State Treasurer Colleen Davis Statement on Governor John Carney’s Proposed Budget

“I want to congratulate Governor Carney and his budget team for proposing a comprehensive spending plan designed to not only strengthen the state’s economy but also help take care of Delawareans. The Governor’s commitment to increase funding to the state’s COVID-19 response, fund the clean water initiative, and direct more money to schools will have direct benefit to our citizens.

The Governor also showed his determination to rebuild the state’s economy with significant financial enhancements to the State Strategic Fund, a Site Readiness Fund, the Delaware Prosperity Partnership, and the largest capital improvement plan in state history. Whether it be through my office’s participation on DEFAC, the Cash Management Policy Board or the various programs and initiatives that we offer to help State Employees and Delawareans save for retirement, college or for a loved one with disabilities, we will continue to assist the State through these uncertain times.

I look forward to seeing members of the Joint Finance and Bond Bill Committees convening their hearings and crafting spending plans that help everyone in Delaware while maintaining fiscal responsibility.”

State Treasurer Colleen Davis Appointed Committee Chair For the National Association of State Treasurers

The incoming President of the National Association of State Treasurers (NAST) has named Delaware State Treasurer Colleen Davis as Chair of NAST’s Banking and Cash Management Committee. Previously the Vice Chair, Davis will lead the committee in recommending policy for NAST and developing education content for NAST conferences and webinars.

“I’m honored to have been chosen for this important role,” said Treasurer Davis. “The committee will discuss important policy issues relating to banking and cash management that will benefit all State Treasurers and more importantly, the citizens they serve. I am grateful for the appointment by The Honorable Kelly Mitchell, Indiana State Treasurer and incoming NAST President.”

“I am pleased that Treasurer Davis has agreed to serve as Chair of the Banking Committee for NAST,” said Treasurer Mitchell. “I look forward to working alongside her, and I appreciate her commitment to public service.”

Joining Treasurer Davis on the committee are:

  • Hon. John Murante, Nebraska State Treasurer – Vice Chair
  • Hon. John Schroder, Louisiana State Treasurer
  • Hon. Bruno Fernandes, Washington D.C. Treasurer
  • Hon. Henry Beck, Maine State Treasurer
  • Hon. Dennis Milligan, Arkansas State Treasurer
  • Hon. David Damschen, Utah State Treasurer

NAST serves as the nation’s foremost authority for responsible state treasury programs and related financial practices, policies, and education.

More than 32,000 Delawareans May Be Eligible for Stimulus Payments

Non-filers have until October 15th to register

State Treasurer Colleen Davis urges Delawareans not typically required to file federal income tax returns to watch their mail for a letter from the Internal Revenue Service (IRS) saying they may qualify for a federal Economic Impact Payment (EIP). The letter urges recipients to visit the special Non-Filers: Enter Payment Info tool on before the Oct. 15 deadline to register for a payment.

“According to the IRS, letters are going to 32,875 Delawareans who don’t have to file a return,” Davis said. “Though the federal government has already sent payments to almost 500,000 people in Delaware, I want to make sure everyone gets a payment who is entitled to.”

People can qualify for a payment, even if they don’t work or have no earned income, however, not everyone can use the online tool. The tool should be used for those who do not normally and are not planning to file a federal income tax return for 2019 for any reason including income less than $12,200 (or $24,000 if married filing jointly), no income at all, or homelessness. Others, including low and moderate-income workers and working families receiving benefits such as the Earned Income Tax Credit or Child Tax Credit, will need to file a regular return as soon as possible. The IRS will use their tax return information to determine and issue any EIP for which they are eligible.

Those using the Non-Filers tool can speed up the arrival of their payment by choosing direct deposit. Those who do not choose direct deposit receive a check. Two weeks registering, people can track the status of their payment using the Get My Payment tool on the IRS website.

To date, Delawareans have received a total $810,451,229 worth of EIP payments.

“Treasury Talks” Debuts

Treasurer Davis hosts discussions on fiscal issues

Delaware State Treasurer Colleen Davis announces the first episode of “Treasury Talks,” an ongoing series of videos featuring people from around the state and around the country discussing financial related information that relates to everyone.

