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 HARRISBURG, Pa., Feb. 3 /PRNewswire/ -- Pennsylvania State

Treasurer Catherine Baker Knoll announced today her intention to ask the voters of Pennsylvania to elect her to a second four-year term.
 Following is a listing of some of the accomplishments Knoll has achieved for state taxpayers in her first three years in office as well as a copy of her announcement letter sent to members of the Pennsylvania Democratic State Committee:
 Since her inauguration of Jan. 17, 1989, Knoll:
 -- Created HomeStart, an innovative program which provided $100 million in below-market-rate mortgages to eligible Pennsylvania homebuyers, especially single-parent families, first-time homebuyers and veterans not served by VA programs. Was commended for HomeStart by the federal housing commissioner.
 -- Created HomeStart II, which provides another $100 million in low- rate mortgages to eligible first- and second-time homebuyers. At the time of its implementation, HomeStart II offered the lowest 30-year fixed rate mortgages in America: 7.56 percent.
 -- Created the Pennsylvania Treasury Lease/Purchase Home Program to help potential homebuyers meet the high down payment and closing costs required to purchase a home by permitting a portion of their rent payment to be applied as their down payment. The effort is the first statewide lease/purchase program in America.
 -- Rescued the threatened subsidized student loans of 66,000 Pennsylvania college students from middle-income families with a $200 million investment in the Pennsylvania Higher Education Assistance Agency (PHEAA) for the 1990/91 school year, and continued those terms through the 1991/92 school year with an additional $260 million investment.
 -- Created or saved almost 10,000 jobs through Treasury's Linked Deposit Program. This program will invest up to $200 million in collateralized loans for economic development.
 -- Constructed the new state-of-the-art Treasury Investment Center in the Finance Building. This facility, with its sophisticated equipment, will earn an estimated additional $12 million annually. The Treasury Investment Center features a viewing gallery open to Pennsylvania citizens who wish to observe the investing of public funds.
 -- Invested $8.3 million in a new federally guaranteed rural housing program. Pennsylvania implemented this program in conjunction with Fannie Mae. It is administered by PHFA.
 -- Was presented with the Pennsylvania Builders Association First Annual State Official of the Year Award for her innovative affordable housing programs. Received the 1991 State & Local Government Affairs Recognition Award as the Outstanding State Official for the North Eastern/Mid-Atlantic Region from the National Association of Home Builders "for doing the most for housing."
 -- Pioneered a "Family and Medical Leave" plan for all Treasury employees at no additional expense to taxpayers.
 -- Initiated the Knoll/Shaffer Bipartisan Commission on Pennsylvania Pension Fund investments (co-chaired by state Sen. Tim Shaffer and Knoll) to assure that the almost $30 billion in state pension funds are being managed wisely.
 -- Was elected unanimously by her fellow state treasurers as the chair of the National Association of State Treasurers' (NAST) first Pension Fund Committee and chair of the National Association of State Auditors, Comptrollers and Treasurers' (NASACT) first Pension Fund Committee. Authored and fought successfully for enactment of resolutions by both NAST and NASACT to promote greater participation by qualified female, Afro-American and Hispanic financial professionals in obtaining pension funds business.
 -- Cut government fat and saved Pennsylvanians more than $1 million a year by eliminating an unproductive unit within the Treasury's Office of Field Services. The unit then consisted of 25 employees. Now it has four employees and has resulted in Treasury collecting more money than the previous inefficient and costly system.
 -- Returned $400,000 of her budget to help Pennsylvania taxpayers offset revenue shortfalls -- a step made possible by reorganizing and streamlining the entire Treasury Department to achieve savings through management reforms.
 -- Appointed Treasury's first inspector general, a former anti- corruption federal prosecutor, to help set and enforce the highest ethical standards throughout her office and help institute the Treasury Code of Conduct which, among other provisions, forbids Treasury employees from making political contributions to the state treasurer.
 -- Saved more than $50 million for Pennsylvania taxpayers by resurrecting the long-dormant pre-audit powers of the treasurer. All agency requests for payment are now completely reviewed for correctness and legality.
 -- Reformed the state's $84 million-per-year lease program by requiring competitive bidding, thereby minimizing opportunities for favoritism and corruption. Refuses to pay rent to landlords who do not live up to the terms and conditions of their state leases.
