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Utah Treasurer

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Utah Treasurer

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General information
Office Type:  Partisan
Office website:  Official Link
Compensation:  $164,610
2025 FY Budget:  $6,148,100
Term limits:  None
Structure
Length of term:   4 years
Authority:  Utah Constitution, Article VII, Section 1
Selection Method:  Elected
Current Officeholder(s)

Utah Treasurer Marlo Oaks
Republican Party
Assumed office: July 20, 2021

Elections
Next election:  November 7, 2028
Last election:  November 5, 2024
Other Utah Executive Offices
GovernorLieutenant GovernorAttorney GeneralTreasurerAuditorSuperintendent of EducationAgriculture CommissionerInsurance CommissionerNatural Resources CommissionerLabor CommissionerPublic Service Commission

The Treasurer of Utah is an elected executive position in the Utah state government. The treasurer is the state's chief financial officer, responsible for the management of taxpayer dollars. As the custodian of public money and the central bank for state agencies, the treasurer oversees the collection, safeguarding, investment and disbursement of state funds.[1]

Current officeholder

The current Utah Treasurer is Marlo Oaks (R). Oaks assumed office in 2021.

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...[2]

Qualifications

Article VII, Section 3 of the Utah Constitution establishes the qualifications of the office:

  1. To be eligible for the office of State Auditor or State Treasurer a person shall be 25 years of age or older at the time of election.
  2. No person is eligible to any of the offices provided for in Section 1 unless at the time of election that person is a qualified voter and has been a resident citizen of the state for five years next preceding the election.[2]

Elections

Utah state government organizational chart

According to Article VII, Section 2 of the state Constitution, Utah voters elect the treasurer. Per Article VII, Section 1, the newly elected treasurer takes office beginning on the first Monday of January next after the election.

...every four years at the time and place of voting for members of the Legislature. The candidates respectively having the highest number of votes cast for the office voted for shall be elected. If two or more candidates have an equal and the highest number of votes for any one of the offices, the two houses of the Legislature at its next session shall elect by joint ballot one of those candidates for that office.[2]

2024

See also: Utah Treasurer election, 2024

General election candidates


Candidate Connection = candidate completed Ballotpedia's Candidate Connection survey
Democratic Party Democratic primary candidates

The Democratic Party primary was canceled.

    Republican Party Republican primary candidates

    The Republican Party primary was canceled.

      Minor Party primary candidates

        Utah Forward Party

        This primary was canceled and this candidate advanced:


        Candidate Connection = candidate completed Ballotpedia's Candidate Connection survey
        Democratic Party Democratic convention candidates

        Republican Party Republican convention candidates


        Candidate Connection = candidate completed Ballotpedia's Candidate Connection survey
        Minor Party convention candidates

          Utah Forward Party


          Candidate Connection = candidate completed Ballotpedia's Candidate Connection survey

          2022

          See also: Utah Treasurer election, 2022

          Special election

          General election candidates


          Candidate Connection = candidate completed Ballotpedia's Candidate Connection survey
          Democratic Party Democratic primary candidates

          The Democratic Party primary was canceled.

            Republican Party Republican primary candidates

            This primary was canceled and this candidate advanced:


            Candidate Connection = candidate completed Ballotpedia's Candidate Connection survey
            Minor Party primary candidates

              Independent American Party of Utah

              This primary was canceled and this candidate advanced:

              Libertarian Party

              This primary was canceled and this candidate advanced:

              United Utah Party

              This primary was canceled and this candidate advanced:

              Republican Party Republican convention candidates


              Candidate Connection = candidate completed Ballotpedia's Candidate Connection survey
              Minor Party convention candidates

                Independent American Party of Utah

                Libertarian Party

                United Utah Party

                2020

                See also: Utah Treasurer election, 2020

                General election candidates

                Democratic Party Democratic primary candidates

                The Democratic Party primary was canceled.

                  Republican Party Republican primary candidates

                  The Republican Party primary was canceled.

