Utah Treasurer

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Utah Treasurer
General information
Office Type:  Partisan
Office website:  Official Link
2013 FY Budget:  $2,871,800
Term limits:  None
Structure
Length of term:   4 years
Authority:  Utah Constitution, Article VII, Section 1
Selection Method:  Elected
Current Officeholder

Richard Ellis.jpg
Name:  Richard Ellis
Officeholder Party:  Republican
Assumed office:  January 5, 2009
Compensation:  $104,000
Elections
Next election:  November 8, 2016
Last election:  November 6, 2012
Other Utah Executive Offices
GovernorLieutenant GovernorAttorney GeneralTreasurerAuditorSuperintendent of EducationAgriculture CommissionerInsurance CommissionerNatural Resources CommissionerLabor CommissionerPublic Service Commission
The Treasurer of Utah is an elected executive position in the Utah state government. The treasurer is the state's chief financial officer, responsible for the management of taxpayer dollars. As the custodian of public money and the central bank for state agencies, the treasurer oversees the collection, safeguarding, investment and disbursement of state funds.[1]

Current officeholder

The current officeholder is Richard Ellis.

Authority

The office of treasurer is established in Article VII, Section 1 of the state constitution.

Article VII, Section 1:

The elective constitutional officers of the Executive Department shall consist of Governor, Lieutenant Governor, State Auditor, State Treasurer, and Attorney General...

Qualifications

Article VII, Section 3 of the Utah Constitution establishes the qualifications of the office:

  1. To be eligible for the office of Governor or Lieutenant Governor a person shall be 30 years of age or older at the time of election.
  2. To be eligible for the office of Attorney General a person shall be 25 years of age or older, at the time of election, admitted to practice before the Supreme Court of the State of Utah, and in good standing at the bar.
  3. To be eligible for the office of State Auditor or State Treasurer a person shall be 25 years of age or older at the time of election.
  4. No person is eligible to any of the offices provided for in Section 1 unless at the time of election that person is a qualified voter and has been a resident citizen of the state for five years next preceding the election.
  • a qualified elector
  • a resident of Utah for five years next preceding election
  • at least 25 years old

Elections

Utah state government organizational chart

According to Article VII, Section 2 of the state constitution, Utah voters elect the governor, lieutenant governor, attorney general, treasurer, and auditor...

...every four years at the time and place of voting for members of the Legislature. The candidates respectively having the highest number of votes cast for the office voted for shall be elected. If two or more candidates have an equal and the highest number of votes for any one of the offices, the two houses of the Legislature at its next session shall elect by joint ballot one of those candidates for that office.

  • Per Article VII, Section 1, the newly elected treasurer takes office beginning on the first Monday of January next after their election.

Full History


Vacancies

In the event of a vacancy in the office of attorney general, treasurer, auditor, or superintendent of public instruction, Article VII, Section 10 of the state constitution allows the governor to fill the vacancy by appointment. The appointee must be from the same political party as the removed officer, and shall hold the office until a successor is elected and qualified.

Duties

The treasurer is responsible for the state's collection, concentration, disbursement and investment processes. The office administers the Public Treasurers’ Investment Fund, which provides daily liquidity to state agencies and over 700 local government entities throughout Utah, and several long-term investment funds and a portfolio of statutorily required government escrow accounts and letters of credit.[2]

The specific duties of the treasurer are outlined in Title 67, Chapter 4, Section 1 of the Utah code:[3]

  • receive and maintain custody of all state funds;
  • unless otherwise provided by law, invest all funds delivered into the state treasurer's custody according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act;
  • pay warrants drawn by the Division of Finance as they are presented;
  • return each redeemed warrant to the Division of Finance for purposes of reconciliation, post-audit, and verification;
  • ensure that state warrants not presented to the state treasurer for payment within one year from the date of issue, or a shorter period if required by federal regulation or contract, are canceled and credited to the proper fund;
  • account for all moneys received and disbursed;
  • keep separate account of the different funds;
  • keep safe all bonds, warrants, and securities delivered into his custody;
  • at the request of either house of the Legislature, or of any legislative committee, give information in writing as to the condition of the treasury, or upon any subject relating to the duties of his office;
  • keep the books open at all times for the inspection by the governor, the state auditor, or any member of the Legislature, or any committee appointed to examine them by either house of the Legislature;
  • authenticate and validate documents when necessary;
  • adopt a seal and file a description and an impression of it with the Division of Archives; and
  • discharge the duties of a member of all official boards of which he is or may be made a member by the Constitution or laws of Utah.

Divisions

Note: Ballotpedia's state executive officials project researches state official websites for information that describes the divisions (if any exist) of a state executive office. That information for the Utah 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.

State budget

The budget for the State Treasurer's office in Fiscal Year 2013 was $2,871,800.[4]

Compensation

See also: Compensation of state executive officers

2013

In 2013, the Utah Treasurer was paid an estimated $104,000. This figure comes from the Council of State Governments.[5]

2012

In 2012, the Utah Treasurer was paid an estimated $104,000. This figure comes from the Council of State Governments.

Historical officeholders

There have been 24 treasurers of Utah since 1896.[6]

Recent news

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All stories may not be relevant to this page due to the nature of the search engine.

Utah Treasurer News Feed

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Contact information

Utah

Utah State Treasurer's Office
350 N. State Street, Suite 180
P.O. Box 142315
Salt Lake City, UT 84112-2315

Phone: (801) 538-1042
Fax: (801) 538-1465
E-mail: sto@utah.gov

See also

External links

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References