Treasurer Torsella Authorizes Short-Term Transfer

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced that Treasury authorized a transfer of assets to cover a cash shortage in the General Fund as a result of an unforeseen delay of federal general assistance reimbursement to be received on January 15, 2019.

The short-term transfer of $400 million from Treasury’s Short Term Investment Pool to the General Fund was utilized over a 17-hour time period to ensure timely Commonwealth payments. Funds were returned to the Short Term Investment Pool the following day.

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