                    Republican Party Republican convention candidates


                    Past elections

                    Expand All
                    2016
                    2012
                    2008
                    2004
                    2000


                    Vacancies

                    In the event of a vacancy in the office of treasurer, Article VII, Section 10 of the state constitution allows the governor to fill the vacancy by appointment. The appointee must be from the same political party as the removed officer, and shall hold the office until a successor is elected and qualified.[2]

                    Duties

                    As of January 2021, the treasurer's website listed the following duties:[1]

                    Banking and Cash Management

                    As the state’s custodian of public funds, the Office of State Treasurer manages the state’s banking relationships, cash collection and concentration from state agencies, the funding of disbursements, and reconciliation of state bank accounts.

                    The office continuously identifies and implements improvements to business processes and related technologies, which maximize efficiency, limit costs, and control risk. A few examples of these initiatives include:

                    • Initiate a competitive procurement process for the state’s merchant services contract saving $5.7 million.
                    • Maximize interest earned on state cash by implementing processes and technology that has allowed the office to reduce idle cash balances in bank accounts by $30 million.
                    • Work strategically with state agencies to implement new banking technologies, including remote deposit capture, disbursement technologies, collection technologies, and image cash letter to name a few.

                    Investments

                    The office administers the $18 billion Public Treasurers’ Investment Fund (PTIF), which provides daily liquidity to state agencies and more than 700 local government entities throughout Utah. The PTIF consistently performs better than other state pools of similar duration.

                    The office also administers several long-horizon investment portfolios and a number of statutorily required government escrow accounts.

                    Debt Management

                    The State Bonding Commission and State Building Ownership Authority have authority to initiate the issuance of bonds from legislative debt authorizations. The Office of State Treasurer executes on these authorizations by orchestrating all debt issuance of the state, prepares and disseminates post-issuance market disclosures, and maintains investor, underwriter and rating agency relations.

                    The office maintains the accounting of all debt issued as well as a debt model to inform state officials on impact and timing of contemplated debt offerings.

                    In addition, the treasurer chairs and the office staffs the Utah Charter School Finance Authority (UCSFA), which provides municipal market access to Utah charter schools issuing debt. As part of these duties, UCSFA, with support from treasury tstaff, administers the state’s credit enhancement program to qualifying Utah charter schools providing significant savings to Utah schools.

                    Unclaimed Property

                    Millions of dollars in unclaimed property is turned over to the state every year. This money comes for sources like dormant bank accounts, uncashed checks, safe deposit box contents, and unpaid insurance benefits.

                    When a business owes money to an individual it cannot find, it remits those funds to the state’s Unclaimed Property Division after three years of non-contact with the owner.

                    In calendar year 2019, the Division received 380,221 unclaimed properties totaling $56.4 million, and it reunited a record-breaking $40.6 million in lost property with rightful owners in fiscal year 2020 (July 2019 - June 2020).

                    Ex Officio Board Responsibilities
                    The Office of State Treasurer also provides essential support to a diverse range of public bodies and programs, including the:

                    • School and Institutional Trust Fund
                    • State Bonding Commission
                    • State Building Ownership Authority
                    • Utah Charter School Finance Authority
                    • Utah Money Management Council
                    • Utah Retirement Systems
                    • Utah Housing Corporation
                    • Utah Navajo Trust Fund
                    • Permanent Community Impact Board (CIB)
                    • State Post-Retirement Benefit Trust Fund
                    • Elected Official Post-Retirement Benefit Trust Fund
                    • Utah Capital Investment Board
                    • Private Activity Bond Authority
                    • Board of Canvassers
                    • Water Development Coordinating Council
                    • Capitol Preservation Board
                    • Utah Council on Financial and Economic Education
                    • Martha Hughes Cannon Statue Oversight Committee
                    • Executive Water Finance Board[3]

                    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 Utah 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

                    See also: Utah state budget and finances

                    The budget for the State Treasurer's office in Fiscal Year 2025 was $6,148,100.[4]

                    Compensation

                    See also: Compensation of state executive officers

                    DocumentIcon.jpg See statutes: UT Code § 67-22-1 (2014)

                    The treasurer, along with Utah's other elected executives, is entitled to a fixed salary, pursuant to Article VII, Section 18 of the Utah Constitution.

