Strengthening the State

As Utah’s Treasurer, David protects Utah’s financial health and taxpayers’ interests with prudent debt and investment practices, policy advocacy, and oversight.

Ensure cost-effective investment in public infrastructure

David enhanced investor and rating agency relations and strengthened Utah’s premier AAA bond rating by:

David and his team have improved the efficiency and performance of Utah’s bond issues, saving over $91 million in interest costs by coordinating nine refinancing transactions, and by:

David has worked closely with Utah’s congressional delegation and other key members of Congress and staff to:

Ensure and enhance the prudent and profitable investment of taxpayer funds

As Utah’s Treasurer, David has overseen the prudent investment of pooled public funds, generating over $2 billion in stable interest income during his time in office.

Implement best practices and technology in banking and cash management

Together with his team, David has initiated and overseen numerous initiatives that streamline business processes and leverage technology, such as:

Develop and advocate for sound banking and investment policies

David has worked to strengthen and modernize Utah’s legal framework for the banking and investment of taxpayer funds by:

David, along with members of the institutional investment and public pension community, worked with congressional staff and members of Congress to preserve (in the TCJA, 2017) the exemptions from Unrelated Business Income Tax (UBIT) afforded to public pensions in the U.S.

Represent taxpayer interests on boards and commissions

David serves on the following boards and commissions, ensuring the prudent and professional management of taxpayer and trust resources :

In the Office

Run two lean and efficient agencies of the state

The Office of State Treasurer and the Unclaimed Property Division are small offices doing very important work with very few people - efficiency is maintained and enhanced over time through constant innovation and leveraging of smart technology.

Leading Discussion With Fellow State Treasurers (NAST) (1)