Pennsylvania Treasury Deparment

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Despite having a balanced 2016-2017 budget, Pennsylvania has taken out a loan to pay its bills. 

The state's $31.5 billion budget approved in June created revenue increases, including a new tax on video streaming services and higher taxes on tobacco, but some of those have yet to start flowing into the state.

Fearing the Revenue Department’s check book, officially known as its general fund, would hit zero before those new taxes arrived, the department asked the state treasurer to give it a $2.5 billion line of credit.

Pennsylvania Treasury

Pittsburgh was recently named one of the top ten cities in the United States for small business activity, according a new study of entrepreneurial activity across the country conducted by the Kauffman Foundation of Kansas City, Mo.

In the aftermath of the 2008 financial collapse, Pennsylvania Treasurer Timothy Reese applauds the city’s comeback, but wants to continue providing resources for small businesses looking to expand throughout the Commonwealth.

While many holiday gift givers will be heading out to the stores Monday and Tuesday for a few last-minute gifts, Pennsylvania Treasurer Rob McCord is offering another solution: give to a loved one’s college fund.

It might not a huge shopping mall, but the State Treasury is offering shoppers a way to find unusual presents this holiday season.

Treasurer Rob McCord suggested holiday shoppers log onto the Treasury’s eBay auction site.

“One reason why it’s great at this time of the year is people start to look around for unusual gifts and great buys, great discounts,” McCord said. “And I’m very proud that Pennsylvania was the first state to have a continuous eBay auction for unclaimed property.”

The Pennsylvania Treasury Department wants military veterans or their heirs to get the military medals they rightfully deserve.

The Treasury is trying to return some of the 300 military medals the department has acquired over the years.

In conjunction with Veterans Day, State Treasurer Rob McCord is urging his Return Team to renew their efforts in finding the rightful owners or heirs to unclaimed war medals.

Three years after the Commonwealth of Pennsylvania began divesting from companies taking part in “scrutinized activities” in Iran or Sudan, it has not resulted in a loss of investment revenue but rather a net gain.