Difference between revisions of "Mississippi Treasurer"

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==Duties==
 
==Duties==
The duties of the treasurer are detailed in the Mississippi Code and listed on the treasurer's website and are as follows:<ref>[http://www.treasury.state.ms.us/Office/ ''Office of the Mississippi State Treasurer,'' "Office of the State Treasurer," retrieved May 6, 2011]</ref>
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The duties of the treasurer are detailed in the Mississippi Code and listed on the treasurer's website and are as follows:<ref>[http://www.treasury.state.ms.us/Office/ ''Office of the Mississippi State Treasurer,'' "Office of the State Treasurer," accessed May 6, 2011]</ref>
 
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*To invest and account for general, special, clearing and special purpose investment funds, as well as bond proceeds, according to specific legislated authorization and direction;
 
*To invest and account for general, special, clearing and special purpose investment funds, as well as bond proceeds, according to specific legislated authorization and direction;

Revision as of 07:14, 17 April 2014

Mississippi Treasurer
General information
Office Type:  Partisan
Office website:  Official Link
2013-2014 FY Budget:  $3,233,551
Term limits:  None
Structure
Length of term:   4 years
Authority:  Mississippi Constitution, Article V, Section 134
Selection Method:  Elected
Current Officeholder

Lynn Fitch.jpg
Name:  Lynn Fitch
Officeholder Party:  Republican
Assumed office:  January 5, 2012
Compensation:  $85,500
Elections
Next election:  November 2015
Last election:  November 8, 2011
Other Mississippi Executive Offices
GovernorLieutenant GovernorSecretary of StateAttorney GeneralTreasurerAuditorSuperintendent of EducationAgriculture CommissionerInsurance CommissionerExecutive Director of Environmental Quality Executive Director of Employment SecurityPublic Service Commission
The Treasurer of the State of Mississippi is the chief financial officer of the government of Mississippi.

The treasurer is responsible for maintaining the state funds by investing and maintaining the state budget. The department's main purpose is to invest state funds, to disburse funds for local bonds and taxes as needed, to ensure records are kept of all money transactions, to distribute unclaimed property as needed and make payments for the state as needed.

The treasurer is elected every four years.

Current officeholder

The current treasurer of Mississippi is Republican Lynn Fitch. She has served since 2012.[1]

Authority

The Treasurer's powers and duties are established by Article V, Section 134 of the Mississippi Constitution.

Article V, Section 134:

A State Treasurer and an Auditor of Public Accounts shall be elected as herein provided, who shall hold their office for the term of four (4) years, and shall possess the same qualifications as required for the Secretary of State. They shall receive such compensation as may be provided by law.

Qualifications

Article 5, Section 133 of the Mississippi Constitution outline the qualifications for Secretary of State, which also apply for Treasurer:

... He shall be at least twenty-five years of age, a citizen of the state five years next preceding the day of his election, and he shall continue in office during the term of four years...
  • at least 25 years old
  • a resident of Mississippi for at least the 5 years before the day of their election[2]

Elections

Mississippi state government organizational chart

Mississippi elects treasurers to four-year terms during gubernatorial election years. For Mississippi, 2003, 2007, 2011, and 2015 are all treasurer election years.

Vacancies

Note: Ballotpedia's state executive officials project researches the constitutional or statutory text that details the process of filling vacancies for a state executive office. That information for the Mississippi Treasurer has not yet been added. After extensive research we were unable to identify any relevant information on state official websites. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Duties

The duties of the treasurer are detailed in the Mississippi Code and listed on the treasurer's website and are as follows:[3]

  • To invest and account for general, special, clearing and special purpose investment funds, as well as bond proceeds, according to specific legislated authorization and direction;
  • To account for and invest trust funds in the custody of the Treasurer;
  • To account for and disburse funds for scheduled payments on bonded indebtedness;
  • To prepare all reports and maintain all records required by the Federal Tax Reform Act for calculating any required arbitrage rebate;
  • To distribute proportionate tax revenues to counties, cities, and other taxing districts of the State;
  • To monitor the cash position of all Treasury funds to insure that cash balances are invested immediately and sufficient cash balances are on hand to pay obligations as they become due;
  • To provide a cash flow projection for the timing of receipts and disbursements;
  • To identify and recommend to other state agencies the use of cash management techniques which speed collection and increase earnings on investment balances;
  • To publish semi-annual GAAP report packages on all funds managed by the Treasurer for inclusion in the Comprehensive Annual Financial Report prepared by the Department of Finance and Administration;
  • To act as custodian of unclaimed property reported to the Treasurer and attempt to locate the rightful owners so that they may claim their property;
  • To serve as Treasurer to the Mississippi Employment Security Commission;
  • To insure that all State deposits in approved depository institutions are collateralized at 105% of the deposit balance according to statute;
  • To serve as custodian for securities pledged to the State and its agencies;
  • To annually approve and issue a commission to all financial institutions serving as depositories for State funds; and
  • To process and pay all warrants issued by the State in payment of its obligations;
  • The State Treasurer also represents the Executive Branch on various boards and commissions.

Divisions

Note: Ballotpedia's state executive officials project researches state official websites for information that describes the divisions (if any exist) of a state executive office. That information for the Mississippi Treasurer has not yet been added. After extensive research we were unable to identify any relevant information on state official websites. If you have any additional information about this office for inclusion on this section and/or page, please email us.

State budget

The Office of State Treasurer's budget for fiscal year 2013 is $3,233,551.[4]

Compensation

See also: Compensation of state executive officers

2013

In 2013, the treasurer's salary was estimated at $90,000.[5]

2012

In 2012, the Mississippi Treasurer was paid an estimated $85,500. This figure comes from the Council of State Governments.

Historical officeholders

Since 1817 Mississippi has had 49 state treasurers.

Click "show" for former officeholders.

Recent news

This section displays the most recent stories in a Google news search for the term Mississippi + State + Treasurer

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

Mississippi State Treasurer News Feed

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Contact Information

Mississippi State Treasurer's Office
PO Box 138
Jackson, MS 39205

Phone: 601-359-3600
Fax: 601-359-2001

See also

External links

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References