North Carolina State Treasurer

Last updated
State Treasurer of North Carolina
Seal of the North Carolina Department of the Treasury.jpg
Seal of the North Carolina Department of the Treasury
Dale Wiki.jpg
Incumbent
Dale Folwell
since January 1, 2017 (2017-01-01)
Member of Council of State
Seat Raleigh, North Carolina
Term length Four years, no term limit
Inaugural holder Memucan Hunt
Formation1715 Province of North Carolina
January 1, 1784
(240 years ago)
 (1784-01-01) State of North Carolina
Website www.nctreasurer.com

The North Carolina State Treasurer is a statewide elected office in the U.S. state of North Carolina responsible for overseeing the financial operations of state government. The current state treasurer is Dale Folwell.

Contents

The office of state treasurer has existed since 1715 in the Province of North Carolina; at that time, the treasurer was appointed by the lower house of the legislature. In 1740, the treasurer's office was divided into two districts, and in 1779, into four. In 1784, the North Carolina General Assembly brought the treasurers under one single office, appointed jointly by both houses of the legislature.

Under the North Carolina Constitution of 1868, the treasurer became a position elected by popular vote, rather than appointed.

The North Carolina State Treasurer is an ex officio member of the North Carolina State Board of Education, the State Board of Community Colleges, the State Banking Commission, and the Council of State.

History of the office

North Carolina State Treasurer's Office in State Capitol, c. 1890s NC State Treasurer's Office 1890.jpg
North Carolina State Treasurer's Office in State Capitol, c. 1890s

The Fundamental Constitutions of Carolina, adopted in 1669, provided for a treasurer to handle "all matters that concern the public revenue and treasury" with the assistance of 6 undertreasurers and 12 auditors. [1] Despite this, early colonial governors of the Province of Carolina acted as their own treasurers due to minimal revenue. After the province incurred large debts during Cary's Rebellion and the Tuscarora War, the governor and his council appointed treasurers for each of the seven precincts of the province in 1711. In 1714 Governor Edward Hyde appointed Edward Moseley as treasurer of North Carolina and overseer of all precinct treasurers. He held the office until 1735, when he was made responsible for overseeing the "southern district" and William Downing was made responsible for the "northern district". The split system continued with different officeholders until 1776, when the North Carolina General Assembly required all treasurers to be appointed by themselves and barred them from holding other public offices. [1]

In 1779 and 1782, four and one additional treasury districts were respectively added, bring the total number to seven. [2] In 1784, the positions were folded into one office located in Hillsborough with a two-year term on a salary. Memucan Hunt was the first person to hold the new office. In 1795, the state treasury was relocated to Raleigh, the new capital of the state, and some of the treasurer's bookkeeping functions were given to the state comptroller. In 1868 North Carolina ratified a new constitution which stipulated that the office be filled by a popularly elected candidate with four-year terms. [1] From 1887 to 1899, the treasurer was responsible for oversight of the state banking industry. [3]

North Carolina received a triple A bond credit rating for the first time in the early 1960s—during the tenure of State Treasurer Edwin M. Gill—and maintained the rating throughout the rest of his time in office. [4] The Department of State Treasurer was created by the General Assembly in 1971. [5] John Haywood, who served for 40 years from 1787 until 1827, was the longest-tenured treasurer. [2] Janet Cowell, who assumed office in 2009, was the first woman to serve as state treasurer. [6] The incumbent, Dale Folwell, has served as treasurer since January 1, 2017. [7] He is the first Republican to hold the office since David A. Jenkins served during the Reconstruction era from 1868 to 1876. [8]

Powers, duties, and structure

The state treasurer is a constitutional officer. [9] Article III, Section 7, of the Constitution of North Carolina stipulates the popular election of the treasurer every four years. [10] The office holder is not subject to term limits. [11] In the event of a vacancy in the office, the Governor of North Carolina has the authority to appoint a successor until a candidate is elected at the next general election for members of the General Assembly. [10] They sit on the North Carolina Council of State [1] and are ex officio chairman of the State Banking Commission, member of the State Board of Education, and member of the State Board of Community Colleges. [9] They are sixth in line of succession to the governor. [12] [13]

