Arkansas Treasurer

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Arkansas Treasurer
General information
Office Type:  Partisan
Office website:  Official Link
2012 FY Budget:  $10,026,341
Term limits:  Two terms
Length of term:   Four years
Authority:  Constitution of Arkansas, Amendment 63, Article 6
Selection Method:  Elected
Current Officeholder

Dennis Milligan.jpg
Name:  Dennis Milligan
Officeholder Party:  Republican
Assumed office:  January 13, 2015
Compensation:  $54,848
Next election:  November 6, 2018
Last election:  November 4, 2014
Other Arkansas Executive Offices
GovernorLieutenant GovernorSecretary of StateAttorney GeneralTreasurerAuditorCommissioner of EducationAgriculture SecretaryInsurance CommissionerCommissioner of State LandsNatural Resources Exec. DirectorLabor DirectorPublic Service Commission
The Treasurer of the State of Arkansas is the chief financial officer of the government of Arkansas. The treasurer acts as the state's bank, accepting deposits in the form of taxes and fees, and disbursing funds to state agencies based on warrants from the auditor's office. The office is also responsible for providing state aid to local governments and investing the state's cash funds.

Current officeholder

The current officeholder is Dennis Milligan, a Republican first elected in 2014 and sworn in the following January for a four-year term.


The office of treasurer is established by Amendment 63 to Article 6 of the Arkansas Constitution.[1]

Constitution of Arkansas, Amendment 63

The Executive Department of this State shall consist of a Governor, Lieutenant Governor, Secretary of State, Treasurer of State, Auditor of State, Attorney General and Commissioner of State Lands, all of whom shall keep their offices at the seat of government, and hold their offices for the term of four (4) years, and until their successors are elected and qualified.


The Arkansas Constitution requires all elected or appointed officeholders to be an elector. That is, they must fulfill the state's voter registration requirements -- being a U.S. citizen, a resident of Arkansas, at least 18 years old. Felons and citizens judged to be mentally incompetent by a court are also ineligible to vote and, by extension, to hold office.

Other requirements to complete a voter registration form -- essentially, qualifications to be an elector -- are given by Amendment 59, Section 6 of the constitution.

Incumbents may not hold any other state, federal, or civil office, and may not have ever been convicted of "embezzlement of public money, bribery, forgery, or other infamous crime."

Constitution of Arkansas, Article 19, Section 3

No persons shall be elected to, or appointed to fill a vacancy in, any office who does not possess the qualifications of an elector.

Constitution of Arkansas, Article 5, Section 9

No person hereafter convicted of embezzlement of public money, bribery, forgery or other infamous crime, shall be eligible to the General Assembly or capable of holding any office of trust or profit in this State.

Constitution of Arkansas, Amendment 51, Section 6

(6) The mail voter registration application form shall include the following questions along with boxes for the applicant to check "yes" or "no" in response:
(A) "Are you a citizen of the United States of America and an Arkansas resident?;"
(B) "Will you be eighteen (18) years of age on or before election day?;"
(C) "Are you presently adjudged mentally incompetent by a court of competent jurisdiction?;"
(D) "Have you ever pleaded guilty or nolo contendere to, or found guilty of a felony without your sentence having been discharged or pardoned?;" and
(E) "Do you claim the right to vote in another county or state?."
(7) The mail voter registration application form shall include the following statements immediately following the questions asked in subdivision (a)(6) of this section:
(A) "If you checked "No" in response to either questions A or B, do not complete this form.;"
(B) "If you checked "Yes" in response to one or more of questions C, D, or E, do not complete this form.;" and


Arkansas state government organizational chart

Arkansans elect their treasurer for four-year terms during federal midterm election years (2006, 2010, 2014, etc.). Treasurers, like all Arkansas executives, served two year terms until 1982, when Amendment 63 to the Constitution of Arkansas increased the term length to its current level. The first elections held under the new system occurred in 1986, and every four years since.[2]


See also: Arkansas down ballot state executive elections, 2014
Treasurer of Arkansas, 2014
Party Candidate Vote % Votes
     Republican Green check mark transparent.pngDennis Milligan 56.4% 466,959
     Democratic Karen Sealy Garcia 37.3% 308,663
     Libertarian Chris Hayes 6.4% 52,640
Total Votes 828,262
Election Results via Arkansas Secretary of State.

Term limits

Treasurers, like all Arkansas executives, face an absolute limit of two terms in office.[3]


Per Article 6, Section 22 of the Arkansas Constitution, when the office of treasurer becomes vacant "by death, resignation, or otherwise," the governor appoints a replacement to complete the unexpired term.


The office of treasurer acts as the state's "bank;" it accepts and processes all receipts in the form of taxes, fees and other payments to the state, and disburses that money from over 400 fund accounts to over 200 state agencies. In fiscal year 2010, the treasurer's office processed $16.2 billion in receipts and $16.4 billion in state warrants (outlays). The treasurer is also responsible for providing state aid to local governments, which amounted to $1.3 billion in FY 2010. It also supervises the $894 million Arkansas state investment fund, which earned $43.6 million in interest in 2010. The treasurer makes a report "to the governor every biennium on the condition of the treasury and its operations."[4]


  • Local Government Services
  • Cash Management
  • CD Trust Investment
  • Receipts Processing
  • Warrants Processing
  • Collateral

State budget

The budget for the Arkansas State Treasurer's Office in Fiscal Year 2012 was $10,026,341.[5]


The salaries of members of the state's executive department, including the treasurer, are determined by the state constitution. A majority vote of all legislators and a voter referendum is required to change the compensation executive officials receive. However, salaries are automatically increased every year in line with increases in inflation as represented by the Consumer Price Index.[6]


In 2014, the treasurer received a salary of $54,847.92.[7]


In 2013, the treasurer received a salary of $54,305. This figure comes from the Council of State Governments.[8]


In 2010, the treasurer received compensation in the amount of $54,549.[9]

Historical officeholders

There have been 38 state treasurers of Arkansas since 1836.

Recent news

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Contact Information


Physical address:
Arkansas State Treasurer's Office
220 State Capitol
Little Rock, AR 72201

Phone: (501) 682-5888

See also

External links