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Indiana State Treasurer

From Wikipedia, the free encyclopedia
(Redirected fromIndiana Treasurer of State)
American political office
Treasurer of Indiana
Incumbent
Dan Elliott
since January 9, 2023
Term length4 years
Inaugural holderDaniel Crosby Lane
November 7, 1816
FormationIndiana Constitution
1816
SuccessionFourth
Salary$145,876[1]
Websitehttp://www.in.gov/tos/

TheIndiana Treasurer of State is a constitutional and elected office in the executive branch of thegovernment of Indiana. The treasurer is responsible for managing the finances of theU.S. state ofIndiana. The position was filled by appointment from 1816 until the adoption of the newConstitution of Indiana in 1851, which made the position filled by election. As of 2023, there have been fifty-five treasurers. The incumbent isRepublicanDan Elliott who has served in the position since January 9, 2023.

Term limits and qualification

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The Indiana State Treasurer is a constitutional office first established in the 1816Constitution of Indiana, and was made largely to mirror the position of the treasurer duringIndiana's territorial period. Between 1816 and until 1851, the treasurer was nominated by the governor and confirmed by the state senate. With adoption of the current constitution in 1851 the treasurer's office was filled by a public statewide election every four years.[2]

Treasurers take office on February 10 following their election and hold office for four years. Should they resign, be impeached, or die in office the governor has the power to appoint a temporary treasurer to serve until the next general election. The new treasurer, either appointed to elected may only complete the term of the previous treasurer, not serve a new four-year term. A treasurer may be elected to consecutive terms, but may serve no more than eight years in any twelve-year period.[2]

Powers

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The treasurer's powers are both constitutional and statutory. The treasurer's constitutional powers make him the chief financial officer of the state government and give him control over all of the state's financial assets. Because the state operates with a largereserve fund, this gives the treasurer control over a large amount of money. In 2007, the total state portfolio was valued at over $5 billion.[2] The treasurer is permitted to invest the funds several different ways, including investments inUnited States Treasury securities,certificates of deposit, repurchase agreements, and money market mutual funds.[2]

TheIndiana General Assembly has assigned the treasurer additional statutory power and made him a member of the state Board of Finance, Indiana Finance Authority, Indiana Transportation Finance Authority, State Office Building Commission, Recreational Development Commission, Indiana Grain Indemnity Fund Board, Indiana Underground Storage Tank Financial Assurance Board, and the Indiana Heritage Trust Committee. Additionally, the treasurer is the vice-chairman of the Indiana Housing Finance Authority and the Indiana State Police Pension Fund. As a member of these boards, the treasurer has a wide range of influence on the state's financial management.[2]

The treasurer is also the head of several of the most important state financial organizations. The treasurer is chairman of the Indiana Bond Bank, a state controlled bank that provides financing to municipal government to allow for large infrastructure investments. The bank then sells the debts as secured bonds on the national market. This allows local governments to secure credit a low rate of interest. The treasurer is also the chairman of the Indiana Education Savings Authority which manages savings accounts for college educations. The treasurer chairs the Public Deposit Insurance Fund and the Board for Depositories that insures the deposits of municipal governments in the state, much as theFederal Deposit Insurance Corporation insures private accounts, except without limiting the amount of the insurance.[3] The Indiana Institute for Public Funds Management is private organization that was developed to provide financial education for municipal government leaders. The treasurer is designated by the organization its chairman.[4]

List of treasurers

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  Democratic-Republican  Democratic  Whig  Republican

Territorial treasurers

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#NameTook officeLeft officePartyHometownNotes
1Davis Floyd18141816Democratic-RepublicanCorydon, Indiana

