The Treasury Division receives, deposits, and invests funds and pays all warrants, drafts, and orders. The Department issues, redeems, and pays interest on all bonds and notes and maintains custody of all trusts and bequests left to the City. Additionally, the Division issues payroll checks and required federal and state tax forms. The Division is responsible for establishing policies and procedures, monitoring compliance, and providing a central cashiering system as a resource to revenue generating departments.
Martin J. Walsh
Marty Walsh, the 54th Mayor of the City of Boston, has spent his life fighting for the people of his home city. From his days as a labor organizer, to his 17 years in the Massachusetts House of Representatives, to his first term in City Hall, Marty has always been committed to growing opportunities for everyone in Boston, no matter who they are or where they come from.
Marty is a proud product of the City of Boston, born to Irish immigrants in Dorchester with a strong sense of community. Marty’s father and his uncle were active in the leadership of Laborers Local 223, and the Walsh household was always filled with discussions of politics and the importance of fighting for the underdog. From an early age, Marty understood how government could help people find good jobs, send their kids to good schools, and feel safe in their neighborhood.
Marty’s defining experience as a young man was his recovery from alcoholism. He threw himself into the recovery community, where he built his sobriety by sharing it with others. He remains a passionate advocate for those struggling with addiction, carrying the message of hope from Boston’s streets to national platforms.
As Chief Financial Officer, Emme Handy serves as the Chief of the Administration and Finance Cabinet. In this role, she is responsible for sound fiscal stewardship of the City's human and financial resources to support the long-term growth and stability of the City. Her financial responsibilities include debt and investment management, financial reporting, budget development and oversight, tax administration, and administration of enterprise-wide financial systems. As Collector-Treasurer, she is the custodian of more than 300 City trust funds. Handy oversees many departments, including Assessing, Auditing, Budget, Community Preservation, Human Resources, Labor Relations, Purchasing, Registry, the Retirement Board, Collecting, and Treasury.
Emme Handy joined the City of Boston after serving as the Senior Director of Financial Planning and Analysis for the Broad Institute of MIT and Harvard, a scientific organization focused on improving human health. Prior to that, Handy served as Budget Director for the Commonwealth of Massachusetts and as legislative staff for the Massachusetts Senate Committee on Ways and Means. Handy is a Northeastern University graduate.
As the department head of Treasury for the City of Boston, Drew Smith is responsible for the management of revenue and distributions, management of the City's long-term debt and trust funds, and oversight and implementation of all Treasury statutory and regulatory requirements, and City policies and procedures to keep the City of Boston on solid fiscal footing. The Senior Deputy Treasurer is under the direction of the City's Chief of Administration and Finance, and directs and leads all aspects of the City's Treasury Division.
Drew Smith joined the City of Boston after having served as the Deputy Assistant Treasurer for Debt Management at the Massachusetts State Treasury, where he was responsible for management of $25 billion in outstanding debt; between $3-5 billion in annual debt issuance; and roughly $2.6 billion annually in monthly debt service supporting the Commonwealth's capital infrastructure programs and cash flow borrowing needs. Prior to that, Drew held positions at the Massachusetts Clean Water Trust, the Arkansas State Treasury, and Delta Trust Investments. Smith is a University of Arkansas graduate.
As Assistant Collector-Treasurer of the Treasury Division for the City of Boston, Richard DePiano assists the Senior Deputy Treasurer in day to day management of all aspects of the Treasury Division and is responsible for assisting and providing advice in the financial operations and administration of city revenue, cash management, banking, financial investments and administration of City trusts. In addition, Richard DePiano works collaboratively with the Senior Deputy Treasurer and division managers to evaluate and identify changes to the Division’s priorities, processes, organization and systems to ensure that the Division’s business processes and functions are consistent with modern and best practices.
Richard DePiano has been with the City of Boston for more than 37 years serving in various capacities in the Assessing and Treasury Departments. Over the last seven years, Richard DePiano has been the City’s Assistant Collector-Treasurer, collaborating with the Senior Deputy Treasurer and Chief Financial Officer. Rich is a graduate of Boston College with degrees in both Economics and Finance.