutes and making government work more efficiently.”
The State Treasurer’s Office helped get passed into law as many bills during Pellicciotti’s first legislative session as the office had in the previous five years combined.
“I very much view it as my role to give good guidance to the legislature,” he said, “and provide recommendations as to good financial guardrails in which the legislature should be operating for the good of the financial health of the state.”
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