Connecticut Treasurer

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Connecticut Treasurer

Seal of Connecticut.png
General information
Office Type:  Partisan
Office website:  Official Link
2012-2013 FY Budget:  $126,823,768
Term limits:  None
Structure
Length of term:   4 years
Authority:  Connecticut Constitution, Article IV, Section 23
Selection Method:  Elected
Current Officeholder

Denise Nappier.jpg
Name:  Denise L. Nappier
Officeholder Party:  Democratic
Assumed office:  January 1999
Compensation:  $110,000
Elections
Next election:  November 4, 2014
Last election:  November 2, 2010
Other Connecticut Executive Offices
Governor•Lieutenant Governor•Secretary of State•Attorney General•Treasurer•Comptroller•Commissioner of Education•Agriculture Commissioner•Insurance Commissioner•Energy & Environmental Protection Commissioner•Labor Commissioner•Public Utilities Regulatory Authority

Contents

The Treasurer of the State of Connecticut is the chief financial officer of the government of Connecticut. The treasurer is responsible for maintaining the state funds and acting as the state's bank. The executive office is one division of the department, the other five departments are the cash management area, debt management, second injury fund, pension fund management division, and the unclaimed property division.

Current officeholder

The current officeholder is Democrat Denise L. Nappier. She was first elected to the office in November, 1998. She was re-elected to a fourth term in 2010, defeating Republican Jeff Wright in the general election.

Authority

The office of treasurer is established in Article IV of the state constitution.

Connecticut Constitution, Article IV, Section 23

The treasurer shall receive all monies belonging to the state, and disburse the same only as he may be directed by law. He shall pay no warrant, or order for the disbursement of public money, until the same has been registered in the office of the comptroller.

Qualifications

In order to be eligible for the office of Treasurer, one must be a citizen of the United States, a qualified voter, and a Connecticut resident for an unspecified number of years.[1]

Elections

Article 4, Section 1:

A general election for governor, lieutenant-governor, secretary of the state, treasurer and comptroller shall be held on the Tuesday after the first Monday of November, 1966, and quadrennially thereafter. Such officers shall hold their respective offices from the Wednesday following the first Monday of the January next succeeding their election until the Wednesday following the first Monday of the fifth January succeeding their election and until their successors are duly qualified.

Term limits

Connecticut state executive officers, including the treasurer, do not face term limits.

Vacancies

If the office of treasurer becomes vacant, the state legislature jointly appoints a replacement; if the legislature is out of session the governor fills the vacancy.[2]

General Statutes of Connecticut, 9-146-213

If the office of the Treasurer becomes vacant, the General Assembly, if in session, shall fill the vacancy for the unexpired portion of the term. (2) If the vacancy occurs when the General Assembly is not in session, or if the General Assembly fails to make an appointment to fill the vacancy and the vacancy does not occur in the year in which a state election is to be held for the office of the Treasurer, the Governor shall appoint a person to serve as acting Treasurer until the next regular session of the General Assembly at which time the Governor shall nominate a successor for the office of Treasurer who shall be subject to approval by the General Assembly. (3) If the vacancy occurs when the General Assembly is not in session or if the General Assembly fails to make an appointment to fill the vacancy and the vacancy occurs in the year in which a state election is to be held for the office of the Treasurer, the Deputy Treasurer shall fill the vacancy for the unexpired portion of the term.

Duties

The responsibilities of the Treasurer include, but are not limited to:[3]

  • Cash management
  • Investment of retirement funds
  • Investment of trust funds
  • Management of bonded debt
  • Bond issuance
  • Debt service
  • Arbitrage rebate
  • Banking services
  • Unclaimed property
  • College savings
  • Local government investment pool

Divisions

The office of the treasurer includes the Executive Office, along with the following five divisions:[4]

  • Cash Management
  • Debt Management
  • Second Injury Fund
  • Pension Fund Management Division
  • Unclaimed Property Division

State budget

The budget for the Treasurer's Office in the 2012-2013 Fiscal Year was $126,823,768.[5]

Compensation

See also: Compensation of state executive officers

In 2012, the Connecticut Treasurer was paid an estimated $110,000. This figure comes from the Council of State Governments.

The treasurer is paid according to General Statutes of Connecticut Chapter 32, Sec.3-11:

The Treasurer shall receive an annual salary of one hundred ten thousand dollars. Before entering upon the execution of the duties of the office, the Treasurer shall give a bond to the state, with sufficient surety, in the sum of two hundred thousand dollars, for the term for which the Treasurer has been elected, which bond shall be conditioned for the faithful performance of such duties other than in connection with the School Fund. The Treasurer shall devote full time to the duties of the office.

[6]

Historical officeholders

Click "show" for former officeholders.

Recent news

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

Connecticut Treasurer News Feed


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Contact Information

Connecticut State Treasurer's Office
55 Elm Street
Hartford CT 06106

Phone: (800) 618-3404

See also

External links

References

  1. ↑ [The Council of State Governments, "Book of States 2011- Table 4.25", accessed February 17, 2012]
  2. ↑ General Statutes of Connecticut, "9-146-213," accessed February 21, 2012
  3. ↑ [The Council of State Governments, "Book of States 2011- Table 4.26", accessed February 17, 2012]
  4. ↑ Connecticut Office of the Treasurer, " About," accessed January 4, 2013
  5. ↑ Connecticut Office of Policy and Management Budget Documents, "20132-2013 Biennium Governor's Budget," accessed May 28, 2013
  6. ↑ General Statutes of Connecticut, "Chapter 32 Section 3-11," accessed February 21, 2012
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