The treasurer leads the Department of State Treasurer, [9] which has six divisions: Retirement Systems Division, State Health Plan Division, Investment Management Division, State and Local Government Finance Division, Financial Operations Division, and Unclaimed Property Division. [14] The Local Government Commission is a subagency of the department [15] [16] and the treasurer serves ex officio as chairman of the body. [17] The treasurer is the sole fiduciary of the governmental employee pension fund and manages the State Health Plan. [8] As with all Council of State officers, the treasurer's salary is fixed by the General Assembly and cannot be reduced during their term of office. [18] In 2022, the treasurer's annual salary was $146,421. [19]

List of State Treasurers

Joseph Montfort Montfort, Joseph.jpg
Joseph Montfort

Colonial Treasurers

Northern District

Southern District

State Treasurers

Districted

From 1777 to 1779, the State was divided into two districts, Northern and Southern, each with a treasurer. From 1779 to 1782, there were six districts, each with a treasurer, as follows: Edenton, Salisbury, Hillsboro, Halifax, New Bern, Wilmington. In 1782, a seventh district-Morgan-was created. In 1784, the district system was abandoned. [23] [24] [25]

Whole state

State Treasurers (legislatively appointed)
No.State TreasurerTerm in officeSource
1 Memucan Hunt, Sr.jpg Memucan Hunt 1784 1787 [2]
2 North Carolina State Treasurer John Haywood.png John Haywood 1787 1827 [2]
3 William S. Robards 1827 1830 [2]
4 William S. Mhoon 1831 1835 [2]
5 Samuel Finley Patterson.png Samuel F. Patterson 1835 1837 [2]
6 Daniel William Courts on North Carolina Five Dollar Bill.jpg Daniel W. Courts 1837 1839 [2]
7 Charles L. Hinton 1839 1843 [2]
8 John Hill Wheeler.jpg John H. Wheeler 1843 1845 [2]
9Charles L. Hinton1845 1851 [2]
10 Daniel William Courts on North Carolina Five Dollar Bill.jpg Daniel W. Courts1851 1863 [2]
11 Jonathan Worth (North Carolina).jpg Jonathan Worth 1863 1865 [2]
12 William Sloan 1865 1866 [2]
13 Kemp Plummer Battle.jpg Kemp P. Battle 1866 1868 [2]
State Treasurers (elected)
No.State TreasurerTerm in officePartySource
14 David A. Jenkins 1868 1876 Republican [2]
15 John Milton Worth.jpg John M. Worth 1876 1885 Democratic [2]
16 Donald W. Bain.jpg Donald W. Bain 1885 1892Democratic [2]
17 Samuel M. Tate.png Samuel McDowell Tate 1892 1895Democratic [2]
18 William Henry Worth.jpg William H. Worth 1895 1901 Populist [2]
19 Benjamin R. Lacy.png Benjamin R. Lacy 1901 1929Democratic [2]
20 Nathan O'Berry.png Nathan O'Berry 1929 1932Democratic [2]
21 John P. Stedman 1932Democratic [2]
22 North Carolina Treasurer Charles Johnson.jpg Charles M. Johnson 1933 1949Democratic [2]
23 Brandon P. Hodges.jpg Brandon P. Hodges 1949 1953Democratic [2]
24 Edwin Gill circa 1961.jpg Edwin M. Gill 1953 1977Democratic [2]
25 Harlan E. Boyles 1977 2001Democratic [2]
26 Richard H. Moore 2001 2009Democratic [2]
27 State Senator Janet Cowell.jpg Janet Cowell 2009 2017Democratic [2]
28 Dale Wiki.jpg Dale Folwell 2017 presentRepublican [2]

Related Research Articles

<span class="mw-page-title-main">Governor of North Carolina</span> Head of state and government of the U.S. state of North Carolina

The governor of North Carolina is the head of government of the U.S. state of North Carolina. Seventy-five people have held the office since its inception in 1776. The governor serves a term of four years and chairs the collective body of the state's elected executive officials, the Council of State. The governor's powers and responsibilities are prescribed by the state constitution and by law. They serve as the North Carolina's chief executive and are tasked by the constitution with faithfully carrying out the laws of the state. They are ex officio commander in chief of the North Carolina National Guard and director of the state budget. The office has extensive powers of appointment of executive branch officials, some judges, and members of boards and commissions. Governors are also empowered to grant pardons and veto legislation.

