Indiana State Treasurer

The Indiana Treasurer of State is a constitutional and elected office in the executive branch of the government of Indiana. The treasurer is responsible for managing the finances of the U.S. state of Indiana. The position was filled by appointment from 1816 until the adoption of the new Constitution of Indiana in 1851, which made the position filled by election. As of 2023, there have been fifty-five treasurers. The incumbent is Republican Dan Elliott who has served in the position since January 9, 2023.

Term limits and qualification

The Indiana State Treasurer is a constitutional office first established in the 1816 Constitution of Indiana, and was made largely to mirror the position of the treasurer during Indiana's territorial period. Between 1816 and until 1851, the treasurer was nominated by the governor and confirmed by the state senate. With adoption of the current constitution in 1851 the treasurer's office was filled by a public statewide election every four years.Indiana Chamber, p. 16

Treasurers take office on February 10 following their election and hold office for four years. Should they resign, be impeached, or die in office the governor has the power to appoint a temporary treasurer to serve until the next general election. The new treasurer, either appointed to elected may only complete the term of the previous treasurer, not serve a new four-year term. A treasurer may be elected to consecutive terms, but may serve no more than eight years in any twelve-year period.

Powers The treasurer's powers are both constitutional and statutory. The treasurer's constitutional powers make him the chief financial officer of the state government and give him control over all of the state's financial assets. Because the state operates with a large reserve fund, this gives the treasurer control over a large amount of money. In 2007, the total state portfolio was valued at over $5 billion. The treasurer is permitted to invest the funds several different ways, including investments in United States Treasury securities, certificates of deposit, repurchase agreements, and money market mutual funds.

The Indiana General Assembly has assigned the treasurer additional statutory power and made him a member of the state Board of Finance, Indiana Finance Authority, Indiana Transportation Finance Authority, State Office Building Commission, Recreational Development Commission, Indiana Grain Indemnity Fund Board, Indiana Underground Storage Tank Financial Assurance Board, and the Indiana Heritage Trust Committee. Additionally, the treasurer is the vice-chairman of the Indiana Housing Finance Authority and the Indiana State Police Pension Fund. As a member of these boards, the treasurer has a wide range of influence on the state's financial management.

The treasurer is also the head of several of the most important state financial organizations. The treasurer is chairman of the Indiana Bond Bank, a state controlled bank that provides financing to municipal government to allow for large infrastructure investments. The bank then sells the debts as secured bonds on the national market. This allows local governments to secure credit a low rate of interest. The treasurer is also the chairman of the Indiana Education Savings Authority which manages savings accounts for college educations. The treasurer chairs the Public Deposit Insurance Fund and the Board for Depositories that insures the deposits of municipal governments in the state, much as the Federal Deposit Insurance Corporation insures private accounts, except without limiting the amount of the insurance.Indiana Chamber, p. 17 The Indiana Institute for Public Funds Management is private organization that was developed to provide financial education for municipal government leaders. The treasurer is designated by the organization its chairman.Indiana Chamber, p. 18

List of treasurers

Territorial treasurers #NameTook officeLeft officePartyHometownNotes1Davis Floyd18141816Democratic-RepublicanCorydon, Indiana

