Jobs. Jobs. Jobs. While our state and national economy is recovering, Chip is working to ensure that our Treasury is part of the collective effort to restore prosperity to the People of the First State. Believing that the fundamental role of our state treasury is to foster economic growth, Chip has directed the Treasury to use its financial and economic resources to create a strong business climate for economic growth. Implementing many of his ideas proposed during the campaign, Chip is working to create jobs by safely investing Treasury funds to support economic recovery. As the chief financial officer of our state government, Chip will continue to offer and propose innovative financial ideas to help restore prosperity to Delaware.

In times of economic prosperity or recession, fiscal responsibility must stand as a cornerstone of government policy. Chip is committed to investing taxpayer money in a safe, yet progressive manner. However, fiscal responsibility requires more than merely managing our state finances pursuant to established guidelines. Rather, Chip believes that fiscal responsibility is also (i) ensuring that state funds are invested and expended in a manner that will benefit Delaware businesses and taxpayers, and (ii) being at the forefront of innovative financial practices that will serve as the benchmark for other states. During Chip’s first term as State Treasurer, he is working with national, state and local government and financial leaders to not only restructure our state portfolio to meet the demands of our 21st century global economy, but also leading the effort to diversify our state funds in a manner that would protect our investments during turbulent economic times. Realigning our state investment portfolio and strategy to better position Delaware in our global economy is a key priority for Chip and our State Treasury.

As our State Treasurer, Chip believes it is vital to support Delaware’s small businesses, the engines of job creation, and financial institutions. Under Chip’s tenure, the Treasury proposed the Delaware Small Business Investment Program – a program aimed at promoting Delaware small businesses by increasing the amount of available capital for lending through our local financial institutions without risk to taxpayers. Additionally, during Chip’s first year in office, he created the Delaware Money in Delaware Banks initiative. This program will deposit up to $250,000 of state funds in federally insured accounts in each selected qualified Delaware financial institution to diversify the state’s portfolio. Chip is committed to using state funds to work for the People of Delaware. Furthermore, Chip is a strong supporter of “Small Business Saturday,” a national initiative which encourages Americans to shop at small businesses in their community on the Saturday after Thanksgiving. These are just a few of the many initiatives to support Delaware’s small businesses and financial institutions undertaken by the Treasury during the first year of Chip’s term.

Transparency in government is paramount, particularly when decisions involve taxpayer funds. Chip is committed to ensuring actions undertaken by the Treasury are open to review by the public. During his term, Chip has issued two annual reports highlighting the work undertaken by the Treasury (such reports are not required by law), posted Treasury Directives’ online, and challenged the closed decision-making process of the Cash Management Policy Board by seeking to subject the state’s investment polices to our open government laws. As an elective office managing approximately $2 billion of our state dollars, Chip believes that it is important to allow Delawareans to access information about the inner workings of your government. After all, it is your money.