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State Treasurer of Arizona

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State Treasurer of Arizona
Incumbent
Kimberly Yee
since January 7, 2019
StyleThe Honorable
ResidencePhoenix, Arizona
Term lengthFour years, can succeed self once; eligible again after a 4-year respite
Formation1912
DeputyMark Swenson
Salary$70,000
Websiteaztreasury.gov

The state treasurer of Arizona is a constitutional officer in the executive branch of government of the U.S. state of Arizona. Forty-five individuals have occupied the office of state treasurer since statehood. The incumbent is Kimberly Yee, a Republican.

Election and term of office

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The state treasurer is one of six statewide elected officials and serves a term of four years. A person may only serve as state treasurer for two consecutive terms.

Powers and duties

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The state treasurer is the chief banker and investment officer for the state of Arizona. In this capacity, the state treasurer receives payments made to the state, accounts for and manages the state's cash flows, provides banking services to state agencies, directs and administers the investment of the state's approximately $95.9 billion portfolio, and disburses public monies in payment of warrants drawn by the General Accounting Office, Arizona's comptroller.[1][2][3][a]

Functional responsibilities aside, the state treasurer is ex officio chairperson of the Board of Investment and a member of both the State Selection Board and the Board of Loan Commissioners.[7][8][9] These bodies prescribe investment policies for the state investment portfolio, select or cause for the withdrawal and survey of trust lands granted to Arizona by Congress, and manage state indebtedness, respectively. The state treasurer is also third (after the secretary of state and attorney general) in the line of succession to the office of governor of Arizona.[10]

List of State Treasurers of Arizona

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# Image Name Political Party Term of Office
1 David F. Johnson Democratic 1912–1915
2 Mit Simms Democratic 1915–1917
3 David F. Johnson Democratic 1917–1919
4 Harry S. Ross Democratic 1919–1921
5 Raymond R. Earhart Democratic 1921–1923
6 Wayne Hubbs Democratic 1923–1925
7 Vernon S. Wright Democratic 1925–1927
8 J. C. Callaghan Democratic 1927–1929
10 Charles R. Price Democratic 1929–1931
11 Mit Simms Democratic 1931–1933
12 W. M. Cox Democratic 1933–1935
13 Mit Simms Democratic 1935–1937
14 Harry M. Moore Democratic 1937–1939
15 William G. Petersen Democratic 1939–1941
16 Joe Hunt Democratic 1941–1943
17 James D. Brush Democratic 1943–1944
18 Alva E. Weaver Democratic 1944–1945
19 William T. Brooks Democratic 1945–1947
20 Mit Simms Democratic 1947–1949
21 J. W. Kelly Democratic 1949–1951
22 E. T. Williams, Jr. Democratic 1951–1953
23 J. W. Kelly Democratic 1953–1955
24 E. T. Williams, Jr. Democratic 1955–1957
25 J. W. Kelly Democratic 1957–1959
26 H. Y. Sprague Democratic 1959–1960
27 John Quebedeaux Republican 1960–1961
28 J. W. Kelly Democratic 1961–1963
29 Milton J. Husky Democratic 1963–1965
30 Bob Kennedy Democratic 1965–1967
31 Charles H. Garland Republican 1967–1969
32 Morris A. Herring Republican 1969–1971
33 Ernest Garfield Republican 1971–1973
34 Bart Fleming Republican 1973–1979
35 Clark Dierks Republican 1979–1983
36 Ray Rottas Republican 1983–1991
37 Tony West Republican 1991–1999
38 Carol Springer Republican 1999–2003
39 David Petersen Republican 2003–2006
40 Elliott Hibbs Republican 2006–2007
41 Dean Martin Republican 2007–2011
42 Doug Ducey Republican 2011–2015
43 Jeff DeWit Republican 2015–2018
44 Eileen Klein Republican 2018–2019
45 Kimberly Yee Republican 2019–present

Notes

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  1. ^ Assets under management include the working capital of the state of Arizona’s governmental and proprietary funds along with agency-specific trust funds, the permanent land endowment fund, Arizona’s tax-advantaged college savings plan, and the local government investment pool.[4][5] However, the state treasurer does not invest state pensions; fiduciary responsibility for that fund instead rests with the Arizona State Retirement System, an independent state agency which administers pensions for state and local government employees plus public school teachers.[6]

References

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  1. ^ "Section 41-172, Arizona Revised Statutes". Arizona Legislative Council. Retrieved August 12, 2024.
  2. ^ "Title 34, Chapter 1, Articles 3, 4, and 5; Chapter 2, Articles 1 and 2". Arizona Legislative Council. Retrieved August 12, 2024.
  3. ^ "General Accounting Office". Arizona Department of Administration. Retrieved August 12, 2024.
  4. ^ "Investment Performance". Arizona State Treasurer's Office. Retrieved August 12, 2024.
  5. ^ "Frequently Asked Questions". Arizona State Treasurer's Office. Retrieved August 12, 2022.
  6. ^ "About Us". Arizona State Retirement System. Retrieved August 12, 2024.
  7. ^ "Board of Investment". Arizona State Treasurer's Office. Retrieved August 12, 2024.
  8. ^ "Section 37-202, Arizona Revised Statutes". Arizona Legislative Council. Retrieved August 12, 2024.
  9. ^ "Section 35-421, Arizona Revised Statutes". Arizona Legislative Council. Retrieved August 12, 2024.
  10. ^ "Constitution of Arizona: Article V, Section 6". Arizona Legislature. Retrieved August 22, 2019.
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