<span class="mw-page-title-main">North Carolina General Assembly</span> Legislative branch of the state government of North Carolina

The North Carolina General Assembly is the bicameral legislature of the state government of North Carolina. The legislature consists of two chambers: the Senate and the House of Representatives. The General Assembly meets in the North Carolina State Legislative Building in Raleigh.

<span class="mw-page-title-main">North Carolina Council of State</span> Collective decision-making body of the state

The North Carolina Council of State is the collective body of ten elective executive offices in the state government of North Carolina, all of which are established by the state constitution. The Council of State includes the Governor, Lieutenant Governor, Secretary of State, State Auditor, Treasurer, Superintendent of Public Instruction, Attorney General, Commissioner of Agriculture, Commissioner of Labor, and Commissioner of Insurance. Together with the North Carolina Cabinet and several independent agencies, the Council of State offices constitute the executive branch of North Carolina's state government.

<span class="mw-page-title-main">Lieutenant Governor of North Carolina</span> Second-highest elected official in the U.S. state of North Carolina

The lieutenant governor of North Carolina is the second-highest elected official in the U.S. state of North Carolina and is the only elected official to have powers in both the legislative and executive branches of state government. A member of the North Carolina Council of State, the lieutenant governor serves a four-year term with a two consecutive term limit. The current lieutenant governor is Mark Robinson, a Republican, who has held the office since 2021. The Constitution of North Carolina designates the lieutenant governor the ex officio president of the State Senate and a member of the State Board of Education. They are also required to serve as acting governor of the state in the event of the governor's absence, and assume the governorship in the event it becomes vacant.

<span class="mw-page-title-main">North Carolina State Auditor</span> Auditor of the U.S. state of North Carolina

The State Auditor of North Carolina is a statewide elected office in the U.S. state of North Carolina. The state auditor is a constitutional officer responsible for overseeing and reviewing the financial accounts of all state government agencies. The auditor also conducts performance audits of state agencies, ensures state agencies' accounting conforms with Generally Accepted Accounting Principles, evaluates the integrity of computer-generated information, and investigates the misuse of state funds or property. The incumbent is Jessica Holmes, who became state auditor on December 16, 2023.

<span class="mw-page-title-main">North Carolina Secretary of State</span> Political office in North Carolina, United States

The North Carolina Secretary of State is an elected constitutional officer in the executive branch of the government of the U.S. state of North Carolina, and is fourth in the line of succession to the office of Governor of North Carolina. The secretary maintains the official journal of the North Carolina General Assembly and is responsible for overseeing land records, chartering corporations, and administering some commercial regulations. The incumbent is Elaine Marshall, a Democrat and the first woman elected to the office.

The North Carolina General Assembly of 1779 met in three sessions in three locations in the years 1779 and 1780. The first session was held in Smithfield from May 3 to May 15, 1779; the second session in Halifax, from October 18 to November 10, 1779; the third and final session in New Bern, from January to February, 1780.

<span class="mw-page-title-main">North Carolina Supreme Court</span> Highest court in the U.S. state of North Carolina

The Supreme Court of the State of North Carolina is the state of North Carolina's highest appellate court. Until the creation of the North Carolina Court of Appeals in the 1960s, it was the state's only appellate court. The Supreme Court consists of six associate justices and one chief justice, although the number of justices has varied. The primary function of the Supreme Court is to decide questions of law that have arisen in the lower courts and before state administrative agencies.

<span class="mw-page-title-main">North Carolina Attorney General</span> Attorney general for the U.S. state of North Carolina

The attorney general of North Carolina is a statewide elected office in the U.S. state of North Carolina. The attorney general is a constitutional officer responsible for representing state agencies in legal matters, supplying other state officials and prosecutors with legal advice, and leading the North Carolina Department of Justice. The incumbent attorney general, Josh Stein, assumed office on January 1, 2017. The position of attorney general dates back to North Carolina's colonial history. North Carolina's 1776 constitution established the office as an official appointed by the North Carolina General Assembly. The state's 1868 constitution made the attorney general an elected executive official with their duties prescribed by law. Since 1971, the officer has sat on the North Carolina Council of State.