 -- More than quadrupled the number of personal computers in the Treasury from 30 to more than 130, bringing the Treasury into the computer age, increasing efficiency and eliminating work duplication, while cross-training staff to provide consistent professionalism and accountability in all areas of the Treasury.
 -- Will earn more than $1 million annually in additional interest earnings for the Commonwealth by instituting a new state-of-the-art electronic transfer system to capture excess funds held by state lottery retailers.
 -- Advocated a joint U.S. Postal Service/Treasury campaign to reform the state's antiquated and over-costly mail system by recommending centralization and computerization. This is projected to save about $3 million a year for Pennsylvania taxpayers.
 -- Established semiannual "shareholder" meetings to account publicly to all the commonwealth agencies that invest their funds in the Treasury short-term and intermediate-term "pools." In fiscal year 1990-1991 Treasury earned $317 million through investing Commonwealth funds.
 -- Won approval of her legislation (Act 134) to mandate Electronic Funds Transfer of various tax monies to maximize interest return for taxpayers. This legislation will earn approximately an additional $5 million annually in interest earnings for Pennsylvania taxpayers. Treasury, the Department of Revenue and a Strategic Business Leaders Committee are presently formulating the Regulations of Act 134.
 -- Initiated the "Invest in Pennsylvania" program whereby the Public School Employees Retirement System and State Employees Retirement System invested $100 million in local community state-approved depositories. This program is enabling Pennsylvania's money to be invested on Main Streets in Pennsylvania instead of on Wall Street.
 Knoll pledged to continue these innovations and reforms and to launch new ones in the future. Her goal is to provide professional, accountable and prudent services to the taxpayers of Pennsylvania.
 Fellow Pennsylvania Democrat:
 With this letter, I am announcing my candidacy for reelection as State Treasurer and I am respectfully asking for your support.
 When I received your confidence and support three years ago, I promised I would not fail that trust. I also promised to give you an accounting of our efforts in the Treasurer's Office. At this time, I would like to highlight some of our reforms and innovations.
 We have made a determined and successful effort to make complete use of the full constitutional powers of the Treasurer's Office. We have made significant reforms of the State's property lease programs by requiring competitive bidding. We have resurrected the long-dormant powers of the pre-audit function. I appointed the Treasury's first Inspector General to help set and enforce the highest ethical standards throughout Treasury.
 More efficient management has resulted from computerizing all work areas in Treasury, cross-training employees and ending work duplication. We returned $400,000 of Treasury's budget to help the taxpayers with the budget shortfall.
 Using Pennsylvania's money wisely for taxpayers is our constant mission. We have spearheaded economic development through our "Invest in Pennsylvania" program and our "Linked Deposit Program." Both programs have helped create or save thousands of jobs throughout Pennsylvania.
 Some of our most rewarding successes have occurred through innovative investments of taxpayers money, particularly in housing and education.
 We created HomeStart I and HomeStart II to stimulate home purchases and new construction jobs. The Pennsylvania Treasury Lease/Purchase Home Program is helping to overcome the down payment obstacle for many Pennsylvania families. We also invested in a new federally guaranteed rural housing program to reach out to all Pennsylvanians to help achieve their dream of owning a home. Our entire office is proud of the national recognition Pennsylvania has received for these innovations.
 We have twice rescued the college loans of more than 70,000 Pennsylvania students by fully secured investments in the Pennsylvania Higher Education Assistance Agency's college loan program.
 The fact is that we have been able to securely invest the assets of Pennsylvania's Treasury in economic development, home ownership and college education, while at the same time earning more than $1,000,000,000 for Pennsylvania taxpayers.
 This is precisely the kind of innovative use of state funds taxpayers expect from us, especially in today's very adverse economic circumstances.
 The diligent, hard-working Treasury employees deserve recognition for this outstanding record of accomplishment. They have my gratitude and I know they have yours.
 I look forward to visiting with you at my hospitality suite (The Orchestra Room) on Friday evening, February 7, 1992.
 With warmest personal regards,
 /s/ Catherine Baker Knoll
 Commonwealth of Pennsylvania
 -0- 2/3/92
 /CONTACT: John Seidman of the Committee for Catherine Baker Knoll, State Treasurer, 717-238-4153/ CO: Committee for Catherine Baker Knoll, State Treasurer ST: Pennsylvania IN: SU:

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Date:Feb 3, 1992

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