California Treasurer
| California Treasurer | |
 | |
| General information | |
| Office Type: | Partisan |
| Office website: | Official Link |
| 2012-13 FY Budget: | $27,986,000 |
| Term limits: | 2 terms |
| Structure | |
| Length of term: | 4 years |
| Authority: | California Constitution, Article 5, Section 11 |
| Selection Method: | Elected |
| Current Officeholder | |
 | |
| Name: | John Chiang |
| Officeholder Party: | Democratic |
| Assumed office: | January 2015 |
| Compensation: | $146,232 |
| Elections | |
| Next election: | November 6, 2018 |
| Last election: | November 4, 2014 |
| Other California Executive Offices | |
| Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Auditor • Controller • Superintendent of Public Instruction • Agriculture Secretary • Insurance Commissioner • Natural Resources Secretary • Industrial Relations Director • Public Utilities Commission | |
Current officeholder
The current treasurer is John Chiang (D), who was first elected to the position on November 4, 2014. He replaced Bill Lockyer (D), who term-limited from running for re-election in 2014.
Authority
The office of treasurer is established by the California Constitution.[1]
California Constitution, Article 5, Section 11
|
The Lieutenant Governor, Attorney General, Controller, Secretary of State, and Treasurer shall be elected at the same time and places and for the same term as the Governor. |
Qualifications
Although there are no office-specific requirements for the office, each candidate for treasurer must:[2]
- Be a registered voter
- Be registered with their party for at least three months
- Not have been registered with a different political party in the last 12 months
- Not have been previously term-limited out
Elections
Treasurers are elected on the first Tuesday after the first Monday in federal midterm election years, e.g. 2018, 2022, 2026 and 2030.[3] Like all constitutional state officers, the treasurer assumes office on the first Monday in the new year following the election.[1]
California Constitution, Article 5, Section 11
|
The Lieutenant Governor, Attorney General, Controller, Secretary of State, and Treasurer shall be elected at the same time and places and for the same term as the Governor. No Lieutenant Governor, Attorney General, Controller, Treasurer, or Treasurer may serve in the same office for more than 2 terms. |
2014
| Treasurer of California, 2014 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic |  John Chiang |
58.8% | 4,176,793 | |
| Republican | Greg Conlon | 41.2% | 2,925,895 | |
| Total Votes | 7,102,688 | |||
| Election results via California Secretary of State | ||||
Term limits
Treasurers, like all state constitutional officers, face an absolute limit of two terms in office.[1]
Vacancies
The vacancy procedure for the office of treasurer is determined by the California Constitution. When a vacancy occurs, the governor nominates a replacement to serve the remainder of the term until the next election. The appointee must be confirmed by a majority of both house of the state legislature. Until the replacement is approved, the former officeholder's chief deputy exercises the office.[4]
California Constitution, Article 5, Section 5b
|
Whenever there is a vacancy in the office of the Superintendent of Public Instruction, the Lieutenant Governor, Secretary of State, Controller, Treasurer, or Attorney General, or on the State Board of Equalization, the Governor shall nominate a person to fill the vacancy who shall take office upon confirmation by a majority of the membership of the Senate and a majority of the membership of the Assembly and who shall hold office for the balance of the unexpired term. In the event the nominee is neither confirmed nor refused confirmation by both the Senate and the Assembly within 90 days of the submission of the nomination, the nominee shall take office as if he or she had been confirmed by a majority of the Senate and Assembly; provided, that if such 90-day period ends during a recess of the Legislature, the period shall be extended until the sixth day following the day on which the Legislature reconvenes. |
Duties
The treasurer is the state's banker, directed to "receive and keep in the vaults of the State Treasury or deposit in banks or credit unions all moneys belonging to the state..."[5] He disburses funds to cover state expenditures based on warrants from the controller's office, approves state bond issuances and manages the state's investments, including state employee pension funds.
Beyond his administrative duties, the treasurer chairs 13 state boards and commissions, from the California Alternative Energy and Advanced Transportation Financing Authority to the California Tax Credit Allocation Committee. He sits as a member on 45 additional committees.