<span class="mw-page-title-main">North Carolina Commissioner of Agriculture</span> Head of the Department of Agriculture and Consumer Services

The Commissioner of Agriculture is a statewide elected office in the U.S. state of North Carolina. The commissioner is a constitutional officer who serves as the head of the state's Department of Agriculture and Consumer Services, which is responsible for promoting agriculture in the state. They are also a member of the Council of State. The incumbent is Steve Troxler, who has served since 2005.

The Hillsborough District Brigade of militia was an administrative division of the North Carolina militia established on May 4, 1776. Brigadier General Thomas Person was the first commander. Companies from the eight regiments of the brigade were engaged in 55 known battles and skirmishes in North Carolina, South Carolina, and Georgia during the American Revolutionary War. It was active until the end of the war.

<span class="mw-page-title-main">President pro tempore of the North Carolina Senate</span>

The president pro tempore of the North Carolina Senate is the highest-ranking officer of one house of the North Carolina General Assembly. The president of the Senate is the Lieutenant Governor of North Carolina, but the president pro tempore actually holds most of the power and presides in the absence of the Lt. Governor. The president pro tempore, a senior member of the party with a majority of seats, appoints senators to committees and also appoints certain members of state boards and commissions. From 1777 to 1868, North Carolina had no Lieutenant Governor, and the highest-ranking officer of the Senate was known as the "Speaker". The Speaker of the Senate was next in line if the office of Governor became vacant. This occurred on two occasions.

<span class="mw-page-title-main">North Carolina Commissioner of Insurance</span>

The commissioner of insurance is a statewide elected office in the U.S. state of North Carolina. The commissioner is a constitutional officer who leads the state's Department of Insurance. The commissioner also oversees the Office of the State Fire Marshal and sits on the North Carolina Council of State. The current commissioner is Mike Causey, who has held that office since January 1, 2017.

<span class="mw-page-title-main">North Carolina Commissioner of Labor</span> Elected constitutional officer in a U.S. state

The commissioner of labor is a statewide elected office in the U.S. state of North Carolina. The commissioner is a constitutional officer who leads the state's Department of Labor. North Carolina's general statues provide the commissioner with wide-ranging regulatory and enforcement powers to tend to the welfare of the state's workforce. They also sit on the North Carolina Council of State. The incumbent is Josh Dobson, who has served since January 2021.

<span class="mw-page-title-main">Memucan Hunt</span> American politician (1729–1808)

Memucan Hunt (1729–1808) was an early American statesman, planter, and the first person to hold the position of North Carolina State Treasurer in its current form.

<span class="mw-page-title-main">Government of North Carolina</span> Government of the U.S. state of North Carolina

The government of North Carolina is divided into three branches: executive, legislative, and judicial. These consist of the Council of State, the bicameral legislature, and the state court system. The Constitution of North Carolina delineates the structure and function of the state government.

The North Carolina General Assembly of 1836–1837 met in Raleigh from November 21, 1836 to January 23, 1837. The assembly consisted of the 120 members of the North Carolina House of Commons and 50 senators of North Carolina Senate elected by the voters in August 1836. During the 1836 session, the legislature created Davie County, but it was not until 1842 that Davie County began sending delegates to the General Assembly. William H. Haywood, Jr was elected speaker of the House of Commons and Charles Manley was elected clerk. Hugh Waddell was elected President of the Senate and Thomas G. Stone was elected Clerk. Richard Dobbs Spaight, Jr. was the Governor in 1835 and 1836. He was elected by the previous legislature. In 1837, the Governor of North Carolina, Edward Bishop Dudley from New Hanover County, was elected, for the first time, by the people vice the legislature. The Whigs would control North Carolina politics until 1850. While in power, their notable achievements included funding railroads and roads, public education, and State chartered banks.

<span class="mw-page-title-main">Fifth North Carolina Provincial Congress</span>

The Fifth North Carolina Provincial Congress was the last of five extra-legal unicameral bodies that met beginning in the summer of 1774. They were modeled after the colonial lower house. These congresses created a government structure, issued bills of credit to pay for the movement, organized an army for defense, wrote a constitution and bill of rights that established the state of North Carolina, and elected their first acting governor in the fifth congress that met in 1776. These congresses paved the way for the first meeting of the North Carolina General Assembly on April 7, 1777 in New Bern, North Carolina. The Fifth Congress met in Halifax from November 12 to December 23, 1776. Richard Caswell served as president, with Cornelius Harnett as vice-president.

