Washington State Treasurer

State Treasurer of Washington

Seal of the Washington State Treasurer
Incumbent
Duane Davidson
since January 10, 2017
Style The Honorable
Term length four years, no limit
Formation Constitution of Washington
Website State Treasurer's Office

The Washington State Treasurer is an elected official in the US state of Washington whose office is established by the Washington State Constitution. Duane Davidson is the current Washington State Treasurer, a Republican who began his term in January 2017.[1] He is charged with a variety of responsibilities related to the fiscal management of state government.[2]

Duties and compensation

The Washington State Treasurer is responsible for managing the state's cash assets and local government investments which, as of 2008, totaled $11 billion. He is also responsible for servicing the state's $13 billion debt, through the issuance of state bonds. As one of 15 members of the Washington State Investment Board, the Treasurer helps oversee the investment of state pension and retirement funds.[3] He is also in the line of succession to the office of Governor of Washington, following the Lieutenant-Governor and Secretary of State.[4]

The Washington State Treasurer's office is located in the Washington State Capitol.

Most of the Treasurer's specific responsibilities are set-forth in the Revised Code of Washington. Though the office was established by the Washington constitution, that document only provides that "the treasurer shall perform such duties as shall be prescribed by law," a provision similar to the earlier enacted constitution of the neighboring state of Oregon. The constitution originally directed that the Treasurer would be paid a salary of $2,000, though constitutional limits on officeholder salaries have since been repealed by amendment and are now set by statute. [5] The Treasurer currently receives an annual salary of $125,000.[6]

Election and office

The Treasurer is elected every four years on a partisan ballot; any registered voter in the state of Washington is eligible to stand for election. The Washington State Constitution requires that, upon assuming office, the Treasurer establish residence in the state's capital city of Olympia. State law further requires he post a surety bond of $500,000, approved by both the Washington Secretary of State and the Chief Justice of the Washington Supreme Court.[7]

The Treasurer's office is located in the Washington State Capitol. [4]

See also

References

  1. ↑ "Subscribe | The Seattle Times". www.seattletimes.com. Retrieved 2017-08-09.
  2. ↑ "What We Do". tre.wa.gov. Office of the Washington State Treasurer. Retrieved 13 September 2014.
  3. ↑ Gilmore, Susan (6 August 2008). "3 running to fill state treasurer's job". Seattle Times. Seattle. Retrieved 13 September 2014.
  4. 1 2 Ferguson, Margaret (2006). The Executive Branch of State Government: People, Process, and Politics. ABC-CLIO. p. 99. ISBN 1851097716.
  5. ↑ Utter, Robert (2011). The Washington State Constitution (Oxford Commentaries on the State Constitutions of the United States). Oxford University Press. p. 99. ISBN 0199779279.
  6. ↑ "Ballot access requirements for political candidates in Washington". ballotpedia.org. Ballotpedia. Retrieved 13 September 2014.
  7. ↑ "RCW 43.08.020 ... Residence — Bond — Oath". app.leg.wa.gov. Washington State Legislature. Retrieved 13 September 2014.
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