Difference between revisions of "Pennsylvania Treasurer"

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==See also==
 
==See also==
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{{Pennsylvania elected executives}}
*[[Treasurer]]
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*[[Rob McCord]]
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*[[Ed Rendell|Pennsylvania Governor Ed Rendell]]
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*[[Lieutenant Governor of Pennsylvania]]
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*[[Pennsylvania Attorney General]]
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*[[Pennsylvania Secretary of State]]
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==External links==
 
==External links==

Revision as of 11:59, 24 December 2013

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

Rob McCord.jpg
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
GovernorLieutenant GovernorSecretary of StateAttorney GeneralTreasurerAuditorSuperintendent of EducationAgriculture CommissionerInsurance CommissionerNatural Resources CommissionerLabor CommissionerPublic Service Commission
The Treasurer of the State of Pennsylvania is an elected, executive level position within the Pennsylvania state government. The treasurer is the chief financial officer of the government, responsible for managing the commonwealth's money and serving as Pennsylvania's banker.

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.[1]

Authority

The state Constitution establishes the office of treasurer in Article IV, Section 1:

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.

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]

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.

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.

Full History


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.[6]

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[7]

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Pennsylvania Treasurer has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Recent news

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

Pennsylvania Treasurer News Feed

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Contact Information

Pennsylvania State Treasurer's Office
129 Finance Building
Harrisburg, PA 17120

Phone: (717) 787-2465

See also

External links

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References