Pennsylvania Treasurer

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Pennsylvania Treasurer
General information
Office Type:  Partisan
Office website:  Official Link
2012-2013 FY Budget:  $1,145,496,000
Term limits:  2 terms
Length of term:   4 years
Authority:  Pennsylvania Constitution, Article IV, Section 1
Selection Method:  Elected
Current Officeholder
Name:  Christopher Craig
Assumed office:  January 30, 2015
Compensation:  $156,264
Next election:  November 8, 2016
Last election:  November 6, 2012
Other Pennsylvania Executive Offices
GovernorLieutenant GovernorSecretary of StateAttorney GeneralTreasurerAuditorSuperintendent of EducationAgriculture CommissionerInsurance CommissionerNatural Resources CommissionerLabor CommissionerPublic Service Commission
The Treasurer of the State of Pennsylvania is an elected, executive level position within the Pennsylvania state government. The treasurer is the chief financial officer of the government, responsible for managing the commonwealth's money and serving as Pennsylvania's banker.

Current officeholder

The current interim officeholder is Christopher Craig, who assumed the office on January 30, 2015. Craig replaced Rob McCord (D), who resigned effective earlier the same day following a federal investigation into campaign finance violations. Investigators found that McCord pressured two potential contributors to his failed gubernatorial run in 2014 by tying their donations to continued business with state offices. Craig will serve in office until Gov. Tom Wolf (D) selects a replacement for the remaining two years of McCord's elected term.[1]


The state Constitution establishes the office of treasurer in Article IV, Section 1:

The Executive Department of this Commonwealth shall consist of a Governor, Lieutenant Governor, Attorney General, Auditor General, State Treasurer, and Superintendent of Public Instruction and such other officers as the General Assembly may from time to time prescribe.


There are no specific qualifications for this office.


Article IV, Section 8 of the Pennsylvania Constitution grants the governor the power to appoint officers to fill vacancies. In the event of a vacancy in the office of treasurer, the governor nominates a successor. This nomination must be made to the commonwealth Senate within 90 days of the vacancy. The senate must then take action (confirming or not confirming the nomination) within 25 legislative days.[2]


The "paramount duty" of the Pennsylvania Treasurer is to safeguard the Commonwealth's financial assets, which total more than $120 billion of public monies.[3] The office manages several programs in order to better serve the financial needs of Pennsylvanians. The Better Choice Program provides a less costly alternative to traditional payday lenders, while the 529 College Savings Program eases the burden of paying for college. The INVEST program provides flexible and secure investing for local governments and non profit organizations, offering investment pools for both long- and short-term needs.

The Treasury Department is also responsible for:

  • reuniting unclaimed property with its rightful owner
  • investigating loss, theft, and fraud involving commonwealth checks
  • reviewing real estate leases and contracts entered into by commonwealth agencies
  • maintaining the Pennsylvania contracts electronic library[3]

The treasurer has specific duties in addition to the oversight of the department:

  • serves as Chair of the Board of Finance and Revenue, which selects banks to serve as depositories for state money
  • sets interest rates paid on commonwealth deposits
  • hears and decides state tax appeals[4]


Pennsylvania state government organizational chart

Pennsylvania elects the treasurer in presidential election years. For Pennsylvania, 2016, 2020 and 2024 are all treasurer election years. The term for the office begins on the third Tuesday of January following the election.

Term limits

Treasurers in Pennsylvania are prevented, by commonwealth law, from serving more than two successive terms. Additionally, Article IV, Section 18 of the Pennsylvania Constitution prevents the treasurer from holding the office of Auditor General until four years after their term as treasurer has ended.

Full history


The Pennsylvania Treasury has several bureaus to manage the myriad duties of the office:[4]

  • The Bureau of Communications is responsible for keeping the public informed about Treasury programs.
  • The Bureau of Contracts and Public Records maintains the commonwealth's Contracts e-Library.
  • The Bureau of Fiscal Review "pre-audits all expenditure requests."[4]
  • The Bureau of Human Resources and Training bears responsibility for personnel management.
  • The Bureau of Information Technology Solutions supports the information systems and technological support for the department.
  • The Bureau of Internal Audits and Change Management is an internal consulting and audit team, and is also responsible for coordinating external audits performed on the department.
  • The Bureau of Legislative Affairs serves as a liaison between the treasury and the Pennsylvania General Assembly, and also with the U.S. Congress.
  • The Bureau of Support Services maintains the automotive fleet, handles department mail, and manages the purchase and distribution of supplies, equipment, and services.
  • The Bureau of Unemployment Compensation Disbursement handles all unemployment compensation and state workers insurance fund disbursements.
  • The Comptroller's Office manages the department budget.
  • The Legal Office represents the department and staff in legal matters.

State budget

See also: Pennsylvania state budget and finances

The budget for the Treasury Department in Fiscal Year 2012-2013 was $1,145,496,000.[6]


See also: Compensation of state executive officers

The treasurer's salary is set by statute and subject to cost-of-living adjustments, also known as COLAs, pursuant to Section 3(e) of the Public Official Compensation Law (amended in 1995). This law mandates that Pennsylvania executives' salaries "shall be increased by applying the percentage change in the Consumer Price Index for All Urban Consumers (CPI-U) for the Pennsylvania, New Jersey, Delaware and Maryland area for the most recent 12-month period for which figures have been officially reported by the United States Department of Labor, Bureau of Labor Statistics (BLS) immediately prior to the date adjustment is due to take effect."[7]

Under this law, the appropriate salaries were last increased by 1.6 percent, effective January 1, 2015.[8]


In 2014, the treasurer received a salary of $156,264, according to the Council of State Governments.[9]


In 2013, the treasurer received a salary of $155,797, according to the Council of State Governments.[10]


In 2012, the treasurer received a salary of $152,443, according to the Council of State Governments.


In 2010, the treasurer received a salary of $145,529, according to the Sunshine Review.[11]

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Pennsylvania 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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Contact Information

Pennsylvania State Treasurer's Office
129 Finance Building
Harrisburg, PA 17120

Phone: (717) 787-2465

See also

External links

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