State treasurers

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#ImageNameTook officeLeft officePartyHometownNotes
1Daniel Crosby LaneNovember 16, 1816December 28, 1822Democratic-RepublicanHarrison County, Indiana
2Samuel MerrillDecember 28, 1822February 13, 1834WhigCorydon &Indianapolis, Indiana
3Nathan B. PalmerFebruary 13, 1834February 9, 1841DemocraticJefferson County, Indiana
4George H. DunnFebruary 9, 1841February 9, 1844WhigJefferson County, Indiana
5Royal MayhewFebruary 9, 1844February 9, 1847DemocraticLawrenceburg, Indiana
6Samuel HannahFebruary 9, 1847February 9, 1850WhigShelby County, Indiana
7James P. DrakeFebruary 9, 1850February 9, 1853DemocraticIndianapolis, Indiana
8Elijah NewlandFebruary 9, 1853February 9, 1855DemocraticWashington County, Indiana
9William R. NofsingerFebruary 9, 1855February 9, 1857RepublicanParke County, Indiana
10Aquilla JonesFebruary 9, 1857February 9, 1859DemocraticColumbus, Indiana
11Nathaniel G. CunninghamFebruary 9, 1859February 9, 1861DemocraticVigo County, Indiana
12Jonathan S. HarveyFebruary 9, 1861February 9, 1863RepublicanJeffersonville, Indiana
13Matthew L. BrettFebruary 9, 1863February 9, 1865DemocraticDaviess County, Indiana
14John I. MorrisFebruary 9, 1865February 9, 1867RepublicanSalem, Indiana
15Nathan KimballFebruary 9, 1867February 9, 1871RepublicanLoogootee, Indiana
16James B. RyanFebruary 9, 1871February 9, 1873DemocraticIndianapolis, Indiana
17John B. GloverFebruary 9, 1873February 9, 1875RepublicanBedford, Indiana
18Benjamin C. ShawFebruary 9, 1875February 9, 1879DemocraticIndianapolis, Indiana
19William FlemingFebruary 9, 1879February 5, 1881DemocraticFort Wayne, Indiana
20Roswell S. HillFebruary 5, 1881February 9, 1883RepublicanBrazil, Indiana
21John J. CooperFebruary 9, 1883February 9, 1887DemocraticIndianapolis, Indiana
22Julius A. LemckeFebruary 9, 1887February 9, 1891RepublicanEvansville, Indiana
23Albert GallFebruary 9, 1891February 9, 1895DemocraticIndianapolis, Indiana
24Frederick J. ScholzFebruary 9, 1895February 10, 1899RepublicanEvansville, Indiana
25Leopold LevyFebruary 10, 1899February 9, 1903RepublicanIndianapolis, Indiana
26Nathaniel U. HillFebruary 9, 1903February 10, 1907RepublicanBloomington, Indiana
27Oscar C. HadleyFebruary 10, 1907February 9, 1911RepublicanPlainfield, Indiana
28William H. VollmerFebruary 10, 1911February 10, 1915DemocraticVincennes, Indiana
29George A. BittlerFebruary 10, 1915February 10, 1917DemocraticFort Wayne, Indiana
30Uz McMurtieFebruary 10, 1917February 10, 1921RepublicanMarion, Indiana
31Ora J. DaviesFebruary 10, 1921February 10, 1925RepublicanKokomo, Indiana
32Bernhardt H. UrbahnsFebruary 10, 1925January 22, 1926RepublicanIndianapolis, Indiana[5]
33Grace UrbahnsJanuary 22, 1926February 10, 1931RepublicanIndianapolis, Indiana[6]
34William StorenFebruary 10, 1931February 10, 1935DemocraticScottsburg, Indiana
35Peter HeinFebruary 10, 1935February 10, 1939DemocraticCrown Point, Indiana
36Joseph M. RobertsonFebruary 10, 1939February 10, 1941DemocraticBrownstown, Indiana
37James M. GivensFebruary 10, 1941February 10, 1945RepublicanPorter, Indiana
38Frank T. MillisFebruary 10, 1945February 10, 1949RepublicanCampbellsburg, Indiana
39F. Shirley WilcoxFebruary 10, 1949February 10, 1951DemocraticNew Albany, Indiana
40William L. FortuneFebruary 10, 1951February 10, 1953RepublicanCarmel, Indiana
42John PetersFebruary 10, 1953February 10, 1957RepublicanNew Albany, Indiana
43Adolph L. FosslerFebruary 10, 1957February 10, 1959RepublicanIndianapolis, Indiana
44Jack A. HaymakerFebruary 10, 1959February 10, 1961DemocraticLogansport, Indiana
45Robert E. HughesFebruary 10, 1961February 10, 1963RepublicanGreenwood, Indiana
46Jack L. NewFebruary 10, 1965February 10, 1967DemocraticGreenwood, Indiana
47John SnyderFebruary 10, 1967February 10, 1971RepublicanWashington, Indiana
48Jack L. NewFebruary 10, 1971February 10, 1979DemocraticGreenfield, Indiana
49Julian RidlenFebruary 10, 1979February 10, 1987RepublicanLogansport, Indiana
50Marjorie H. O’LaughlinFebruary 10, 1987February 10, 1995RepublicanIndianapolis, Indiana
51Joyce BrinkmanFebruary 10, 1995February 10, 1999RepublicanIndianapolis, Indiana
52Tim BerryFebruary 10, 1999February 10, 2007RepublicanFort Wayne, Indiana
53Richard MourdockFebruary 10, 2007August 29, 2014RepublicanEvansville, Indiana
54Kelly MitchellNovember 18, 2014January 9, 2023RepublicanLogansport, Indiana
55Dan ElliottJanuary 9, 2023presentRepublicanGreen Township, Indiana

Notes

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  1. ^"Pay raises incoming for Indiana's highest elected officials".Indiana Capital Chronicle. RetrievedJanuary 13, 2025.
  2. ^abcdeIndiana Chamber, p. 16
  3. ^Indiana Chamber, p. 17
  4. ^Indiana Chamber, p. 18
  5. ^Bernhardt H. Urbahms died in office and his wife Grace was appointed in his place. (Funk, p. 211)
  6. ^Grace Urbahns was married during her second term and became Mrs. Grace Banta Reynolds. (Funk, p. 211)

See also

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Sources

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External links

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State treasurers of the United States
Fiona Ma (D)
Susan Miller (R) –acting
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Political party affiliations:italics indicate closest equivalent to treasurer in this state
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