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Illinois State Treasurer
The Treasurer of Illinois is a constitutional officer in the executive branch of government of the U.S. state of Illinois. Seventy-four individuals have occupied the office of Treasurer since statehood. The incumbent is Mike Frerichs, a Democrat. A former Champaign County auditor and state senator, Frerichs was first elected to lead the state treasury in 2014 following a close race with Republican candidate Tom Cross. Eligibility and term of office The Treasurer is elected for a renewable four-year term during the quadrennial mid-term election. The Illinois Constitution provides that the Treasurer must, at the time of their election, be a United States citizen, at least 25 years old, and a resident of the state for at least three years preceding the election. Powers and duties The Treasurer is charged by Article V, Section 18 of the Illinois Constitution with the safekeeping and investment of the monies and securities deposited into the state treasury. As such, the Treasur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seal Of Illinois
The Great Seal of the State of Illinois is the official emblem of the U.S. state of Illinois, and signifies the official nature of a document produced by the state. The present seal was designed and proposed in 1868 and officially adopted in 1869. It depicts in profile a bald eagle perched on a rock with wings uplifted and holding a shield, with a banner in its beak and sunrise over water in the background. It replaced an earlier seal that was almost the same as the Great Seal of the United States, adopted when Illinois became a state in 1818. The flag of the state of Illinois bearing the central elements of the seal on a white field was adopted in 1915, and the word ''Illinois'' was added to the flag in 1970. In a 2001 survey by the North American Vexillological Association, the flag of Illinois was ranked 49th out of 72 different flags of states and territories of the U.S. and Canada. Design The current flag depicts the Great Seal of Illinois, which was originally designed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Financial Officer
A chief financial officer (CFO) is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances; i.a.: financial planning, management of financial risks, record-keeping, and financial reporting, and, increasingly, the analysis of data. The CFO thus has ultimate authority over the finance unit and is the chief financial spokesperson for the organization. The CFO typically reports to the chief executive officer (CEO) and the board of directors and may additionally have a seat on the board. The CFO directly assists the chief operating officer (COO) on all business matters relating to budget management, cost–benefit analysis, forecasting needs, and securing of new funding. Some CFOs have the title CFOO for chief financial and operating officer. In the majority of countries, finance directors (FD) typically report into the CFO, and FD is the level before reaching CFO. Legal requirement The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond (finance)
In finance, a bond is a type of Security (finance), security under which the issuer (debtor) owes the holder (creditor) a debt, and is obliged – depending on the terms – to provide cash flow to the creditor (e.g. repay the principal (i.e. amount borrowed) of the bond at the Maturity (finance), maturity date and interest (called the coupon (bond), coupon) over a specified amount of time.) The timing and the amount of cash flow provided varies, depending on the economic value that is emphasized upon, thus giving rise to different types of bonds. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and Share capital, stocks are both Security (finance), securities, but the major difference between the two is that (capital) stockholders h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrage
Arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more marketsstriking a combination of matching deals to capitalize on the difference, the profit being the difference between the market prices at which the unit is traded. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge. When used by academics in economics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price. In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to ''expected'' profit, though losses may occur, and in practic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Portfolio (finance)
In finance, a portfolio is a collection of investments. Definition The term "portfolio" refers to any combination of financial assets such as stocks, bonds and cash. Portfolios may be held by individual investors or managed by financial professionals, hedge funds, banks and other financial institutions. It is a generally accepted principle that a portfolio is designed according to the investor's risk tolerance, time frame and investment objectives. The monetary value of each asset may influence the risk/reward ratio of the portfolio. When determining asset allocation, the aim is to maximise the expected return and minimise the risk. This is an example of a multi-objective optimization problem: many efficient solutions are available and the preferred solution must be selected by considering a tradeoff between risk and return. In particular, a portfolio A is dominated by another portfolio A' if A' has a greater expected gain and a lesser risk than A. If no portfolio dominates A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Management
Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various Security (finance), securities, including shareholdings, Bond (finance), bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contract, contracts/mandates or via collective investment schemes like mutual funds, exchange-traded funds, or REIT, Real estate investment trusts. The term ''investment management'' is often used to refer to the management of investment funds, most often specializing in private equity, private and public equity, real assets, alternative assets, and/or bonds. The more generic term ''asset management'' may refer to management of assets not necessarily primarily held for investment purpos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Liquidity
