Maryland Treasurer

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Maryland Treasurer
General information
Office Type:  Nonpartisan
Office website:  Official Link
2014 FY Budget:  $131,969,276
Term limits:  None
Structure
Length of term:   4 years
Authority:  Maryland Constitution, Article 6, Section 1
Selection Method:  Appointed by the State Legislature
Current Officeholder

Nancy Kopp.jpg
Name:  Nancy K. Kopp
Assumed office:  February 14, 2002
Compensation:  $125,000
Other Maryland Executive Offices
GovernorLieutenant GovernorSecretary of StateAttorney GeneralComptrollerTreasurerSuperintendent of EducationAgriculture SecretaryInsurance CommissionerNatural Resources CommissionerSecretary of LaborPublic Service Commission

The Maryland Treasurer is a state executive position in the Maryland state government. Elected to a four-year term by the General Assembly, the treasurer manages the money of the state.

Current officeholder

The current officeholder is Nancy K. Kopp. She was first appointed in February 2002 by the two houses of the state legislature, and was re-appointed in 2003, 2007 and 2011.[1]

Authority

The office of the Treasurer is established by Article 6, Section 1 of the Maryland Constitution.

Article 6, Section 1:

There shall be a Treasury Department, consisting of a Comptroller chosen by the qualified electors of the State, who shall receive such salary as may be fixed by law; and a Treasurer, to be appointed...

Qualifications

Note: Ballotpedia's state executive officials project researches the constitutional or statutory text that establishes the requirements necessary to qualify for a state executive office. That information for the Maryland Treasurer has not yet been added. After extensive research we were unable to identify any relevant information on state official websites. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Appointments

Maryland treasurers are appointed by the two houses of the state legislature at the beginning of each regular session in which begins the term of Governor. Thus, 2007, 2011 and 2015 are treasurer appointment years.

The treasurer qualifies within one month of his or her appointment.

Vacancies

Vacancies in the office of Treasurer are addressed in Article 6, Section 1 of the Maryland Constitution.

Article 6, Section 1:

In case of a vacancy in the office of the Treasurer by death or otherwise, the Deputy Treasurer shall act as Treasurer until the next regular or extraordinary session of the Legislature following the creation of the vacancy, whereupon the Legislature shall choose a successor to serve for the duration of the unexpired term of office.

Duties

The Treasurer is the principal custodian of the State's cash deposits, monies from bond sales, and other securities and collateral and directs the investments of those assets.

The Treasurer's duties include maintaining an ongoing relationship with the rating agencies, conducting outreach with State Agencies, keeping legislators informed of the operations of the State Treasurer's Office, and serving on numerous boards and commissions including the Board of Public Works, the State's highest administrative council.[2]

Divisions

Click here to view a larger-scale image of the Maryland Treasurer's office Organizational Chart as of January 14, 2013.

The Treasurer's Office includes an Executive Office and seven Divisions:[2]

  • Administration
  • Banking Services
  • Data Processing
  • Debt Management
  • Insurance
  • Investments
  • Legal Office

State budget

The Office of the State Treasurer's budget for fiscal year 2014 was $131,969,276.[3]

Compensation

See also: Compensation of state executive officers

2013

In 2013, the treasurer's salary remained at $125,000.[4]

2012

In 2012, the treasurer was paid an estimated $125,000. This figure comes from the Council of State Governments.

2010

In 2010, the Maryland Treasurer was paid an estimated $125,000 according to the Council of State Governments.[5]

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Maryland Treasurer has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Recent news

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Maryland Treasurer News Feed

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Contact information

Maryland State Treasurer's Office
Office of the State Treasurer
Treasury Bldg, Room 109
80 Calvert St.
Annapolis, MD 21401-1991

Phone: 410-260-7160
Email: nkopp@treasurer.state.md.us

See also

External links

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References