“’Treasury Talks’ gives me the opportunity to share not only the work of the Treasurer’s Office, but lots of information about economic matters that impact Delawareans,” Davis said. “I hope to provide a lot of insight into how we’re working for you, investing your tax dollars, and securing the State’s finances, especially during these turbulent times.”

The first episode of “Treasury Talks” features Delaware Secretary of Finance Rick Geisenberger looking at the state of the State’s investments and how Delaware is weathering the current economic storm.

“The new ‘Treasury Talks’ series is a great way to help inform the public on historic and emerging trends in the State’s finances and economy,” said Secretary Geisenberger. “I applaud Treasurer Davis for her leadership in promoting greater public participation in the policymaking and programs that benefit Delaware’s taxpayers, employees, savers and investors.”

Other scheduled guests include Dr. James Butkiewicz, economics professor at the University of Delaware, and Lisa Massena, former Executive Director of the OregonSaves retirement program in Oregon’s treasurer’s office.

A new edition of “Treasury Talks” will be posted every Thursday on the State Treasurer’s website and social media channels.

State Treasurer Colleen Davis Marks #ABLEtoSave Month

Campaign comes on the heels of record setting effort

To encourage people with disabilities to save for their futures, State Treasurer Colleen Davis is recognizing August as #ABLEtoSave Month, an effort to educate people with disabilities about the importance of opening ABLE (Achieving a Better Life Experience) accounts.

ABLE accounts are tax-advantaged savings accounts that allow individuals with disabilities to save for a broad range of expenses without jeopardizing their benefits from supplemental security income (SSI), Medicaid and other federal or state programs.

The primary goals of #ABLEtoSave are to increase awareness about ABLE accounts and to accelerate the amount of ABLE accounts opened in Delaware and across the country.

“There is no limit on what people with disabilities can do, so there’s no reason their ability to save should be limited,” said Treasurer Davis. “Since the creation of DEpendABLE, Delaware’s own ABLE program two years ago, some of the state’s most vulnerable citizens have gotten some security for tomorrow without affecting the services they need today.”

Just last month, nine new DEpendABLE accounts were opened, the highest one-month total since the plan began. To date, there are 95 funded DEpendABLE accounts representing $817,000 in total assets.

“We’re going to do everything we can to inform plan participants about ways to save and educate those who haven’t opened an account as to why they should during #ABLEtoSave Month,” Davis said. “Our goal is to have 100 DEpendABLE accounts by the end of the campaign.”

“Putting aside money for the future can be difficult for anyone, but especially for people with disabilities. That’s why I co-sponsored the Delaware ABLE Act, which today is helping some of our most vulnerable residents build a savings account without jeopardizing their disability benefits,” said Senate Majority Leader Nicole Poore (D – New Castle). “Best of all, Delaware allows friends and family to contribute to those accounts as well. If you’re the parent of a child with disabilities, I strongly encourage you to help them build some financial security and give yourself some peace of mind by opening an ABLE account today.”

“A disability should never preclude someone from enjoying a financially secure future,” said Sen. Trey Paradee (D – Dover). “But for our most vulnerable citizens, traditional savings accounts can put their disability benefits at risk. The DEpendABLE program offers a great solution that empowers our most vulnerable residents to make long-term planning decisions with the money they can put away in a tax-advantage account. Those funds also can be accessed for disability expenses, education and housing at any time without penalty. I encourage families to learn more about this powerful savings tool.”

“An ABLE account is a great resource for individuals with disabilities to save money for care they may need. I highly recommend those who qualify to check out the program and open an account,” said Senator Brian Pettyjohn (R – Georgetown).

“I know firsthand the complex financial challenges that confront families who have a loved one with special needs,” said State Representative Krista Griffith (D – Fairfax). “ABLE accounts can be a simple but powerful tool to help families address these challenges. And that’s why I opened an ABLE account for my son, Nate. I encourage Delawareans who have a disability or who are helping someone with a disability to explore the potential benefits of a Delaware ABLE account.”

State Rep. Kevin Hensley (R – Middletown) said, “As a co-sponsor of the original bill creating the ABLE accounts and as the father of an adult daughter with intellectual disabilities, I am a strong proponent of participation in this savings fund. In fact, my daughter, Jules, has set up our own ABLE account. If you or your family member is a person with disabilities, this is one of the best investments that can be made in your/their future.”

For more information about DEpendABLE, visit