In accounting, liquidity (or accounting liquidity) is a measure of the ability of a debtor to pay their debts as and when they fall due. It is usually expressed as a ratio or a percentage of current liabilities. Liquidity is the ability to pay short-term obligations. Calculating liquidity For a corporation with a published balance sheet there are various ratios used to calculate a measure of liquidity. These include the following: * The current ratio is the simplest measure and calculated by dividing the total current assets by the total current liabilities. A value of over 100% is normal in a non-banking corporation. However, some current assets are more difficult to sell at full value in a hurry. * The quick ratio is calculated by deducting inventories and prepayments from current assets and then dividing by current liabilities, giving a measure of the ability to meet current liabilities from assets that can be readily sold. A better way for a trading corporation to meet l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Management
Treasury management (or treasury operations) entails management of an enterprise's financial holdings, focusing on the firm's liquidity, and mitigating its financial-, operational- and reputational risk. Treasury Management's scope thus includes the firm's collections, disbursements, concentration, investment and funding activities. In corporates, treasury overlaps the financial management function, although the former has the more specific focus mentioned, while the latter is a broader field that includes financial planning, budgeting, and analysis. In banks, the function plays a slightly different, more integral role, managing also the link between the institution and the financial markets. In both, there is a close relationship with the financial risk management area. Permjit Singh (2021)"The Corporate Treasurer Serves as a Financial Risk Manager" Investopedia A company's treasury operation, typically, is under control of the CFO or Vice-president / Director of Fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fund Accounting
Fund accounting is an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law.Leon E. Hay (1980). ''Accounting for Governmental and Nonprofit Entities, Sixth edition'', page 5. Richard D. Irwin, Inc., Homewood, IL. It emphasizes accountability rather than profitability, and is used by nonprofit organizations and by governments. In this method, a ''fund'' consists of a self-balancing set of accounts and each are reported as either unrestricted, temporarily restricted or permanently restricted based on the provider-imposed restrictions. The label ''fund accounting'' has also been applied to investment accounting, portfolio accounting or securities accounting – all synonyms describing the process of accounting for a portfolio of investments such as securities, commodities and/or real estate held in an investment fund such as a mutual fund or hedge fund. Investment acco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depository Institutions
Colloquially, a depository institution is a financial institution in the United States (such as a savings bank, commercial bank, savings and loan associations, or credit unions) that is legally allowed to accept monetary deposits from consumer A consumer is a person or a group who intends to order, or use purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. ...s. Under federal law, however, a "depository institution" is limited to banks and savings associations - credit unions are not included (debatable). An example of a non-depository institution might be a mortgage bank. While licensed to lend, they cannot accept deposits. See also * Authorised deposit-taking institution References * Ruben D Cohen (2004) �The Optimal Capital Structure of Depository Institutions��, ''Wilmott Magazine'', March issue. Financial services in the United St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit (finance)
A deposit is the act of placing cash (or cash equivalent) with some entity, most commonly with a financial institution, such as a bank. The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date. Deposits are usually the main source of funding for banks. Types Demand deposit A demand deposit is a deposit that can be withdrawn or otherwise debited on short notice. Transaction accounts (known as "checking" or "current" accounts depending on the country) can be used to pay other parties, while savings accounts are typically payable only to the depositor or another bank account, and may have limits on the frequency of withdrawal. Time deposit Deposits which are kept for any specific time period are called time deposit or often as term deposit. * Term deposit (or ''time deposit''), bear a fixed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Receiver General
A receiver general (or receiver-general) is an officer responsible for accepting payments on behalf of a government, and for making payments to a government on behalf of other parties. See also * Treasurer * Receiver General for Canada * Receiver General of Cornwall * Receiver-General of the Duchy of Lancaster * Receiver General of the Isle of Man {{Politics of the Isle of Man The receiver-general of the Isle of Man was an appointment made by the Lieutenant Governor (Isle of Man), lieutenant governor. Until 1919, the receiver-general had a seat in the Legislative Council of the Isle of Ma ... * Receiver General of Jamaica * Receiver General of Westminster Abbey {{Job-stub Government occupations Political titles ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