Divisions
- Administration
- Centralized Treasury and Securities Management Division
- Communications
- IT
- Investments
- Public Finance
- Bond Sale/Financial Information[6]
State budget
- See also: California state budget and finances
The budget for the California Treasurer's office in Fiscal Year 2012-2013 was $27,986,000.[7]
Compensation
- See also: Compensation of state executive officers
The salaries of California's elected executives are determined by the California Citizens Compensation Commission, a seven-member board appointed by the governor to six-year terms. The commission was established after voters passed Proposition 112, an amendment to the California Constitution, in 1990. Commissioners meet prior to June 30 of each year to determine salary recommendations with changes effective the following December. From 2001 to 2013, the commission voted to increase salaries or benefits five times and decreased or made no changes to salaries eight times.[8]
2016
In 2016, the treasurer received a salary of $146,232, according to the Council of State Governments.[9]
2015
In 2015, the treasurer received a salary of $141,973, according to the Council of State Governments.[10]
2014
In 2014, the treasurer received a salary of $139,189, according to the Council of State Governments.[11]
2013
In 2013, the treasurer received a salary of $139,189. This figure comes from the Council of State Governments.[12]
2010
In 2010, the treasurer received compensation in the amount of $139,189.[13]
Historical officeholders
| List of Former
Officeholders from 1849-Present[14] | |||||
|---|---|---|---|---|---|
| # | Name | Tenure | Party | ||
| 1 | Richard Roman | 1849-1854 |  Democratic
| ||
| 2 | Selden A. McMeans | 1854-1856 | Democratic
| ||
| 3 | Henry Bates | 1856-1857 |  American Independent Party
| ||
| 4 | James L. English | 1857-1858 | American Independent Party
| ||
| 5 | Thomas Findley | 1858-1862 | Democratic
| ||
| 6 | Delos R. Ashley | 1862-1863 |  Republican
| ||
| 7 | Romualdo Pacheco | 1863-1867 | Republican
| ||
| 8 | Antonio F. Coronel | 1867-1871 | Democratic
| ||
| 9 | Ferdinand Baehr | 1871-1875 | Republican
| ||
| 10 | Jose G. Estudillo | 1875-1880 | Democratic
| ||
| 11 | John Well | 1880-1883 | Republican
| ||
| 12 | William A. January | 1883-1884 | Democratic
| ||
| 13 | D. J. Oullahan | 1884-1887 | Democratic
| ||
| 14 | Adam Herold | 1887-1891 | Democratic
| ||
| 15 | J. R. McDonald | 1891-1895 | Republican
| ||
| 16 | Levi Rackliffe | 1895-1898 | Republican
| ||
| 17 | Will S. Green | 1898-1890 | Democratic
| ||
| 18 | Truman Reeves | 1899-1907 | Republican
| ||
| 19 | William R. Williams | 1907-1911 | Republican
| ||
| 20 | E. D. Roberts | 1911-1915 | Republican
| ||
| 21 | Friend Wm. Richardson | 1915-1923 |  Progressive Democratic Party
| ||
| 22 | Charles G. Johnson | 1923-1956 | Republican
| ||
| 23 | Ronald A. Button | 1956-1959 | Republican
| ||
| 24 | Bert A. Betts | 1959-1967 | Democratic
| ||
| 25 | Ivy Baker Priest | 1967-1975 | Republican
| ||
| 26 | Jesse M. Unruh | 1975-1987 | Democratic
| ||
| 27 | Thomas Hayes | 1989-1991 | Republican
| ||
| 28 | Kathleen Brown | 1991-1995 | Democratic
| ||
| 29 | Matt Fong | 1995-1999 | Republican
| ||
| 30 | Phil Angelides | 1999-2007 | Democratic
| ||
| 31 | Bill Lockyer | 2007-2015 | Democratic
| ||
| 32 | John Chiang | 2015-present | Democratic
| ||
Recent news
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Contact Information
Physical address:
California State Treasurer's Office
915 Capitol Mall C-15
Sacramento, CA 95814
Phone: (916) 653-2995
See also
External links
Footnotes
- ↑ 1.0 1.1 1.2 California Constitution, "Article 5, Section 11," accessed June 23, 2011
- ↑ California Secretary of State, "Summary of Qualifications and Requirements for June 8, 2010 Primary Election... Secretary of State, Controller, or Treasurer," accessed June 23, 2011
- ↑ California Elections Code, "Sections 1001-1003," accessed June 23, 2011
- ↑ California Constitution, "Article 5, Section 5b," accessed June 27, 2011
- ↑ California Government Code, "Title 2, Division 3, Part 2, Chapter 4, Article 2," accessed June 24, 2011
- ↑ California State Treasurer, "Divisions and Offices," accessed July 22, 2016
- ↑ California Governor's Budget 2012-13, "0950 State Treasurer," accessed March 29, 2013
- ↑ California Citizens Compensation Commission, "About the Commission," accessed February 19, 2015
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2015," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries," accessed November 14, 2014
- ↑ The Council of State Governments, "Book of the States 2013, Table 4.11," accessed February 2, 2014
- ↑ Council of State Governments, "Book of the States 2010 -- Table 4.11," accessed June 23, 2011
- ↑ National Governors Association, "History of California Constitutional Officers," accessed September 9, 2013
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