Does your state lean blue or lean red? Check out our new report, highlighting partisan control of state government from 1992-2013.
Utah Treasurer
Contents |
Current officeholder
The current officeholder is Richard Ellis.
Authority
The office of treasurer is established in Article VII, Section 1 of the state constitution.
Article VII, Section 1:
| The elective constitutional officers of the Executive Department shall consist of Governor, Lieutenant Governor, State Auditor, State Treasurer, and Attorney General... |
Qualifications
Article VII, Section 3 of the Utah Constitution establishes the qualifications of the office:
|
- a qualified elector
- a resident of Utah for five years next preceding election
- at least 25 years old
Elections
Utah voters elect the governor, lieutenant governor, attorney general, treasurer, and auditor every four years, in presidential election years. According to Article VII, Section 1 of the state constitution, the new officeholders assume office on the first Monday of January next after their election.
Vacancies
In the event of a vacancy in the office of attorney general, treasurer, auditor, or superintendent of public instruction, Article VII, Section 10 of the state constitution allows the governor to fill the vacancy by appointment. The appointee shall hold the office until a successor is elected and qualified.
Duties
The treasurer is responsible for the state's collection, concentration, disbursement and investment processes. The office administers the Public Treasurers’ Investment Fund, which provides daily liquidity to state agencies and over 700 local government entities throughout Utah, and several long-term investment funds and a portfolio of statutorily required government escrow accounts and letters of credit.[2]
The specific duties of the treasurer are outlined in Title 67, Chapter 4, Section 1 of the Utah code:[3]
- receive and maintain custody of all state funds;
- unless otherwise provided by law, invest all funds delivered into the state treasurer's custody according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act;
- pay warrants drawn by the Division of Finance as they are presented;
- return each redeemed warrant to the Division of Finance for purposes of reconciliation, post-audit, and verification;
- ensure that state warrants not presented to the state treasurer for payment within one year from the date of issue, or a shorter period if required by federal regulation or contract, are canceled and credited to the proper fund;
- account for all moneys received and disbursed;
- keep separate account of the different funds;
- keep safe all bonds, warrants, and securities delivered into his custody;
- at the request of either house of the Legislature, or of any legislative committee, give information in writing as to the condition of the treasury, or upon any subject relating to the duties of his office;
- keep the books open at all times for the inspection by the governor, the state auditor, or any member of the Legislature, or any committee appointed to examine them by either house of the Legislature;
- authenticate and validate documents when necessary;
- adopt a seal and file a description and an impression of it with the Division of Archives; and
- discharge the duties of a member of all official boards of which he is or may be made a member by the Constitution or laws of Utah.
Compensation
In 2010, the Utah Treasurer was paid an estimated $104,405 according to the Council of State Governments.[4]
Contact information
Utah State Treasurer's Office
350 N. State Street, Suite 180
P.O. Box 142315
Salt Lake City, UT 84112-2315
Phone: (801) 538-1042
Fax: (801) 538-1465
E-mail: sto@utah.gov
See also
External links
References
| |||||||||||||||||
| ||||||||||||||||
