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Minnesota State Treasurer

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This article is about a former political office. For a similar current institution, see Minnesota Department of Management and Budget.

The state treasurer of Minnesota was a constitutional officer in the executive branch of the U.S. state of Minnesota. Twenty-six individuals occupied the office of state treasurer from 1858 until the office's abolition in 2003. The final state treasurer was Carol C. Johnson, a DFLer.

Election and term of office

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The state treasurer was elected by the people on Election Day in November, and took office on the first Monday of the next January. There was no limit to the number of terms a state treasurer may hold. To be elected state treasurer, a person must have been a qualified voter, permanently resident in the state of Minnesota at least 30 days prior to the election, and at least 21 years of age.[1]

In the event of a vacancy in the office of the state treasurer, the governor was empowered to appoint a successor to serve the balance of the term.[2] The state treasurer could also be recalled by the voters or removed from office through an impeachment trial.[3]

Beginning with the 1962 election, the term of the office increased from two to four years.[4]

Powers and duties

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Throughout the office's existence, the state treasurer served as the banker of state government. This function entailed managing and accounting for the state's cash flows, coordinating banking services for state agencies, collecting receipts, issuing payments, reconciling state bank accounts, and servicing the state debt.[5] Prior to 1983, the state treasurer also administered unclaimed property.[6]

History

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A 1998 constitutional amendment abolished the position of state treasurer, effective January 6, 2003.[7] The functions of the office were transferred to the commissioner of finance, who is appointed by the governor and confirmed by the Minnesota Senate.[8] The position of commissioner of finance became commissioner of Minnesota Management and Budget in 2009.[9]

List of territorial and state treasurers

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Territorial treasurers

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Name Took office Left office Party
Calvin A. Tuttle 1849 1853 Whig
George W. Prescott 1853 1854 Democratic
Charles E. Leonard 1854 1857 Democratic
George W. Armstrong 1857 1858 Democratic

State treasurers

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No. Image Name Took office Left office Party
1 George W. Armstrong May 24, 1858 January 1, 1860 Democratic
2 Charles Scheffer January 1, 1860 January 10, 1868 Republican
3 Emil D. Munch January 10, 1868 January 5, 1872 Republican
4 William Seeger January 5, 1872 February 7, 1873 Republican
5 Edwin W. Dyke February 7, 1873 January 7, 1876 Republican
Democratic
6 William Pfaender January 7, 1876 January 10, 1880 Republican
7 Charles Kittelson January 10, 1880 January 5, 1887 Republican
8 Joseph Bobleter January 5, 1887 January 7, 1895 Republican
9 August T. Koerner January 7, 1895 January 7, 1901 Republican
10 Julius H. Block January 7, 1901 January 7, 1907 Republican
11 Clarence C. Dinehart January 7, 1907 June 8, 1910 Republican
12 Elias Steele Pettijohn June 8, 1910 January 3, 1911 Republican
13 Walter J. Smith January 3, 1911 February 14, 1916 Republican
14 Arthur C. Gooding February 14, 1916 January 2, 1917 Republican
15 Henry Rines January 2, 1917 July 1, 1925 Republican
16 Edward W. Stark July 1, 1925 January 4, 1927 Republican
17 Julius A. Schmahl January 4, 1927 January 5, 1937 Republican
18 C. A. Halverson January 5, 1937 January 2, 1939 Farmer–Labor
19 Julius A. Schmahl January 2, 1939 January 2, 1951 Republican
20 Val Bjornson January 2, 1951 January 3, 1955 Republican
21 Arthur Hansen January 3, 1955 January 7, 1957 DFL
22 Val Bjornson January 7, 1957 January 6, 1975 Republican
23 Jim Lord January 6, 1975 January 3, 1983 DFL
24 Robert W. Mattson Jr. January 3, 1983 January 5, 1987 DFL
25 Michael McGrath January 5, 1987 January 4, 1999 DFL
26 Carol C. Johnson January 4, 1999 January 6, 2003 DFL

Notes on Minnesota political party names

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References

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  1. ^ "Article VII, Sections 1, 2, and 6 of the Minnesota Constitution". Minnesota Office of the Revisor of Statutes. Retrieved February 8, 2022.
  2. ^ "Article V, Section 3 of the Minnesota Constitution". Minnesota Office of the Revisor of Statutes. Retrieved February 8, 2022.
  3. ^ "Article VIII, Sections 1, 2, and 6". Minnesota Office of the Revisor of Statutes. Retrieved February 8, 2022.
  4. ^ "1956 Minnesota Session Laws, Chapter 813". Minnesota Office of the Revisor of Statutes. Retrieved September 25, 2022.
  5. ^ "Core Functions of the Cash Management Unit". Minnesota Department of Management and Budget. Retrieved September 25, 2022.
  6. ^ "Office of State Treasurer". Minnesota Legislative Reference Library. Retrieved September 25, 2022.
  7. ^ "1998 Minnesota Session Laws, Chapter 387". Minnesota Office of the Revisor of Statutes. Retrieved September 25, 2022.
  8. ^ "Financial Audit of the Office of the State Treasurer". Minnesota Office of the Legislative Auditor. Retrieved 2018-11-05.
  9. ^ For additional historical background on the Office of the State Treasurer, see "Historical Information About the Treasurer's Office". Minnesota Department of Management and Budget. Retrieved September 25, 2022.
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