Utah Treasurer
| Utah Treasurer | |
 | |
| 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 | |
| Elections | |
| Next election: | November 7, 2028 |
| Last election: | November 5, 2024 |
| Other Utah Executive Offices | |
| Governor • Lieutenant Governor • Attorney General •Treasurer • Auditor • Superintendent of Education • Agriculture Commissioner • Insurance Commissioner • Natural Resources Commissioner • Labor Commissioner • Public 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:
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Elections
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.
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...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
- Marlo Oaks (Incumbent) (Republican Party) ✔
- Neil Hansen (Democratic Party)
- Miles Pomeroy (Utah Forward Party)
= candidate completed Ballotpedia's Candidate Connection survey
Democratic primary candidates
The Democratic Party primary was canceled.
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 completed Ballotpedia's Candidate Connection survey Democratic convention candidates
Republican convention candidates
- Marlo Oaks (Incumbent) ✔
= candidate completed Ballotpedia's Candidate Connection survey
Minor Party convention candidates
Utah Forward Party
= candidate completed Ballotpedia's Candidate Connection survey
2022
- See also: Utah Treasurer election, 2022
Special election
General election candidates
- Marlo Oaks (Incumbent) (Republican Party) ✔
- Warren Rogers (Independent American Party of Utah)
- Joseph Geddes Buchman (Libertarian Party)
- Thomas Horne (United Utah Party)
= candidate completed Ballotpedia's Candidate Connection survey Democratic primary candidates
The Democratic Party primary was canceled.
Republican primary candidates
This primary was canceled and this candidate advanced:
- Marlo Oaks (Incumbent) ✔
= 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 convention candidates
- Marlo Oaks (Incumbent) ✔
= 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
- David Damschen (Incumbent) (Republican Party) ✔
- Richard Proctor (Constitution Party)
- Joseph Speciale (Libertarian Party)
Democratic primary candidates
The Democratic Party primary was canceled.
Republican primary candidates
The Republican Party primary was canceled.
Republican convention candidates
- David Damschen (Incumbent) ✔
Past elections
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:
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
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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
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
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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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External links
Footnotes
- ↑ 1.0 1.1 Utah State Treasurer, "About," accessed January 27, 2021
- ↑ 2.0 2.1 2.2 2.3 Utah State Legislature, "Constitution," accessed January 27, 2021
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ 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
- ↑ Utah State Legislature, "UT Code § 67-22-1 (2014)," accessed January 27, 2021
- ↑ Council of State Governments, "Book of the States 2023 Table 4.11: Selected State Administrative Officials: Annual Salaries," accessed January 21, 2025
- ↑ Council of State Governments, "Book of the States 2022 Table 4.11: Selected State Administrative Officials: Annual Salaries," provided to Ballotpedia by CSG personnel
- ↑ Issuu, "The Book of the States 2021," accessed September 28, 2022
- ↑ Council of State Governments, "The Book of the States 2020," accessed January 27, 2021
- ↑ Council of State Governments, "The Book of the States 2019," accessed January 27, 2021
- ↑ Council of State Governments, "The Book of the States 2018," accessed January 27, 2021
- ↑ Council of State Governments, "The Book of the States 2017," accessed January 27, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2015," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries," accessed December 8, 2014
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries," January 29, 2014
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