Delaware Treasurer

Delaware State Executives

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The Treasurer of the State of Delaware is the chief financial officer of the government of Delaware. The treasurer's office is responsible for providing banking, accounting and investment services to the state government.

Current officeholder

The current treasurer is Chipman "Chip" Flowers, Jr., a Democrat, who assumed office in January 2011 after his election in November 2010. His term will end in January 2015.

Before becoming treasurer, Flowers ran Flowers Counsel Group, LLC, a law firm specializing in mergers and acquisitions and procurement law. Flowers has also worked as Democratic political analyst for the news program Delaware Tonight on WHYY-TV, and as a staff attorney for the firm of Skadden, Arps, Slate, Meagher & Flom, LLP. Flowers holds an M.P.A. from Harvard University, an M.B.A. and J.D. from Georgetown University, and a bachelor's degree from the University of Pennsylvania.

Authority

The office of treasurer is established in Article III, Section 21 of the state constitution.

The terms of the office of the Attorney General, the Insurance Commissioner, the Auditor of Accounts and the State Treasurer shall be four years. These officers shall be chosen by the qualified electors of the State at general elections, and be commissioned by the Governor.

Qualifications

There are no particular qualifications for the office of treasurer.

Elections

Per Article III, Section 10 of the state constitution, treasurers are elected every four years during federal midterm elections (2006, 2010, 2014, etc.). Officeholders are sworn in during January of the year following their election.

Term limits

There are no term limits for the office of treasurer.

Vacancies

If a vacancy occurs in the office of treasurer, the governor appoints a replacement to serve until the next election. Details of vacancy appointments are laid out in Article III, Section 9 of the Delaware Constitution.

Duties

The treasurer's office is responsible for providing banking, accounting and investment services to the state government. It ensures all receipts and disbursements are accounted for, issues state bonds, and operates state employees' savings and retirement funds. It also produces analysis of the state's economy and financial education services to state residents.

Divisions

• Executive Office of the Treasurer
  • Strategic Initiatives
  • IT
  • Budget
  • Legislative Liasion
• Office of Finance & Treasury Services
  • Savings & Retirement Programs
  • Banking & Cash Management Services
  • Debt Management
  • Investment Management
• Office of Economic Policy
  • Economic Early Warning System
  • Delaware Economic Index
  • Financial Education
  • Community Outreach
• Office of Disbursements & Reconciliations
  • Payment Disbursements
  • Account Reconciliations
  • Internal Audit
  • Payment Services

Compensation

In 2010,In 2010, the treasurer received compensation in the amount of $107,300. The secretary's compensation is determined by law.

Contact Information

Address:
Delaware State Treasurer's Office
820 Silver Lake Boulevard, Suite 100
Dover, DE 19904

Phone: 302-672-6700
Fax: 302-739-5635

See also

• Treasurer
• Chip Flowers

External links

• Office of the Delaware State Treasurer