PROVIDENCE, R.I. - General Treasurer Gina M. Raimondo today announced the launch of the state’s first investor relations portal, along with other upgrades related to improving the disclosure of state financial information in advance of two upcoming bond offerings.
“After months of hard work, my office, in conjunction with the Department of Revenue, has created a one-stop clearinghouse for all of the state’s pertinent financial information,” Raimondo said. “In this era of heightened financial scrutiny, it is important to increase access for taxpayers to our state’s most critical documentation.”
The Web portal, which can be accessed from the Treasury site, pools information from across state government into one area. Gathered information includes:
- Budget reports from the Department of Administration’s Budget Office - Revenue Estimating Conference reports - Division of Taxation reports - Employees’ Retirement System of Rhode Island financial statements, audits and valuations - Financial reports from the Auditor General - Official statements for bond offerings - State Investment Commission reports
“Transparency is paramount when it comes to public finances,” Raimondo said. “Building and maintaining trust and confidence is essential to moving the state onto firmer financial ground.”
In addition to creating the new Web portal, the state has also completed a review of its bond disclosure practices and improved the information statement and related bond disclosure information that will accompany all future bond offerings. The state also:
- Conducted informational meetings with bond rating agencies and institutional bond buyers - Reviewed the state’s bond portfolio with bond counsel, fiscal advisors and senior underwriters - Developed and hosted a standard training program for state employees on bond disclosure practices and standards