State treasurers #ImageNameTook officeLeft officePartyHometownNotes1Daniel Crosby LaneNovember 16, 1816December 28, 1822Democratic-RepublicanHarrison County, Indiana2Samuel MerrillDecember 28, 1822February 13, 1834WhigCorydon & Indianapolis, Indiana3Nathan B. PalmerFebruary 13, 1834February 9, 1841DemocraticJefferson County, Indiana4George H. DunnFebruary 9, 1841February 9, 1844WhigJefferson County, Indiana5Royal MayhewFebruary 9, 1844February 9, 1847DemocraticLawrenceburg, Indiana6Samuel HannahFebruary 9, 1847February 9, 1850WhigShelby County, Indiana7James P. DrakeFebruary 9, 1850February 9, 1853DemocraticIndianapolis, Indiana8Elijah NewlandFebruary 9, 1853February 9, 1855DemocraticWashington County, Indiana9William R. NofsingerFebruary 9, 1855February 9, 1857RepublicanParke County, Indiana10Aquilla JonesFebruary 9, 1857February 9, 1859DemocraticColumbus, Indiana11Nathaniel G. CunninghamFebruary 9, 1859February 9, 1861DemocraticVigo County, Indiana12Jonathan S. HarveyFebruary 9, 1861February 9, 1863RepublicanJeffersonville, Indiana13Matthew L. BrettFebruary 9, 1863February 9, 1865DemocraticDaviess County, Indiana14John I. MorrisFebruary 9, 1865February 9, 1867RepublicanSalem, Indiana15Nathan KimballFebruary 9, 1867February 9, 1871RepublicanLoogootee, Indiana16James B. RyanFebruary 9, 1871February 9, 1873DemocraticIndianapolis, Indiana17John B. GloverFebruary 9, 1873February 9, 1875RepublicanBedford, Indiana18Benjamin C. ShawFebruary 9, 1875February 9, 1879DemocraticIndianapolis, Indiana19William FlemingFebruary 9, 1879February 5, 1881DemocraticFort Wayne, Indiana20Roswell S. HillFebruary 5, 1881February 9, 1883RepublicanBrazil, Indiana21John J. CooperFebruary 9, 1883February 9, 1887DemocraticIndianapolis, Indiana22Julius A. LemckeFebruary 9, 1887February 9, 1891RepublicanEvansville, Indiana23Albert GallFebruary 9, 1891February 9, 1895DemocraticIndianapolis, Indiana24Frederick J. ScholzFebruary 9, 1895February 10, 1899RepublicanEvansville, Indiana25Leopold LevyFebruary 10, 1899February 9, 1903RepublicanIndianapolis, Indiana26Nathaniel U. HillFebruary 9, 1903February 10, 1907RepublicanBloomington, Indiana27Oscar C. HadleyFebruary 10, 1907February 9, 1911RepublicanPlainfield, Indiana28William H. VollmerFebruary 10, 1911February 10, 1915DemocraticVincennes, Indiana29George A. BittlerFebruary 10, 1915February 10, 1917DemocraticFort Wayne, Indiana30Uz McMurtieFebruary 10, 1917February 10, 1921RepublicanMarion, Indiana31Ora J. DaviesFebruary 10, 1921February 10, 1925RepublicanKokomo, Indiana32Bernhardt H. UrbahnsFebruary 10, 1925January 22, 1926RepublicanIndianapolis, IndianaBernhardt H. Urbahms died in office and his wife Grace was appointed in his place. (Funk, p. 211)33Grace UrbahnsJanuary 22, 1926February 10, 1931RepublicanIndianapolis, IndianaGrace Urbahns was married during her second term and became Mrs. Grace Banta Reynolds. (Funk, p. 211)34William StorenFebruary 10, 1931February 10, 1935DemocraticScottsburg, Indiana35Peter HeinFebruary 10, 1935February 10, 1939DemocraticCrown Point, Indiana36Joseph M. RobertsonFebruary 10, 1939February 10, 1941DemocraticBrownstown, Indiana37James M. GivensFebruary 10, 1941February 10, 1945RepublicanPorter, Indiana38Frank T. MillisFebruary 10, 1945February 10, 1949RepublicanCampbellsburg, Indiana39F. Shirley WilcoxFebruary 10, 1949February 10, 1951DemocraticNew Albany, Indiana40William L. FortuneFebruary 10, 1951February 10, 1953RepublicanCarmel, Indiana42John PetersFebruary 10, 1953February 10, 1957RepublicanNew Albany, Indiana43Adolph L. FosslerFebruary 10, 1957February 10, 1959RepublicanIndianapolis, Indiana44Jack A. HaymakerFebruary 10, 1959February 10, 1961DemocraticLogansport, Indiana45Robert E. HughesFebruary 10, 1961February 10, 1963RepublicanGreenwood, Indiana46Jack L. NewFebruary 10, 1965February 10, 1967DemocraticGreenwood, Indiana47John SnyderFebruary 10, 1967February 10, 1971RepublicanWashington, Indiana48Jack L. NewFebruary 10, 1971February 10, 1979DemocraticGreenfield, Indiana49Julian RidlenFebruary 10, 1979February 10, 1987RepublicanLogansport, Indiana50Marjorie H. O’LaughlinFebruary 10, 1987February 10, 1995RepublicanIndianapolis, Indiana51Joyce BrinkmanFebruary 10, 1995February 10, 1999RepublicanIndianapolis, Indiana52Tim BerryFebruary 10, 1999February 10, 2007RepublicanFort Wayne, Indiana53Richard MourdockFebruary 10, 2007August 29, 2014RepublicanEvansville, Indiana54Kelly MitchellNovember 18, 2014January 9, 2023RepublicanLogansport, Indiana55Dan ElliottJanuary 9, 2023presentRepublicanGreen Township, Indiana

Notes

See also

Government of Indiana

Sources

External links