                    The Governor, Lieutenant Governor, State Auditor, State Treasurer, Attorney General, and any other state officer as the Legislature may provide, shall receive for their services a fixed and definite compensation as provided by law.

                    The amount of compensation the treasurer receives annually is set by Title 67, Chapter 22, Section 1 of the Utah Code.[5]

                    2023

                    In 2023, the officer's salary was $164,610, according to the Council of State Governments.[6]

                    2022

                    In 2022, the officer's salary was $149,040, according to the Council of State Governments.[7]

                    2021

                    In 2021, the treasurer received a salary of $149,040, according to the Council of State Governments.[8]

                    2020

                    In 2020, the treasurer received a salary of $144,671 according to the Council of State Governments.[9]

                    2019

                    In 2019, the treasurer received a salary of $104,405 according to the Council of State Governments.[10]

                    2018

                    In 2018, the treasurer received a salary of $104,405 according to the Council of State Governments.[11]

                    2017

                    In 2017, the treasurer received a salary of $104,405 according to the Council of State Governments.[12]

                    2016

                    In 2016, the treasurer received a salary of $104,405 according to the Council of State Governments.[13]

                    2015

                    In 2015, the treasurer received a salary of $104,400 according to the Council of State Governments.[14]

                    2014

                    In 2014, the treasurer was paid an estimated $104,000 according to the Council of State Governments.[15]

                    2013

                    In 2013, the treasurer was paid an estimated $104,000 according to the Council of State Governments.[16]

                    Historical officeholders

                    Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders; information for the Utah 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

                    The link below is to the most recent stories in a Google news search for the terms Utah State Treasurer. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.

                    Contact information

                    Utah State Treasurer's Office
                    350 N. State Street, Suite 180
                    P.O. Box 142315
                    Salt Lake City, UT 84114-2315

                    Phone: (801) 538-1042
                    Email: sto@utah.gov

                    See also

                    Utah State Executive Elections News and Analysis
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                    Utah State Executive Offices
                    Utah State Legislature
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                    Utah elections: 2025202420232022202120202019201820172016
                    Party control of state government
                    State government trifectas
                    State of the state addresses
                    Partisan composition of governors

                    External links

                    Footnotes

                    1. 1.0 1.1 Utah State Treasurer, "About," accessed January 27, 2021
                    2. 2.0 2.1 2.2 2.3 Utah State Legislature, "Constitution," accessed January 27, 2021
                    3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
                    4. Utah Office of the Legislative Fiscal Analyst, "Budget of the State of Utah and related Appropriations - Fiscal years 2024 and 2025," accessed January 23, 2025
                    5. Utah State Legislature, "UT Code § 67-22-1 (2014)," accessed January 27, 2021
                    6. Council of State Governments, "Book of the States 2023 Table 4.11: Selected State Administrative Officials: Annual Salaries," accessed January 21, 2025
                    7. Council of State Governments, "Book of the States 2022 Table 4.11: Selected State Administrative Officials: Annual Salaries," provided to Ballotpedia by CSG personnel
                    8. Issuu, "The Book of the States 2021," accessed September 28, 2022
                    9. Council of State Governments, "The Book of the States 2020," accessed January 27, 2021
                    10. Council of State Governments, "The Book of the States 2019," accessed January 27, 2021
                    11. Council of State Governments, "The Book of the States 2018," accessed January 27, 2021
                    12. Council of State Governments, "The Book of the States 2017," accessed January 27, 2021
                    13. Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed August 27, 2016
                    14. Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2015," accessed August 27, 2016
                    15. Council of State Governments, "Selected State Administrative Officials: Annual Salaries," accessed December 8, 2014
                    16. Council of State Governments, "Selected State Administrative Officials: Annual Salaries," January 29, 2014