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Timothy P. Cahill serves
as Massachusetts State Treasurer and Receiver General. As the Commonwealth’s
Chief Financial Officer, he brings a business-minded approach to managing the
state’s finances and has implemented better business practices in the
Treasury’s departments and affiliated agencies.
Treasurer Cahill's accomplishments include:
Managing the Massachusetts School Building Authority, an independent agency
reformed in 2004 that oversees all school construction financing. The MSBA will
clear a backlog of “wait listed” project reimbursements in 2 years, and will
begin payments for new school construction projects in FY08, saving taxpayers
millions of dollars.
Returning $936 million in Lottery aid to the state in FY2005 - the largest
amount of Lottery assistance ever generated for the Commonwealth – and more
than $2 billion to the state since taking office.
Reallocating assets of the Pension Reserves Investment Trust Fund, which has
increased over 50% since Treasurer Cahill took office, including its highest
return in history of 26.42% in 2003. As of December 31, 2005, the PRIT Fund
totaled over $40.2 billion.
Returning $135 million in abandoned property to rightful owners, and collecting
a record $851 million since FY03 – the highest amount ever collected in
Massachusetts’ history. Partnering with eBay, Treasurer Cahill also launched
the first ever on-line auction of tangible property in Massachusetts in 2005.
Prior to his election in 2002, Cahill served as Norfolk County Treasurer from
1997-2002, as a Quincy City Councilor from 1987-2003, and was a successful
small business owner and the author of a book about local businessmen.
Treasurer Cahill lives in Quincy with his wife, Tina, and their four daughters.
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