Oklahoma Treasurer

From Ballotpedia
Revision as of 15:31, 27 September 2011 by Ltrodgers (Talk | contribs)

Jump to: navigation, search
Oklahoma

Oklahoma State Executives
GovernorLieutenant Governor
Secretary of StateAttorney General
TreasurerAuditor
Superintendent of Education

Agriculture Commissioner
Insurance Commissioner
Natural Resources Commissioner
Labor Commissioner
Public Service Commission
The Oklahoma Treasurer is an elected position in the Oklahoma state government. The treasurer is the chief financial officer of the state and acts as the state banker. The treasurer's office is responsible for managing the state's money, investments, pay offs of bond interest and loans, and the state's unclaimed property program.

Current officeholder

The current treasurer of Oklahoma is Ken Miller. He was first elected to the position in November, 2010 and assumed office on January 10, 2011.

Authority

The office of the Oklahoma Treasurer is established in Section 1, Article 6 of the Oklahoma Constitution.

Article VI, Section 1:

A. The Executive authority of the state shall be vested in a Governor, Lieutenant Governor, Secretary of State, State Auditor and Inspector, Attorney General, State Treasurer, Superintendent of Public Instruction, Commissioner of Labor, Commissioner of Insurance and other officers provided by law and this Constitution, each of whom shall keep his office and public records, books and papers at the seat of government, and shall perform such duties as may be designated in this Constitution or prescribed by law.

B. The Secretary of State shall be appointed by the Governor by and with the consent of the Senate for a term of four (4) years to run concurrently with the term of the Governor.

Qualifications

Article VI, Section 3 of the Oklahoma Constitution establishes the qualifications of the office:

No person shall be eligible to the office of Governor, Lieutenant Governor, Secretary of State, State Auditor and Inspector, Attorney General, State Treasurer or Superintendent of Public Instruction except a citizen of the United States of the age of not less than thirty-one (31) years and who shall have been ten (10) years next preceding his or her election, or appointment, a qualified elector of this state..
  • a citizen of the United States.
  • at least 31 years old.
  • a qualified elector of Oklahoma for the 10 preceding years.

Elections

The Oklahoma Treasurer is elected every years, in mid-term elections. The position is elected in 2006, 2010, 2014, and 2018.

On March 14, 2011, the Oklahoma State Senate approved a bill that would give the governor the power to appoint 7 of the 11 statewide elected officials, including the treasurer. The Senate would have to confirm all appointments. Voters will decide whether to approve the measure.[1]

Term limits

No person may serve as the Oklahoma Treasurer for more than 8 years, excluding years served for less than a full term to fill a vacancy in the office.[2]

Vacancies

Under Article 6, Section 13 of the state constitution, in the event of a vacancy in the office the governor appoints a person to serve until a successor is either elected or appointed and qualified by law.

Duties

The Oklahoma Treasurer has a number of constitutional and statutory duties:[3]

  • receive, deposit, and disburse all state funds
  • invest temporary surplus funds
  • invest specific funds for other state agencies where authorized
  • require banks to furnish collateral sufficient to secure deposits of state and other public funds
  • paying of interest on the state's bonded debt and the redeeming of the debt at maturity
  • maintain a safekeeping operation for securities owned by various state agencies, and those securities pledged as collateral to other state agencies;
  • process and distribute all State checks (known as warrants);
  • administer the Business Link and Agricultural Link Programs; and
  • administer the Unclaimed Property Program.

Divisions

Compensation

In 2010, the Oklahoma Treasurer was paid an estimated $114,713 according to the Council of State Governments.[4]

Contact Information

Oklahoma State Treasurer's Office
2300 N. Lincoln Blvd., Room 217
Oklahoma City, OK 73105

Phone: (405) 521-3191

See also

External links

BP-Initials-UPDATED.png
Suggest a link

References