Florida Chief Financial Officer
|Florida Chief Financial Officer|
|Office website:||Official Link|
|2013-2014 FY Budget:||$12,096,411|
|Length of term:||4 years|
|Authority:||Florida Constitution, Article IV, Section 4|
|Assumed office:||January 4, 2011|
|Next election:||November 6, 2018|
|Last election:||November 4, 2014|
|Other Florida Executive Offices|
|Governor•Lieutenant Governor•Secretary of State•Attorney General•Chief Financial Officer•Commissioner of Education•Agriculture Commissioner•Insurance Commissioner•Environmental Protection Secretary•Economic Opportunity Director•Public Service Commission|
The chief financial officer oversees the Florida Department of Financial Services, a conglomeration of state agencies including the Departments of Insurance, Treasury, State Fire Marshal and Banking & Finance. The Department of Financial Services, like the office of chief financial officer, was created by constitutional referendum in 1998 and officially became active on January 1, 2003.
The CFO's responsibilities generally overlap with those of a state treasurer or controller: he provides accounting, auditing, and payroll services to the state, manages the state's finances and oversees receipt and disbursement of monies.
Atwater was a member of the Florida Senate from 2002 to 2010 and President from 2008 to 2010. He was a state representative from 2000 to 2002. Before his election to state office, Atwater was vice mayor of North Palm Beach, Fla., from 1993 to 2000. Additionally, he has more than 25 years of experience in community banking.
(c) The chief financial officer shall serve as the chief fiscal officer of the state, and shall settle and approve accounts against the state, and shall keep all state funds and securities.
Like all members of the Florida cabinet, the chief financial officer must be at least 30 years old and have resided in the state for seven years prior to his election.
(b) When elected, the governor, lieutenant governor and each cabinet member must be an elector not less than thirty years of age who has resided in the state for the preceding seven years. The attorney general must have been a member of the bar of Florida for the preceding five years. No person who has, or but for resignation would have, served as governor or acting governor for more than six years in two consecutive terms shall be elected governor for the succeeding term.
The chief financial officer is elected to four-year terms in federal midterm election years (e.g. 2006, 2010, 2014). He assumes office on the first Tuesday after the first Monday in the January following his election.
|Florida Treasurer, 2014|
|Republican||Jeff Atwater Incumbent||58.9%||3,353,897|
|Election Results via Florida Division of Elections.|
There are no term limits associated with the office of chief financial officer.
The Governor of Florida fills a vacancy in any "state, district, or county office" by appointing a replacement to serve out the remainder of the term. If there is more than 28 months left remaining in the term when the vacancy occurs, the replacement appointee serves until the first Tuesday after the first Monday following the next general election.
The chief financial officer oversees the Florida Department of Financial Services. The department provides accounting and auditing services to state agencies, acts as the state's bank by disbursing and receiving funds into the treasury and performs other financial duties. In addition, the department performs non-financial regulatory duties, including insurance licensing and fraud investigation, funeral parlor and cemetery licensing and public assistance fraud investigation. Notably, the chief financial officer also acts as state fire marshal, which certifies firefighters, sets training standards and investigations potential arson.
- Accounting and Auditing
- Local Government
- State Payrolls
- Consumer Services
- Consumer Assistance
- Education, Advocacy and Research
- Consumer Outreach
- Funeral and Cemetary Services
- Insurance Agent and Agency Services
- Insurance Fraud
- Workers Compensation Fraud
- Crime Intelligence and Analytical Support
- Professional Standards and Planning
- Regional Offices
- Public Assistance Fraud
- Rehabilitation and Liquidation
- Risk Management
- Loss Prevention
- Claims Administration
- Deferred Compensation
- Collateral Management
- Funds Management
- State Fire Marshal
- Fire and Arson Investigations
- Forensic Fire and Explosives Analysis
- Fire Prevention
- Fire Standards and Training
- Workers' Compensation
- Employee Assistance and Ombudsman
- Monitoring and Audit
- Operations Support
- Data Quality and Collection
- Medical Services
- Special Disability Trust Fund
- See also: Florida state budget and finances
The budget for the Office of Chief Financial Officer in Fiscal Year 2013-2014 was $12,096,411.
- See also: Compensation of state executive officers
The salaries of elected executive officials in Florida are determined by state law as mandated in the Florida Constitution. Article II, Section 5 of the state constitution states that compensation of state officers is determined by the Florida State Legislature.
| Text of Section 5:
(a) No person holding any office of emolument under any foreign government, or civil office of emolument under the United States or any other state, shall hold any office of honor or of emolument under the government of this state. No person shall hold at the same time more than one office under the government of the state and the counties and municipalities therein, except that a notary public or military officer may hold another office, and any officer may be a member of a constitution revision commission, taxation and budget reform commission, constitutional convention, or statutory body having only advisory powers.
(b) Each state and county officer, before entering upon the duties of the office, shall give bond as required by law, and shall swear or affirm:
“I do solemnly swear (or affirm) that I will support, protect, and defend the Constitution and Government of the United States and of the State of Florida; that I am duly qualified to hold office under the Constitution of the state; and that I will well and faithfully perform the duties of (title of office) on which I am now about to enter. So help me God.”,and thereafter shall devote personal attention to the duties of the office, and continue in office until a successor qualifies.
(c) The powers, duties, compensation and method of payment of state and county officers shall be fixed by law.
In 2010, the chief financial officer received compensation in the amount of $128,972.
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Florida Department of Financial Services
200 East Gaines St.
Tallahassee, FL 32399-4228
- Florida Dept. of Financial Services, "About the Agency," accessed August 26, 2011
- Sunshine State News, Jeff Atwater Can Use 2014 as a Springboard for Higher Office, July 30, 2013
- Florida Dept. of Financial Services, "Meet the CFO," accessed August 26, 2011
- Florida Statutes, "114.04," accessed August 24, 2011
- Florida Fiscal Portal "Senate Bill 1500 - Laws of Florida Chapter 2013-040," 298-299," accessed June17, 2013
- Florida Office of Economic and Demographic Research, "Salaries of Elected County Constitutional Officers and School District Officials for Fiscal Year 2013-14," October 2013
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- Council of State Governments, "SELECTED STATE ADMINISTRATIVE OFFICIALS: ANNUAL SALARIES," accessed November 14, 2014
- The Council of State Governments, "Book of the States 2013, Table 4.11," accessed February 2, 2014