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Pennsylvania Treasurer
| Pennsylvania Treasurer | |
 | |
| General information | |
| Office Type: | Partisan |
| Office website: | Official Link |
| 2012-2013 FY Budget: | $1,145,496,000 |
| Term limits: | 2 terms |
| Structure | |
| Length of term: | 4 years |
| Authority: | Pennsylvania Constitution, Article IV, Section 1 |
| Selection Method: | Elected |
| Current Officeholder | |
 | |
| Name: | Rob McCord |
| Officeholder Party: | Democratic |
| Assumed office: | January 20, 2009 |
| Compensation: | $152,443 |
| Elections | |
| Next election: | November 8, 2016 |
| Last election: | November 6, 2012 |
| Other Pennsylvania Executive Offices | |
| Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Auditor • Superintendent of Education • Agriculture Commissioner • Insurance Commissioner • Natural Resources Commissioner • Labor Commissioner • Public Service Commission | |
Contents |
Current officeholder
The current officeholder is Rob McCord. He was first elected in 2008, and took office on January 20, 2009. He was recently re-elected January 15, 2013.
Authority
The state Constitution establishes the office of treasurer in Article IV, Section 1:
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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. |
Qualifications
There are no specific qualifications for this office.
Elections
Pennsylvania elects the treasurer in Presidential election years. For Pennsylvania, 2008, 2012, 2016, and 2020 are all treasurer election years. The term for the office begins on the third Tuesday of January following the election.
2012
Incumbent Rob McCord (D) defeated Diana Irey Vaughan (R) and Patricia Fryman (L) in the general election on November 6, 2012.[1] He was first elected in 2008.
| Pennsylvania Treasurer General Election, 2012 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic |  Rob McCord Incumbent |
52.5% | 2,872,344 | |
| Republican | Diana Irey Vaughan | 44% | 2,405,654 | |
| Libertarian | Patricia Fryman | 3.5% | 190,406 | |
| Total Votes | 5,468,404 | |||
| Election Results via Pennsylvania Department of State. | ||||
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.
Vacancies
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]
Duties
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]
Divisions
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
The budget for the Treasury Department in Fiscal Year 2012-2013 was $1,145,496,000.[5]
Compensation
- See also: Compensation of state executive officers
2012
In 2012, the treasurer was paid an estimated $152,443. This figure comes from the Council of State Governments.
2010
In 2010, the Pennsylvania Treasurer was paid an estimated $145,529 according to the Sunshine Review[6]
Contact Information
Pennsylvania State Treasurer's Office
129 Finance Building
Harrisburg, PA 17120
Phone: (717) 787-2465
See also
- Treasurer
- Rob McCord
- Pennsylvania Governor Ed Rendell
- Lieutenant Governor of Pennsylvania
- Pennsylvania Attorney General
- Pennsylvania Secretary of State
External links
- The Office of the Pennsylvania State Treasurer
- The Office of the Pennsylvania State Treasurer, About the Office
References
- ↑ Philadelphia Inquirer, "Election Results 2012," accessed November 7, 2012
- ↑ Pennsylvania State Legislature, "Executive branch," June 1, 2011
- ↑ 3.0 3.1 Pennsylvania Treasury, "About," June 1, 2011
- ↑ 4.0 4.1 4.2 Pennsylvania Treasury Profile 2011, Provided to staff by the treasury office, communication received June 6, 2011
- ↑ Pennsylvania Budget Office, "2012-13 Enacted Budget - Act 9A," accessed April 10, 2013
- ↑ The Sunshine Review, "Pennsylvania state government salary," June 1, 2011
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