The West Virginia State Treasurer is the custodian of all securities received for collateral bonding by West Virginia State agencies, which includes all departments, commissioners, and agents of the State. Collateral bonding is placing a financial asset as a guarantee of performance for contract provisions.

Securities held in safekeeping by the Treasurer are intended to secure outstanding legal obligations. Common types of securities include cash, letter of credit, US Treasury bills and notes, US bonds, WV general obligation bonds, and escrow accounts. Securities will be held in custody until released in the manner provided by law.

Agency heads and their designees, particularly financial managers, are encouraged to review the provisions of W. Va. Code § 12-5-1, et seq. in order to determine agency obligations with regard to collecting and depositing securities and funds with the State Treasurer’s Office.

In order to utilize the Safekeeping services, a request must be made by a State agency. There are two ways the Treasurer’s Office holds items in safekeeping. First is in the vault at the Capitol complex for non-cash items. Second is with the State’s custodial bank for cash & securities. The forms to request access for each of these services are in the drop-down list. After completion of the request to open an account and approval by our office, your agency will have access to the Safekeeping System. The User Manual for the system and procedures for completion of the forms are included in the forms list.

Sub-Vaults

The Treasurer’s Office vault offers sub-vault space for use by state agencies, free of charge. Agencies may store items including stocks, bonds, historical documents, and other valuables.

For more information on safekeeping and sub-vault services, please call 304-558-5000 or email safekeeping@wvsto.com.