Arkansas Treasurer

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Arkansas

Arkansas State Executives
GovernorLieutenant Governor
Secretary of StateAttorney General
TreasurerAuditor
Commissioner of Education

Agriculture Secretary
Insurance Commissioner
Natural Resources Exec. Director
Labor Director
Public 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 treasurer is Martha Ann Shoffner, a Democrat, who was first elected in November 2006 and won re-election in 2010. Shoffner's second term will end in 2015, after which she will be constitutionally term-limited out of office.

Before becoming treasurer, Shoffner served in the Arkansas House of Representatives from 1996 to 2002, after which she unsuccessfully ran for state auditor.[1] Earlier in her career, she was a real estate agent and an assistant to the state auditor. She also worked in sales and marketing for Storer Cable. Shoffner attended Memphis State University and Arkansas State University and graduated from the National Institute for Public Finance at Northwestern University's Kellogg School of Business.[2]

Authority

The office of treasurer is established by Amendment 63 to Article 6 of the Arkansas Constitution.[3]

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.

Qualifications

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

Elections

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.[4]

Term limits

Treasurers, like all Arkansas executives, face an absolute limit of two terms in office.[5]

Vacancies

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.

Duties

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."[6]

Divisions

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

Compensation

In 2010, the treasurer received compensation in the amount of $54,549.[7] 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.[8]

Contact Information

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

Phone: (501) 682-5888

See also

External links

References