The North Carolina General Assembly of 1835 met in Raleigh from November 16, 1835 to December 22, 1835. The assembly consisted of the 137 members of the North Carolina House of Commons and 65 senators of North Carolina Senate elected by the voters in August 1835. This was the last assembly elected before the amendments to the Constitution of North Carolina from the North Carolina Constitutional Convention of 1835 took effect. Thus, the House of Commons included representatives from towns and the number of members of the house was greater than 120. William H. Haywood, Jr was elected speaker of the House of Commons and Charles Manley was elected clerk. William D. Mosely was elected President of the Senate and William J. Cowan was elected Clerk. Richard Dobbs Spaight, Jr. was elected the Governor by the assembly and served from December 10, 1835 to December 31, 1836. He was the last governor of North Carolina to be elected by the General Assembly.

The North Carolina General Assembly of October 1784 met in New Bern from October 25, 1784 to November 26, 1784. The assembly consisted of the 116 members of the North Carolina House of Commons and 55 senators of North Carolina Senate elected by the voters on August 20, 1784. As prescribed by the 1776 Constitution of North Carolina the General Assembly elected Richard Caswell as Governor of North Carolina and members of the Council of State.

References

  1. 1 2 3 4 Towles, Louis P. (2006). "Treasurer". NCPedia. North Carolina Government & Heritage Library. Retrieved August 6, 2022.
  2. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 "History of North Carolina Treasurers". North Carolina Department of State Treasurer. Retrieved October 13, 2022.
  3. "History". North Carolina Office of the Commissioner of Banks. Retrieved March 17, 2023.
  4. North Carolina Manual 2001, p. 224.
  5. North Carolina Manual 2011, p. 134.
  6. North Carolina Manual 2011, p. 182.
  7. Jimison, Jon (January 1, 2017). "Dale Folwell sworn in as NC's treasurer minutes into 2017". Winston-Salem Journal.
  8. 1 2 MacMillan, Mike (July 1, 2022). "State Treasurer Dale Folwell relishes the chance to stir it up". Business North Carolina. Retrieved February 5, 2023.
  9. 1 2 3 North Carolina Manual 2011, p. 175.
  10. 1 2 North Carolina Manual 2011, p. 138.
  11. "Terms of Office". North Carolina State Board of Elections. Retrieved August 6, 2022.
  12. "States' Lines of Succession of Gubernatorial Powers" (PDF). National Emergency Management Association. May 2011. Retrieved August 5, 2022.
  13. Orth & Newby 2013, p. 115.
  14. "Divisions". North Carolina Department of State Treasurer. Retrieved February 8, 2023.
  15. Parker 2013, pp. 694, 713.
  16. Vaillancourt, Cory (November 9, 2022). "NC's Local Government Commission returns to its roots in Western North Carolina". Smoky Mountain News. Retrieved June 22, 2023.
  17. Stick, David (2006). "Local Government Commission". NCPedia. North Carolina Government & Heritage Library. Retrieved August 6, 2022.
  18. Orth & Newby 2013, p. 125.
  19. "What raises are NC teachers, state employees getting in 2022". The News & Observer. July 20, 2022. Retrieved August 4, 2022.
  20. 1 2 Price, William S.; Dease, Jared (December 2022). "Moseley, Edward". NCPedia. North Carolina Government & Heritage Library. Retrieved June 24, 2023.
  21. Reidinger, Martin. "Downing, William". NCPedia. North Carolina Government & Heritage Library. Retrieved January 24, 2023.
  22. Stumpf, Vernon O. "Hodgson, John". NCPedia. North Carolina Government & Heritage Library. Retrieved June 25, 2023.
  23. Connor, R.D.D. (1913). "North Carolina Manual".
  24. Connor, R.D.D. (1913). A Manual of North Carolina (PDF). Raleigh: North Carolina Historical Commission. p. 441. Retrieved April 27, 2019.
  25. Wheeler, John H. (1874). "The Legislative Manual and Political Register of the State of North Carolina". p. 441. Retrieved April 9, 2019.

Works cited