Treasury Operations

Treasury Operations2019-08-03T17:21:01+00:00

Make investments

The Treasurer is also responsible for making all investments for the City. This includes purchasing, selling and auditing the earnings on these investments as well as ensuring that City funds are safe and secure.

Manage banking

The Treasury Department controls and monitors all the bank accounts of the City. There are currently 50 accounts under this office’s control. Through daily contact with the Comptroller’s Office and detailed reconciliations of these accounts, this office provides a check and balance for the Comptroller’s Office. In addition, this office is by ordinance the depository for all receipts of the City and provides a means for departments to make daily deposits.

Process payroll

Treasury issues all payroll checks, deposits funds for federal and state taxes, funds for savings bonds and other payroll deductions. The office also serves as a depository for City departments i.e. the Cashier’s Window.

Treasury Operations

The Treasurer is the chief investment and cash management officer for the City of St. Louis. The Treasurer is chief custodian of all city funds, as well as chief custodian of the fire and police pension funds. The office is committed to making smart investment decisions in order to save the City money.

Quarterly Investment Reports

The City of St. Louis investment returns are reported quarterly, providing returns by asset class and asset allocation for all portfolios.

Quarterly Investment Reports

City Depository

The Funds Committee, which consists of the Mayor, the Comptroller, and the Treasurer, is required to make an annual evaluation of the financial institutions seeking to be City of St. Louis depositories.

The Funds Committee is committed to ensuring that the institutions selected to be authorized depositories of City funds provide credit in a fair and unbiased manner to City residents. Banks and financial institutions are encouraged to increase their financial commitment to the revitalization of the City through mortgage and home improvement loans to credit-worthy individuals, and through commercial loans to facilitate development and redevelopment throughout the City.

This annual report contains information about the residential lending activities of the banks that have applied to be City of St. Louis Depositors. All information provided in this report comes from these banks and the Federal Financial Institutions Examination Council (FFIEC), which monitors institutional compliance with the Federal Home Mortgage Disclosure Act and the Community Revitalization Act.

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Frequently Asked Questions

How do banks become a city depository?2019-07-02T06:44:23+00:00

Pursuant to City Ordinance #64457, the Funds Committee, consisting of the Mayor, the Comptroller, and the Treasurer is required each year to evaluate the financial institutions seeking to be City depositories.  According to the city code, the Treasurer’s office has the authority to encourage banks and financial institutions to increase their financial commitment to the revitalization of the City through mortgage and home improvement loans to credit-worthy individuals and through commercial loans to facilitate development and redevelopment throughout the City.

The Treasurer advertises annually for the submission, by March 1 in each year, of applications from regularly organized national and state depositories insured by the Federal Deposit Insurance Corporation for certification as depositories for funds of the City.  For more information, please visit:

When will the IRS issue a levy?2019-07-02T06:43:37+00:00

If you do not pay your taxes (or make arrangements to settle your debt), and the IRS determines that a levy is the next appropriate action, the IRS may levy any property or right to property you own or have an interest in. For instance, the IRS could levy property that is yours, which may include your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions.  Upon receipt of a levy, the Treasurer’s Office will use IRS guidelines in calculation the amount to be deducted from your payroll check.

What actions must the Internal Revenue Service take before a levy can be issued?2019-07-02T06:43:09+00:00

The IRS will usually levy only after these three requirements are met:

  • The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
  • You neglected or refused to pay the tax; and
  • The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy. The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested. Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
Where does the Internal Revenue Service (IRS) authority to levy originate?2019-07-02T06:42:37+00:00

The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax. See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.

What is a levy?2019-07-02T06:42:12+00:00

A levy is a legal seizure of your property to satisfy a tax debt. Levies may be issued by the state or federal government to satisfy the tax debt.

How much can garnishments take from my paycheck?2019-07-02T06:41:46+00:00

Federal law places limits on how much judgment creditors can take from your paycheck. The amount that can be garnished is limited to 25% of your disposable earnings (what’s left after mandatory deductions) or the amount by which your weekly wages exceed 30 times the minimum wage, whichever is lower. The amount is determined by the courts.

How do I stop a wage garnishment?2019-07-02T06:41:12+00:00
  1. Figure out who is garnishing you and for what by contacting the Garnishment Clerkin the Treasurer’s Office.
  2. Talk to an attorney and, if appropriate, retain their services. The Treasurer’s Office does not provide legal advice. We simply administer legally mandated garnishments.
What is a garnishment?2019-07-02T06:40:41+00:00

Wage garnishment is the process of deducting money from an employee’s monetary compensation (including salary), usually as a result of a court order. Wage garnishments may continue until the entire debt is paid or arrangements are made to pay off the debt.

When does current support end on an order entered by another state?2019-07-18T21:31:18+00:00

Each state has its own laws on when current child support ends. You must review the laws of the state where your order was entered to determine when current child support ends. The Intergovernmental Reference Guide provides information on other states’ termination of support laws.

When does current child support end on a Missouri order?2019-07-02T06:39:55+00:00
  • Section 452.340, Revised Statutes of Missouri (RSMo), governs when a parent’s obligation to pay current child support terminates on an order entered by a Missouri court or the Family Support Division (FSD). The Treasurer’s Office must receive an updated court order to make any changes regarding child support. An obligation can only be terminated by:
  • Order;
  • Affidavit for Termination of Child Support filed according to subsection 452.340.12, RSMo; or
  • The child turning 21 years old.
What does the Treasurer do for child support orders?2019-07-02T06:39:25+00:00

The Treasurer has the following obligations:

  • Must report information about new employees to the Missouri Department of Revenue (sections 285.300 to 285.306, RSMo);
  • May be directed to provide salary and benefit information for a specific employee to Missouri Child Support or another state’s child support enforcement agency (section 454.440, RSMo);
  • May be ordered to withhold and pay over family support from an employee’s wages (sections 452.350 and 454.505, and sections 454.932 to 454.941, RSMo); and
  • May be ordered to enroll an employee’s child in a health benefit plan and to withhold the appropriate premium amount from the employee’s wages (sections 454.600 to 454.645, RSMo).

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