Making Higher Education Affordable and Accessible

She understands that when it's easier and costs less to save money for college, more parents will start saving.  Marshall has been leading the way offering many different savings methods so every family can choose what is right for them.

During Kate's tenure as Treasurer, the Prepaid Tuition program remains 109% funded, and enrollment numbers have more than doubled since 2007 resulting in a 150% increase in the number of contracts purchased by rural residents.  That means more families are paying today's college tuition rates and thus saving thousands of dollars many years before their children even start college.

Marshall created the Ugift program which enables family members and friends to contribute the gift of college savings.  She also created the Silver State Matching Grant program, to enhance college savings opportunities for lower and middle income families, and oversaw the creation of 100,000 new Nevada College Savings Plan accounts since 2006.

As Treasurer, Kate ensured the Governor Guinn Millennium Scholarship program was available to 2010 high school graduates.  She also successfully renegotiated a contract with Upromise, the state's college savings plan program manager, reducing fees for account holders and increasing revenue for the state.  Kate even eliminated annual fees for Nevada residents so that more of their money can go into savings for college.

Kate successfully negotiated another financially beneficial contract for Nevada residents, this time with Putnam Investments.  Putnam is one of the largest advisor-sold college savings investment firms in the nation and serves as the state’s advisor-sold program manager.  She also worked with Vanguard 529 College Savings Plan to obtain a 50% cut in program fees for account holders, and thanks to Kate, Nevada now has some of the most affordable college savings plans in the country.

Returning Unclaimed Property to Rightful Nevada Owners

Under Kate Marshall, the Unclaimed Property Division has transferred approximately $189 million to the Nevada General Fund, which is an increase of more than 140% over Kate's predecessor.  Since 2005, Treasurer Marshall has increased the amount of money returned to Nevadans from unclaimed property by 160% to $20.6 million, and still been able to make the largest unclaimed property transfer in the state’s history-- $66 million for FY 2010.

Marshall made the entire process of unclaimed property easier, cost less and run faster for businesses.  Treasurer Marshall created the Voluntary Disclosure program, which allows Nevada businesses to comply with the state’s unclaimed property laws without an assessment of penalties and interest.  She also implemented a Fast Track process for claims under $1,500, cutting in half the time it takes for a claim to be processed. 

Kate even negotiated an agreement with insurance giant John Hancock regarding unclaimed life insurance and annuity contracts that allows Nevadans to recover nearly $1 million in unclaimed life insurance benefits.

Creating Jobs and Maintaining a Stellar Credit Rating for Nevadans

Kate successfully got legislation passed enabling the investment of up to $50 million in Permanent School Fund money in businesses that expand in, or relocate to, Nevada creating jobs.  This new economic development tool will create jobs and foster economic diversification, all while generating more money for Nevada's public schools.

Marshall maintained the state’s excellent AA credit rating even through one of the worst financial crisis our nation has ever experienced, and she has kept debt service reserves well above the six month "best practices" level. 

Under Kate's watch, the Nevada Permanent School Fund Guarantee program maintained a AAA bond rating saving school districts millions in borrowing costs for construction and maintenance.  Thanks to Kate, those savings went directly into classrooms.

Investing State Dollars Responsibly

As Treasurer, Kate Marshall saved taxpayers millions of dollars by renegotiating contracts.  Kate renegotiated the state's main banking contract saving Nevadans $2.2 million dollars.  When Governor Sandoval asked her to cut 10% from her office budget, she found a way to cut 20%.  And last year, Marshall even gave 16% of the money that was given to the Treasurer’s Office back to the General Fund.  Kate knows how to trim the fat and she has consistently done it time and again.

Since 2007, Treasurer Marshall has added an unprecedented $305 million in interest she earned investing Nevadans' tax dollars to state and county budgets.  Kate's investments for Nevada have cumulatively beat the state's financial benchmarks by $85 million since 2007, and as Treasurer she has beat those financial benchmarks every single quarter, even during the worst financial crisis since the Great Depression.

Kate was able to add $2.3 million in additional money to the General Fund through the building of debt reserves well above the 6 month benchmark recommendation.  In 2009, Marshall used Build America Bonds to save taxpayers another $4.6 million.

Additionally, Kate made a $5 million profit for Nevada taxpayers by holding unclaimed or abandoned securities during the economic turmoil of 2009 and waiting to sell them after the market recovered.