DAGS Releases Annual Report of State Treasury Audit

HONOLULU - The state of Hawaiʻi Department of Accounting and General Services (DAGS) is required by state statute to audit the state treasury once per fiscal year. Its Audit Division just released the findings of the latest report, which covered last fiscal year.

The state treasury is housed in the Department of Budget and Finance's Financial Administration Division. The audit reconciles the amount of money and securities in the state treasury with the state comptroller's records or bank deposit records.

DAGS found the records to be in order. The Budget and Finance Department agreed.

Acting Lieutenant Governor Keith Regan, who is also the DAGS director and state comptroller, says, "This yearly audit provides critical oversight to make sure public funds are managed lawfully, transparently and effectively. Clean audits build confidence among taxpayers and legislative bodies."

The state treasury balance as of June 30, 2026 - the end of the fiscal year - is just over $16.1 billion. Most of the state's assets are in securities; over $14.5 billion. The state cannot deposit more than 60% of its money with one bank, unless the interest rate at a certain bank is larger than other banks.

Audit Division Administrator Ron Shiigi adds, "A transparent audit can also improve a state's creditworthiness. It's something we do every year to mitigate risks and enhance effectiveness of the treasury function."

The report is posted to DAGS' website at https://ags.hawaii.gov/wp-content/uploads/2026/11/Money-Securities-Audit-Report-063026.pdf.