In the United States, the treasurer of a state is the official charged with overseeing revenue and finances and generally acting as the state's chief banker. Every state in the United States has a treasurer, though some have a different official title for the office. In New York and Texas there is no treasurer -- instead, those duties are performed by the controller.
Most states elect the treasurer; of those states, it is common for treasurer to be a constitutional executive office. Some states, however, treat the position as a member of the governor's cabinet, thus making the position a gubernatorial appointment.
HIGHLIGHTS
The position of state treasurer exists in 48 states; it is elected in 36 and appointed in 12.
Of the 12 states to appoint state treasurers, the governor is primarily responsible for appointment in eight, while the legislature is responsible in four.
In 2023, state treasurer salaries ranged from $238,794 in Massachusetts to $70,000 in Arizona.
As opposed to treasurers in the corporate world, state treasurers are often elected partisan offices who administer various programs and have control over financial decisions without being involved in the highly detailed day-to-day bookkeeping and accounting.
In some states, the treasurer may share financial duties with a comptroller, a chief financial officer or an auditor. Areas that often fall under a treasurer's job description include:
Debt management and debt policy
Disaster preparation
Pension fund administration
Oversight to prevent fraud with public money
Payroll matters for public employees
Investing public funds and managing portfolios
Political parties
The chart below is a breakdown of the political parties of the state executive office of treasurer. For other state executive offices, click here.
The position of treasurer is an elected office in 36 out of the 48 states where it exists. In the remaining 12 states, the position is appointed. In eight of those states the power of appointment is given to the governor, while in the remaining four the state legislature is empowered to select a treasurer.
Three states, Kentucky, Louisiana and Mississippi, held scheduled elections for treasurer in the 2011 electoral cycle. Two of the seats that were up for election were held by a Republican while another was held by a Democrat. Only one incumbent treasurer, Mississippi'sTate Reeves, did not run for re-election in 2011.
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