Minnesota State Treasurer Explained

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

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

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

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.

List of territorial and state treasurers

Territorial treasurers

Name Took office Left office Party
Calvin A. Tuttle 18491853Whig
George W. Prescott18531854Democratic
Charles E. Leonard 18541857Democratic
George W. Armstrong18571858Democratic

State treasurers

No.Image Name Took office Left office Party
1George W. ArmstrongMay 24, 1858January 1, 1860Democratic
2Charles SchefferJanuary 1, 1860January 10, 1868Republican
3January 10, 1868January 5, 1872 Republican
4William Seeger January 5, 1872February 7, 1873Republican
5Edwin W. DykeFebruary 7, 1873January 7, 1876Republican
Democratic
6January 7, 1876January 10, 1880Republican
7Charles Kittelson January 10, 1880January 5, 1887Republican
8Joseph BobleterJanuary 5, 1887January 7, 1895Republican
9August T. KoernerJanuary 7, 1895January 7, 1901Republican
10Julius H. BlockJanuary 7, 1901January 7, 1907Republican
11Clarence C. DinehartJanuary 7, 1907June 8, 1910Republican
12Elias Steele PettijohnJune 8, 1910January 3, 1911Republican
13Walter J. Smith January 3, 1911February 14, 1916Republican
14Arthur C. GoodingFebruary 14, 1916January 2, 1917Republican
15Henry RinesJanuary 2, 1917July 1, 1925Republican
16Edward W. StarkJuly 1, 1925January 4, 1927Republican
17Julius A. SchmahlJanuary 4, 1927January 5, 1937Republican
18C. A. HalversonJanuary 5, 1937January 2, 1939Farmer–Labor
19Julius A. SchmahlJanuary 2, 1939January 2, 1951Republican
20Val BjornsonJanuary 2, 1951January 3, 1955Republican
21Arthur HansenJanuary 3, 1955January 7, 1957DFL
22Val BjornsonJanuary 7, 1957January 6, 1975Republican
23Jim LordJanuary 6, 1975January 3, 1983DFL
24Robert W. Mattson Jr.January 3, 1983January 5, 1987DFL
25Michael McGrathJanuary 5, 1987January 4, 1999DFL
26Carol C. JohnsonJanuary 4, 1999January 6, 2003DFL

Notes on Minnesota political party names

On April 15, 1944 the state Democratic Party and the Minnesota Farmer-Labor Party merged and created the Minnesota Democratic-Farmer-Labor Party (DFL). It is affiliated with the national Democratic Party.

From November 15, 1975 to September 23, 1995 the name of the state Republican party was the Independent-Republican party (I-R). The party has always been affiliated with the national Republican Party.

External links

Notes and References

  1. Web site: Article VII, Sections 1, 2, and 6 of the Minnesota Constitution. Minnesota Office of the Revisor of Statutes. February 8, 2022.
  2. Web site: Article V, Section 3 of the Minnesota Constitution. Minnesota Office of the Revisor of Statutes. February 8, 2022.
  3. Web site: Article VIII, Sections 1, 2, and 6. Minnesota Office of the Revisor of Statutes. February 8, 2022.
  4. Web site: 1956 Minnesota Session Laws, Chapter 813. Minnesota Office of the Revisor of Statutes. September 25, 2022.
  5. Web site: Core Functions of the Cash Management Unit. Minnesota Department of Management and Budget. September 25, 2022.
  6. Web site: Office of State Treasurer. Minnesota Legislative Reference Library. September 25, 2022.
  7. Web site: 1998 Minnesota Session Laws, Chapter 387. Minnesota Office of the Revisor of Statutes. September 25, 2022.
  8. Web site: Financial Audit of the Office of the State Treasurer. Minnesota Office of the Legislative Auditor. en. 2018-11-05.